HANOI (Reuters) – Chinese automaker BYD Co. plans to expand into electric vehicles manufacturing and assembly in Vietnam, according to a Vietnamese government statement citing the company’s chair. Reuters in January exclusively reported that the Xian-based EV maker had plans to open a plant in Vietnam to produce car parts, with the aim to export …
(Reuters) – Australia’s Lynas Rare Earths Ltd said on Monday its operating license in Malaysia to import and process rare earths is now valid until Jan. 1 next year, but added it will continue to seek legal review of conditions that threaten its permit. Malaysia’s Science, Technology and Innovation Minister Chang Lih Kang said the …
Rare earths producer Lynas’ Malaysian licence extended to January Read More »
TOKYO (Reuters) – Japan’s second-biggest steelmaker JFE Holdings Inc plans to post a 17% increase in current fiscal year’s net profit to 190 billion yen ($1.4 billion), expecting stronger steel demand thanks to recovery in auto sector, it said on Monday. JFE saw a 44% decline in 2022/23 fiscal year net profit to 162.6 billion …
Japan’s JFE Holdings sees 2023/24 profit up on auto sector recovery Read More »
By Angie Teo, Chayut Setboonsarng and Devjyot Ghoshal BANGKOK (Reuters) -Shanghai resident Daniel Bian drank in the sweeping views over the Thai capital as he lay on a deckchair beside a swimming pool on the 19th floor of a luxury condominium. “I feel alive. I feel free,” said an excited Bian, dapper in tinted sunglasses, …
Chinese scour Thailand for homes, looking to offset risks after pandemic Read More »
BEIJING (Reuters) – China’s foreign exchange reserves rose more than expected in April, official data showed on Sunday, as the dollar fell against other major currencies. The country’s foreign exchange reserves – the world’s largest – rose $21 billion to $3.205 trillion last month, compared with $3.192 trillion tipped by a Reuters poll of analysts …
China forex reserves rise to $3.205 trln in April Read More »
SYDNEY (Reuters) – Australian Treasurer Jim Chalmers urged minor political parties on Sunday to back proposed changes to the Petroleum Resource Rent Tax (PRRT) paid by the offshore LNG industry, as the industry’s lobby group welcomed the move. The government estimates the changes, which would hike tax paid by the industry, will lift revenue by …
Australian Treasurer urges parliament to back petroleum tax changes Read More »
By Jonathan Stempel and John McCrank OMAHA, Nebraska (Reuters) – Warren Buffet on Saturday said he is more comfortable with Berkshire Hathaway Inc deploying capital in Japan than Taiwan, reflecting the growing tensions between the United States and China. The billionaire investor contrasted Berkshire’s recently increased investments in five Japanese trading houses with its recent …
Buffett says more comfortable with investments in Japan than Taiwan Read More »
BANGKOK (Reuters) – China’s Hozon New Energy Automobile will make electric vehicles in Thailand for the Southeast Asian market, a Thai official said on Saturday, as it follows others in building facilities in the region’s major auto production hub. Hozon signed an agreement with Thailand’s Bangchan General Assembly this week to start production of its …
China’s Hozon to produce EVs in Thailand for Southeast Asian market Read More »
By Chris Thomas and Yantoultra Ngui BENGALURU/SINGAPORE (Reuters) – Singapore state investor Temasek Holdings is considering investing $100 million in Indian jeweller BlueStone for a stake of about 20%, two sources with direct knowledge of the matter told Reuters. The investment would value Bengaluru-based BlueStone, also backed by venture capital firm Accel and Indian industrialist Ratan …
Temasek considers investing $100 million in Indian jeweller BlueStone -sources Read More »
SHENZHEN, China (Reuters) – The first full return of China’s biggest trade show saw a drop in the value of signed export orders compared to pre-pandemic levels, though the figure still managed to exceed expectations, its organisers said. Offline export deals signed at the Canton Fair came to $21.69 billion, organisers said on Friday, down …
Export orders down at first full post-pandemic Canton Fair Read More »
