By Alex Lawler LONDON (Reuters) – OPEC is likely to maintain its view world oil demand will rise for another decade, longer than many other forecasters predict, in a forthcoming major report, despite the growing role of renewables and electric cars, two OPEC sources said. The Organization of the Petroleum Exporting Countries is scheduled to …
OPEC expected to stick to view of long-term oil demand rise Read More »
By Summer Zhen HONG KONG (Reuters) – Baillie Gifford, one of the largest asset managers in Europe and a China bull in recent years, increased its holdings of some Chinese growth stocks in its portfolio in the third quarter despite rising policy uncertainty, exchange filings showed. The Edinburgh-based investment group added 110,737 shares of e-commerce …
Baillie Gifford funds bought more shares of China’s Pinduoduo, NIO in Q3 Read More »
BEIJING (Reuters) -Three of China’s largest lenders posted third quarter profit rises of over 6% as non-performing loan ratios shrunk. Industrial and Commercial Bank of China Ltd (ICBC), the world’s largest commercial lender by assets, said net profit rose 6.8% year-on-year in the third quarter in a Friday filing. Agricultural Bank of China Ltd (AgBank) …
Three of China’s largest lenders report over 6% rise in third quarter profit Read More »
By Leika Kihara TOKYO (Reuters) – The Bank of Japan kept ultra-low interest rates on Friday and maintained its dovish guidance, cementing its status as an outlier among global central banks tightening monetary policy, as recession fears dampen prospects for a solid recovery. The central bank also announced plans to increase the frequency of its …
BOJ defies global tightening trend, sticks to ultra-low rates Read More »
JAKARTA (Reuters) – Indonesia’s economy is expected to grow by 5.7% in the third quarter from a year earlier, the finance ministry’s fiscal policy agency head Febrio Kacaribu told a seminar on Friday. Indonesia’s statistic office is due to announce third quarter gross domestic product growth data on Nov 7. (Reporting by Stefanno Sulaiman; Editing …
Indonesia finance ministry sees Q3 GDP growth at 5.7% Read More »
TOKYO (Reuters) – Japanese industry minister Yasutoshi Nishimura on Friday asked Petronas CEO Tengku Taufik to continue efforts to mitigate the impact on Japanese customers of its liquefied natural gas (LNG) after a disruption at Malaysia LNG. In a meeting at the industry ministry, Nishimura said Petronas had already made efforts address the situation for …
Japan asks Petronas CEO to help Japanese customers after Malaysia LNG disruption Read More »
BEIJING/SHANGHAI (Reuters) – Agricultural Bank of China Ltd (AgBank), the country’s third-largest commercial lender by assets, said net profit rose 6.4% year-on-year in the third quarter. Profit totalled 68.56 billion yuan ($9.44 billion) in the three months through September, compared with 64.4 billion yuan in the same period a year earlier, the bank said in …
China’s AgBank posts 6.4% rise in third-quarter profit Read More »
TOKYO (Reuters) – Japan’s government on Friday unveiled a new stimulus package with spending worth 39.0 trillion yen ($265 billion) that it said would boost gross domestic product (GDP) by around 4.6%. The government said it would compile an extra budget in the current fiscal year worth 29.6 trillion yen to fund the package. In …
Japan cabinet approves spending package to ease inflation pain Read More »
(Reuters) – Chinese smartphone maker Xiaomi Corp is winding down its financial services business in India, TechCrunch reported on Friday, citing sources familiar with the matter. The company recently pulled its Mi Pay and Mi Credit apps in India from the local Play Store and its own app store, the report said. Three years after …
Xiaomi discontinues financial services business in India -TechCrunch Read More »
(Reuters) – Australia’s Macquarie Group reported a 12.8% rise in first-half profit on Friday as volatility in oil and gas prices bolstered its markets-facing business. The financial conglomerate’s attributable profit for the six months to Sept. 30 came in at A$2.31 billion ($1.49 billion), compared with A$2.04 billion reported a year ago. It beat a …
