By Engen Tham SHANGHAI (Reuters) – Three banks in China’s central Henan province have frozen at least $178 million of deposits, offering scant information on why or for how long, leaving firms unable to pay workers and individuals locked out of savings, depositors told Reuters. Yu Zhou Xin Min Sheng Village Bank, Shangcai Huimin Country …
Chinese depositors left in dark as three local banks freeze deposits Read More »
BANGKOK (Reuters) – Thailand’s industries sentiment index dropped to a five-month low in April, hit by higher production costs as Russia’s invasion of Ukraine pushed up the price of energy and raw materials, an industries group said on Wednesday. The Federation of Thai Industries (FTI) said its industries sentiment index fell to 86.2 last month …
Thai industrial confidence at five-month low as costs rise Read More »
TOKYO (Reuters) -A major water leak in central Japan on Wednesday disrupted supply to more than 130 businesses near the production centre of Toyota Motor Corp. The accident in Japan’s manufacturing heartland threatened interruptions at major auto firms and power companies. A Toyota spokesperson said the company was using well water at its factories to …
Central Japan water leak affects plants near Toyota hub Read More »
SHANGHAI (Reuters) – China is in talks with automakers about extending costly subsidies for electric vehicles (EV) that were set to expire in 2022, aiming to keep a key market growing as the broader economy slows, three people familiar with the matter said. The move by policymakers comes as the world’s second-biggest economy has slowed …
Exclusive: China in talks with automakers on EV subsidy extension – sources Read More »
By Sonali Paul BRISBANE (Reuters) – Inpex Corp, Japan’s top oil and gas producer, wants to to grow in Australia through expansion of its liquefied natural gas (LNG) output as well as hydrogen and nature-based carbon offset projects, a senior executive said on Wednesday. Inpex’s $40 billion Ichthys LNG project and stakes in other gas …
MANILA (Reuters) – The space for maintaining the Philippine central bank’s accommodative monetary policy has narrowed and authorities stand ready to make adjustments, its governor said on Wednesday, in remarks a day ahead of the monetary authorities’ policy meeting. The Bangko Sentral ng Pilipinas (BSP) is expected to raise the overnight reverse repurchase facility rate …
Space narrowing for keeping Philippines’ accommodative policy, cbank chief says Read More »
By Krishna N. Das NEW DELHI (Reuters) – Indian air conditioner manufacturers are expecting record sales this year as a heatwave scorches most of the country, an industry body told Reuters, but delayed arrivals of components from COVID-hit China may cause shortages of premium products. With temperatures this month breaching 49 degrees Celsius in New …
India’s heatwave to lift AC sales to record, but supplies from China delayed Read More »
LONDON (Reuters) – Climate change is hurting the insurance industry and only 8% of insurers are preparing adequately for its impact, consultants Capgemini and financial industry body Efma said in a report on Tuesday. Insured losses from natural catastrophes have increased 250% in the last 30 years, with perils such as wildfires and storms, seen …
By Herbert Lash NEW YORK (Reuters) – Global equity markets rallied and Treasury yields rose on Tuesday, as solid U.S. retail sales in April suggested economic growth might strengthen, as did an easing of China’s lockdowns to contain the COVID-19 pandemic. U.S. retail sales rose 0.9% last month while data for March was revised higher …
Shares rebound, Treasury yields rise on stronger data Read More »
By Stephanie Kelly NEW YORK (Reuters) – Oil prices slumped 2% on Tuesday, after rising earlier in the session to seven-week highs, on news that the United States would ease some restrictions on Venezuela’s government. Prices deflated further following comments from Federal Reserve Chair Jerome Powell that there could be some economic pain involved to …
