HANOI (Reuters) – Vietnam’s government has ordered technology firms to store their users’ data locally and set up local offices, its latest move to tighten cybersecurity rules. The new rules, issued in a decree on Wednesday, will apply to social media companies like Alphabet Inc.’s Google and Meta’s Facebook, and telecommunications operators, and will take …
Vietnam orders tech firms to store user data onshore Read More »
By Karen Brettell NEW YORK (Reuters) – The U.S. dollar index surged to a one-month high on Thursday as Federal Reserve officials spoke of the need for further rate hikes, and investors reevaluated Wednesday’s minutes from the U.S. central bank’s July meeting as being more hawkish than originally thought. The Fed needs to keep raising …
Dollar jumps as Fed officials say more rate hikes needed Read More »
By Scott DiSavino NEW YORK (Reuters) -Oil prices gained about 3% on Thursday as positive U.S. economic data and robust U.S. fuel consumption offset concerns that slowing economic growth in other countries could undercut demand. Brent futures rose $2.94, or 3.1%, to settle at $96.59 a barrel, while U.S. West Texas Intermediate (WTI) crude rose …
Oil up 3% on robust U.S. fuel consumption, tight supply outlook Read More »
By Uditha Jayasinghe and Waruna Cudah Nimal Karunatilake COLOMBO (Reuters) -Sri Lanka will ask Japan to invite the Indian Ocean island’s main creditor nations, including China and India, to talks on bilateral debt restructuring as it seeks a way out of its worst economic crisis in decades, its president said on Thursday. “Someone needs to …
By Mehr Bedi and Ananya Mariam Rajesh (Reuters) – Tapestry Inc and Estee Lauder Cos Inc forecast full-year earnings below estimates on Thursday, underscoring the hit global luxury goods companies are taking from China’s COVID-19 lockdowns. Major Chinese cities have imposed strict restrictions this year under Beijing’s zero-COVID policy, leaving companies that have substantial exposure …
Tapestry, Estee Lauder feel earnings pinch from China lockdowns Read More »
SHANGHAI (Reuters) -China’s Geely Automobile Holdings Ltd aims to increase the proportion of electric vehicles (EVs) in its total sales to 50% in 2023, as it accelerates a transition to electric power amid weakening demand for petrol-driven cars. Sales of pure electric and plug-in hybrids will already account for more than 30% of Geely’s monthly …
China’s Geely Auto grows EV ambition as fossil fuel vehicle demand sinks Read More »
SHANGHAI (Reuters) – Shanghai United Imaging Healthcare Co will start public trading next Monday, the company said, after raising roughly $1.6 billion in the biggest initial public offering (IPO) on Shanghai’s tech-focused STAR Market so far this year. The Chinese producer of CT scan and X-ray devices raised 10.99 billion yuan ($1.62 billion) in an …
China’s United Imaging debuts on Monday after biggest STAR Market IPO this year Read More »
By Engen Tham and Ziyi Tang SHANGHAI/BEIJING (Reuters) -China’s banking regulator is scrutinising property sector loan portfolios of some local and foreign lenders to assess systemic risks, sources with knowledge of the matter said, as the real estate sector’s debt crisis worsens. As part of their assessment, the China Banking and Insurance Regulatory Commission (CBIRC) …
Exclusive-China regulator probes banks’ property loan exposure – sources Read More »
SEOUL (Reuters) -South Korean auto parts maker Hyundai Mobis Co Ltd said on Thursday it was considering separating its modules and key parts production businesses into new wholly owned units in an effort to enhance each segment’s expertise and maximise efficiency. Hyundai Mobis, an affiliate of automaker Hyundai Motor Co, said in a regulatory filing …
S.Korea’s Hyundai Mobis aims to separate key businesses into new units Read More »
By Neil Jerome Morales and Karen Lema MANILA (Reuters) -The Philippine central bank raised its benchmark interest rates by half a percentage point on Thursday, as expected, and kept the door open for further hikes to bring inflation back within its target range. The Bangko Sentral ng Pilipinas (BSP) hiked the overnight reverse repurchase facility …
Philippine central bank hikes rates by 50 bps, keeps hawkish view Read More »
