HONG KONG (Reuters) – Hong Kong’s economy contracted 1.3% in the second quarter from the same period a year earlier, government data showed on Friday, following a weak performance in external trade during the period. It was the second straight quarter of year-on-year contraction for the Asian financial hub’s gross domestic product (GDP). Seasonally adjusted …
Hong Kong’s Q2 GDP shrinks 1.3% y/y; govt cuts 2022 forecast Read More »
By Rajendra Jadhav MUMBAI (Reuters) – India’s palm oil imports in July fell 10% from a month ago, as refiners ramped up purchases of rival soyoil to take advantage of New Delhi’s move to allow duty-free imports of the vegetable oil to calm all-time high prices, a trade body said on Friday. Higher soyoil purchases …
India’s palm oil imports fall in July as soyoil jumps to record high Read More »
JAKARTA (Reuters) – Indonesians must prepare for a potential hike in fuel prices as the government looks to control its ballooning energy subsidies amid high global oil prices, a cabinet minister said on Friday. Southeast Asia’s largest economy has tripled this year’s energy subsidy budget to 502 trillion rupiah ($34.22 billion) in order to keep …
Indonesians must prepare for a potential fuel price hike, minister says Read More »
(Reuters) – The founder of China’s Huobi Group, which runs one of the world’s largest cryptocurrency exchanges, is in talks with investors to sell his almost 60% stake in the exchange for over $1 billion, Bloomberg News reported on Friday. Leon Li’s stake sale would value Huobi between $2 billion and $3 billion, and could …
China’s Huobi founder looks to sell stake for over $1 billion- Bloomberg News Read More »
BEIJING (Reuters) – Two officials at Henan’s banking regulator are under investigation for suspected violations of law and discipline, China’s top banking and insurance regulator said on Friday. (Reporting by Beijing Newsroom; Editing by David Goodman)
SHENZHEN, China (Reuters) – Huawei Technologies said on Friday its first-half net profit more than halved as a difficult economy curtailed demand from customers, compounding woes brought by U.S. technology restrictions. Revenue dropped 5.9% year-on-year during the period to 301.6 billion yuan ($44.73 billion), with a sharper decline during January-March. “While our device business was …
China’s Huawei says first-half profit drops 52% as demand weakens Read More »
JAKARTA (Reuters) – An interest rate hike will not be Bank Indonesia’s first choice at this juncture, the central bank’s deputy governor told the Reuters Global Markets Forum on Friday, even as the country’s headline inflation rate rose to a 7-year high. “We have room to increase the policy rate … But at this juncture, …
Indonesia central bank: rate hike not first choice at this juncture Read More »
TOKYO (Reuters) – Japanese vehicle maker Hino Motors Ltd and its parent, Toyota Motor Corp, have been accused of historical misconduct in a class action lawsuit brought in the United States, Hino said on Friday. The case, in the Southern District of Florida, has been filed on behalf of those who bought or leased 2004-2021 …
Japan’s Hino Motors, Toyota accused of misconduct in U.S. lawsuit Read More »
(Reuters) – Foreigners turned net buyers of Japanese stocks in the week ended Aug. 5 as a batch of upbeat corporate earnings reports boosted sentiment. Overseas investors bought Japanese stocks worth a net 336.86 billion yen ($2.53 billion) last week, after disposing of 150.18 billion yen in the previous week, data from exchanges showed. GRAPHIC: …
Foreigners net buyers of Japanese stocks in the week to Aug 5 after a weekly sale Read More »
By Clare Jim and Xie Yu HONG KONG (Reuters) – A group of property developers in the eastern Chinese city of Hefei urged the local government this month to crack down on what they described as “malicious protests” by homebuyers, according to a joint letter reviewed by Reuters. The letter is one of the first …
Property developers in China’s Hefei urge curb on ‘malicious protests’ Read More »
