By Yimou Lee and Faith Hung TAIPEI (Reuters) -Apple supplier Foxconn on Wednesday surpassed expectations with a 6% rise in quarterly net profit, driven by a boom in demand for AI servers, and stood by its forecast for full-year revenue to grow significantly. The world’s largest contract electronics maker said it expected robust demand for …
Apple supplier Foxconn’s profit beats forecasts as it rides AI boom Read More »
BEIJING (Reuters) – China’s Xuzhou Construction Machinery Group (XCMG) has signed an agreement with global miner Rio Tinto’s Simfer to supply equipment for its giant, untapped Simandou iron ore project in Guinea, the Chinese company said on Wednesday. China’s leading construction machinery manufacturer, headquartered in east region of Xuzhou city, will provide core mining equipment …
China’s XCMG signs deal with Simfer for giant Simandou iron ore project Read More »
(Reuters) -Singapore-based commodities trader Olam Group on Wednesday posted a marginal rise in first-half profit as a jump in revenue was almost completely overshadowed by higher costs. Olam, among the world’s biggest agricultural commodity traders, said profit attributable rose 0.2% to S$48 million ($36.5 million) in January-June from S$47.9 million a year ago. The firm’s …
Singapore’s Olam Group posts marginal rise in first-half profit, shares drop Read More »
COPENHAGEN (Reuters) – Carlsberg expects the Chinese beer market to stay gloomy in the second half of the year due to weak consumer sentiment, the Danish brewer’s CEO said on Wednesday. “There’s no doubt that the Chinese market is tough. It declined 5% in the first half of the year, and we don’t see that …
Carlsberg CEO sees weak Chinese beer market also in H2 Read More »
(Reuters) – Foreign investors were net buyers of Asian bonds for the third consecutive month in July, spurred by strong regional export growth and expectations of a September rate cut by the U.S. Federal Reserve. Overseas investors purchased a net $7.91 billion worth of bonds in Indonesia, India, Malaysia, South Korea and Thailand in July, …
Asian bonds attract hefty inflows on US rate outlook, strong exports Read More »
By Joe Cash BEIJING (Reuters) – A recent string of dismal indicators have dulled expectations for China’s economic performance in July, in an ominous sign for the rest of 2024 and pointing to the need for more stimulus measures beyond plastering over pain points in the world’s second-largest economy. Calls for more growth boosting measures …
No respite for Chinese officials as economy shows new signs of weakness Read More »
KUALA LUMPUR (Reuters) – Malaysia plans to pursue a $2.4 billion deal to acquire new passenger trains for state rail company Keretapi Tanah Melayu Berhad (KTMB) via a leasing agreement with China, the transport minister said on Wednesday. In the first phase from 2024 to 2027, the government aims to acquire 62 new passenger train …
Malaysia to acquire trains through $2.4 billion leasing deal with China Read More »
By Kenrick Cai and Max A. Cherney MOUNTAIN VIEW, California – Alphabet’s Google on Tuesday unveiled a lineup of new Pixel smartphones with deeper integrations of its artificial intelligence technology as it races to incorporate AI into its hardware. The event at Alphabet’s Bay View campus in Mountain View, California, bucks a tradition Google has …
Google unveils new phones and other gadgets powered by AI Read More »
By Kevin Yao and Ellen Zhang BEIJING (Reuters) -China’s bank lending tumbled more than expected in July, hitting the lowest in nearly 15 years, dragged down by tepid credit demand and seasonal factors and raising expectations that the central bank may dole out more easing steps. Chinese banks extended 260 billion yuan ($36.28 billion) in …
China new loans hit 15-year low in July, more policy steps expected Read More »
(Reuters) – Singaporean agri-business company Wilmar International reported a 5% rise in its first-half core net profit on Tuesday, boosted by strong performance in its food products and feed & industrial products segments. The company, one of the world’s largest food producers, said core net profit was $606.3 million for the half year ended June …
Singapore’s Wilmar International reports 5% rise in first-half profit Read More »
