PARIS (Reuters) -France’s Danone said on Friday it would end its partnership with Chinese milk firm Mengniu by selling a 25% stake it holds in milk powder maker Yashili as well as a 20% joint venture participation. In return, Danone will acquire from Yashili 100% of the Dumex Baby Food infant milk unit. The different …
Danone reorganises Chinese assets, cuts ties with Mengniu Read More »
SHANGHAI (Reuters) -Tesla Inc is aiming to increase output at its Shanghai plant to 2,600 cars a day from May 16, it said in an internal memo seen by Reuters, as it seeks to restore production to levels before the city locked down to control COVID-19. Tesla, which is now only running one shift, plans …
Tesla targets pre-lockdown output in Shanghai by mid-May Read More »
BEIJING (Reuters) -China’s outstanding property loans totalled 53.22 trillion yuan ($7.96 trillion) at the end of the first quarter, up 6% from a year earlier, the central bank said in a statement on Friday. New property loans climbed to 1.05 trillion yuan in the first quarter from 770 billion yuan in the fourth quarter of …
China’s outstanding property loans up 6% y/y at end-Q1 Read More »
SINGAPORE (Reuters) -China’s fuel demand is expected to trend higher in 2022 despite a recent COVID-19 surge, with the economy forecast to expand at a reasonable rate, a senior official of PetroChina said on Friday. The comment came amid tough curbs on movement from early March in Chinese regions, such as the financial hub of …
PetroChina sees growth in China’s 2022 fuel demand despite COVID woes Read More »
By Maki Shiraki TOKYO (Reuters) – Japan’s airlines are betting on a travel recovery this summer after the COVID-19 doldrums, as many Japanese look to head overseas for the first time in years now that fully vaccinated residents no longer face quarantine curbs on their return. After encouraging demand for flights to Hawaii during a …
For Japan’s hard-hit airlines, demand for Hawaii flights offers glimmer of hope Read More »
BANGKOK (Reuters) – Thailand is aiming for 5-15 million foreign tourist arrivals this year as the country further eases travel restrictions to support the key tourism sector, a government spokesperson said on Friday. The tourists are expected to spend between 630 billion baht ($18.35 billion) and 1.2 trillion baht ($34.95 billion), Thanakorn Wangboonkongchana said in …
Thailand targets 5-15 million foreign tourists this year Read More »
MANILA (Reuters) – Philippine motorcycle enthusiast John Aldwin Bagabagon rode easier than many other local motorcyclists and drivers this year as domestic fuel prices surged to record levels. Bagabagon, 35, and his family are among 200,000 consumers turning to a homegrown app to secure credits for bulk fuel supplies at low prices, saving about 50% …
Philippine consumers use app to counter record retail fuel prices Read More »
By Isabel Kua SINGAPORE (Reuters) – Contaminated fuel supplied to some 200 ships in Singapore came from a tanker that loaded the oil from Khor Fakkan port in the United Arab Emirates, the Maritime and Port Authority of Singapore (MPA) said. MPA began investigations after it was notified on March 14 that a number of …
Singapore port authority says tainted ship fuel loaded from UAE’s Khor Fakkan Read More »
BANGKOK (Reuters) – Thailand plans to extend the existing scheme to support domestic travel to September from May in a bid to boost its vital tourism sector, the Thai Chamber of Commerce said on Friday. The plan, approved by a meeting of the country’s economic task force chaired by Prime Minister Prayuth Chan-ocha, includes a …
Thailand plans to extend support for domestic travel Read More »
TOKYO (Reuters) – Japan’s No.2 steelmaker, JFE Holdings Inc, expects its parent-only crude steel output to be around 26 million tonnes in the financial year just started, against 25.88 million tonnes a year earlier, Masashi Terahata, JFE Holdings’ executive vice president, said on Friday. The company is seeking to raise its product prices by around …
Japan’s JFE expects crude steel output in FY22/23 of 26 million tonnes Read More »
