Reuters Asia Business Archives - Page 1952 of 2133

China’s COFCO units to pay $3.3 million fine over cotton trades

21 Jul 2022 21 Jul 2022

(Reuters) – Chinese state-owned entities Chinatex Corporation Limited and COFCO Resources SA (CRSA) have agreed to pay total fines of $3.3 million over suspected rule violations in trading U.S. cotton futures and options contracts, ICE Futures U.S. said. Chinatex and CRSA, subsidiaries of Chinese state-owned agriculture conglomerate COFCO, agreed to the fines but neither admitted …

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Japan’s June ethylene output falls 6.5% yr/yr

21 Jul 2022 21 Jul 2022

TOKYO (Reuters) – Japanese ethylene production in June fell 6.5% year on year to 431,300 tonnes, data from the Japan Petrochemical Industry Association showed on Thursday. Ethylene, made from naphtha, is a basic feedstock for petrochemicals that are processed into products such as plastics. Following is a table of ethylene output volume in thousands of …

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Australian iron ore miners cautious on China’s plan to centralise buying

21 Jul 2022 21 Jul 2022

By Praveen Menon and Siyi Liu SYDNEY/BEIJING (Reuters) – China’s plan to centralise iron ore purchases has prompted questions whether the move could hit the bottomlines of global mining giants, such as Australia’s Rio Tinto and BHP Group. China, exposed to international prices of the steelmaking raw material as it must import nearly 80% of …

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China to keep real estate financial policy consistent, regulator says

21 Jul 2022 21 Jul 2022

BEIJING (Reuters) – China will keep real estate financial policies consistent and stable, the country’s banking and insurance regulator said on Thursday. An orderly property market will better meet the reasonable demand of housing purchases, an official of the China Banking and Insurance Regulatory commission (CBIRC) said. (Reporting by Beijing newsroom, Writing by Meg Shen; …

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China takes steps to ease up on regulatory crackdown as economy slows

21 Jul 2022 21 Jul 2022

(Reuters) -Chinese authorities imposed a $1.2 billion fine on ride-hailing firm Didi Global Inc, a move that signalled an end to a year-long probe into the ride-hailing firm’s cybersecurity practices. Here is a timeline of key events underscoring the easing of China’s regulatory crackdown since the beginning of this year: Feb. 10: China’s cyberspace watchdog …

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Biogen leans on new Alzheimer’s drug to calm investor worries

20 Jul 2022 20 Jul 2022

By Manas Mishra (Reuters) -Biogen Inc on Wednesday tried to assuage investor worries by laying out a plan for its Alzheimer’s disease drug being developed with Eisai Co Ltd and promising to draw lessons from the setbacks to its treatment Aduhelm. Biogen also disclosed that it had agreed to pay $900 million to resolve a …

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Earnings optimism helps boost stocks, dollar gains as ECB eyed

20 Jul 2022 20 Jul 2022

By Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stocks rose for a fourth straight day on Wednesday, buoyed by optimism over the early stages of the U.S. corporate earnings season, while the dollar edged up ahead of a rate decision by the European Central Bank on Thursday. Wall Street stocks were higher, …

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Dollar rises vs euro as traders eye ECB rate decision

20 Jul 2022 20 Jul 2022

By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar rose against the euro on Wednesday in a choppy session, but its gains were capped as traders were hesitant to drive big moves ahead of a crucial European Central Bank policy decision on Thursday. The single currency has rallied about 2% in the last three …

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UK blocks Chinese company from acquiring knowledge on vision sensing technology

20 Jul 2022 20 Jul 2022

LONDON (Reuters) – British business minister Kwasi Kwarteng on Wednesday said he had issued an order preventing the acquisition of intellectual property related to vision sensing technology by a Chinese company on national security grounds. The order, issued under the National Security and Investment Act, prevents Beijing Infinite Vision Technology Co. from buying the intellectual …

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Pakistan Finance Minister says rupee slide not due to economic fundamentals

20 Jul 2022 20 Jul 2022

By Syed Raza Hassan KARACHI, Pakistan (Reuters) – Pakistan’s finance minister on Wednesday blamed the rupee’s slide on political turmoil, saying he expects market jitters over the currency’s sharp decline to subside soon. The South Asian country recently passed through another bout of political instability, with the government of Prime Minister Shehbaz Sharif taking over …

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Reuters Asia Business﻿﻿

Reuters Asia Business