Reuters Asia Business Archives - Page 2084 of 2133

Oil slumps to three-week low after Fed minutes, big IEA reserve release announcement

6 Apr 2022 6 Apr 2022

By David Gaffen NEW YORK (Reuters) -Oil futures fell sharply on Wednesday after large consuming nations said they would release oil from reserves to counter tightening supply and hawkish minutes from the U.S. central bank that bolstered the dollar. Selling accelerated into the close, leaving both the Brent and West Texas Intermediate benchmarks at their …

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Stocks hold declines, dollar gains after release of Fed minutes

6 Apr 2022 6 Apr 2022

By Caroline Valetkevitch NEW YORK (Reuters) – Stock indexes held losses on Wednesday after the Federal Reserve released minutes from its last meeting, showing details of the central bank’s balance sheet runoff, while the U.S dollar index hit its highest since late last May. The U.S. 2-year Treasury yield touched a session low after the …

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Nissan to invest $276 million in Brazil plant, new products

6 Apr 2022 6 Apr 2022

SAO PAULO (Reuters) – Nissan Motor Co on Wednesday said it will invest 1.3 billion reais ($276.12 million) in its plant in Resende in the Brazilian state of Rio de Janeiro and in launching new products between this year and 2025. The Japanese automaker’s announcement occurred during an event to launch a new version of …

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U.S. says China could face sanctions if it supports Russia’s war in Ukraine

6 Apr 2022 6 Apr 2022

By Michael Martina WASHINGTON (Reuters) – Sanctions imposed on Russia over its war in Ukraine should give China a “good understanding” of the consequences it could face if it provides material support to Moscow, U.S. Deputy Secretary of State Wendy Sherman said on Wednesday. Sherman said the “range of sanctions” and export controls coordinated among …

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Exclusive-China state refiners shun new Russian oil trades, teapots fly under radar -sources

6 Apr 2022 6 Apr 2022

By Chen Aizhu and Florence Tan SINGAPORE (Reuters) – China’s state refiners are honouring existing Russian oil contracts but avoiding new ones despite steep discounts, heeding Beijing’s call for caution as western sanctions mount against Russia over its invasion of Ukraine, six people told Reuters. State-run Sinopec, Asia’s largest refiner, CNOOC, PetroChina and Sinochem have …

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India says trying to stabilise economic transactions with Russia

6 Apr 2022 6 Apr 2022

MUMBAI (Reuters) – India’s foreign minister said on Wednesday the government is working to stabilise economic transactions with Russia, a day after India condemned killings of civilians in Ukraine and called for an independent probe. S.Jaishankar told lawmakers in the Parliament that Russia continues to be a critical economic partner and efforts were underway to …

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SOCAR gets preliminary approval for its planned IPO – Korea Exchange

6 Apr 2022 6 Apr 2022

(Reuters) – South Korean mobility platform SOCAR has received preliminary approval for its planned initial public offering (IPO), Korea Exchange said on Wednesday. SOCAR logged revenues of 285 billion won ($234 million) and an operating loss of 8.4 billion won in 2021. Launched in October 2011, the South Korean company provides various services including car …

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HSBC launches metaverse portfolio for wealthy Asian clients

6 Apr 2022 6 Apr 2022

SINGAPORE (Reuters) – HSBC Holdings has launched a fund to capture investment opportunities in the metaverse for its rich clients in Hong Kong and Singapore as financial services companies tap into Silicon Valley’s new virtual reality. In a statement on Wednesday, HSBC said its Metaverse Discretionary Strategy portfolio, managed by its asset management arm, will …

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Google-backed VerSe valued at $5 billion in latest funding round

6 Apr 2022 6 Apr 2022

NEW DELHI (Reuters) – India’s VerSe Innovation has raised $805 million in a funding round led by Canada’s top pension fund, putting a $5 billion valuation on the Google-backed parent of short-video app Josh and news aggregator Dailyhunt. The funding round saw participation from firms including Canada Pension Plan Investment Board, Ontario Teachers’ Pension Plan …

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Exclusive-India probes debt trustee units of SBI, Axis, IDBI on suspected fee cartel

6 Apr 2022 6 Apr 2022

By Aditya Kalra and Abhirup Roy NEW DELHI (Reuters) – India’s antitrust body is investigating the trustee units of State Bank of India, Axis Bank and IDBI Bank for suspected collusion on fees, triggering a lawsuit by a group representing them, documents seen by Reuters showed. Indian regulations mandate that companies raising debt appoint a …

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Reuters Asia Business﻿﻿

Reuters Asia Business