HANOI (Reuters) – Vietnam’s central bank said on Wednesday it had told local commercial banks to keep deposit rates stable and seek to lower their lending rates to support economic growth. The move is aimed at “implementing the government’s instruction to boost lending, securing an economic growth of at least 8% this year,” the State …
Vietnam central bank tells lenders to hold deposit rates, lower loan rates Read More »
JAKARTA (Reuters) – Indonesian President Prabowo Subianto launched two “bullion banks” on Wednesday that will provide gold deposit services to help keep stocks of gold onshore as the country looks to develop its commodity sector beyond mining.Southeast Asia’s largest economy is one of the world’s top gold producers, but Prabowo has said that a lot …
President Prabowo launches Indonesia’s first bullion banks Read More »
By Jessie Pang and Clare Jim HONG KONG (Reuters) – Hong Kong aims to cut spending by slashing 10,000 civil service jobs in an effort to rein in a rising deficit, and plans a big AI push as it navigates headwinds from global economic uncertainty, geopolitical tensions and a weak property market. “It gives us …
Hong Kong to slash 10,000 civil service jobs, push AI in bid to reverse deficit Read More »
By Yuka Obayashi and Kentaro Okasaka TOKYO (Reuters) – Inpex Corp, Japan’s biggest oil and gas explorer, says it has received interest to buy liquefied natural gas from its $20 billion Abadi LNG project in Indonesia that exceeds planned output, its chief executive said. The long-delayed project, set to produce up to 9.5 million metric …
Inpex CEO says buyers’ interest for Indonesia’s Abadi LNG exceeds planned output Read More »
By Kane Wu and Julie Zhu HONG KONG (Reuters) – China’s HongShan Capital Group (HSG) has hired Komi Kyu from Bain Capital to head a new local office in Japan, three sources with knowledge of the matter said. Kyu, who joined HongShan as a managing director in January, has been tasked with gradually building up …
China’s HongShan hires ex-Bain Capital dealmaker in new Japan push, sources say Read More »
By Michele Pek SINGAPORE (Reuters) -Iron ore futures prices weakened for a third consecutive session on Wednesday, weighed down by dour outlook for Chinese steel exports and heightened trade tensions between the U.S. and top consumer China. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) closed 0.98% lower to finish at …
Dalian iron ore extends losing streak on Chinese steel export outlook Read More »
TOKYO (Reuters) – Japan Post Holdings said on Wednesday that a subsidiary offered to acquire Japanese logistics company Tonami Holdings for about 92.6 billion yen ($619 million). The unit JWT will offer 10,200 yen for each share in Tonami, Japan Post said in a statement, a 74% premium to the company’s closing price on Wednesday. …
Japan Post unit offers to buy Tonami Holdings for $619 million Read More »
SINGAPORE (Reuters) – South Korea’s SK Energy plans to restart the 170,000-barrel-per-day (bpd) crude distillation unit (CDU) at its Ulsan refinery in next two weeks after maintenance work, three trade sources familiar with the matter said on Wednesday. It is unclear if the shutdown was planned, the sources said. The unit was shut on Monday …
S.Korea’s SK Energy shuts crude unit for 2-week overhaul, sources say Read More »
By Miho Uranaka and Takaya Yamaguchi TOKYO (Reuters) – Japan Post Holdings is planning to sell shares in Japan Post Bank which could total some 600 billion yen ($4.02 billion), two sources familiar with the matter said, in the latest loosening of ties between the businesses. The postal giant, whose shareholders include the Japanese government, …
Exclusive-Japan Post planning $4 billion sale of shares in Japan Post Bank, sources say Read More »
JAKARTA (Reuters) – Indonesia’s President Prabowo Subianto has decided not to change the state power utility’s monopoly on the electricity market despite calls for liberalisation to encourage renewable energy investment, a close adviser said on Wednesday. Hashim Djojohadikusumo, the president’s brother and adviser, said Prabowo has decided not to change PLN’s monopoly despite requests from …
Indonesia will keep state utility’s monopoly on electricity, president’s aide says Read More »
