HONG KONG (Reuters) -Hong Kong-headquartered lender Dah Sing Banking Group said its credit impairment in the first half of this year increased 34% year-on-year, as the weakening commercial property market in Hong Kong weighed on its balance sheets. The lender took nearly HK$780 million ($99.9 million) in credit charges for the first six months this …
Hong Kong lender Dah Sing says first-half credit charges surge 34% Read More »
By Amy Lv and Lewis Jackson BEIJING (Reuters) -China’s exports of rare earth magnets recovered to hit a six-month high in July, showing trade flows of the critical minerals key to electric vehicles have returned to levels seen before Beijing imposed export curbs. Exports from the world’s largest rare earth magnet supplier rose nearly 75% …
China’s rare earth magnet exports hit six-month high in July Read More »
BEIJING (Reuters) -China’s industry ministry will meet with solar firms on Wednesday and Thursday for further talks on how to rein in the their price war and deal with excess capacity in the sector, state-owned media outlet Yicai reported. The closed-door meetings will discuss measures to address overcapacity in the solar cell, module, silicon wafer, …
China’s industry ministry to meet solar firms for more price war talks, Yicai reports Read More »
By Rajendra Jadhav, Bernadette Christina and Ashley Tang MUMBAI/JAKARTA/KUALA LUMPUR (Reuters) -Prices of coconut oil are surging in Asia, where top consumer India leads the charge with a tripling in two years, as supply shortages and booming demand for the nutrient-rich water enclosed within turn the kitchen staple into a premium product. The edible oil …
Analysis-Humble coconut oil turns into a luxury on rising demand, shrinking output Read More »
By Siyi Liu SINGAPORE (Reuters) -Chinese refineries have purchased 15 cargoes of Russian oil for October and November delivery as Indian demand for Moscow’s exports falls away, two analysts and one trader said on Tuesday. India has emerged as the leading buyer of Russian seaborne oil, which has sold at a discount since some Western …
Chinese refiners sweep up Russian oil after Indian demand falls, analysts say Read More »
SHANGHAI (Reuters) -China kept benchmark lending rates unchanged for the third consecutive month on Wednesday, meeting market expectations, as authorities signalled they are in no rush to deliver monetary stimulus despite a string of recent disappointing economic data. WHY IT’S IMPORTANT The steady LPR fixings highlighted the central bank’s preference for targeted structural policies to …
China leaves benchmark lending rates unchanged, matching forecast Read More »
HONG KONG (Reuters) -Shanghai Bright Power Semiconductor has agreed to buy a 100% stake in a Chinese wireless charging chip maker for 3.28 billion yuan ($457 million), to further expand its products portfolio and enhance competitiveness, it said in a Shanghai stock exchange filing late on Tuesday. The Shanghai-listed firm said it would buy the …
Shanghai Bright Power plans to buy Chinese charging chip maker for $457 million Read More »
HONG KONG (Reuters) -China’s industry ministry said on Tuesday it held a meeting with solar industry representatives, the second in two months, as it urged the sector to strengthen regulations, curb overcapacity and reduce extreme competition among firms. Representatives at the meeting were told to “jointly promote the healthy and sustainable development of the industry”, …
China says solar sector needs to curb overcapacity Read More »
By Nandita Bose and Max A. Cherney WASHINGTON (Reuters) -U.S. Commerce Secretary Howard Lutnick is looking into the federal government taking equity stakes in computer chip manufacturers that receive CHIPS Act funding to build factories in the country, two sources said. Expanding on a plan to receive an equity stake in Intel in exchange for …
By Jamie McGeever ORLANDO, Florida (Reuters) -TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist Wall Street slumped on Tuesday, dragged down by weakness in some of the big tech companies that have led the charge to new highs this year, as investors hunker down ahead of a keynote …
