NEW YORK (Reuters) -All American exports to China worth $140.7 billion last year now face a retaliatory Chinese tariff of at least 125%, putting at risk hundreds of thousands of American jobs that support the exports, the US-China Business Council said on Tuesday. China imposed a 125% tariff rate on U.S. exports on April 11 …
Export employment to dive if trade war persists -US business group Read More »
MANILA (Reuters) -Japanese Prime Minister Shigeru Ishiba held talks on Tuesday with President Ferdinand Marcos Jr, in a move to advance security and economic ties between two of Washington’s closest Asian allies amid rising Indo-Pacific tensions. Ishiba’s visit to the Philippines comes at a crucial time, with both countries confronting growing concerns over regional security …
Japan and the Philippines push security and economic ties on Ishiba’s visit Read More »
By Engen Tham and Selena Li SHANGHAI/HONG KONG (Reuters) – China’s Big Five lenders on Tuesday reported narrower margins on their first-quarter earnings and some a drop in profits as the banking sector is hit by a protracted economic slowdown, with rising tariffs darkening prospects further. As the country’s economically crucial property sector continues to …
China’s Big Five banks post slimmer margins as economic challenges persist Read More »
By Ariba Shahid, Sudarshan Varadhan and Charlotte Greenfield KARACHI (Reuters) -Amid the forty-degree heat that paralysed the coastal city of Karachi in April, Saad Saleem blasted his air-conditioning with near-abandon. Electricity tariffs have surged, but the affluent entrepreneur has been unbothered since he spent $7,500 installing solar panels on his bungalow’s roof as part of a solar …
Pakistan’s solar revolution leaves its middle class behind Read More »
By Brenda Goh BEIJING (Reuters) -Chinese President Xi Jinping used a visit to Shanghai on Tuesday to push for breakthroughs in artificial intelligence and underscore China’s leading role in the “Global South”. Although Xi did not reference the trade war started by U.S. President Donald Trump during his visit, the implicit message was clear: China …
China’s Xi pushes AI and ‘Global South’ opportunity amid US trade war Read More »
By Gwladys Fouche OSLO (Reuters) – Ferrari Chief Executive Benedetto Vigna said on Tuesday the Italian luxury sportscar maker would always develop key components for its vehicles internally, as it prepares to launch its first fully electric car later this year. Breaking its tradition of roaring petrol engines, Ferrari will unveil its first fully electric …
Ferrari will always make crucial parts for EVs in-house, CEO says Read More »
By Chen Aizhu SINGAPORE (Reuters) -Chinese offshore oil and gas major CNOOC Ltd’s first-quarter net profit fell 7.9%, weighed down by weaker oil prices, though higher output helped stem the decline. Net income for January-March was 36.56 billion yuan ($5.03 billion), versus 39.7 billion yuan in the same period last year, according to a company …
CNOOC’s Q1 profit down 7.9% on weaker oil prices, but output grows Read More »
By Akash Sriram (Reuters) – Apple is expected to face a string of questions over the delayed roll-out of key AI features and the impact of the Sino-U.S. tariff standoff on its business, when it reports results on Thursday. Even as Apple benefited from a rush of orders for its recently launched lower-priced iPhone 16e …
Apple investors seek clarity on tariffs, AI strategy as iPhone sales decline Read More »
By Engen Tham and Selena Li SHANGHAI/HONGKONG (Reuters) -China’s CITIC Securities Co, the country’s biggest brokerage, reported a 32% rise in net profit in the first quarter this year, on strong investment returns and higher brokerage fee income. Its quarterly profit was 6.545 billion yuan ($900.50 million), up from 4.959 billion yuan in the same …
By Colleen Howe BEIJING (Reuters) -China’s top energy producer PetroChina posted a 2.3% rise in first-quarter profit on Tuesday, citing higher natural gas output, even as poor margins weighed on the refined product business. Profit attributable to owners of the company rose to 46.81 billion yuan ($6.44 billion) from 45.77 billion a year earlier, a …
PetroChina’s first-quarter profit up 2.3%, boosted by natural gas sales Read More »
