SEOUL (Reuters) – South Korea’s S-Oil, whose main shareholder is Saudi Aramco, on Monday said it expects fourth-quarter regional refining margin to regain momentum from seasonal demand growth under limited supply conditions. Over the July-September period, the refiner said it operated the crude distillation units (CDUs) at its 669,000 barrels-per-day (bpd) oil refinery in the …
S-Oil expects Q4 refining margin to regain momentum Read More »
SEOUL (Reuters) – South Korea’s main opposition Democratic Party leader Lee Jae-myung on Monday agreed to back government plans to scrap a scheme to tax profits on financial investments, citing the need to boost the country’s undervalued stock market. Lee said he supported the government and ruling People Power Party’s push to scrap the financial …
South Korean opposition leader agrees to scrap financial investment tax Read More »
SINGAPORE (Reuters) – Indonesian sovereign wealth fund INA and Singapore-based venture capital firm Granite Asia said on Monday they will jointly invest up to $1.2 billion in Indonesia’s technology sector and in businesses with strong ties to the Southeast Asian nation. The firms said in a joint statement that the investments will span both equity …
Wealth fund INA and VC firm Granite plan to invest $1.2 billion in Indonesia tech Read More »
SHANGHAI (Reuters) – Chinese autonomous driving technology developer DeepRoute.ai has raised $100 million from an automaker, the company said on Monday, as it looks to bolster mass adoption of its systems on vehicles ahead of Tesla in China. The Shenzhen-based startup expects nearly 200,000 cars to be equipped with its advanced assisted driving system on …
China’s DeepRoute.ai raises $100 million as smart driving adoption speeds up Read More »
SEOUL (Reuters) – SK Innovation Co Ltd, owner of South Korea’s top refiner SK Energy, said on Monday it expects a floor for oil prices and robust refining margins in the fourth quarter due to improved heating demand, solid U.S. economic growth and China’s proactive economic stimulus policies. The company posted an operating loss of …
SK Innovation expects robust refining margins in Q4 Read More »
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets. Global markets will be overwhelmingly dominated by the U.S. presidential election and interest rate decision later this week, so Monday’s activity may be driven by position adjustments as investors take in the latest polls, newsflow, earnings and economic indicators. If Friday’s …
Morning Bid: Navigating US election, Fed, bond market tumult Read More »
JAKARTA (Reuters) – Indonesia plans to increase the minimum period to retain export earnings for natural resource exporters to beyond three months, its Chief Economic Affairs Minister Airlangga Hartarto said on Sunday. Under a rule introduced last year, natural resource exporters must retain for three months in the domestic financial system 30% of their proceeds …
Indonesia plans to increase minimum period for exporters to retain earnings Read More »
BEIJING (Reuters) – China’s electric vehicle giant BYD ramped up production by nearly 200,000 units from August to October, while hiring close to 200,000 new employees in car manufacturing and components, Executive Vice President He Zhiqi said on Weibo on Saturday. BYD posted an 11.5% rise in third-quarter net profit as it maintained strong sales …
China’s BYD boosts production and hiring amid Q3 growth Read More »
BEIJING (Reuters) – China’s Premier Li Qiang will deliver remarks at the opening ceremony of this week’s China International Import Expo, the Chinese commerce ministry said on Sunday, as Beijing seeks to show the faltering economy is open for business. Leaders from Malaysia, Uzbekistan, Slovakia, Kazakhstan, Mongolia and Serbia are among those expected for the …
China’s Premier Li Qiang to speak at import expo in Shanghai Read More »
By Dan Catchpole and Utkarsh Shetti SEATTLE (Reuters) -Boeing shares gained 3.5% on Friday on bets that the planemaker’s U.S. West Coast factory workers will approve a new wage offer and end a seven-week strike that has halted jet production and hammered the company’s finances. Around 33,000 machinists, who have been on strike since Sept. …
Boeing shares rise on hopes new wage offer will end strike Read More »
