ZURICH (Reuters) -Julius Baer is making a low-double-digit-million dollar equity investment in GROW, a China-based domestic asset management company, as part of a strategic alliance, the Swiss wealth manager said on Wednesday. “With this partnership, Julius Baer takes a first step into onshore China and at the same time, GROW’s clients will gain access to …
Julius Baer enters onshore China market with GROW partnership Read More »
BEIJING (Reuters) – China’s average interest rate for corporate loans stood at 4.05% at end-August, the lowest level on record, according to a statement by the country’s central bank on Wednesday. China will continue to strengthen the guiding role of credit policy and improve financial mechanisms to support the real economy, said the central bank. …
China’s average interest rate for corporate loans lowest on record at end-August Read More »
SHANGHAI (Reuters) – Chinese electric-car startup Nio is looking to grab a share of Europe’s growing market for electric vehicles by rolling out a battery leasing and swapping network to cut costs for users, its president told Reuters. Nio plans to build 1,000 battery swapping stations outside China by 2025, most of them in Europe, …
China’s Nio takes on BMW, Mercedes in home market with flexible battery plan Read More »
By Anshuman Daga and Yantoultra Ngui SINGAPORE (Reuters) – CVC Capital Partners has decided to sell its 25% stake in the toll road arm of China’s Road King Infrastructure Ltd as part of a deal that aims to value the unit at up to $3 billion, two sources with direct knowledge of the matter said. …
Exclusive-CVC, China’s Road King plan stake selldown in $3 billion toll business-sources Read More »
By Jamie Freed SINGAPORE (Reuters) – Singapore’s Changi Airport has avoided long lines and baggage handling problems that have plagued rivals in Europe, North America and Australia through tight coordination of capacity increases with airlines and suppliers, an executive said. The airport reached 56% of its 2019 passenger numbers in August and the government has …
Singapore airport working with airlines to avoid travel chaos as demand returns Read More »
KUALA LUMPUR (Reuters) – Malaysia’s economy will grow at a slower pace in 2023 compared to this year, finance minister Tengku Zafrul Aziz said in a statement on Wednesday. Zafrul cited slowing global growth, rising commodity and food prices, U.S.-China tensions and China’s strict COVID-19 containment measures that were affecting supply chains. Malaysia had earlier …
Malaysia says 2023 economic growth to be lower than 2022 Read More »
By Jamie Freed SINGAPORE (Reuters) – Labour shortages and supply chain snarls are making it harder for airlines and lessors to return airplanes grounded during the pandemic to the skies as quickly as they would like, operators and maintenance providers say. A global squeeze on maintenance, repair and overhaul (MRO) capacity is one of the …
Prices of airline tickets stay high as upkeep woes crimp fleets Read More »
DUBAI (Reuters) – The strength of the overall recovery in global airline passenger demand will be impacted if China continues to enforce tight border restrictions next year, the head of airline body IATA said on Wednesday. International Air Transport Association Director General Willie Walsh told a conference in Doha that China’s zero-COVID policy had “devastated” …
By Kitiphong Thaichareon BANGKOK (Reuters) – Thailand’s central bank is closely monitoring baht weakness to ensure it will not impact the economy, the finance minister said on Wednesday, as the Thai currency hit its lowest level in nearly 16 years. The central bank reported that capital movements had largely been normal, minister Arkhom Termpittayapaisith told …
Thai central bank to ensure weak baht won’t impact economy – Finance Minister Read More »
TOKYO (Reuters) – Forever 21 and American Eagle Outfitters Inc are set to return to Japan after both U.S. fast-fashion brands exited the market in 2019, according to company announcements on Wednesday. Forever 21 will begin e-commerce sales next February and open a physical store in the spring, according to Japanese trading company Itochu Corp, …
U.S. fashion brands Forever 21, American Eagle returning to Japan Read More »
