By Maki Shiraki TOKYO (Reuters) – Toyota aims to make at least 2.5 million vehicles a year in China by 2030, three people said, an overhaul that will see it bring its Chinese sales and production operations closer together and allow local executives a freer hand in development. The plan, which has not been previously …
Toyota aims to ramp up China production in a strategy pivot, sources say Read More »
By Leika Kihara TOKYO (Reuters) -Bank of Japan policymakers were divided on how soon they could raise interest rates with some warning of the risk of renewed market volatility after the U.S. presidential election, a summary of opinions at their October meeting showed on Monday. Many BOJ board members highlighted the need to focus on …
BOJ divided on rate hike timing as U.S. election loomed, Oct summary shows Read More »
HANOI (Reuters) – Vietnam’s central bank is ready to sell U.S. dollars to the market to keep the exchange rate stable, Governor Nguyen Thi Hong said on Monday. “The exchange rate market has been volatile after the Fed’s rate cuts,” Hong told the parliament in Hanoi, adding that market management is a challenging task. Hong …
Vietnam central bank ready to sell U.S. dlrs to keep exchange rate stable Read More »
(Reuters) – China unveiled a 10 trillion yuan ($1.4 trillion) debt package on Friday to ease local government financing strains and stabilise flagging economic growth, but officials refrained from announcing direct economic stimulus. Below are the key details of the plan: THE MEASURES Authorities increased the amount of debt local governments are allowed to raise …
Factbox-What you need to know about China’s $1.4 trillion debt package Read More »
By Yantoultra Ngui SINGAPORE (Reuters) -Singapore’s biggest lender DBS Group Holdings Ltd is exploring expanding into Malaysia with potential acquisitions of stakes in banks in its Southeast Asian neighbour, including in one of Malaysia’s smallest banks by assets, two sources said. DBS is exploring a purchase of Singapore state investor Temasek’s 29.1% stake in Alliance …
Singapore’s DBS eyes Malaysian bank stakes in expansion push, sources say Read More »
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets. Investors in Asia have their first chance on Monday to react to a batch of key economic indicators and news out of China, and should do so in a relatively bullish frame of mind after the record-setting rally on Wall Street …
Morning Bid: China caution cools sizzling US optimism Read More »
BEIJING (Reuters) -China and Indonesia signed deals worth $10 billion at the Indonesia-China Business Forum in Beijing on Sunday, spanning sectors including food, new energy, technology, and biotechnology, Chinese state media reported. The forum followed a meeting on Saturday between Chinese President Xi Jinping and Indonesian President Prabowo Subianto, who is in China through Nov. …
China, Indonesia seal $10 billion in deals focused on green energy and tech Read More »
TOKYO (Reuters) – Shikoku Electric Power suffered a large-scale blackout on Saturday night and will file a detailed report on the cause and the measures it will take to prevent a recurrence to Japan’s Ministry of Economy, Trade and Industry, the company said. The outage affected some 365,300 homes in the prefectures of Kagawa, Ehime, …
Shikoku Electric suffers large-scale blackout, to file report to METI Read More »
SEOUL (Reuters) – South Korean steelmaker POSCO suspended production at its Pohang plant due to a fire on Sunday, a company official said, although the company’s overall output likely won’t be affected. The fire broke out at about 4:20 a.m. (1920 GMT on Saturday) at a furnace in POSCO’s plant in the southeastern city of …
POSCO suspends Pohang plant due to fire, but sees no impact on output Read More »
By Karen Freifeld and Fanny Potkin NEW YORK/SINGAPORE (Reuters) -The U.S. ordered Taiwan Semiconductor Manufacturing Co to halt shipments of advanced chips to Chinese customers that are often used in artificial intelligence applications starting Monday, according to a person familiar with the matter. The Department of Commerce sent a letter to TSMC imposing export restrictions …
