By Joe Cash and Liangping Gao BEIJING (Reuters) -China will expand a “white list” of housing projects eligible for financing and increase bank lending for such developments to 4 trillion yuan ($562 billion) by year-end, Minister of Housing and Urban-Rural Development Ni Hong said on Thursday. Redevelopment of cities will also gather pace, with a …
China boosts funds for housing projects to support embattled sector Read More »
By Ron Bousso and Arunima Kumar LONDON (Reuters) – Japan Petroleum Exploration (Japex) is seeking buyers for its stake in an oilfield in the British North Sea, the latest in a string of exits from the ageing basin as companies face growing uncertainty over government tax plans. Japex is calling for bids for its 15% …
Japan’s Japex seeks UK North Sea exit with oilfield stake sale Read More »
HANOI (Reuters) – A court in Vietnam on Thursday handed a life sentence to real estate tycoon Truong My Lan on financial fraud charges, after she was sentenced to death in April in a separate trial. Lan, the chairwoman of real estate developer Van Thinh Phat Holdings Group, was found guilty of obtaining property by …
Vietnam tycoon Lan gets life sentence; already has death sentence from separate trial Read More »
By Anton Bridge TOKYO (Reuters) – British fintech firm Wise has won approval for direct access to Japan’s bank payment clearing network, becoming the first foreign financial company to do so, it said on Thursday. The move could put pressure on banks including megabanks such as Mitsubishi UFJ and smaller players such as SBI Shinsei …
By Orathai Sriring BANGKOK (Reuters) – After months of withstanding political pressure and public bickering, Thailand’s central bank on Wednesday delivered what the country’s government had been pressing for: it cut its key interest rate, the first reduction since 2020. Now comes the hard part for Prime Minister Paetongtarn Shinawatra, an untested leader whose ruling …
By Khanh Vu HANOI (Reuters) – Vietnam can still meet its economic growth target this year despite the extensive damage caused by Typhoon Yagi and is open to the possibility of interest rate cuts, central bank deputy governor Dao Minh Tu said on Thursday. Tu also told a media briefing that business and manufacturing activities …
Vietnam central bank says to keep policy supportive, open to rate cuts Read More »
By Dominique Vidalon and Florence Loeve PARIS (Reuters) -French spirits maker Pernod Ricard said it still expected to return to sales growth in the 2024/25 fiscal year, despite reporting a bigger-than-expected fall in first quarter sales, caused partly by weakness in China. Pernod, which owns Martell cognac, Mumm champagne and Absolut vodka, reported sales of …
China woes drag down Pernod Ricard first quarter sales Read More »
HANOI (Reuters) – Vietcombank and Military Commercial Joint Stock Bank (MBBank) will take over smaller lenders Construction Bank and Ocean Bank, respectively, Vietnam’s central bank said on Thursday. The moves are part of the central bank’s restructuring program to stabilise the financial sector and tackle non-performing loans. “The goal of the compulsory takeovers is for …
Vietnam central bank says Vietcombank, MBBank to take over smaller lenders Read More »
By Roushni Nair (Reuters) – Analysts turned bearish on most Asian currencies, with short bets on the Indian rupee at a one-year high, as expectations the Federal Reserve would cut rates less aggressively strengthened the dollar and took the shine off riskier Asian assets. Short positions in the South Korean won, the Philippine peso and …
Investors turn short on most Asian FX as dollar strength prevails- Reuters poll Read More »
By Kane Wu and Scott Murdoch (Reuters) -Hyundai Motor India is set to price its shares at 1,960 rupees to raise $3.3 billion in its initial public offering, according to two sources with direct knowledge of the matter. That price is at the top of the 1,865 rupees to 1,960 rupees range flagged to investors …
