By Bernadette Christina JAKARTA (Reuters) -Consumer brands including Nestle and Procter & Gamble said they conducted investigations after an environmental group said palm oil sourced from an illegally cleared wildlife reserve in Indonesia may have found its way into their supply chains. Rainforests within the legally protected wildlife reserve had been cleared to make way for …
By Aditya Kalra and Sumeet Chatterjee NEW DELHI/HONG KONG (Reuters) -DBS’s India unit has nominated its head of institutional banking, Rajat Verma, to be the bank’s new chief executive officer, two people familiar with the matter said. He is slated to replace Surojit Shome, who plans to retire after leading DBS Bank India since 2015, …
DBS Bank nominates Rajat Verma to be next India CEO, sources say Read More »
TOKYO (Reuters) – Tokyo Electron on Tuesday hiked its operating profit forecast for the year ending March 2025 by 8.5% to 680 billion yen ($4.42 billion) amid chip industry investment supported by the growth of artificial intelligence. Profit in the July-September quarter climbed 54% to 148 billion yen compared to the same period a year …
By Casey Hall SHANGHAI (Reuters) -China’s largest e-commerce company Alibaba Group said it recorded “robust growth” in sales and a “record number” of shoppers over this year’s Singles’ Day sales period, a weeks-long event that ended at midnight on Monday. The firm did not release total sales revenue for the period but said 45 brands …
China’s Singles’ Day wraps up super-sized sales event with volume, shopper growth Read More »
(Reuters) – The government of Singapore has committed up to $500 million in concessional funding to support the local central bank’s initiative to help fund Asia-focused climate projects, a senior official said at a conference on Tuesday. The initiative, called “Financing Asia’s Transition Partnership”, which uses a combination of public and private sector funding, was …
Singapore commits up to $500 million funding to support decarbonisation in Asia Read More »
By Sophie Yu and David Kirton ZHUHAI, China (Reuters) – European planemaker Airbus defended free trade on Tuesday as the aerospace industry faces a growing cluster of economic tensions. The CEO of the planemaker’s China operations said Airbus was “very much pro free trade” and its presence there was a showcase of good cooperation between …
Airbus defends free trade amid growing tariff jitters Read More »
By Asif Shahzad ISLAMABAD (Reuters) -The International Monetary Fund’s Pakistan mission chief Nathan Porter on Tuesday opened unusual talks with Pakistan over a $7 billion bailout approved by its board in September, the finance ministry and sources said. The unscheduled visit of the IMF mission and talks beginning with meeting the country’s finance team are …
IMF holds unusual talks with Pakistan over $7 billion bailout Read More »
ZHUHAI, China (Reuters) -COMAC said on Tuesday that Air China was the first customer for the Chinese planemaker’s C929 widebody aircraft under development that is designed to compete with twin-aisle models from Airbus and Boeing. COMAC’s deputy director of marketing, Liu Yan, made the announcement at China’s biggest air show in Zhuhai. Liu did not …
COMAC says Air China is the first customer for C929 widebody jet Read More »
By Kantaro Komiya TOKYO (Reuters) -Nissan Motor shares jumped as much as almost 21% on Tuesday after a filing showed activist investor Effissimo Capital Management had taken a stake in the struggling Japanese automaker. In a regulatory filing on Monday, Nissan disclosed Cayman Islands-registered ECM Master Fund as a shareholder with a 2.5%stake as of …
Nissan shares jump 21% after activist Effissimo takes stake Read More »
By Francesco Guarascio HANOI (Reuters) – Foreign companies are expanding capacity in Vietnam for testing and packaging chips while domestic firms are eyeing investments, as a shifting of industrial activity away from China gathers pace due to trade tensions with the West, executives said. The semiconductor back-end manufacturing sector, which is less capital-intensive than more …
Vietnam expands chip packaging footprint as investors reduce China links Read More »
