JAKARTA (Reuters) -Indonesia’s Constitutional Court has capped the maximum duration of land rights for investors in its planned new capital city at 95 years, half the previous level, according to a new ruling, dealing another blow to the ambitious $32 billion project. Former President Joko Widodo in 2019 unveiled plans to move Indonesia’s capital from …
TOKYO (Reuters) -Japanese electric motor maker Nidec said on Friday it will submit an improvement plan to the Tokyo Stock Exchange after being placed on a “special alert” by the bourse, and downgraded its first-quarter result to a loss. The company, which has positioned itself as a key supplier for electric vehicles, refrained from issuing …
Japan’s Nidec to submit improvement plan to stock exchange, skips annual forecast Read More »
HONG KONG (Reuters) -Hong Kong’s economy expanded by 3.8% in the third quarter from the same period a year earlier, the government said on Friday, supported by a surge in exports and sustained growth in domestic demand. That was in line with the official estimate released in late October, marking the 11th consecutive quarter of …
Hong Kong Q3 GDP expands 3.8% y/y, 2025 growth forecast revised up Read More »
BANGKOK (Reuters) -Thailand will start collecting 10% custom duties on low-cost imports previously exempt from tax as part of a government plan to protect local small- and medium-sized businesses, finance minister Ekniti Nithanprapas said on Friday. Currently, imported goods with a value of 1,500 baht ($45.80) or less are exempt from import duties, while those …
Thailand to impose 10% duty on low-cost imports to aid SMEs Read More »
(Reuters) -Here are some of the details released on Friday by the U.S. and South Korea on a trade deal. The two countries released a joint fact sheet on the summit meeting last month between U.S. President Donald Trump and South Korean President Lee Jae Myung. TRADE Washington and Seoul agreed to set tariffs on …
Factbox-US, South Korea release details of trade deal Read More »
By Ju-min Park and Kanishka Singh SEOUL/WASHINGTON (Reuters) – The U.S. and South Korea released details of a trade agreement on Friday that includes a $150 billion Korean investment in the American shipbuilding sector and an additional $200 billion earmarked for industrial sectors, the two countries said. The joint announcement followed a meeting in October …
US, South Korea unveil details on shipbuilding investment and subs in trade deal Read More »
TOKYO (Reuters) -Japan’s second-largest banking group Sumitomo Mitsui Financial Group posted a 57% rise in second quarter net profit, it said on Friday. Net profit in the July-September period came to 557 billion yen ($3.7 billion) as compared to 354 billion yen over the same periood a year previously. SMFG hiked its profit forecast to …
Japan’s SMFG logs 57% rise in Q2 profit, hikes forecast Read More »
TOKYO (Reuters) -Japan’s Mitsubishi UFJ Financial Group on Friday posted a 7% rise in second-quarter net profit. Profit for July-September came to 747 billion yen ($4.95 billion) compared to 702 billion yen over the same period a year previously, Japan’s largest banking group said. MUFG hiked its profit forecast to 2.1 trillion yen from 2 …
Japan’s largest lender MUFG records 7% rise in second-quarter profit Read More »
By Che Pan and Brenda Goh BEIJING (Reuters) -Sales of iPhones in China rose 22% from year-earlier levels in the first month after the iPhone 17 series launched, even as the broader market softened, a private survey showed on Friday. The new lineup drove most of Apple’s smartphone sales in China in the period from …
Apple’s China iPhone sales jumped 22% in month after iPhone 17 launch Read More »
(Reuters) -Amazon is joining Microsoft in backing legislation to further restrict chipmaker Nvidia’s ability to export chips to China, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The legislation, known as the GAIN AI Act, is also backed by AI startup Anthropic, the report said. Short for Guaranteeing Access and …
Amazon, Microsoft back effort to curb Nvidia’s exports to China, WSJ reports Read More »
