By Victoria Waldersee BERLIN (Reuters) -China’s BYD will buy its German distributor Hedin Electric Mobility, BYD and Hedin said on Friday, as BYD moves to establish itself as a major electric vehicle maker in Europe. BYD Automotive GmbH will take charge of the sales activities of BYD vehicles and parts in the German market, as …
Chinese EV maker BYD to buy German car distributor Hedin Electric Read More »
(Reuters) -Indian carrier Vistara said on Friday its planes would be operated by Air India from November as a merger between Vistara and the country’s flag carrier gained momentum following a key Indian government approval. Singapore Airlines, which owns 49% of Vistara in a joint venture with India’s Tata Group said it had received approval …
Air India to operate Vistara flights from November as merger gets key approval Read More »
LONDON (Reuters) – Anglo American on Friday said it had signed agreements with Chinese fertiliser companies Sinochem Fertiliser and BeiFeng AMP to develop the market for polyhalite fertiliser products in China, even as it slowed the development of its mine for the mineral in northern England. The partnership will include collaborative research on arable crops …
Anglo American signs agreements to promote polyhalite fertiliser in China Read More »
BEIJING (Reuters) – China’s mortgage loans dropped further at the end of June while property development loans picked up, central bank data showed on Friday, as authorities seeks to put a floor under the struggling real estate sector. China’s outstanding individual mortgage loans totalled 37.79 trillion yuan ($5.33 trillion) at the end of June, down …
China’s mortgage loans fall, property development loans rise Read More »
(Reuters) – China is considering allowing homeowners to refinance as much as $5.4 trillion in mortgages to reduce borrowing costs, Bloomberg News reported on Friday, citing people familiar with the matter. Homeowners can negotiate terms with their current lenders before January when banks reprice mortgages, the report said, adding that they would be allowed to …
China considers allowing refinancing on $5.4 tln in mortgages, Bloomberg News reports Read More »
By Tim Kelly TOKYO (Reuters) – Japan’s defence ministry on Friday said it will invest in AI, automation and improving troop conditions to address a worsening recruitment shortfall that has left its forces understaffed amid a build up aimed at countering China’s growing military power. The measures, unveiled in its latest defence budget request on …
Japan’s military to spend on AI, automation, perks to combat recruitment crisis Read More »
By Qiaoyi Li and Kevin Krolicki BEIJING (Reuters) -Chinese autonomous driving startup CiDi expects to turn profitable next year with its offering of software and services focused on mining and factory applications and is willing to consider an IPO among various funding options, its CEO said. “We’re willing to explore various financing avenues including an …
Baidu-backed Chinese autonomous trucking firm expects to be profitable in 2025 Read More »
By Satoshi Sugiyama, Tom Bateman KUMAGAYA, Japan (Reuters) -Grappling with a rice shortage after extreme weather ravaged last year’s crop, Japan is hoping new heat-resistant varieties of its staple food can help stave off future supply shocks. Last summer’s high temperatures and dry conditions led to lower rice yields in key growing regions and damaged …
As sweltering summers ravage crops, Japan bets on heat-resistant rice Read More »
SHANGHAI/BEIJING (Reuters) – Major state-owned banks were buying dollars in China’s onshore foreign exchange market on Friday to slow down a rising yuan, four people with knowledge of the matter said. The banks’ actions come as the yuan strengthened to an eight-month high of 7.0895 per dollar, breaking chart resistance at 7.1 and erasing year-to-date …
China state banks buying dollars amid rapid yuan gains, sources say Read More »
By Liangping Gao and Ryan Woo BEIJING (Reuters) – China’s home prices will fall at a faster pace that previously forecast this year and next, a Reuters poll showed, as support policies from Beijing struggle to help the property sector find a bottom. The poll showed home prices would fall 8.5% in 2024, versus a …
China’s home price outlook for 2024, 2025 worsens: Reuters poll Read More »
