BRUSSELS (Reuters) – European Commission President Ursula von der Leyen will travel with French President Macron to Beijing for a joint meeting with Chinese President Xi Jinping on Thursday, having said the European Union must reduce its economic dependence on China. Von der Leyen said the bloc could not decouple from China, but needed to …
Factbox-Economic reliance on China that EU wants to ‘rebalance’ Read More »
(Reuters) -The Biden administration has demanded that TikTok’s Chinese owners divest their stakes in the popular video app or face a possible U.S. ban, the company told Reuters this week. The move follows the introduction of a new U.S. legislation that would allow the White House to ban TikTok or other foreign-based technologies if they …
Factbox-TikTok’s Chinese ownership, security concerns spark bans across nations Read More »
JAKARTA (Reuters) -Indonesian state oil firm PT Pertamina plans to spend nearly $2 billion in the period up to 2026 to improve safety at its facilities, executives said on Tuesday, as lawmakers grilled officials over their response to a series of fires and explosions. Last month, a fire at Pertamina’s fuel terminal in north Jakarta …
Indonesia’s Pertamina to spend nearly $2 billion to improve safety Read More »
By Xie Yu and Jason Xue HONG KONG/SHANGHAI (Reuters) – Foreign investors are steadily marching into China in the wake of Alibaba’s plans to restructure, with money managers reckoning it is the latest sign the national leadership is turning friendlier to business as economic growth gains traction. Exchange data shows net foreign buying of mainland-listed …
Foreign cash streaming back to China after Alibaba’s plans Read More »
By Ziyi Tang and Ryan Woo BEIJING (Reuters) – China’s largest banks will see near-term revenue and margin pressures on a persisting property sector downturn, higher costs and a worsening global macro outlook, analysts said, clouding growth prospects for the world’s second-largest economy. Some of the challenges the lenders face were evident last week when …
Risks loom over China’s top tier banks from property downturn, higher costs Read More »
By Patturaja Murugaboopathy and Gaurav Dogra (Reuters) – Shares of Asian companies with big cash balances are outperforming the broader market and analysts say the money will be a cushion against volatility and earnings downgrades. The shares of the top 300 listed Asian companies based on their net cash levels have risen about 9% this …
Asia’s cashed-up companies beat market as volatility swirls Read More »
BANGKOK (Reuters) – Thailand’s consumer spending could rise 17% to 125 billion baht ($3.65 billion), a four-year high, during the upcoming Thai New Year as the economy and tourism sector gather steam, the commerce university said on Tuesday. The figure would be the highest since the 136 billion baht spent in pre-pandemic 2019, suggesting the …
Thailand sees $3.65 billion spending with water festival to return with gusto Read More »
KUALA LUMPUR (Reuters) – Malaysian Prime Minister Anwar Ibrahim on Tuesday said Beijing has expressed concerns about energy activities by Malaysian state firm Petronas in the South China Sea, even though Kuala Lumpur believes the projects are in its territory. Anwar’s remarks come after he opened the door for negotiations with China earlier this week, …
Malaysia says Beijing concerned about its energy projects in South China Sea Read More »
(Corrects to say the meeting of Australian-Chinese officials took place in Beijing, not at the WTO) By Joe Cash BEIJING (Reuters) – China’s international trade negotiator has expressed concern over Australia’s scrutiny of the operations of Chinese firms there, the commerce ministry said, while flagging the potential for economic and trade co-operation. The comments by …
China voices concern over Australia’s scrutiny of its firms Read More »
SEOUL (Reuters) – Samsung Electronics’ unit Samsung Display plans to invest 4.1 trillion won ($3.14 billion) until 2026 in Asan, South Korea to make advanced organic light-emitting diode (OLED) display panels used in tablets and computers, the trade ministry said on Tuesday. The investment is part of a previously-announced plan by Samsung Electronics and affiliates …
Samsung Display to invest $3.1 billion in OLED production in South Korea Read More »
