MEXICO CITY (Reuters) – Executives for London-based HSBC, which controls one of the largest banking operations in Mexico, have told investors the chain is not interested in buying out Citigroup’s consumer bank in the country, known as Banamex. “No, we’re not looking to acquire in Mexico,” Group Chief Executive Noel Quinn said in a call …
HSBC ‘not looking to acquire’ Citi’s Mexico consumer bank Read More »
By Chuck Mikolajczak NEW YORK (Reuters) – The U.S. dollar was little changed in choppy trading on Wednesday as investors digested the latest developments in the Ukrainian crisis after a host of countries announced sanctions against Russia for ordering troops into separatist regions of its neighbor. The United States and allies unveiled more sanctions against …
Dollar flat in choppy trade with focus on Ukraine; Kiwi climbs on central bank hike Read More »
By Tommy Wilkes LONDON (Reuters) – Emerging market borrowing led by China inflated the global debt mountain to a record $303 trillion in 2021, although the global debt-to-GDP ratio improved as developed economies rebounded, the Institute of International Finance said on Wednesday. The $10 trillion rise in the global debt pile was down from the …
Emerging markets drive global debt to record $303 trillion – IIF Read More »
MILAN (Reuters) – Italian luxury yacht maker Ferretti is aiming to list in Hong Kong at the end of March through an initial public offering that could be worth between $400 million and $500 million, three people close to the matter said on Wednesday. The group, which is controlled by Chinese conglomerate Weichai Group, is …
Italy’s Ferretti readies end-March Hong Kong listing – sources Read More »
By Brenda Goh SHANGHAI (Reuters) -Third-quarter profit jumped 62% to an all-time high of $640 million at China’s Lenovo Group, the world’s biggest maker of personal computers said on Wednesday, as the growing popularity of hybrid work arrangements boosts demand for PCs. Revenue for the quarter ended Dec. 31 rose 17% to $20.1 billion, also …
Hybrid work trend drives PC maker Lenovo’s Q3 profit to record high Read More »
(Reuters) – The United Arab Emirates plans to order 12 L-15 light attack planes from China, with the option of purchasing 36 more, the UAE state news agency WAM reported on Wednesday. The purchase is part of the oil-rich Gulf state’s efforts to diversify weapon suppliers, it said, citing a defence ministry statement. The UAE …
UAE to order 12 L-15 planes from China as it diversify suppliers – news agency Read More »
By Twinnie Siu and Donny Kwok HONG KONG (Reuters) -Hong Kong will offer tax breaks, handouts and subsidies to small businesses and residents, to mitigate the impact of the most stringent social restrictions imposed in the city to curb the spread of COVID-19, Finance Secretary Paul Chan said. The 2022/23 budget proposals were announced as …
Hong Kong budget offers COVID relief with tax breaks, handouts Read More »
SHANGHAI/BEIJING (Reuters) -Cash-strapped Chinese developer Zhenro Properties plans to extend maturity of other onshore and offshore debt, and dispose of assets worth up to 4 billion yuan ($632.73 million) in the first half, three sources with knowledge of the matter. Zhenro told investors in a call on Wednesday the debt it will seek extensions include bank loans …
Zhenro Properties plans to sell assets worth up to $644 million in first half -sources Read More »
SHANGHAI (Reuters) – Tesla Inc plans to expand parts production at its Shanghai factory to meet growing demand for exports, according to a document it filed with the city government. The automaker will add production workshops, increase the number of workers and lengthen the time equipment is operational, the document. Exact figures were redacted from …
Tesla to expand parts production in Shanghai to meet export demand -document Read More »
By Min Zhang and Dominique Patton BEIJING (Reuters) -Chinese authorities will prevent “excessive hoarding” of iron ore and guide port firms to ensure that traders of the commodity bring inventories back to a reasonable level as soon as possible, the powerful state planner said on Wednesday. The decision follows a symposium called by the National …
China to prevent ‘excessive hoarding’ of iron ore to cool prices Read More »
