BEIJING/SHANGHAI (Reuters) – Bank of China reported a 4.38% rise in net profit in the third quarter of this year, a filing showed on Wednesday. Profit was 57.162 billion yuan ($8.02 billion) in the three months ended Sept. 30 compared to 54.763 billion yuan in the same period last year, BoC said in the filing. …
By Sam Nussey TOKYO (Reuters) – Japan’s Advantest on Wednesday hiked its full year operating profit forecast by almost a fifth to 165 billion yen ($1.08 billion) as strong demand for high performance artificial intelligence-related chips boosted its testing tools business. Operating profit in the July-September quarter tripled year-on-year to a record 63.6 billion yen. …
Advantest hikes profit forecast as AI boosts testing demand Read More »
By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) – Thailand’s policy interest rate is at an adequate level to address economic risks as the recovery is uneven, while the current inflation target range of 1% to 3% remains appropriate, the central bank said. After resisting repeated calls by the government for easing, the Bank of …
HANOI (Reuters) – Oil giant Saudi Aramco wants to invest in the oil refinery sector and petroleum distribution in Vietnam, the Southeast Asian country’s government said in a statement issued late on Tuesday. The announcement came after a meeting between Prime Minister Pham Minh Chinh and Saudi Aramco’s chief executive officer Amin Al-Nasser in Riyadh …
Vietnam says Saudi Aramco wants to invest in oil refining, petrol distribution Read More »
SINGAPORE (Reuters) – PetroChina International, the trading arm of the Chinese oil major, has appointed former senior crude oil trading executive Sun Jinhua as head of its Singapore operations, several trade sources said this week. Sun, who was formerly the general manager of PetroChina International’s Hong Kong division and also headed its crude trading business …
PetroChina Intl appoints Sun Jinhua to head Singapore unit, sources say Read More »
By Danial Azhar KUALA LUMPUR – A Meta Platforms official on Wednesday criticised Malaysia’s plan to require social media platforms to apply for a regulatory licence by January, saying the proposal lacked clear guidelines and gave social companies little time to comply, risking digital innovation and growth in the country. Malaysia said in July it …
Meta says Malaysia’s social media licencing plan lacks clarity, threatens innovation Read More »
By Fransiska Nangoy JAKARTA (Reuters) -Chinese battery material maker CNGR Advanced Material Co is planning to build an integrated production facility worth $10 billion in nickel-rich Indonesia, a local official for the company said on Wednesday. The investment will take place over 10 to 15 years and the company is looking for a suitable location …
China’s CNGR planning $10 billion battery material facility in Indonesia Read More »
By Rozanna Latiff KUALA LUMPUR (Reuters) -A Malaysian court ruled on Wednesday jailed former prime minister Najib Razak will have to defend himself against more abuse of power and money laundering charges in another trial over the multi-billion dollar scandal at state fund 1MDB. Najib faces four charges of abuse of power and 21 charges …
Jailed Malaysian ex-PM Najib to take the stand in 1MDB corruption case Read More »
By Hyunjoo Jin and Joyce Lee SEOUL (Reuters) -Shares in Korea Zinc fell as much as 29.9% to their daily lower limit on Wednesday after the world’s top zinc refiner said it planned to issue new stock worth about $1.8 billion just two days after it bought back shares at a higher price. Run by …
Korea Zinc shares dive on plan to issue $1.8 billion of new stock after buyback Read More »
By Philip Blenkinsop BRUSSELS (Reuters) – The European Union has decided to increase tariffs on Chinese-built electric vehicles to as much as 45.3% at the end of its highest profile trade investigation that has divided Europe and prompted retaliation from Beijing. Just over a year after launching its anti-subsidy probe, the European Commission will set …
EU slaps tariffs on Chinese EVs, risking Beijing backlash Read More »
