By Daniel Leussink and Kantaro Komiya TOKYO (Reuters) – Japan’s factories posted a sharp fall in output in April as China’s COVID-19 lockdowns and wider supply disruptions took a heavy toll on manufacturers, clouding the outlook for the trade-reliant economy. Separate data showed retail sales posted the largest rise in nearly a year as consumers …
Japan’s April factory output slumps in sign of pressure on economy Read More »
BEIJING (Reuters) – China’s cabinet announced a package of 33 measures covering fiscal, financial, investment and industrial policies on Tuesday to revive its pandemic-ravaged economy, adding it will inspect how provincial governments implement them. The stimulus package, which was flagged by China’s State Council in a routine meeting last week, underscores Beijing’s shift toward growth, …
China announces detailed stimulus policies to support virus-hit economy Read More »
JAKARTA (Reuters) – Indonesia’s anti-monopoly agency on Tuesday called for tighter controls on how much palm oil plantation area a business group can operate, to reduce the risk of unfair competition in the downstream cooking oil industry. The agency known as KPPU has been investigating cartel practices in the cooking oil sector, which uses palm …
Indonesia anti-monopoly agency calls for control of palm oil plantation size Read More »
By Nia Williams (Reuters) -Oil prices climbed above $121 a barrel on Monday, hitting a two-month high as China eased COVID-19 restrictions and traders priced in expectations that the European Union will eventually reach an agreement to ban Russian oil imports. Trading activity was muted due to a public holiday in the United States. The …
Oil climbs above $121 a barrel as China eases restrictions, EU meets Read More »
By Danilo Masoni MILAN (Reuters) – World share markets rose on Monday and the dollar was anchored at five-week lows on bets of a possible slowdown in U.S. monetary tightening and after an easing of COVID restrictions in China. The gains built on last week’s rally, helping the MSCI’s benchmark for global stocks turn positive …
SHANGHAI (Reuters) – Tesla Inc has restored weekly output at its Shanghai plant to nearly 70% of the level which it had operated at before the city’s COVID-19 lockdown, according to two people familiar with the matter. The U.S. automaker, which added a second shift of workers in the middle of last week, is expected …
Tesla Shanghai plant restores weekly output to 70% of pre-lockdown level -sources Read More »
By Yoshifumi Takemoto and Tetsushi Kajimoto TOKYO (Reuters) – Japan’s government made no mention of a timeframe for balancing the primary budget in its draft mid-year annual long-term economic policy roadmap, two government sources with knowledge of the matter told Reuters. The government has previously pledged to achieve a primary budget surplus, which excludes new …
Japan govt drops timeframe for budget balancing target Read More »
SHANGHAI (Reuters) – China is using the digital yuan to stimulate consumption in its pandemic-hit economy, with more e-CNY applications expected in future to boost transparency and effectiveness of government policies. The southern city of Shenzhen started distributing 30 million yuan ($4.50 million) worth of free digital cash on Monday to revive consumption and aid …
China uses digital yuan to stimulate virus-hit consumption Read More »
By Panarat Thepgumpanat and Rajendra Jadhav BANGKOK (Reuters) -A pact between Thailand and Vietnam to raise rice prices would be “impossible”, a top Thai industry official said on Monday, amplifying opposition to a government-proposed plan for a rice cartel and questions over its viability. Thailand’s government said on Friday it planned with Vietnam to create …
Thai, Vietnam rice price hike plan ‘impossible’, Thai export body says Read More »
By Bernadette Christina JAKARTA (Reuters) -Indonesia has received its first requests for palm oil export permits following the lifting of a ban a week ago, some of which could be granted on Monday, a senior official said, signaling a calibrated resumption of shipments amid protracted delays. Though Indonesia, the world’s top palm oil producer, has …
Indonesia aims to issue first palm oil export permits since ban Read More »
