By Victoria Waldersee STUTTGART, Germany (Reuters) -China’s BYD will introduce two more plug-in hybrid models to Germany this year, its chief for Germany and numerous other central European countries Maria Grazia Davino told Reuters on Tuesday, as the EV giant widens its product line-up to adapt to European demand. “Not everyone is ready for electric. …
BYD to introduce two plug-in hybrid models in Germany this year Read More »
(Reuters) -Singapore-listed food conglomerate Wilmar International reported a 4% rise in first-quarter profit on Tuesday, and flagged increased market volatility from U.S. tariffs for the rest of the year. Wilmar said its core net profit for the three months ended March 31 was $343 million, up from $328.4 million reported last year. The company, one …
Singapore’s Wilmar posts higher quarterly profit, flags tariff uncertainty Read More »
SHANGHAI/HONGKONG(Reuters) -Bank of China (BoC) reported a 2.9% fall in net profit in the first quarter, according to a filing on Tuesday. Profit was 54.364 billion yuan ($7.48 billion) in the three months ended March 31, compared with 55.989 billion yuan in the same period a year earlier, BoC said in the filing. ($1 = …
JAKARTA (Reuters) – Standard Chartered, Germany’s DEG and France’s Proparco on Tuesday announced funding of $60 million for the construction and operation of a solar photovoltaic plant in Indonesia that will be run by ACWA Power and PLN Indonesia Power. The financing is part of Indonesia’s deal with developed nations to adopt cleaner energy, known …
Indonesia’s Saguling solar PV plant to get $60 million funding through JETP Read More »
LONDON (Reuters) -The chief executive of AstraZeneca said on Tuesday that the drugmaker will maintain its 2025 sales guidance even if the U.S. levies tariffs on pharma products made in the European Union, provided they are in line with rates for other sectors. Pascal Soriot was speaking to journalists on a call after the company …
BEIJING (Reuters) -Chinese electric vehicle giant BYD broke ground on its Cambodia passenger vehicle factory on Monday, according to the Chinese embassy in Cambodia. The new plant in the Sihanoukville Special Economic Zone, with an annual production capacity of 10,000 vehicles, covers an area of 120,000 square meters and is expected to begin operations by …
BYD breaks ground on Cambodian car factory, Chinese embassy says Read More »
By Jihoon Lee SEOUL (Reuters) – South Korea’s exports are expected to have fallen in April, as U.S. President Donald Trump’s sweeping tariffs, including those on autos and steel, started to weigh, a Reuters poll found on Tuesday. South Korea is the first major exporting economy to report trade figures each month, providing an early …
South Korea exports seen falling as Trump’s tariffs start to weigh: Reuters poll Read More »
JAKARTA (Reuters) – South Korea’s LG group remains committed to Indonesia and will increase its investment in a battery cell factory by $1.7 billion, raising total investment in the project to $2.8 billion, Indonesia’s investment minister said on Tuesday. The comment from minister Rosan Roeslani follows confirmation last week that LG Energy Solution, or LGES, …
Indonesia minister says LG to invest another $1.7 billion in battery factory Read More »
FRANKFURT (Reuters) -Luxury sportscar maker Porsche AG on Tuesday said its operating margin fell to 8.6% in the first quarter, below analyst estimates, hit by weaker demand in China as well as U.S. import tariffs. “The macroeconomic situation will remain challenging. We can’t completely escape this, but we are doing everything within our power to …
Porsche’s Q1 profit margin plunges on China weakness, US tariffs Read More »
By Peter Hobson CANBERRA (Reuters) -Australia’s wine export boom to China that followed an improvement in relations between the two countries is showing signs of slowing, amid a broader global decline in the number of bottles headed to the world’s second-largest economy. China is the Australian wine industry’s most lucrative overseas market but its consumption …
Australia’s surge in wine exports to China begins to slow Read More »
