JAKARTA (Reuters) -Indonesia’s Ministry of Finance is seeking to establish a legal framework for special purpose vehicles covering asset securitisation and managers of trust funds, it said late on Thursday. Indonesia has a civil law system and did not have rules for trusts until a new law was introduced in 2023. The finance ministry’s new …
Indonesia to establish legal framework for establishing trusts Read More »
By Nora Eckert DETROIT (Reuters) -China’s Guangzhou Automobile Group (GAC) will build its electric AION V model at a Magna facility in Austria, the two companies said on Thursday, a strategy that should help GAC avoid the EU’s tariffs on China-made EVs. The GAC vehicle will be produced at Magna’s facility in Graz, Austria, which …
Magna to produce China’s GAC electric vehicles in Europe Read More »
(Reuters) -China’s state-owned iron ore buyer has ordered steel mills and traders to stop purchasing a certain type of BHP iron ore, sources said, adding to a separate ban already in place and escalating a dispute over a new contract. China Mineral Resources Group (CMRG), set up in 2022 to centralise iron ore purchasing and …
China expands BHP iron ore ban to new product as talks drag, sources say Read More »
By Makiko Yamazaki and Leika Kihara TOKYO (Reuters) -Japan’s exports rose more than expected in October for a second straight monthly gain, government data showed on Friday, underpinned by a milder fall in U.S.-bound shipments, resilient demand in other key markets and a weaker yen. “Although the outlook of exports to the U.S. remains uncertain, …
Japan exports unexpectedly strong in October as US tariff impact slows Read More »
By Heekyong Yang SEOUL (Reuters) -Samsung Electronics said on Friday it has named its mobile chief TM Roh as a new co-CEO and head of its device experience division, which oversees the company’s mobile phone, TV and home appliance businesses. The appointment returns Samsung to its traditional co-CEO structure, which divides oversight of its chip …
Samsung Elec names mobile chief co-CEO in return to traditional structure Read More »
SINGAPORE (Reuters) -Singapore’s monetary policy stance remains appropriate, with the output gap expected to remain positive in 2025 and come in at around 0% next year, central bank chief economist Edward Robinson told a briefing on Friday after the release of third-quarter economic growth data. (Reporting by Jun Yuan Yong; Editing by John Mair)
TOKYO (Reuters) -Japan’s manufacturing activity contracted for a fifth month in November, albeit at a slower pace than in the previous month due to a softer decline in output, a private-sector survey showed on Thursday. The S&P Global flash Japan Manufacturing Purchasing Managers’ Index (PMI) rose to 48.8 in November from October’s final 48.2, marking …
Japan factory activity down for fifth month in November, PMI shows Read More »
BEIJING (Reuters) -Protracted negotiations between China’s state iron ore buyer and miner BHP have tightened availability of some iron ore, seven sources said, underpinning prices despite weakening demand for the key steelmaking ingredient. China Mineral Resources Group (CMRG), set up in 2022 to centralise iron ore purchasing and win better terms from miners, asked Chinese …
Stand-off between China’s iron ore buyer and BHP tightens iron ore supplies, sources say Read More »
By Karen Freifeld (Reuters) -The U.S. Justice Department has charged four people in a scheme to illegally export Nvidia AI chips to China, prompting a key House Republican to call for urgent passage of a chip-tracking bill on Thursday. “China recognizes the superiority of American AI innovation and will do whatever it must to catch …
Alleged AI chip smuggling to China leads to US calls for chip tracking Read More »
By Leika Kihara TOKYO (Reuters) -Japan’s core consumer prices rose 3.0% in October from a year earlier, data showed on Friday, staying above the central bank’s 2% target and keeping alive expectations of a near-term interest rate hike. The increase in the core consumer price index (CPI), which excludes volatile fresh food but includes fuel …
Japan’s core inflation accelerates in October, stays above BOJ target Read More »
