GMay 19 (Reuters) -Poland’s biggest clothing retailer LPP has decided to sell its Russian company RE Trading to a Chinese consortium, LPP said on Thursday, after holding talks with potential buyers. LPP’s decision will end the group’s operations in Russia after 20 years in the market. The company said in April that it had decided …
Poland’s LPP sells its Russian company to a Chinese consortium Read More »
By Bozorgmehr Sharafedin, Florence Tan and Chen Aizhu LONDON (Reuters) -Iran’s crude exports to China have fallen sharply since the start of the Ukraine war as Beijing favoured heavily discounted Russian barrels, leaving almost 40 million barrels of Iranian oil stored on tankers at sea in Asia and seeking buyers. U.S. and European sanctions imposed …
More Russian oil going east squeezes Iranian crude sales to China Read More »
By Neil Jerome Morales and Karen Lema MANILA (Reuters) -The Philippine central bank raised interest rates for the first time since 2018 on Thursday, joining peers around world in a rush to stem intensifying inflationary pressures that could derail the country’s economic recovery. The central bank also said the strong economic rebound and labour market …
Philippines kicks off rate hikes to curb inflationary pressures Read More »
SINGAPORE (Reuters) – Singapore’s financial sector is creating more jobs than local staff can fill and the city-state will lose its competitiveness and growth will be sub-par if it does not stay open to global talent, the head of the central bank said on Thursday. Foreign labour has long been a hot button issue in …
Singapore must remain open to global talent to stay competitive -central bank Read More »
TOKYO (Reuters) -JX Nippon Mining & Metals Corp, a unit of Japan’s oil and metals giant Eneos Holdings, said on Thursday its unit will sell its entire stake in South Korea’s copper smelter LS-Nikko Copper to its partner LS Corp for 930 billion won ($727 million). The exit comes as the Japanese company faces weakening …
JX Nippon Mining unit to sell South Korean smelter stake for $727 million Read More »
By Uditha Jayasinghe and Swati Bhat COLOMBO (Reuters) – Sri Lanka’s central bank governor said on Thursday he will stay on as head of the bank given an improvement in political stability in the midst of an economic crisis, and he would not step down as he had earlier said he would. Governor P. Nandalal …
Sri Lanka c. bank governor says sees more stability, to stay in post Read More »
By Stefanno Sulaiman and Gayatri Suroyo JAKARTA (Reuters) – Indonesia’s parliament on Thursday approved a government request to boost energy subsidies by about $23.8 billion to be able to keep some energy prices unchanged amid a global surge in inflation. Additional energy subsidies worth 74.9 trillion rupiah ($5.09 billion) were approved, as was additional compensation …
Indonesia pumps additional $24 billion into energy subsidies Read More »
By Scott Murdoch HONG KONG (Reuters) – Hong Kong’s new listings volume plunged 90% to a nine-year low this year, data showed, as China’s sharp economic slowdown and its regulatory drive cast a long shadow over the city’s prospects as a destination for initial public offerings (IPOs). The drying up of share listings in Hong …
Hong Kong new listings volume sinks to 9-year low on China slowdown Read More »
By Jihoon Lee and Cynthia Kim SEOUL (Reuters) – Reckoning they have little to lose with prices so ridiculously low, South Korean speculators in recent days have piled into Luna, a cryptocurrency that lost 99.99% of its value last week after its paired stablecoin TerraUSD collapsed. Both tokens are affiliated with Terra, a blockchain platform …
Crypto-loving S.Koreans bet on Luna rising from ashes, worrying regulator Read More »
SHANGHAI (Reuters) – China is expected to cut benchmark lending rates at its monthly fixing on Friday, a second reduction this year, a Reuters survey showed, as it seeks to prop up credit demand to cushion an economic slowdown due to COVID-19 disruptions. The loan prime rate (LPR), which banks normally charges their best clients, …
China seen lowering lending benchmark LPR to support economy:Reuters Poll Read More »
