By Josh Horwitz (Reuters) -A venture run by the founder of Chinese automaker Zhejiang Geely Holding said on Monday it will look to break uniformity in the smartphone industry, as it completed a purchase of a majority stake in handset brand Meizu. The deal by Hubei Xingji Shidai Technology Co Ltd, which was launched by …
Geely founder’s venture in smartphone push after Meizu stake buy Read More »
BANGKOK (Reuters) – Thai mobile operator, Advanced Info Service Pcl (AIS), plans to invest 32.4 billion baht ($908.84 million) to acquire Triple T Broadband and units held by the JASIF infrastructure fund, AIS said on Monday. “This acquisition will enhance consumer access … by improving broadband inclusion in new areas targeting the up-country and non-city …
Thailand’s largest telco AIS plans $900 million broadband expansion Read More »
BANGKOK (Reuters) – Thailand’s leading joint business group said on Monday the economy is expected to grow by 2.75% to 3.5% this year, rather than the 2.5% to 4.0% range it predicted earlier, taking into account higher inflation and a possible global recession. Headline inflation is now expected to average 5.0% to 7.0% this year, …
Thai business group revises 2022 GDP forecast, lifts inflation outlook Read More »
HANOI (Reuters) – Vietnam is aiming for economic growth of 7% this year, the country’s planning and investment minister said on Monday, higher than an official target of 6.0%-6.5% set previously. To achieve this, year-on-year economic growth in the third quarter needs to be 9.0% and in the fourth quarter 6.3%, minister Nguyen Chi Dung …
Vietnam targets 7% GDP growth this year – minister Read More »
TOKYO (Reuters) – Japan’s government has revised up its estimates of national tax revenue from the last fiscal year ended in March, as a weak yen and economic recovery from the pandemic helped boost big firms’ profits, a draft seen by Reuters showed on Monday. The fiscal 2021 tax revenue was likely to come to …
Japan FY2021/22 tax revenue seen revised up to record amount – draft Read More »
By Selena Li and Clare Jim HONG KONG (Reuters) – Chinese property developer Shimao Group has missed the interest and principal payment of a $1 billion offshore bond due on Sunday, in the latest blow to China’s embattled property market. The non-repayment was the first missed public offshore payment for the Shanghai-based developer. With an …
Chinese property developer Shimao misses repayment on $1 billion bond Read More »
By Yuka Obayashi TOKYO (Reuters) -Japanese mobile carrier KDDI Corp said it aimed to restore services Sunday evening after nationwide network troubles affected up to nearly 40 million users, making calls and getting online difficult for more than a day. The disruption, which started about 1:35 a.m. on Saturday (1635 GMT Friday), has affected a …
KDDI aims to restore service Sunday after 40 million users affected Read More »
TOKYO (Reuters) – A fire caused Japan’s biggest power generator JERA to shut down a 500 megawatt (MW) unit at its Chiba thermal power station near Tokyo on Saturday, raising fears of an electricity crunch as a prolonged heatwave keeps demand at high levels. The fire broke out around noon on Saturday near the steam …
Japan’s JERA says it shut down a 500 MW power plant due to fire Read More »
(Reuters) -Softbank-owned Fortress Investment Group has offered around 200 billion yen ($1.48 billion) to buy Japanese department store unit Sogo & Seibu from parent Seven & i Holdings, Nikkei reported on Sunday, citing sources. Fortress has obtained the first refusal right in the acquisition of Sogo & Seibu, amid investor pressure at Seven & i …
Softbank’s Fortress offers $1.5 billion to buy Japan’s Sogo & Seibu – Nikkei Read More »
JAKARTA (Reuters) -Indonesia proposed raising palm oil export quotas on Friday and is considering increasing mandatory levels of biodiesel in fuel mixes to prop prices for farmers at a time when domestic palm oil inventories are high, a senior minister said on Saturday. Palm oil inventories ballooned and mills limited purchases of fresh fruit bunches …
