By Leika Kihara TOKYO (Reuters) -Japan’s wholesale inflation slowed in January but hovered near the record pace hit in November, data showed on Thursday, a sign persistently high raw material costs were prompting more firms to raise prices. While the mounting cost pressure could push up consumer inflation in coming months, it risks hurting a …
Japan’s wholesale inflation near record pace on commodity spike Read More »
TOKYO (Reuters) – Japan’s top currency diplomat, Masato Kanda, will travel to Indonesia to take part in a February meeting of the Group of 20 major economies, Japanese finance minister Shunichi Suzuki said on Thursday. “I have decided to send Vice Minister of Finance for International Affairs Kanda to the site and join the discussion …
Japan to send top currency diplomat to February G20 meeting, finance minister says Read More »
TOKYO (Reuters) -Japan’s biggest oil and gas explorer, Inpex Corp, said on Wednesday it would invest up to 4.4 trillion yen ($38 billion) in growth areas over the next 9 years, with 1 trillion to be spent on decarbonisation, including hydrogen and ammonia. “As a pioneer in energy transformation, we aim to provide a stable …
Japan’s Inpex to invest up to $38 billion in growth areas over 9 years Read More »
By Yuka Obayashi and Marwa Rashad TOKYO/LONDON (Reuters) -Japan will divert some liquefied natural gas (LNG) cargoes to Europe after requests from the United States and the European Union, the industry minister said on Wednesday, a step that aligns the country with the West as tensions flare with Russia. Concern has mounted over the possible …
Japan to divert LNG to Europe amid Russia-Ukraine tension Read More »
By David Gaffen NEW YORK (Reuters) -Oil prices rallied on Wednesday after U.S. crude inventories dropped by nearly 5 million barrels and fuel demand rose to an all-time high, underscoring the market’s ongoing tightness. Brent crude futures settled up 77 cents, or 0.9%, to $91.55 a barrel. U.S. West Texas Intermediate crude (WTI) ended up …
Oil rallies on big drawdown in U.S. crude stocks, strong demand Read More »
(Reuters) – Volkswagen’s works council chief Daniela Cavallo said the carmaker must do more to understand the Chinese market in order to capture greater market share, after missing its electric vehicle sales targets in the country last year. “Volkswagen must get its act together in China and understand customers’ needs better, particularly in software,” Cavallo …
Volkswagen labour chief takes company to task on China, in FAZ interview Read More »
BERLIN (Reuters) – Bosch CEO Stefan Hartung expects the chip shortage to lessen significantly in the second half of this year, he said at a press conference on Wednesday, adding he hoped businesses could operate as normal by 2023. The world’s largest autos supplier must boost its software capabilities while limiting redundancies among the 80,000-odd …
Bosch CEO expects chip shortage to ease, hopes for return to normal by 2023 Read More »
HONG KONG/SHANGHAI (Reuters) -China Evergrande Group needs to clear its debt by fully restoring construction and sales activities and not by selling off assets on the cheap, its chairman told an internal meeting, vowing to complete 50% of pre-sold homes this year. Hui Ka Yan told staff in a Sunday meeting that the firm aimed …
Evergrande aims to deliver 600,000 apartments in 2022, says no fire sales Read More »
By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka’s central bank said on Wednesday the country was committed to honouring all forthcoming debt obligations, adding that the island nation was not on the verge of a sovereign default. Sri Lanka is facing its worst financial crisis in decades, and foreign exchange reserves have fallen to $2.36 billion, …
Sri Lanka default rumours “totally unsubstantiated,” says central bank Read More »
MOSCOW (Reuters) – Russia’s largest mobile operator MTS on Wednesday said it had signed a deal with South Korea’s KT Corp to develop data centres, AI-based solutions and media content projects. MTS is one of several Russian companies developing services beyond its core business, including MTS Bank, e-commerce and streaming service KION. In December it …
Russia’s MTS, Korea’s KT Corp to partner on data centres, AI Read More »
