TOKYO (Reuters) -Private equity firm KKR has acquired a 35% stake in Japanese software developer Fuji Soft after the first part of its two-stage buyout tender offer, the latter said in a statement on Wednesday. Although rival Bain Capital had proposed a higher offer in October to take the Japanese company private, KKR now owns …
KKR acquires 35% of Fuji Soft after first stage of tender offer Read More »
By Selena Li HONG KONG (Reuters) – Morgan Stanley has won final approval to launch a futures business in China via a newly established unit, becoming the second major U.S. entrant in the derivatives market of the world’s second-largest economy. Morgan Stanley Futures (China), wholly owned by the U.S. bank, was for the first time …
China gives Morgan Stanley approval to launch local futures unit Read More »
By Danial Azhar KUALA LUMPUR (Reuters) – Malaysia’s central bank kept its key policy rate unchanged on Wednesday, reflecting a positive economic growth outlook and steady inflation but issued a warning about potential currency volatility. At its final policy meeting of the year, Bank Negara Malaysia (BNM) maintained its overnight policy rate at 3.00%, as …
Malaysia cenbank holds rates, likely no change next year Read More »
By Summer Zhen and Jiaxing Li HONG KONG/SHANGHAI (Reuters) – China’s yuan and stock markets fell sharply on Wednesday as the prospect of another Donald Trump presidency and Republican control of U.S. Congress risked heightened tensions over trade and technology. By the time Chinese markets closed, Trump had claimed victory over Democrat Kamala Harris in …
SHANGHAI (Reuters) – Xpeng unveiled its extended-range hybrid technology on Wednesday, as the Chinese electric vehicle maker bets on a pivot to such products that are more cost-competitive than pure EVs to boost sales and improve profitability. Its “Kunpeng Super Electric System” enables a car to drive more than 1,400 kilometres with an internal combustion …
China’s Xpeng bets on extended-range hybrid tech to boost sales Read More »
By Phuong Nguyen HANOI (Reuters) – Vietnam reported an October trade surplus of $2 billion, narrowing from the previous month as imports grew at a faster rate than exports, government data showed on Wednesday. The Southeast Asian country, a regional manufacturing hub, relies heavily on exports for its economic growth. Shipments rose 10.1% in October …
Vietnam records $2 billion trade surplus in October, lowest since May Read More »
TOKYO (Reuters) – Japan’s Itochu Corp said on Wednesday that it agreed with Brazil’s steel company Companhia Siderúrgica Nacional (CSN) to buy a 10.74% stake in CSN’s iron ore unit CSN Mineracao (CM) from CSN for about 4.42 billion real ($769 million). CM is the leading iron ore producer and distributor in Brazil. This is …
Itochu to buy 10.74% stake in Brazil’s CSN’s iron ore unit for $769 million Read More »
TAIPEI (Reuters) – Taiwan and Britain are holding a new round of trade talks this week focusing on investment and green energy, officials said on Wednesday, after a deal last year that Taipei hopes will boost global engagement of the tech powerhouse. Despite a lack of formal ties, Taiwan sees Britain as an important democratic …
TOKYO (Reuters) -Japan’s Honda Motor reported a surprise 15% drop in second-quarter operating profit on Wednesday, missing analysts’ expectations as it suffered a heavy sales decline in China. Japan’s second-largest automaker said operating profit was 257.9 billion yen ($1.68 billion) in the July-September quarter, marking the company’s first year-on-year profit decline in seven quarters. The …
Honda posts 15% fall in Q2 operating profit, missing forecasts Read More »
BANGKOK (Reuters) – Thailand’s annual headline inflation rate quickened in October due to higher energy and food prices, the commerce ministry said on Wednesday, but still remained below the central bank’s target range of 1% to 3%. The headline consumer price index (CPI) rose 0.83% in October from a year earlier, the commerce ministry said. …
Thai inflation quickens in Oct but still below central bank target Read More »
