By Clare Jim HONG KONG (Reuters) -China Evergrande Group was kicked off the Hong Kong stock exchange on Monday in one of the largest delistings by market value and volume in recent years and marking an end to what’s been a tumultuous boom-and-bust saga for its investors. Trading in shares in the world’s most indebted …
Delisting of once-loved Evergrande closes tumultuous chapter for investors Read More »
By Bernadette Christina JAKARTA (Reuters) -Indonesia urged the European Union on Monday to scrap countervailing duties on imports of biodiesel immediately, after the World Trade Organization backed several of Jakarta’s main claims in a complaint to the trade body. The world’s biggest palm oil exporter had contended in its 2023 complaint that the duties levied …
Indonesia urges EU to remove biodiesel import curbs after WTO ruling Read More »
HONG KONG (Reuters) -Lou Wenlong, the former vice president of China’s Agricultural Bank, was sentenced to life in prison over his role in accepting bribes, state broadcaster CCTV reported on Monday. (Reporting by Farah Master and the Beijing newsroom; Editing by Bernadette Baum)
(Reuters) -China Evergrande Group was delisted from the Hong Kong stock exchange on Monday, in one of the largest removals by market value and volume in recent years. Once China’s top-selling developer, Evergrande’s financial crisis became public in 2021. Since then, the developer and a string of its peers have defaulted on debt obligations amid …
From default to delisting of Evergrande, world’s most indebted developer Read More »
BEIJING (Reuters) -Chinese automaker Chery said on Monday it had shortened the average payment period to suppliers to an average of 47 days. The move alleviates suppliers’ financial pressure, the company said. China’s industry ministry said in July it would accept complaints from auto suppliers if major Chinese automakers fail to honor their commitment to …
Chinese automaker Chery reduces supplier payment time to 47 days on average Read More »
KUALA LUMPUR (Reuters) -FGV Holdings, one of the world’s biggest palm oil producers, said on Monday that its delisting from the Malaysian bourse will allow it to operate with greater agility and align more closely with its major shareholder. Its current operations, stakeholders’ commitments, and community-focused initiatives will continue as planned with no disruption to …
FGV Holdings says current operations will continue as planned after delisting Read More »
By Saeed Shah and Ariba Shahid ISLAMABAD (Reuters) -The Asian Development Bank will fund upgrades to part of Pakistan’s creaking railway system, replacing China, after prolonged delays in securing financing from Beijing threatened to put a strain on a strategic mining project, two sources said on Friday. An extensive revamp of 1,800 km (1,118 miles) …
Exclusive-ADB to back Pakistan rail upgrade as China financing stalls, sources say Read More »
(Reuters) -Startups worldwide are racing to develop new battery technologies using materials like sodium and sulfur or other innovative chemistries, aiming to cut costs and reduce reliance on some critical minerals to supply electric vehicles (EVs). China controls 85% of the global battery cell production, and 90% of processing of raw materials used in two …
Competing battery technologies shape the EV industry Read More »
KUALA LUMPUR (Reuters) -Malaysian builder Gamuda and clean energy solutions provider Gentari will work together to develop around 1.5 gigawatts of renewable energy capacity to meet the power needs of hyperscale data centre players in the country, they said on Monday. Through their subsidiaries Gamuda Energy and Gentari Renewables, the companies will develop solar photovoltaic …
Gamuda and Gentari to jointly develop 1.5 GW of renewable energy capacity Read More »
KUALA LUMPUR (Reuters) -A Malaysian court has granted a request by national energy firm Petronas and the Sarawak state-run company Petros for an adjournment in a case involving a dispute over gas rights in the state, Petronas said on Monday. The case in the High Court of Kuching, Sarawak, has been adjourned for one month …
Petronas says it will continue talks with Petros after court case adjourned Read More »
