By Jeanny Kao and Faith Hung TAIPEI (Reuters) -Taiwan’s export-dependent economy contracted more than expected in the first quarter and slipped into recession as exports were hit by slowing global tech demand and broader economic woes, but should hit a 2% growth target this year. Gross domestic product (GDP) shrank 3.02% in January-March from a …
Taiwan slips into recession as Q1 GDP hits 14-year low Read More »
(Reuters) – The Bank of Japan (BOJ) on Friday kept ultra-low interest rates but announced a broad review of its monetary policy, laying the groundwork for new Governor Kazuo Ueda to gradually phase out his predecessor’s massive stimulus programme. Following are excerpts from the news conference, which was conducted in Japanese, as translated by Reuters: …
By Muyu Xu SINGAPORE (Reuters) – Freed from the most onerous of their COVID restrictions, China’s tourists are set to boost the country’s gasoline and jet fuel consumption next month as travellers for the May Day holiday take to the skies and hit the road. The surge in transport fuel demand could be good for …
Free to move about, China May Day tourists to stoke gasoline, jet fuel use Read More »
BEIJING (Reuters) – China’s biggest listed steelmaker, Baoshan Iron & Steel Co, expects the country’s 2023 crude steel output to be flat or slightly lower than last year, an executive said on Friday, in line with broader market expectations. China’s huge steel market is waiting for official confirmation that Beijing will continue a mandate started …
Baosteel expects China’s 2023 steel output flat to lower vs last year Read More »
By Andrew Hayley YULIN, China (Reuters) – China is pushing automated technology to improve the safety and efficiency of its coal mining industry, the world’s largest, which has long been plagued by safety lapses. At the Hongliulin mine, run by state-owned Shaanxi Coal Group, telecoms equipment giant Huawei Technologies has installed 5G technology that reduces …
China automating mines to improve safety as coal output grows Read More »
FRANKFURT (Reuters) -Germany may limit the export of chemicals to China that are used to manufacture semiconductors as part of the government’s efforts to reduce its economic exposure to the Asian economic superpower, Bloomberg news reported on Thursday. The move was still in the early stages of discussion but officials taking part in the talks …
Germany may restrict export of chip chemicals to China – Bloomberg Read More »
BEIJING (Reuters) – China’s economy is recovering but domestic demand is still insufficient, posing obstacles for an economic transformation, according to a Politburo meeting held on Friday, state media reported. The triple pressures facing the economy – shrinking demand, supply shocks and weakening expectations – have eased amid better-than-expected first quarter growth, according to the …
China’s Politburo meeting says demand growth key to durable economic recovery Read More »
By Tom Westbrook SINGAPORE (Reuters) -Decades-long foreign bullishness on China’s capital markets is breaking down, investment flows and interviews with fund managers suggest, with a new era of uncertainty fuelled by geopolitical risks and U.S. investors especially wary. There have been ample excuses to buy China as the world’s second biggest economy gathers steam. Post-pandemic …
Analysis-China investment consensus cracks as politics fuel fears Read More »
(Reuters) – The Norwegian central bank on Thursday excluded two oil and gas companies from its $1.4-trillion wealth fund, the world’s largest, citing ethical concerns over their ties to the Myanmar military. South Korea’s state-run Korea Gas Corp (KOGAS) and Indian gas firm GAIL (India) Ltd were excluded from the fund, Norges Bank said in …
Norway sovereign wealth fund excludes Korea Gas, India’s GAIL over Myanmar link Read More »
By Gabriel Araujo IRACEMAPOLIS, Brazil (Reuters) – Chinese carmaker Great Wall Motor Co Ltd will start operations of its Iracemapolis plant in Brazil on May 1, 2024, the company announced on Thursday, also disclosing which vehicles it will manufacture there. The firm, owner of brands such as Haval and Tank, said it will produce a …
China’s GWM to start Brazil plant operations in May 2024 Read More »
