By Joyce Lee and Heekyong Yang SEOUL (Reuters) -South Korean display panel maker LG Display Co said on Wednesday it swung to a second-quarter loss from a profit a year earlier, as inflation and interest rate hikes undercut demand for panels used in TVs and gadgets. The Apple Inc supplier said it expected only a …
LG Display reverses into loss as inflation ends COVID-fuelled demand surge Read More »
By Bernadette Christina JAKARTA (Reuters) – Indonesia on Wednesday launched road tests for two types of biodiesel containing 40% palm oil, hoping to conclude by the end of the year whether they are viable for public use, the energy ministry said. The government currently mandates that all diesel sold in the country must contain 30% …
Indonesia runs road test for biodiesel with 40% palm oil Read More »
SHANGHAI (Reuters) – The Hong Kong Monetary Authority (HKMA) expanded the size of its Renminbi Liquidity Facility from Wednesday, while extending operating hours of the overnight repo, in a bid to further facilitate the offshore yuan businesses in the financial hub. Under the new arrangement, the intraday and overnight quota offered by the de facto …
Hong Kong doubles size of yuan liquidity facility, extending hours Read More »
By Jihoon Lee and Choonsik Yoo SEOUL (Reuters) -South Koreans’ inflation expectations hit their highest in at least 20 years this month and consumer confidence fell to a two-year low, a survey showed on Tuesday, as a central bank board member pointed to risks to economic growth. In the Bank of Korea’s (BOK) July survey, …
S.Korean inflation expectations hit 2-decade high Read More »
By Heekyong Yang and Jihoon Lee SEOUL (Reuters) -Tesla supplier LG Energy Solution Ltd (LGES) said on Wednesday it was looking at sites in Europe for a new battery plant and would ramp up production in Asia outside of China, where COVID lockdowns and rising costs were weighing on profits. The South Korean firm, which …
S.Korea’s LGES plans new EV battery plant in Europe Read More »
MILAN (Reuters) – Italy’s antitrust authority said on Wednesday it had opened an investigation against Samsung in Italy and two other companies over alleged misleading and aggressive commercial practices. The regulator said it was looking into the deals offered by the companies to customers seeking to buy new mobile phones while selling their used devices …
Italy’s antitrust probes Samsung over alleged unfair commercial practices Read More »
By Donny Kwok, Clare Jim and Scott Murdoch HONG KONG (Reuters) -Country Garden Holdings Co Ltd said on Wednesday it plans to raise HK$2.83 billion ($360.23 million) from a share sale to refinance offshore debt, sending Hong Kong-listed shares of the Chinese developer and the wider property sector tumbling. The transaction comes after a rally …
China’s Country Garden plans $360 million share sale to refinance debt Read More »
JAKARTA (Reuters) – Japanese carmaker Toyota Motor Corp plans to invest 27.1 trillion rupiah ($1.80 billion) in Indonesia in the next five years to produce electric vehicles (EVs), Indonesia’s economics ministry said on Wednesday. The Southeast Asian country aims to become a global hub for producing and exporting EVs through processing its rich supplies of …
Toyota plans $1.8 billion Indonesia investment to build electric vehicles Read More »
By Anshuman Daga and Yantoultra Ngui SINGAPORE (Reuters) – Singapore sovereign wealth fund GIC, one of the world’s biggest investors, is bracing for muted investment returns and expects little respite from runaway inflation that has forced central banks around the world to tighten policy. “Inflation itself is already a problem because we want to generate …
Singapore’s GIC flags market risks; inflation here to stay Read More »
By Sinéad Carew NEW YORK (Reuters) – Wall Street equities fell and U.S. Treasuries rallied on Tuesday a day before a likely Federal Reserve rate hike as investors grappled with growing economic concerns after retail giant Walmart Inc’s profit warning and signs of a looming gas supply crisis in Europe. The bid for safety also …
Stocks fall, bonds rise as investors seek safety Read More »
