CHICAGO (Reuters) – Why are food prices rising? Global food prices started to rise in mid-2020 when businesses shut down due to the COVID-19 pandemic, straining supply chains. Farmers dumped out milk and let fruits and vegetables rot due to a lack of available truckers to transport goods to supermarkets, where prices spiked as consumers stockpiled …
Why are food prices going up? Key questions answered Read More »
(Reuters) – Alibaba Group Holding has laid off about 40% of the staff in its Russian joint venture as the ongoing Ukraine crisis disrupts cross-border business, the Nikkei reported on Friday. The Chinese e-commerce giant could not be immediately reached for comment. Citing an employee with knowledge of the matter, the report said it was …
Alibaba lays off 40% of AliExpress Russia staff amid Ukraine war – Nikkei Read More »
By Noah Browning LONDON (Reuters) – The world will not be left short of oil even with lower output from sanctions-hit Russia, the International Energy Agency (IEA) said on Thursday, after it cut its predictions for supply losses from the world’s No.2 exporter for the second straight month. The IEA is now forecasting that 1 …
IEA sees world weathering lost Russian oil supply Read More »
By Byungwook Kim SEOUL (Reuters) – South Korea was the first country to launch a fifth-generation mobile network in 2019, heralding a warp-speed technological transformation to self-driving cars and smart cities. Three years on, the giddy promises are unfulfilled. Some 45% of the country’s people are now on 5G, one of the highest rates globally, …
Analysis: South Korea’s high-speed 5G mobile revolution gives way to evolution Read More »
(Reuters) – U.S. energy company Chevron Corporation and Indonesia’s state energy company PT Pertamina have signed a deal to explore lower carbon business opportunities in Indonesia, the companies said in a statement late on Thursday. Chervron signed the deal through its subsidiary, Chevron New Ventures Pte. Ltd, and is looking at potential businesses in new …
Chevron, Pertamina to explore lower carbon opportunities in Indonesia Read More »
SEOUL (Reuters) – Samsung Electronics is in talks with clients about hiking prices for chip contract manufacturing by up to 20% this year, Bloomberg reported on Friday. The move, expected to be applied from the second half of this year, is part of an industry-wide push to raise prices to cover rising materials and logistics …
Samsung in talks to hike chipmaking prices by up to 20% – Bloomberg Read More »
By Syed Raza Hassan KARACHI, Pakistan (Reuters) – Remittances from Pakistani workers employed abroad exceeded a record $3 billion in April, the central bank said on Friday as the country’s foreign reserves dwindled to $16.37 million due to external debt payments. “Remittances in April (were) $3.1 billion…, crossing $3 billion for the first time ever,” …
Pakistan’s remittances hit all-time monthly high of $3 billion in April Read More »
SHANGHAI (Reuters) -China’s market regulator said on Friday it had launched an antitrust investigation into the country’s largest online academic database, the China National Knowledge Infrastructure (CNKI). The State Administration for Market Regulation published the announcement on its website. It did not provide further details. CNKI, whose parent company is Tsinghua Tongfang, a Chinese state-owned …
China launches antitrust probe into country’s largest academic database Read More »
By Satoshi Sugiyama TOKYO (Reuters) -Japan’s Honda Motor on Friday forecast a steeper-than-expected 7% fall in annual earnings and warned that the long chip crunch and rising raw material costs were hurting profit, echoing comments from rivals Toyota and Nissan. Global automakers such as Honda have slashed production due a severe shortage of semiconductors, and …
Honda warns of rising costs, forecasts weaker annual profit Read More »
HONG KONG (Reuters) – Hong Kong’s economy shrank 4% in the first quarter from the same period a year earlier, government data showed on Friday, ending four quarters of recovery as the city imposed its most stringent measures to curb an outbreak of COVID-19. The data compares with a growth of 4.7% in the fourth …
