By Selena Li HONG KONG (Reuters) -Citigroup Inc will reduce the number of employees at two of its technology centres in China by about 3,500, the bank said on Thursday, as it pushes to simplify and shrink global tech operations to improve risk and data management. The reduction of staff at the China Citi Solution …
Citi to cut 3,500 tech jobs in China in global revamp Read More »
(Corrects paragraph 5 to say “implementation” instead of “mention”) BEIJING (Reuters) -China has introduced a tracking system for its rare earth magnet sector, three sources said, as its export restrictions on them begin to cut off customers around the world. The national tracking system, which went into effect last week, requires producers to submit extra …
China increases scrutiny of rare earth magnets with new tracking system Read More »
By Hyunsu Yim, Hyunjoo Jin SEOUL (Reuters) -Emboldened by roaring online success in the U.S., South Korea’s cosmetic startups are expanding their bricks-and-mortar presence in the world’s biggest consumer market, confident their mass appeal will offset the hit from tariffs. Brands like Tirtir, d’Alba, Torriden, and Beauty of Joseon are in talks with major retailers …
Korean beauty startups bet booming US demand outlasts tariff pain Read More »
By Colleen Howe BEIJING (Reuters) -China approved 11.29 gigawatts (GW) of new coal power plants in the first three months of 2025, already exceeding the 10.34 GW approved in the first half of 2024, a new Greenpeace report showed on Thursday. WHY IT’S IMPORTANT Last year, Chinese approvals of new coal-fired power capacity fell 41.5% …
China’s approvals of coal power plants grow after 2024 decline Read More »
By Siyi Liu (Reuters) -Saudi Arabia, the world’s biggest oil exporter, on Wednesday lowered its July prices for Asian buyers after OPEC+ hiked output for a fourth month although the price cut was smaller than expected. Saudi Arabia’s state firm Aramco cut the official selling price for the flagship Arab light crude it sells to …
Saudi Arabia lowers July oil prices for Asia after OPEC+ supply boost Read More »
HANOI (Reuters) -The United States and Vietnam will hold a new round of trade talks by the end of next week, the Vietnamese trade ministry said on Thursday, after Hanoi submitted a document responding to U.S. trade requests. Authorities did not say when and where precisely the third round of talks will take place, as …
US, Vietnam to hold new round of trade talks by end of next week, Hanoi says Read More »
MANILA (Reuters) -Philippine annual inflation eased for a fourth consecutive month in May, driven by slower increases in utility and food prices, the government said on Thursday, and the central bank said the data would allow for a more accommodative monetary policy. The consumer price index rose 1.3% year-on-year in May, down from 1.4% in …
Philippine inflation eases further in May, central bank signals easing Read More »
BEIJING (Reuters) -China issued more than 1.3 trillion yuan ($181 billion) in 2024 under the country’s housing provident fund programme for individual mortgage loans, down 11.4% from the previous year, according to Reuters’s calculations based on government reports. Last year, China issued over 2.3 million individual mortgage loans compared with almost 2.9 million in 2023, …
Loans issued from China’s housing provident fund slow in 2024: report Read More »
By Satoshi Sugiyama TOKYO (Reuters) -Japanese real wages fell for a fourth consecutive month in April, eroded by stubborn inflation that has continued to outpace pay hikes delivered so far by companies, government data showed on Thursday. The wage data adds to concerns about Japan’s growth outlook at a time U.S. President Donald Trump’s sweeping …
Japan April real wages slump for fourth month as inflation bites Read More »
By Leika Kihara TOKYO (Reuters) -The Bank of Japan is considering slowing the pace of tapering in its bond purchases from next fiscal year onward, said four sources familiar with its thinking, a move that would signal its focus on avoiding big bond market disruptions. The move would come in the wake of heightened volatility …
BOJ to consider slowing pace of bond tapering next year, sources say Read More »
