By Leika Kihara WASHINGTON (Reuters) -A weak yen is beneficial for Japan’s economy as the boost to exports exceeds the increase in the cost of imports, a senior International Monetary Fund (IMF) official said on Friday. Nada Choueiri, the IMF’s Japan mission chief, also urged Japan to raise interest rates at a gradual pace and …
IMF sees weak yen beneficial for Japan’s economy Read More »
WASHINGTON (Reuters) – The U.S. State Department approved a possible military sale to Japan of subsonic sea-skimming aerial targets, follow-On technical support and related equipment for $113 million, the Pentagon said in a statement on Friday. Among the contractors were Northrop Grumman and Lockheed Martin, according to the Pentagon. (Reporting by Kanishka Singh in Washington))
By Ilona Wissenbach and Christoph Steitz FRANKFURT (Reuters) -Porsche will pare back its dealership network in China, reflecting persisting weak demand in the world’s biggest auto market that has severely hit European carmakers and forced them to cut costs to soften the blow to profit margins. Porsche is seeking billions of euros in cost cuts …
Porsche cuts China dealership network as challenges mount Read More »
By Manya Saini, Niket Nishant and Jahnavi Nidumolu (Reuters) -WeRide’s shares rose 19% in their Nasdaq debut on Friday, after the self-driving startup raised $440.5 million in its IPO and private placement, becoming the latest Chinese firm to capitalize on improving market sentiment. The strong performance reflects a growing appetite among U.S. investors for Chinese …
China’s self-driving startup WeRide’s shares surge in Nasdaq debut Read More »
BEIJING (Reuters) – Apple’s iPhone sales in China slipped 0.3% while rival Huawei posted a 42% surge in the third quarter of 2024, as competition intensifies in the world’s largest smartphone market. Apple reached second place with a 15.6% market share, though down 0.5 percentage points year-on-year, while Huawei claimed third place with 15.3%, gaining …
Apple’s Q3 China smartphone sales slip, Huawei’s soar Read More »
(Reuters) – Chinese self-driving startup WeRide’s shares opened flat in their Nasdaq debut on Friday. Its American depositary shares started trading at $15.50 apiece, in line with their initial public offering price. (Reporting by Manya Saini in Bengaluru; Editing by Arun Koyyur)
(Reuters) – China Evergrande New Energy Vehicle said on Friday that its potential sellers have decided to cease talks for a stake sale in the company, which is the electric vehicle unit of the debt-laden China Evergrande. In May, liquidators of the parent company – which held 58.5% in the EV unit – said they …
China Evergrande’s EV unit to cease discussions for stake sale Read More »
BRUSSELS (Reuters) -The European Union and China have agreed to hold further technical negotiations soon on possible alternatives to tariffs on China-built electric vehicles, the European Commission and China’s commerce ministry said on Friday. The EU is set to impose additional tariffs of up to 35.3% next week on electric vehicles built in China, at …
EU, China agree to more talks on potential alternatives to EV tariffs Read More »
BEIJING (Reuters) – Chinese sovereign fund Central Huijin Investment’s asset management unit has boosted its holdings in four exchange-traded funds (ETFs) by over 270 billion yuan in the third quarter, state-backed China Securities Journal reported on Friday. Specifically, Central Huijin Asset Management’s holdings in the Huatai-PB CSI300 ETF, E Fund CSI300 Index ETF, Harvest CSI …
China state fund’s unit boosts ETF holdings by $38.3 billion in Q3, state media says Read More »
(Reuters) – Chinese carmaker Great Wall Motors is expanding the capacity of its assembly line in Russia to 200,000 cars from next year, seeking to expand its share of Russia’s recovering car market, two Russian newspapers reported on Friday. Chinese carmakers have captured more than half of Russia’s car market in terms of sales since …
China’s Great Wall to expand Russia car production in 2025, Russian papers report Read More »
