BEIJING (Reuters) – Chinese offshore oil and gas major CNOOC believes that fossil fuel will be a stabilising factor in global energy demand for the foreseeable future, its president said on Thursday. The company will focus its low-carbon investment on new energies with the best cost advantages, Zhou Xinhuai said at the company’s results briefing. …
China’s CNOOC says fossil fuel crucial for the foreseeable future Read More »
TOKYO (Reuters) – Tokyo Electric Power Co will invest 470 billion yen ($3.25 billion) by financial year 2027 to expand its power grid to meet growing electricity demand for AI data centres, the Nikkei business daily reported on Thursday. The Japanese utility giant will triple its investment in power grid infrastructure in the next five …
TEPCO to invest $3.25 billion in power grid for AI demands, Nikkei reports Read More »
SEOUL (Reuters) – The CEO of South Korea’s Young Poong Corp has been arrested, the company said on Thursday, as prosecutors investigated his liability over safety-related deaths at the company’s Seokpo zinc smelter. A South Korean court approved early Thursday an arrest warrant for Young Poong’s CEO, Park Young Min, after prosecutors alleged he violated …
CEO of South Korean zinc firm Young Poong arrested Read More »
(Reuters) – Shares in French spirit makers Remy Cointreau and Pernod Ricard rallied early on Thursday after China’s commerce ministry said it will not impose provisional anti-dumping measures on brandy imported from the European Union. Shares in Remy, which jumped over 12%, were up 7% by 0851 GMT, while Pernod, which climbed as much as …
European spirits makers jump after China drops provisional brandy measures Read More »
By Jessie Pang and James Pomfret HONG KONG (Reuters) – After Hong Kong police raided Stand News and arrested two editors, its staff decided that to avoid more arrests they had to shut down the online media outlet, whose hard-hitting reports of the 2019 pro-democracy protests saw its readership surge. Later that day, Dec. 29, …
By Hyunsu Yim and Jihoon Lee SEOUL (Reuters) -South Korean President Yoon Suk Yeol on Thursday pledged urgent reform of the national pension fund, one of the world’s largest with $860 billion of assets, to make it more equitable and to ensure income security for an ageing population. Yoon said there had been a loss …
South Korea’s Yoon pledges urgent reform of $860 billion public pension fund Read More »
SHANGHAI/HONG KONG (Reuters) – UBS said on Thursday that Janice Hu will replace Eugene Qian as China location head. Qian has decided to step down for family reasons, UBS said in an emailed statement. (Reporting by Shanghai newsroom; editing by Jason Neely)
By Aditi Shah NEW DELHI (Reuters) – Hyundai Motor, long the most successful foreign automaker on Indian roads, is hoping to regain market share from increasingly formidable domestic rivals by launching a series of new SUVs as it gears up for a $3 billion public listing in the country. The SUV rollout will begin with …
Hyundai plots India SUV rollout as domestic competition mounts ahead of IPO Read More »
By Sinead Cruise and Lawrence White LONDON (Reuters) – HSBC’s Wealth and Personal Banking chief Nuno Matos is resigning to pursue other opportunities, the Asia-focused bank said on Thursday, in one of several significant changes in its leadership on the eve of Georges Elhedery starting as CEO. HSBC will replace Matos with Barry O’Byrne, currently …
HSBC wealth chief Matos leaves as new CEO shakes up team Read More »
SINGAPORE (Reuters) – The retail offering for the initial public offering (IPO) of Malaysia’s top mini-market chain 99 Speed Mart Retail Holdings has been oversubscribed by 3.04 times, the issue’s manager said on Thursday. The company is offering up to 2.36 billion ringgit ($546.04 million) worth of shares, out of 346.5 million ringgit was earmarked …
Retail offering of 99 Speed Mart’s IPO, Malaysia’s largest in 7 years, oversubscribed Read More »
