(Reuters) -Uber said on Tuesday it was partnering with Pony AI to deploy the China-based robotaxi developer’s vehicles onto its ride-hailing platform, marking the latest in a series of tie-ups aimed at strengthening its presence in the fledgling robotaxi sector. The partnership will launch in a key market in the Middle East later this year …
By Helen Reid LONDON (Reuters) -Growing numbers of retailers and consumer brands are shifting their focus to Europe and other markets from the United States, as they expect U.S. tariffs to spark price hikes that will drive American consumer demand down. European online fashion retailer Zalando, which sells logistics and software services to other retailers, …
Spooked by US tariffs, retailers look for growth in Europe Read More »
SINGAPORE (Reuters) -Taiwan’s currency is at three-year highs after notching unprecedented gains as insurance firms, pension funds and other investors quit U.S. dollar assets or scramble to hedge exposure. Analysts estimate billions of dollars’ worth of hedging or repatriation by life insurance firms could drive the Taiwan dollar even higher. WHY IT’S IMPORTANT The latest …
Taiwanese life insurers’ portfolios have billions of unhedged dollars Read More »
By Siddhi Nayak (Reuters) – Sumitomo Mitsui Banking Corp (SMBC) is close to agreement on acquiring a stake in Yes Bank, with the Japanese firm eyeing a majority 51% equity in the Indian lender, three sources familiar with the deal said on Tuesday. If the deal goes through, it could potentially be the largest in …
Japan’s SMBC is closer to acquiring 51% stake in India’s Yes Bank, sources say Read More »
By Rae Wee and Samuel Shen SINGAPORE/SHANGHAI (Reuters) -A wave of dollar selling in Asia is an ominous sign for the greenback as the world’s export powerhouse starts to question a decades-long trend of investing its big trade surpluses in U.S. assets. Ripples from Friday and Monday’s record rally in the Taiwan dollar are now …
Analysis-‘Asian crisis in reverse’ as currencies soar on the dollar Read More »
TAIPEI (Reuters) – Taiwanese electronics manufacturer and AI server maker Wistron Corp said on Tuesday its board has approved an additional investment of $455 million in its new U.S. subsidiary. The new planned investment would bring the total planned capital injection into the subsidiary to $500 million, Wistron said in a press release. The move …
Wistron Corp to invest additional $455 million in new U.S. unit Read More »
JAKARTA (Reuters) -Indonesia has issued new rules to allow the government to procure goods with lower locally-produced content, a document showed, addressing a key point in its proposal to address the potential economic impact from U.S. tariffs. Jakarta is currently negotiating the 32% tariffs the U.S. wants to impose on Indonesian imports. These tariffs are …
Indonesia lowers local content procurement limit as US tariff talks continue Read More »
SEOUL (Reuters) -South Korea’s central bank chief said currency volatility will likely continue for some time amid uncertainties in the global economy and domestic politics, the Yonhap news agency reported on Tuesday. “It is still too early to say whether the currency exchange rate has hit the bottom,” Bank of Korea Governor Rhee Chang-yong was …
Bank of Korea chief says volatility in FX market to continue, Yonhap reports Read More »
By Casey Hall and Liangping Gao BEIJING (Reuters) -Chinese travellers’ spending rose 8% year-on-year during the May Day holiday to 180.27 billion yuan ($24.92 billion), but was still off pre-pandemic levels, while the country’s services activity expanded at the slowest pace in seven months in April. The May Day holiday, one of the country’s longest, …
Chinese holiday spending inches up but trade war weighs on services Read More »
HANOI (Reuters) -Vietnamese budget airline Vietjet said on Tuesday it had bought a strategic stake in Kazakhstan’s Qazaq Air to form a joint venture that will operate a fleet of at least 20 Boeing 737 aircraft. Vietjet said the joint venture, Vietjet Qazaqstan, was part of its international expansion plans. It didn’t provide details about …
Vietjet forms joint venture with Qazaq Air, will operate Boeing 737 jets Read More »
