By Cynthia Kim and Jihoon Lee SEOUL (Reuters) – South Korea’s central bank on Thursday slowed the pace of rate hikes, sharply cut its 2023 growth forecast and tweaked the language used to describe its rates outlook, suggesting it could be headed towards the end of its tightening cycle. The Bank of Korea’s (BOK) monetary …
South Korean central bank slows rate hikes, sharply downgrades 2023 growth Read More »
STOCKHOLM (Reuters) – Swedish bearings maker SKF said on Thursday it would invest 1.25 billion crowns ($120 million) across China, India and Southeast Asia. SKF said in a statement it was investing 1 billion crowns in expanding and modernising its factory in Dalian in China to improve its competitiveness for large- and medium-size bearings. The …
SKF invests $120 million across China, India and Southeast Asia Read More »
By Ju-min Park and Heekyong Yang UIWANG, South Korea (Reuters) -Unionised truckers in South Korea kicked off their second major strike in less than six months on Thursday, threatening to disrupt manufacturing and fuel supplies for industries from autos to petrochemicals in the world’s 10th-largest economy. With fuel costs soaring, the truckers are calling on …
South Korea truckers strike again with auto, battery supply chains at risk Read More »
MANILA (Reuters) – A Philippine inter-agency panel chaired by President Ferdinand Marcos Jr on Thursday approved removing tariffs on electric vehicles (EVs) to spur demand amid high fuel costs. Marcos will issue an executive order cutting to 0% the most favoured nation tariff on EVs like passengers cars, buses, vans, trucks, motorcycles, and bicycles, and …
Philippines to cut tariffs on electric vehicles, parts Read More »
By Sarah McFarlane and Clara Denina LONDON (Reuters) – It’s the best of times, it’s the worst of times. At least when it comes to mining coal. After years of decline, demand for the polluting fossil fuel has surged this year as Europe scrambles to replace Russian gas, and coal miners are making money hand …
By Makiko Yamazaki TOKYO (Reuters) – Japan’s Mitsubishi UFJ Financial Group Inc said on Thursday it would buy the Philippines and Indonesian units of Dutch consumer finance company Home Credit Group BV for about 596 million euros ($621 million). The deal comes as Japan’s largest lender aims to beef up its business in Asia to …
Japan’s Mitsubishi UFJ to buy two Asia units of Home Credit for $620 million Read More »
JAKARTA (Reuters) – Indonesian household spending will likely remain stable in the fourth quarter, while investment will probably rise, Finance Minister Sri Mulyani Indrawati said on Thursday. For the whole of 2022, gross domestic product is seen expanding within a range of 5% to 5.3%, Sri Mulyani said in a news conference. Indonesia’s 2021 economic …
Indonesian household spending seen stable, investment to rise in Q4 – Finance Minister Read More »
By Julia Payne and Nidhi Verma LONDON/NEW DELHI/MOSCOW (Reuters) -The Group of Seven (G7) nations’ proposed price cap of $65-$70 a barrel on Russian oil would have little immediate impact on Moscow’s revenues, as it is broadly in line with what Asian buyers are already paying, five industry sources with direct knowledge of the purchases …
Proposed G7 oil price cap to have little immediate impact on Russian revenue Read More »
By Chibuike Oguh NEW YORK (Reuters) -World equities rose while U.S. Treasury yields retreated on Wednesday after minutes of the Federal Reserve’s latest policy meeting showed U.S. central bankers looking to soon moderate the pace of interest rate hikes. A “substantial majority” of Fed policymakers agreed it would “likely soon be appropriate” to slow the …
Shares rise, U.S. Treasury yields drop as Fed minutes suggest slower rate hikes Read More »
SEOUL (Reuters) – South Korea’s annual producer inflation slowed for a fourth straight month in October to a 16-month low, central bank data showed on Thursday. The producer price index stood 7.3% higher in October than the same month a year ago, according to the Bank of Korea (BoK), after a revised 7.9% rise in …
South Korea producer inflation hits 16-month low in Oct Read More »
