(Reuters) – China’s BYD Co, the world’s biggest seller of battery electric vehicles (BEVs) and plug-in hybrids, expects its 2022 net profit to be more than five times the amount it booked a year earlier, it said on Monday. With sales of 1.86 million cars, it expects a net profit of 16-17 billion yuan ($2.37-$2.52 …
Chinese EV giant BYD set for surge in 2022 profit as sales jump Read More »
MELBOURNE (Reuters) – Rio Tinto Ltd apologised on Monday for the loss of a tiny radioactive capsule that has sparked a radiation alert across parts of the vast state of Western Australia. The radioactive capsule, believed to have fallen from a truck, was part of a gauge used to measure the density of iron ore …
Rio Tinto apologises for loss of tiny radioactive capsule in Australian outback Read More »
(Reuters) – Nissan Motor Co and Renault SA have agreed to a sweeping revamp of their two-decade-old automaking alliance that will put them on an equal footing and see the Japanese company invest in Renault’s new electric business. COMMENTS JP MORGAN “We see today’s announcement as a positive signal for both entities to improve…industrial collaboration …
Nissan, Renault agree to overhaul alliance, putting themselves on equal footing Read More »
By Maki Shiraki and Gilles Guillaume TOKYO/PARIS (Reuters) -Nissan Motor Co and Renault SA agreed on Monday to a sweeping remake of their two-decade-old automaking alliance that will put them on equal footing and see the Japanese company invest in Renault’s new electric vehicle business. The joint announcement capped nearly four months of intense talks …
Nissan and Renault agree to overhaul alliance, this time as equals Read More »
KUALA LUMPUR (Reuters) – Malaysia’s Maybank does not face any financial impact from its subscription to Indian conglomerate Adani Enterprises’ share offering, the bank said on Monday. Marquee investors Maybank Securities and Abu Dhabi Investment Authority picked up a stake in Adani Enterprises’ $2.45 billion secondary share offering on Wednesday, which coincided with a short-seller …
Malaysia’s Maybank says no financial impact from subscription to Adani’s share offering Read More »
By Leika Kihara and Yoshifumi Takemoto TOKYO (Reuters) -A panel of academics and business executives on Monday urged the Bank of Japan (BOJ) to make its 2% inflation target a long-term goal instead of one that must be met as soon as possible, in light of the rising cost of prolonged monetary easing. The re-defining …
BOJ should make 2% inflation target long-term goal, panel says Read More »
By Stefanno Sulaiman and Sophie Yu JAKARTA/BEIJING (Reuters) -China’s JD.com is to close its e-commerce services in Indonesia and Thailand, retreating from Southeast Asia after a bruising year for China’s retail and technology sectors. JD.com will end its services in Thailand from March 3 and in Indonesia from the end of the same month, its …
China’s JD.com to shut e-commerce sites in Indonesia, Thailand Read More »
BEIJING (Reuters) – Profits at Chinese state-owned firms fell 5.1% year-on-year in 2022 to 4.3 trillion yuan ($637.01 billion), according to data from the Finance Ministry on Monday. The decline was steeper than the 4.4% fall in the first 11 months of 2022. ($1 = 6.7503 Chinese yuan renminbi) (Reporting by Ellen Zhang and Ryan …
Profits at China’s state-owned firms shrink 5.1% y/y in 2022 Read More »
(Reuters) -Taiwan’s Foxconn said on Monday it had hired former Nissan Motor Co and Nidec Corp executive Jun Seki as its chief strategy officer for electric vehicles, adding a high-profile auto executive to bolster its industry ambitions. Seki, once seen as a contender for the top job at Nissan, later went to motor maker Nidec, …
Taiwan’s Foxconn taps former Nissan and Nidec heavyweight Seki for EV business Read More »
KARACHI (Reuters) – The Pakistani rupee on Monday hit an all-time low after dropping about 2.56% to 269.50 per dollar from its previous close in the inter-bank market, trading data showed. The rupee closed at 262.60 to a dollar in inter-bank trade on Friday, the central bank said. The rupee has fallen to historic lows since …
Pakistani rupee hits all-time low vs dollar to meet IMF demands Read More »
