BEIJING (Reuters) – Financial authorities in China’s central province of Henan said on Monday that they will begin from Aug. 30 to make another round of repayments to clients of four rural banks whose funds were frozen in what authorities said was a complex scam. Individuals with deposits of 400,000 yuan to 500,000 yuan ($57,819-$72,273) …
China to make repayments to more customers of rural banks Read More »
By Heekyong Yang and Joyce Lee SEOUL (Reuters) -South Korean officials will meet U.S. counterparts this week to express “concerns” about the Inflation Reduction Act, which restricts who can receive U.S. subsidies for the production of electric vehicles and where firms can source battery materials. President Joe Biden signed into law this month a $430 …
S.Korea to raise concerns about EV credits, battery sourcing in U.S. visit Read More »
By Ziyi Tang and Engen Tham SHANGHAI (Reuters) -Agricultural Bank of China Ltd (AgBank), the country’s third-largest commercial lender by assets, said net profit grew 5.5% year-on-year in the first half of 2022. Profit was 128.9 billion yuan ($18.63 billion) in the six months through to June, compared with 122.3 billion yuan in the same …
SINGAPORE (Reuters) – Singapore on Monday announced new work visa rules to woo foreign talent as the Asian financial hub looks to bolster its recovery from the COVID-19 pandemic. The measures include a new five-year visa for people earning at least S$30,000 ($21,445.42) a month that allows holders to job for multiple companies at one …
Singapore introduces new work visa rules to woo foreign talent Read More »
By Scott Murdoch and Tom Westbrook HONG KONG (Reuters) – Investors have cheered a breakthrough deal that promises U.S. regulators access to Chinese companies’ accounting paperwork but say markets will need to see successful inspections and economic recovery before much more money can be expected to move to China. At least in principle, the agreement, …
China audit deal offers relief but few reasons to invest Read More »
By John McCrank, Samuel Shen and Xie Yu NEW YORK/SHANGHAI (Reuters) – There was much relief for investors in U.S.-listed Chinese firms after Beijing and Washington struck a long-pending audit deal, but legal experts and China watchers warn the two sides could still clash over how the accord is interpreted and implemented. U.S. regulators have …
Analysis-U.S., China audit agreement not yet a done deal, lawyers warn Read More »
By Makiko Yamazaki TOKYO (Reuters) -Olympus Corp said on Monday it had agreed to sell its microscope unit to private equity firm Bain Capital for 427.6 billion yen ($3.1 billion), in what would be the Japanese company’s biggest divestment yet. The sale of the unit, which also makes industrial endoscopes and x-ray analysers, comes as …
Japan’s Olympus to sell microscope unit to Bain for $3 billion Read More »
JAKARTA (Reuters) -Indonesia will reallocate 24.17 trillion rupiah ($1.62 billion), or nearly 5%, of its fuel subsidy budget to social spending, including cash handouts to 20.65 million households, its finance minister said on Monday. The move comes amid reports that the government has been considering raising subsidised fuel prices to manage rising fiscal pressure due …
Indonesia to shift $1.6 billion portion of fuel subsidy budget to welfare programmes Read More »
By Ruma Paul DHAKA (Reuters) – Bangladesh is set import 500,000 tonnes of wheat at $430 a tonne from Russia in a government-to-government deal as it battles to secure supplies amid surging prices, two government officials with the direct knowledge of matter said on Sunday. The south Asian country, among importers hard-hit by disruption to …
Bangladesh set to import 500,000 T of wheat from Russia -sources Read More »
(Reuters) – Pakistan has secured financing that the International Monetary Fund required it to first arrange before considering a bailout deal worked out between IMF staff and the country, the Wall Street Journal reported on Sunday. The IMF board will meet later on Monday to take up Pakistan’s programme review to decide whether to approve …
Pakistan says it has secured financing needed for IMF bailout – WSJ Read More »
