TOKYO (Reuters) – Japanese agricultural machinery company Kubota will spend 300 billion yen ($2.2 billion) to increase overseas production by 2030, the Nikkei newspaper reported on Monday. The company plans to build new manufacturing plants in the United States and India to raise the ratio of overseas production from roughly 30% to about 50%, the …
Japan’s Kubota to boost overseas production, Nikkei reports Read More »
BEIJING (Reuters) – Chinese banks extended 2.81 trillion yuan ($419.3 billion) in new yuan loans in June, up from May and beating analysts’ expectations, as the central bank sought to spur credit growth. Analysts polled by Reuters had predicted new yuan loans would rise to 2.40 trillion yuan in June from 1.89 trillion yuan the …
China’s June new bank loans rise to 2.81 trln yuan, beat expectations Read More »
TOKYO (Reuters) – Japanese Finance Minister Shunichi Suzuki will meet with U.S. Treasury Secretary Janet Yellen on Tuesday from 0445 GMT, the Ministry of Finance said on Monday. The two ministers would likely discuss coordination against the yen weakening and sanctions against Russia for its invasion of Ukraine as part of a broader agenda, officials …
Japan Finance Minister Suzuki to meet Treasury Secretary Yellen on Tuesday – MOF Read More »
SHANGHAI (Reuters) -A slump in commercial-vehicle demand led China’s automobile industry association on Monday to downgrade its sales forecast, as anti-pandemic measures weighed on the economy and its car market, the world’s largest. The industry will sell 27 million cars this year, up 3% on 2021, the China Association of Automobile Manufacturers forecast, cutting its …
China auto industry cuts 2022 outlook as commercial demand slumps Read More »
By Uditha Jayasinghe and Devjyot Ghoshal COLOMBO (Reuters) -Sri Lanka’s central bank governor signalled on Monday he would stay in the job but warned that prolonged political instability in the country may delay progress on negotiations with the International Monetary Fund for a bailout package. Governor P. Nandalal Weerasinghe, who has been holding bailout talks …
SEOUL (Reuters) – South Korean battery maker LG Energy Solution is set to supply batteries to Mahindra & Mahindra’s first electric sports utility vehicle (SUV), a source familiar with the matter said on Monday. The batteries will power the Indian automaker’s XUV400 SUVs, likely scheduled for delivery between the fourth quarter and January, the source …
S.Korea’s LG Energy Solution to supply batteries to India’s Mahindra -source Read More »
By Rachel Savage LONDON (Reuters) – African countries’ debts with China are a third of what they owe non-Chinese private lenders, while interest rates are just over half, according to a report published on Monday amid a debate about the role of the world’s largest bilateral creditor. Chinese public and private lenders accounted for 12% …
African states’ private debts three times that owed to China Read More »
MANILA (Reuters) – Okada Manila, the Philippine casino at the centre of a bitter drama-filled dispute about its ownership, saw improved business in June, its current management said. Foot traffic in June climbed 8% from a month earlier and was around 74% of its pre-pandemic level, it said in a statement, also saying that the …
Okada Manila casino, at centre of ownership dispute, reports better June traffic Read More »
BANGKOK (Reuters) – Thailand’s interest rate increases must not create too much of a burden on financial markets, the finance minister said on Monday, as the central bank is expected to tighten policy to tackle rising inflation. The government will discuss extending measures to support the property sector to help it become a key driver …
Thai rate hikes must not overly affect markets-Finance Minister Read More »
By Leika Kihara TOKYO (Reuters) – The death of Shinzo Abe, namesake of Japan’s “Abenomics” policy, makes any immediate challenge to his legacy highly unlikely but could eventually allow Prime Minister Fumio Kishida to phase out Abe’s government spending and monetary stimulus. In a rare act of political violence that shocked the nation, Japan’s longest-serving …
Analysis-Death of ‘Abenomics’ father may give Japan scope to curb stimulus Read More »
