By Alex Lawler LONDON (Reuters) -OPEC on Tuesday cut its forecast for growth in world oil demand in 2022 citing the impact of Russia’s invasion of Ukraine, rising inflation as crude prices soar and the resurgence of the Omicron coronavirus variant in China. In a monthly report, the Organization of the Petroleum Exporting Countries (OPEC) …
OPEC cuts 2022 world oil demand forecast due to Ukraine war Read More »
By Satoshi Sugiyama and Maki Shiraki TOKYO (Reuters) – The weak yen was once a cause for celebration for Japanese companies, as they could sell cars and cameras cheaper abroad and enjoyed fatter profits when earnings were brought home. These days, it’s not so straightforward. After years of bolstering overseas production and supply chains, Japan’s …
Explainer-Why the weak yen lost its lustre for Japan Inc Read More »
TOKYO (Reuters) – Japan’s Securities and Exchange Surveillance Commission on Tuesday filed new criminal charges with Tokyo prosecutors against SMBC Nikko Securities, a former executive and three employees over alleged market manipulation. (Reporting by Makiko Yamazaki, editing by Ed Osmond)
SHANGHAI (Reuters) -German auto parts supplier Bosch on Tuesday said it has suspended production at two sites in the Chinese cities of Shanghai and Changchun as it follows government policies to contain a surge of COVID-19 cases. Bosch said it had paused production at a Thermotechnology factory in Shanghai and an automotive components site in …
Bosch halts production at two China plants due to COVID curbs Read More »
TOKYO (Reuters) – Japanese convenience store operator Lawson Inc is considering taking wholly owned supermarket chain Seijo Ishii Co public, it said on Tuesday. The Nikkei business daily earlier reported that Lawson was planning an IPO for Seijo Ishii by the 2023 financial year, potentially valuing the business at more than 200 billion yen ($1.59 …
Japanese retailer Lawson Inc considers Seijo Ishii IPO Read More »
By Joyce Lee and Josh Smith (Reuters) -Fourteen years after Ananti Inc’s tourist business in North Korea was suspended, the South Korean company has said it would write off assets worth about $41 million amid signs Pyongyang had started dismantling the facilities. Ananti will write off a golf course and a resort – valued at …
S.Korea’s Ananti closes book on N.Korea tourist facilities, writes off assets Read More »
By Samuel Shen and Selena Li SHANGHAI/HONG KONG (Reuters) – Global index-tracking fund managers with exposure to U.S.-listed Chinese firms are pushing index providers to swap into their Hong Kong-traded peers as delisting risks threaten to roil the $37 billion market for China-focused exchange-traded funds (ETFs). Washington is demanding complete access to the audit papers …
Global index funds seek to shift out of Chinese ADRs as delisting looms Read More »
By Joyce Lee and Byungwook Kim (Reuters) – South Korea’s SK Group said on Tuesday it was mulling investments in small-sized nuclear reactors and that one of the candidates was TerraPower, a U.S. venture founded by Bill Gates. A spokesperson for SK Inc, the holding company of the No. 3 conglomerate in South Korea, confirmed …
S.Korea’s SK weighs investing in small nuclear reactors, eyes Bill Gates’ TerraPower Read More »
By Supantha Mukherjee STOCKHOLM (Reuters) -Telecoms equipment maker Nokia is pulling out of the Russian market, its CEO told Reuters, going a step further than rival Ericsson, which said on Monday it was indefinitely suspending its business in the country. Hundreds of foreign companies are cutting ties with Russia following its Feb. 24 invasion of …
By Nidhi Verma, Nupur Anand and Chris Thomas NEW DELHI/MUMBAI/BANGALORE (Reuters) -India’s HDFC Bank and some foreign banks have stopped offering trade credit for oil imports to Nayara Energy, a Russian-backed refiner, and some suppliers are seeking payment upfront to avoid potential problems resulting from western sanctions against Moscow, four banking and industry sources said. …
Some banks stop credit for oil imports by Rosneft-owned India refiner Nayara -sources Read More »
