(This June 12 story officially corrects Russian delegate’s name in paragraph 4 after WTO mistake) By Philip Blenkinsop and Emma Farge GENEVA (Reuters) – World Trade Organization chief Ngozi Okonjo-Iweala expressed cautious optimism on Sunday that more than 100 trade ministers meeting in Geneva would achieve one or two global deals this week, but warned …
WTO chief warns of rocky road to deals amid ‘polycrisis’ Read More »
By Liz Lee, Rozanna Latiff and Mei Mei Chu KUALA LUMPUR (Reuters) – Malaysian companies from palm oil plantations to semiconductor makers are refusing orders and forgoing billions in sales, hampered by a shortage of more than a million workers that threatens the country’s economic recovery. Despite lifting a COVID-19 freeze on recruiting foreign workers …
Malaysia firms turn down orders as migrant labour shortage hits Read More »
By Byungwook Kim and Heekyong Yang SEOUL (Reuters) – A strike by South Korean truckers has cost key industrial sectors more than $1.2 billion in lost production and unfulfilled deliveries, the government estimated on Monday, as the damage spreads deeper throughout the economy. The strike, now in its seventh day, has forced steelmaker POSCO to …
South Korea Inc under mounting stress as truckers strike for a seventh day Read More »
SEOUL (Reuters) – Defiant South Korean truckers are considering blocking shipments of coal to power plants if the government doesn’t accept their demands for minimum pay guarantees, a senior union official told Reuters on Monday. The Cargo Truckers Solidairty Union is considering several options to up the ante including stopping the transportation of coal to …
S.Korea truckers union considers blockade of coal shipments to power plants Read More »
SEOUL (Reuters) -LG Energy Solution said on Monday it will invest 730 billion won ($567.76 million) to expand its production capacity at its Ochang production site in South Korea. The South Korean battery maker, which counts Telsa Inc, General Motors Co and Volkswagen AG among others as customers, said it planned to invest 580 billion …
LG Energy Solution to invest $568 million in South Korean factories Read More »
BERLIN (Reuters) – German trade with China in April was little affected by COVID-19 lockdowns and consequent disarray in supply chains, the Federal Statistics Office said on Monday. Germany imported goods worth 16.7 billion euros ($17.5 billion) from China in April, up 52.8% on a year earlier, said the statistics office. Importation of chemical products, …
German trade with China largely unaffected by lockdowns – stats office Read More »
By Bernadette Christina JAKARTA (Reuters) – Indonesian state power utility Perusahaan Listrik Negara (PLN) will impose big hikes in some electricity tariffs for the first time in five years, as rising global energy prices squeeze the budget in a country where the government subsidises power. Senior energy ministry official Rida Mulyana on Monday said tariffs …
Indonesia to raise electricity tariffs for some customers – official Read More »
BANGKOK (Reuters) – Thailand’s investment agency on Monday approved a joint venture worth 36.1 billion baht ($1.04 billion) between Taiwan’s Foxconn and Thailand’s PTT to produce batteries for electric vehicles. The Horizon Plus Co project one of several investment applications worth a total of 209.5 billion baht in manufacturing and infrastructure that were approved on …
Thailand approves $1 billion Foxconn-PTT EV battery JV Read More »
By Saikat Chatterjee LONDON (Reuters) – The Japanese yen fell past the psychological 135 line to levels against the U.S. dollar last seen in October 1998. The scale of the move has repercussions for the domestic economy as yen-based import prices are surging at a record annual pace, heaping pressure on household balance sheets. The …
Explainer-What are the consequences of the yen’s fall to a 24-year low? Read More »
(Reuters) -Thousands of South Korean truckers were on strike for the seventh day on Monday, protesting over pay as fuel costs surge, disrupting production, slowing port operations and posing new risks to a strained global supply chain. South Korean industries, including auto, steel, petrochemical and cement, faced accumulated losses worth about 1.6 trillion won ($1.2 …
Factbox-Impact of strike by South Korean truckers on autos, steel, others Read More »
