By Divya Rajagopal and Melanie Burton TORONTO/SYDNEY – A fall in copper prices is having an outsized impact on small and mid-sized miners, forcing many to cut output, and some are now open to raising funds from new investors to ride out the current downtrend, several company executives told Reuters. Copper is set to play …
Smaller miners’ hunger for cash grows as copper prices fall, sparking M&A bets Read More »
By Yantoultra Ngui and Scott Murdoch SINGAPORE/SYDNEY (Reuters) – Indonesian state-owned fertiliser company PT Pupuk Kalimantan Timur, or Pupuk Kaltim, is in talks to acquire the fertiliser business of Australian-listed Incitec Pivot Ltd, two sources familiar with the matter said. Pupuk Kaltim, which is Southeast Asia’s biggest urea fertiliser maker, has engaged Citi to advise …
By Jason Xue and Tom Westbrook SHANGHAI/SYDNEY (Reuters) -Stocks and bonds in China’s real estate industry fell to around eight-month lows on Monday as repayment concerns at two of the country’s biggest developers deepened a crisis of confidence in the sector. Cash shortages at giants Country Garden and Dalian Wanda show funding issues have reached …
China property developers’ shares, bonds dive as sector worries deepen Read More »
MANILA (Reuters) – Philippines President Ferdinand Marcos Jr touted his administration’s successes over the past year including battling inflation and steering the economy back on track, but said a number of economic challenges lie ahead. After more than a year in office, buffeted by soaring inflation that has dented economic growth, the government is now …
Philippines’ Marcos says inflation ‘moving in right direction’ Read More »
By Clare Jim HONG KONG (Reuters) -A Hong Kong court on Monday said it will hold sanction hearings on Sept. 5-6 to decide whether to approve an offshore debt restructuring plan by embattled property developer China Evergrande Group. Evergrande, the poster child of property sector crisis in China, has $330 billion in liabilities making it …
Hong Kong court to hold hearings on China Evergrande restructuring plan in September Read More »
BEIJING (Reuters) – Chinese battery giant CATL said in a statement on Monday that its cooperation with Ford Motor is moving forward as normal. The statement came after two U.S. House of Representatives committees said on Friday they are investigating Ford’s Chinese battery partnership. (Reporting by Beijing Newsroom; Editing by Kim Coghill)
JAKARTA (Reuters) – Indonesia has increased its social welfare budget by 8 trillion rupiah ($532.41 million) to distribute more rice to lower-income households and help control food prices, the finance minister said on Monday. The decision came after the country’s weather agency warned that the El Niño weather pattern is set to bring drought to …
Indonesia budgets more than $500 million for additional rice for the poor Read More »
By Joe Cash BEIJING (Reuters) – China is struggling to revive foreign investment in its financially battered cities and provinces as foreign firms remain wary of political risks and new incentives fall far short of sweeteners once used to attract overseas money. With their coffers depleted after an economically bruising pandemic and property crisis, local …
Analysis-China’s pitch to foreign investors falls flat as incentives dwindle Read More »
By Tim Kelly, Karen Freifeld and Kentaro Sugiyama TOKYO/NEW YORK (Reuters) – Japan’s imposition of export controls on chip making tools to align with a U.S. policy restricting China’s ability to produce advanced semiconductors is worrying some officials in Tokyo who believe a combative U.S. approach may hamper coordination and needlessly provoke Beijing. From this …
Analysis-As Japan aligns with U.S. chip curbs on China, some in Tokyo feel uneasy Read More »
By Chen Aizhu SINGAPORE (Reuters) – Chinese oil refiners and petrochemical companies are investing tens of billions of dollars to produce high-end chemicals for solar panels and lithium-ion batteries to profit from growing demand for energy transition technologies. The investments illustrate China’s drive to reduce its import dependence and further cement its dominance of renewable …
Chinese petchem firms betting big on energy transition products Read More »
