SINGAPORE (Reuters) – General Electric’s turbine manufacturing unit said on Wednesday it had agreed with Japan’s IHI Corp to develop gas turbines operating on ammonia to reduce carbon dioxide emissions. GE and IHI would work to develop technology that would allow some of GE’s existing gas turbine products to safely burn 100% ammonia by 2030, …
GE, IHI to develop ammonia-based low-carbon gas power turbines Read More »
(Reuters) -Chinese fashion retailer Shein is in talks to raise up to $3 billion at a reduced valuation of $64 billion, the Financial Times reported on Wednesday, citing people with knowledge of the negotiations. The latest valuation would be nearly 36% less than the $100 billion the company was reportedly valued at in a funding …
Fashion retailer Shein in talks to raise funds at lower valuation of $64 billion – FT Read More »
By Karin Strohecker and Jorgelina do Rosario LONDON (Reuters) – Democratic Republic of Congo expects to reach an agreement on overhauling $6 billion of an infrastructure-for-minerals deal with Chinese investors this year, Finance Minister Nicolas Kazadi told Reuters in an interview. The government is in active talks with representatives of Sicomines, a cobalt and copper …
Congo sees deal on $6 billion China mining contract overhaul this year -Finance Minister Read More »
By Gertrude Chavez-Dreyfuss and Samuel Indyk NEW YORK/LONDON (Reuters) – The dollar dropped across the board on Wednesday after a batch of weak data that suggested the world’s largest economy is finally slowing down amid a slew of big rate hikes by the Federal Reserve. Wednesday’s economic reports reinforced expectations that the Fed will continue …
U.S. dollar tumbles after weak data; yen flat as BOJ impact fades Read More »
RIGA (Reuters) – Lithuanian tech firm Teltonika said on Wednesday it had signed a cooperation agreement with Taiwan’s Industrial Technology Institute, giving the Baltic company access to semiconductor manufacturing technologies. The deal was valued at 14 million euros ($15.2 million), and was supported by a 10 million euro grant from Taiwan’s foreign ministry, it said. …
Lithuania’s Teltonika in semiconductor deal with Taiwan group Read More »
DAVOS, Switzerland (Reuters) – China’s opening up is important for the world and there is good news from market friendly measures taken there, Citi Group’s chief executive Jane Fraser told a panel at the World Economic Forum’s (WEF) annual meeting on Wednesday. It is quite a volatile time in the world, Fraser said, adding that …
Davos 2023 – Citi CEO Fraser says China opening up is good news for the market Read More »
BEIJING (Reuters) – China’s aluminium imports in 2022 fell 25.6% from a year earlier as COVID-restrictions reduced consumption amid record high domestic production. Last year, the world’s biggest aluminium producer and consumer brought in 2.39 million tonnes of unwrought aluminium and products, which includes primary metal and unwrought, alloyed aluminium, according to data from the …
China 2022 aluminium imports fall 26% on lower demand Read More »
By Fransiska Nangoy and Bernadette Christina JAKARTA (Reuters) – Indonesia’s oil and gas lifting last year came in below target due to unplanned shutdowns and maturing blocks, but exploration and production investment is poised to take off, the country’s upstream regulator SKK Migas said on Wednesday. Indonesia’s crude oil lifting stood at 612,300 barrels per …
Indonesia’s 2022 oil lifting below target, but investment rising Read More »
SHANGHAI (Reuters) – Overseas investors increased their holdings of Chinese bonds in December, snapping a record 10-month spate of outflows, and capital inflows are expected to continue into the new year, the country’s foreign exchange regulator said. Risk appetite improved and investor sentiment was boosted after Beijing abruptly dismantled most of its strict COVID-19 curbs …
China reports big jump in foreign capital inflows on reopening bets Read More »
ZURICH (Reuters) – U.S. Treasury Secretary Janet Yellen told Chinese Vice Premier Liu He in Zurich on Wednesday that the world’s two largest economies share a responsibility to manage their differences and prevent their competition from turning into a conflict. Yellen, in her first in-person meeting with Liu, said there was a “pressing need” for …
Yellen says U.S., China must communicate on economic issues, work to avoid conflict Read More »
