By Daniel Leussink TOKYO (Reuters) -Nissan Motor will cut 9,000 jobs and 20% of its global manufacturing capacity, the automaker said on Thursday, as it scrambles to reduce costs by $2.6 billion in the current fiscal year amid a sales slump in China and the U.S. The plans underline the vulnerability of Japan’s third-largest automaker, …
Nissan to axe 9,000 jobs, cut production on weak China, US sales Read More »
SINGAPORE (Reuters) – STMicroelectronics has struck a long-term solar energy deal with joint venture BKH Solar to power its test and assembly site in southern Malaysia, the chipmaker said on Thursday. The 21-year power purchase agreement, which starts in 2025, will enable annual electricity supply of about 50 gigawatt hours (GWh) from BKH Solar’s new …
STMicro strikes long-term solar deal for Malaysia chipmaking unit Read More »
SINGAPORE (Reuters) – Singapore’s Energy Market Authority (EMA) has signed a preliminary agreement with PetroChina International Company Ltd to strengthen the Southeast Asian nation’s expertise and knowledge on liquefied natural gas (LNG) supply and management. Singapore’s power industry regulator said in a statement on Thursday that both entities would explore opportunities to strengthen each other’s …
Singapore’s energy regulator signs preliminary LNG agreement with PetroChina Read More »
(Reuters) – Malaysia’s state energy firm Petroliam Nasional (Petronas) [IPO-PETO.KL] on Thursday said it has lifted the force majeure on gas supply to one of its liquefaction terminals, Malaysia LNG Dua, starting Nov. 1. The company declared a disruption at the Sabah-Sarawak gas pipeline due to a gas leak caused by soil movement in October …
Malaysia’s Petronas lifts force majeure on gas supply from MLNG Dua Read More »
MILAN (Reuters) -Italy is investigating a possible breach by China’s Sinochem, the top investor in tyremaker Pirelli, of provisions imposed to protect the tyremaker’s autonomy, Pirelli said in a statement. The move by the right-wing government led by Prime Minister Giorgia Meloni, dated Oct. 31, comes amid rising trade tensions between China and the European …
Italy studies potential Pirelli governance breach by Sinochem Read More »
KUALA LUMPUR (Reuters) – Narrowing interest rate differentials between Malaysia and major economies is good for Malaysia’s ringgit, despite greater volatility in global markets following the U.S. election, Malaysia’s central bank chief said on Thursday. Abdul Rasheed Ghaffour said Bank Negara Malaysia would do what was required to maintain a financial market environment conducive for …
Malaysia central bank to ensure stability amid global volatility, governor says Read More »
By Florence Tan SINGAPORE (Reuters) – China will continue to have an important role in global oil demand because of its focus on petrochemicals even as fuel consumption in its road transportation sector peaks amid energy transition, Vitol’s global head of research said on Thursday. The world’s No. 2 oil consumer will continue to add …
China still key to global oil demand growth despite energy transition, Vitol says Read More »
By Bernadette Christina JAKARTA (Reuters) – Indonesia’s palm oil fund agency urged the government to come up with a new funding policy for its biodiesel programme as use of the palm oil fuel blend is expected to widen, the fund’s chief said on Thursday. Through the agency, Indonesia subsidises the price gap between the cost …
Indonesia’s palm oil fund urges govt to rethink biodiesel funding plan Read More »
BEIJING/Bengaluru (Reuters) -China’s central bank refrained from purchasing gold for its reserves for the sixth consecutive month in October, according to official data released on Thursday. China’s gold holdings stood at 72.8 million troy ounces at the end of last month. The value of the gold reserves, however, rose to $199.06 billion from $191.47 billion …
China’s central bank pauses gold purchases for sixth straight month Read More »
By Selena Li, Scott Murdoch and Kane Wu HONG KONG/SYDNEY (Reuters) – More U.S. financial firms may pull back from China, hive off local units to minimise risks or pause expansion plans on concerns about geopolitical tensions in a Donald Trump presidency, industry executives and analysts said. Mainland China was a lucrative market for Wall …
Trump win casts fresh doubts over Wall Street’s China strategy Read More »
