By Sarita Chaganti Singh, Aftab Ahmed and Manoj Kumar NEW DELHI (Reuters) – India is open to cutting tariffs on more than half of U.S. imports worth $23 billion in the first phase of a trade deal the two nations are negotiating, two government sources said, the biggest cut in years, aimed at fending off …
By Scott Murdoch (Reuters) -China’s Xiaomi Corp said on Tuesday it had raised $5.5 billion in an upsized share sale as the company pushes forward with its ambitious electric vehicle manufacturing plans. The company sold 800 million shares at HK$53.25 each, it said in a statement to the Hong Kong Stock Exchange. The world’s third-largest …
China’s Xiaomi raises $5.5 billion in share sale as EV plans ramped up Read More »
Copper prices in Shanghai have flipped into modest backwardation in anticipation of robust Chinese demand, as expectations that President Donald Trump will impose tariffs on the metal lure refined supply to the U.S. to profit from the price gap. The front-month April copper contract on the Shanghai Futures Exchange closed at 81,900 yuan ($11,277.88) per …
China copper prices flip into slight backwardation Read More »
BEIJING (Reuters) – China’s Commerce Minister Wang Wentao met with President of Boeing Global Brendan Nelson on Tuesday, and called on the planemaker to deepen cooperation with China’s aviation industry, the commerce ministry said in a statement. China hopes Boeing will play a positive role in maintaining the stability and health of the global aviation …
China’s commerce minister meets with Boeing Global president Read More »
By Hyunjoo Jin and Jihoon Lee SEOUL (Reuters) -South Korea’s Hyundai Steel will invest $5.8 billion along with Hyundai Motor Group to build a steel plant in the U.S. state of Louisiana with an annual capacity of 2.7 million tonnes, the company said in a regulatory filing on Tuesday. Hyundai Steel shares initially jumped more …
Hyundai Steel unveils US factory plan, shares skid Read More »
JAKARTA (Reuters) -Indonesia will join New Development Bank, a multilateral bank developed by BRICS member nations, President Prabowo Subianto said on Tuesday. Joining NDB as a member would help Indonesia accelerate its economic transformation, Prabowo said. The BRICS group also includes Brazil, Russia, South Africa, China, India, Egypt, Ethiopia, Iran and the United Arab Emirates. …
Indonesia to join BRICS’ New Development Bank, president says Read More »
HANOI (Reuters) -Vietnam’s largest conglomerate Vingroup is seeking to develop renewable energy and liquefied natural gas power plants, the company said on Tuesday, in what would be its first ventures into the energy sector. State-run newspaper VietnamNet had reported that the company was seeking approval from the government to add its proposed projects to a …
Vietnam’s Vingroup plans renewables and LNG power ventures Read More »
By Anton Bridge TOKYO (Reuters) – Singapore-based 3D Investment Partners published a plan on Tuesday to reform Japanese drugmaker Toho Holdings, saying governance deficiencies such as large cross-holdings and absence of independent board members impaired corporate value. Shareholder activism in Japan has boomed as investors seek to profit from long-awaited corporate governance changes spreading among …
3D Investment Partners urges Japan’s Toho to improve governance Read More »
By Aditya Kalra and Aditi Shah NEW DELHI (Reuters) – India has ordered Samsung and its executives in the country to pay $601 million in back taxes and penalties for dodging tariffs on import of key telecoms equipment, a government order showed, for one of the biggest such demands in recent years. The demand represents …
Exclusive-India slaps Samsung with tax demand of $601 million for telecom imports Read More »
By Chayut Setboonsarng and Thanadech Staporncharnchai BANGKOK (Reuters) – Thailand’s auto sector faces a slow and painful recovery from a prolonged slump even with government support, three executives and an industry group said at the country’s main motor show, ringed by discount posters and promotional campaigns. Thailand – Southeast Asia’s second-largest economy – is a …
Thailand’s auto industry shows signs of recovery amid slump, executives say Read More »
