By Satoshi Sugiyama TOKYO (Reuters) -Toyota Motor Corp will halt production at its Russian factory from Friday while vehicle imports into the country have also stopped indefinitely due to supply chain disruptions, the automaker said. Toyota joins other Japanese automakers that have taken or flagged similar moves, also citing difficulty in procuring parts and other …
Toyota to suspend Russian car production, vehicle imports Read More »
LONDON (Reuters) – The euro plunged to its weakest since May 2020 on Wednesday as investors worried about the impact of an escalating conflict in Ukraine on the region’s economic prospects, while demand for dollars rose as nervous traders looked for safety. The common currency fell half a percent to as low as $1.1069. Adding …
Euro slides as investors fret Ukraine crisis will hit economy Read More »
BEIJING (Reuters) – China’s state planner on Wednesday urged coal miners and power plants to fulfil at least 80% of the signed medium- and long-term coal contracts each month, in order to ensure steady energy supply and market prices. The National Development and Reform Commission (NDRC) also said all these contracts will be recorded at …
China urges coal miners and utilities to fulfill term contracts Read More »
BEIJING (Reuters) -China will continue to push ahead with Ant Group’s rectifications, said China Banking and Insurance Regulator Chairman Guo Shuqing on Wednesday. Ant, an affiliate of Alibaba Group, has been subjected to a sweeping restructuring by China. The internet finance giant’s initial public offering was halted in less than 48 hours before it was …
Chinese regulator to continue to push ahead with Ant’s rectifications Read More »
SHANGHAI (Reuters) – China will soon approve the third batch of localities set to launch trials of its digital yuan currency, state-backed financial outlet Securities Times reported on Wednesday. According to the newspaper, a number of cities and regions have applied to authorities for permission to roll out testing of the digital yuan. Applicants include …
China set to approve 3rd batch of localities for digital yuan trials – state media Read More »
BEIJING (Reuters) – China’s central bank said on Wednesday it will step up the counter-cyclical adjustment function of its macro prudential management system. It will also further expand its tool-box of macro prudential policies and step up monitoring, assessment and warning of systemic risks, according to a statement on the website of the People’s Bank …
China central bank says it will step up counter-cyclical adjustments Read More »
By Mohi Narayan NEW DELHI (Reuters) – Asia’s naphtha margins soared to record levels as supplies from Russia are expected to drop due to aggressive Western sanctions imposed on Moscow following its invasion of Ukraine, analysts and traders said. The drop in Russian supplies is expected to affect Asian importers such as South Korea, prompting …
Russia disruption fears push Asia naphtha margins to record peak Read More »
By Heekyong Yang and Joyce Lee SEOUL (Reuters) -South Korea’s Hyundai Motor Co said on Wednesday it planned to invest about 95.5 trillion won ($79.21 billion) through 2030, including about 19.4 trillion won ($16.10 billion) towards electric vehicle (EV) related businesses. Hyundai Motor, which together with affiliate Kia Corp is among the world’s top 10 …
S.Korea’s Hyundai Motor plans to invest $16 billion in EV push Read More »
By Makiko Yamazaki and Junko Fujita TOKYO (Reuters) -Toshiba Corp said on Tuesday CEO Satoshi Tsunakawa has resigned – a sudden departure that comes after sources said revised restructuring plans sparked opposition within the company in addition to long-standing anger from shareholders. New interim CEO Taro Shimada said, however, that the company would continue to …
Toshiba CEO suddenly resigns amid opposition to restructuring plans Read More »
BEIJING (Reuters) – China does not want to see sharp adjustments in property prices as they would hurt its economy, the chairman of the banking and insurance regulator, Guo Shuqing, told a news conference on Wednesday. Some adjustments in prices were good for the financial sector, however, he added, and the trend of property bubbles …
China does not want sharp adjustments in property prices – banking regulator Read More »
