BEIJING (Reuters) – China’s commerce ministry on Tuesday announced it would retain anti-dumping duties on imported ethanolamine from the United States, Saudi Arabia, Malaysia and Thailand for another five years from Wednesday. U.S. exporters will be subject to tariffs of 76.0%-97.1% on the chemical used in manufacturing detergents, emulsifiers and polishes, the ministry said in …
SEOUL (Reuters) – A voting Bank of Korea board member, Chang Yong-sung, who dissented in its decision to cut interest rates on Oct. 11, said any rate reduction should be delayed to prevent further spikes in property prices, minutes from the bank’s meeting showed.The BOK voted 6-1 to cut policy interest rates to 3.25% earlier …
BOK board member Chang said property market risks need further checks, minutes show Read More »
By Dewi Kurniawati JAKARTA (Reuters) -Indonesia is considering a plan to import 1 million metric tons of rice from India in 2025 to secure supply until its main harvest, Coordinating Minister for Food Affairs Zulkifli Hasan said after a meeting of food and agricultural officials on Tuesday. Indonesia’s rice output is estimated to fall 2.43% …
Indonesia considers importing 1 million tons of rice from India next year, minister says Read More »
By Colleen Howe BEIJING (Reuters) – China’s power demand will grow faster than expected this year due to record heat waves and Beijing’s economic stimulus aimed at shoring up demand, an industry association said in its latest quarterly report. The China Electricity Council now sees 2024 electricity consumption growing by 7% to 9.9 trillion kilowatt-hours …
China power demand growing faster than expected in 2024, industry association says Read More »
TOKYO (Reuters) – Apple supplier TDK has partnered with McLaren Racing in Formula E electric motor racing as the Japanese components manufacturer targets expansion in the electric vehicle sector. TDK, once well known to consumers for its cassette tapes, is the world’s largest supplier of smartphone batteries. It is growing its passive components and sensors …
Apple supplier TDK partners with McLaren Racing in EV push Read More »
By Casey Hall SHANGHAI (Reuters) – ByteDance founder Zhang Yiming is China’s richest person, with personal wealth of $49.3 billion, an annual rich list showed on Tuesday, although counterparts in real estate and renewables have fared less well. Zhang, 41, who stepped down as chief executive of ByteDance in 2021, becomes the 18th individual to …
Founder of TikTok owner ByteDance jumps to top of China’s rich list Read More »
By Leika Kihara TOKYO (Reuters) -The Bank of Japan should avoid overhauling its ultra-loose monetary policy now, the head of a kingmaker opposition party said on Tuesday, a sign the ruling coalition’s devastating loss in a weekend election was complicating its rate hike plan. With the make-up of Japan’s future government in flux, the political …
Japan’s kingmaker opposition warns against early BOJ rate hike Read More »
HONG KONG (Reuters) – Hong Kong’s home prices dropped for the fifth consecutive month in September, official data showed on Tuesday, in a struggling property market that realtors expect to bottom out soon after an interest rate cut and the government’s easing policies. WHY IT’S IMPORTANT Housing demand in Hong Kong, one of the world’s …
Hong Kong home prices decline for fifth month in Sept Read More »
By Yuka Obayashi TOKYO (Reuters) – Japan’s top power generator, JERA, said on Tuesday its April-September net profit halved, hit by a steep drop in gains from lagged fuel price adjustments and its U.S. power generation business. The utility stuck to its annual profit estimate of 200 billion yen ($1.3 billion), which included the impact …
Japan’s JERA H1 profit halves, full year forecast unchanged Read More »
By Fransiska Nangoy and Bernadette Christina JAKARTA (Reuters) -Malaysian state energy firm Petronas plans an “aggressive” expansion in Indonesia that will see it create a hub for its operations in East Java and invest in exploration in the country’s far-flung eastern regions, its Indonesia head said on Monday. Indonesian President Prabowo Subianto’s government, which took …
Petronas plans significant expansion in Indonesia, country head says Read More »
