HONG KONG (Reuters) – Hong Kong’s May retail sales fell 1.7% from a year earlier after a sharp increase the previous month, government data showed on Thursday. Sales eased to HK$29.1 billion ($3.71 billion), having jumped 11.7% in April. The government said that over April and May together there was a year-on-year increase of 4.7%. …
BEIJING (Reuters) – China opposes the blacklisting of Chinese firms by the United States and will take the necessary measures to protect them, the commerce ministry said on Thursday. U.S. President Joe Biden’s administration added five companies in China to a trade blacklist on Tuesday for allegedly supporting Russia’s military and defense industrial base, flexing …
China urges U.S. to stop sanctions on Chinese firms over allegedly supporting Russia Read More »
BANGKOK (Reuters) – Foreign visitors to Thailand are expected to number between 12 million and 16 million this year following the country’s full reopening, a private tourism group said on Thursday. Tourism business sentiment in the second quarter hit the highest level in six quarters, Chamnan Srisawat, president of the Tourism Council of Thailand, told …
Thai tourism group sees 12-16 million foreign visitors this year Read More »
SEOUL (Reuters) – South Korea’s Hyundai Motor Co and its two affiliates plan to jointly set up a company in the United States to explore businesses, Hyundai Motor said on Thursday. In May, Hyundai Motor Group said it plans to invest more than $10 billion in the United States by 2025 to strengthen collaboration with …
By Rozanna Latiff KUALA LUMPUR (Reuters) – Malaysia is expected to announce a plan for the sale of a 70% equity stake in the state-run 5G agency to six companies by next week, Communications and Multimedia Minister Annuar Musa said on Thursday. The Malaysian government had aimed to wrap up discussions on the stake sale …
Malaysia to announce plan for equity sale in 5G agency next week Read More »
TOKYO (Reuters) – More than 20% of Toshiba Corp shareholders voted against a dissident external director and two board directors from activist hedge fund investors, final voting results showed on Thursday. Such a level of opposition to company-backed candidates remains rare in Japan, although cases of rejection are on the rise as shareholder activism has …
Over 20% of Toshiba investors against activist fund execs, dissident director Read More »
SEOUL (Reuters) – South Korean manufacturers expected business conditions to deteriorate in July to the worst in one-and-a-half years, a central bank survey showed on Thursday. The Bank of Korea’s seasonally adjusted manufacturing business outlook index fell to 82 points in July from 85 in June, hitting the lowest since January 2021, the survey showed. …
S.Korean manufacturers’ sentiment in July sinks to lowest for 1-1/2 years – survey Read More »
By Hannah Lang WASHINGTON (Reuters) – The euro fell and the dollar rose on Wednesday after U.S. Federal Reserve Chairman Jerome Powell said the biggest risk to the U.S. economy is persistent inflation and not that interest rate hikes will slow the economy too much. Speaking at the European Central Bank Forum in Sintra, Portugal, …
Euro dives, dollar rises after Fed’s Powell reaffirms hawkish stance Read More »
By David Gaffen NEW YORK (Reuters) -Oil prices slid about 2% on Wednesday as a rise in U.S. gasoline and distillate inventories and worries about slower economic growth around the world offset ongoing concerns about tight crude supplies. Brent futures for August delivery fell $1.72, or 1.5%, to settle at $116.26 a barrel. The August …
Oil slides 2% on rising U.S. fuel stocks and output Read More »
By Medha Singh (Reuters) – Executives at electric car marker Tesla, drug maker Novartis and retailer Bed Bath and Beyond are cutting spending or jobs while others are shelving projects or deals as inflation rages and confidence in the world economy wanes. Manufacturing growth is slowing worldwide as China’s COVID-19 curbs and Russia’s invasion of …
Companies cut spending, jobs as outlook grows less certain Read More »
