TOKYO (Reuters) – Japan’s Idemitsu Kosan Co has agreed to sell its 85% stake in the Ensham coal mine in Australia to a Thungela Resources subsidiary, Sungela Pty, for an upfront payment of A$340 million ($240 million), it said on Friday. The deal helps South African coal miner Thungela to diversify away from its home …
Japan’s Idemitsu Kosan to sell Australia coal mine to Thungela for $240 million Read More »
BEIJING (Reuters) – The Chinese banking sector’s bad loan ratio stood at 1.71% at end-2022, down 0.09 percentage point year-on-year, according to the sector’s regulator cited by the Shanghai Securities News on Friday. Outstanding non-performing loans in the banking sector stood at 3.8 trillion yuan ($563.45 billion) at the end of last year, according to …
ROME (Reuters) – World food prices fell in January for a 10th consecutive month, and are now down some 18% from a record high hit last March following Russia’s invasion of Ukraine, the United Nations food agency said on Friday. The Food and Agriculture Organization’s (FAO) price index, which tracks the most globally traded food …
World food prices decline for 10th month running in January, says FAO Read More »
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) – The Bank of Japan’s leadership race came under renewed market scrutiny after Hiroshi Nakaso, seen as a strong contender to become next governor, said he has taken up a post heading an Asia-Pacific Economic Cooperation (APEC) advisory council. While it was unclear how Nakaso’s move may …
BOJ governor race gets a twist after top contender Nakaso take APEC role Read More »
By Yuka Obayashi and Katya Golubkova TOKYO (Reuters) -Japanese trading houses Mitsui & Co and Mitsubishi Corp lifted their full-year profit forecasts and promised to pay higher dividends on Friday after spiking global commodity prices boosted their quarterly earnings. Japanese trading houses are benefitting from rising commodity prices from coal to liquefied natural gas (LNG), …
Japanese trading houses lift dividend forecasts on record profits Read More »
By Joe Cash BEIJING (Reuters) – China should avoid a premature tightening of macro-economic policies as its economy is still not performing at its full potential despite rebounding from COVID-19, International Monetary Fund (IMF) officials said on Friday. “Key structural reforms should be re-accelerated to lift China’s potential growth,” the officials told reporters at an …
China should avoid tightening macro-economic policies prematurely – IMF Read More »
By Kevin Yao BEIJING (Reuters) – China’s policymakers plan to show more support for domestic demand this year but are likely to stop short of splashing out big on direct consumer subsidies, keeping their focus mainly on investment, three sources close to policy discussions said. In recent weeks, top policymakers have repeatedly signalled their intention …
Exclusive-Big stimulus unlikely as China considers steps to support consumers-sources Read More »
By Leika Kihara TOKYO (Reuters) – Any future interest rate hike by the Bank of Japan (BOJ) will likely be gradual and have a limited near-term impact on the country’s debt financing, an official at global ratings agency Moody’s Investors Service said on Friday. While Japan’s huge public debt is negative for its credit profile, …
Moody’s sees limited impact on Japan’s debt finance from BOJ rate hike Read More »
(Reuters) – Sri Lanka’s international bondholders group was prepared to engage with the island nation’s authorities in debt restructuring talks consistent with the parameters of the IMF Programme, their legal adviser, White & Case LLP, said. The island of 22 million people, caught in its worst financial crisis in more than seven decades – caused …
Sri Lanka bondholders ready for debt restructuring talks with authorities Read More »
By Kiyoshi Takenaka TOKYO (Reuters) – SoftBank Group Corp’s quarterly earnings on Tuesday are set to show persistent pressure from tech valuations that have yet to recover from a global sell-off, adding to the uncertain outlook for the timing of the highly anticipated Arm listing. The Japanese tech giant’s planned listing of British chip designer …
SoftBank Q3 seen under pressure from tech weakness, Arm IPO eyed Read More »
