BEIJING/HONG KONG (Reuters) -China is set to slash pay for staff at its top three financial regulators, including the central bank, by about half, as part of a regulatory revamp unveiled in 2023 to bring their salaries in line with other civil servants, sources said. Starting from this month, staff at the People’s Bank of …
China to cut pay by half for staff at top financial regulators, sources say Read More »
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets. A pause in the global bond selloff took some wind out of the dollar’s sails and allowed equities to regain their footing early on Tuesday but Wall Street’s wobble ahead of U.S. inflation data could put Asian markets back on the …
Morning Bid: Fleeting respite from yields, dollar; Indonesia sets rates Read More »
By Erwin Seba HOUSTON (Reuters) -Oil prices slipped on Tuesday after a U.S. government agency forecast steady U.S. oil demand in 2025 while lifting its forecast for supply. Declines were limited by new U.S. sanctions on Russian oil exports to India and China. Brent futures fell $1.09, or 1.35%, to settle at $79.92 a barrel. …
By Karen Freifeld WASHINGTON (Reuters) – The United States has banned imports from another tranche of Chinese companies over alleged human-rights abuses involving the Uyghurs, targeting 37 textile, mining and solar companies, the Department of Homeland Security said on Tuesday. The companies include Huafu Fashion Co., one of the world’s largest textile manufacturers, and 25 …
By Philip Blenkinsop BRUSSELS (Reuters) -EU medical device suppliers are not given fair access to China’s public tenders, the European Commission concluded on Tuesday, a finding that could lead to restrictions on Chinese suppliers in Europe. The EU executive said it could exclude Chinese bidders from EU public procurement markets or attach a penalty score …
EU weighs curbs on Chinese medical device makers in public bids Read More »
(Reuters) – Sinopec Shanghai Petrochemical Company said on Tuesday it will upgrade its operations by investing 21.31 billion yuan ($2.91 billion). To maintain its capacity in crude oil processing and make other operational upgrades, the company will shut down existing 18 sets of oil refining devices and install new ones, it said. The new installations …
Sinopec Shanghai Petrochemical to spend $2.91 billion to improve operations Read More »
BEIJING (Reuters) – The Chinese commerce ministry said on Tuesday that it had added seven U.S. companies to its so-called “Unreliable Entity List” for their involvement in arms sales to Taiwan, which China regards as part of its territory. Effective from Tuesday, the blacklisted companies, which include Inter-Coastal Electronics, will be banned from exporting to …
China blacklists seven US firms for involvement in Taiwan arms sales Read More »
RIYADH (Reuters) – Saudi Arabian mining company Manara Minerals could invest in Pakistan’s Reko Diq mine in the next two quarters, Pakistani Petroleum Minister Musadik Malik said on Tuesday. Manara, a joint venture between state-controlled miner Ma’aden and the $925-billion Public Investment Fund (PIF), was set up as part of the kingdom’s efforts to diversify …
Saudi firm Manara may invest in Pakistan’s Reko Diq mine, minister says Read More »
(Reuters) – Country Garden, once China’s top property developer by sales, posted on Tuesday a net loss of 12.84 billion yuan ($1.75 billion) for the first half of 2024, as conditions deteriorated amid a prolonged sector-wide slump. The loss followed a full-year net loss of 178.40 billion yuan for 2023, the company said in a …
Country Garden posts losses in overdue FY 2023, H1 2024 results Read More »
By Pratima Desai LONDON (Reuters) – The London Metal Exchange (LME) is concluding its process for approving Hong Kong as a location for its global metals warehousing network, which the exchange considers to be a gateway to mainland China. Approving warehouses in China, the world’s largest consumer of industrial metals, to store metal traded on …
LME on last lap to approve Hong Kong as location for metal storage Read More »
