MANILA : China’s Yadea Group Holdings, one of the world’s biggest electric two-wheeled vehicle makers, plans to invest about $1 billion in a battery factory in the Philippines, the country’s investment promotions agency chief said on Thursday. Yadea is one of a several electric vehicle manufacturers looking at the Southeast […]
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JAKARTA: Indonesia’s trade surplus in May narrowed to the smallest in three years amid surging imports, data by the statistics bureau showed on Thursday. The resource-rich country last year saw exports jump to a historic high on rising global commodity prices. The prices of commodities such as coal and palm […]
TOKYO : Japan’s government and central bank will act to stop the yen’s decline if it depreciates to the 145 per U.S. dollar level, more than half of economists polled by Reuters said. Market participants closely watch how the government and the Bank of Japan (BOJ) respond to currency moves, […]
BEIJING : China’s market regulator on Thursday announced a five-month campaign that will ensure platform companies optimise their protocols, to protect the rights of consumers and vendors. The State Administration for Market Regulation said it will supervise and guide platform firms to conduct self-examination, and improve their protocols to overcome […]
MELBOURNE : Australia has rolled out a series of grants to critical minerals companies hoping to speed up development of a battery chemical industry and will soon announce details of a national industry strategy, its resources minister said on Thursday. Australia is pushing to reap more value from its mineral […]
NEW YORK : Bankers are beefing up risk management, monitoring and emergency procedures around the use of social media after an internet-fueled run toppled Silicon Valley Bank two months ago and sparked turmoil in the industry. In board rooms across the United States, executives are devising programs and plans to […]
LONDON : Japanese businesses have committed to invest almost 18 billion pounds ($23 billion) in Britain ahead of a meeting with Prime Minister Rishi Sunak on Thursday, including funding for offshore wind power and other clean energy projects. Sunak is in Japan for a Group of Seven leaders’ summit and […]
HANOI: Vietnam on Thursday raised its average retail electricity price by 3 per cent, the government said, in a move that could put upward pressure on inflation. Annual inflation in the Southeast Asian country has been easing since the beginning of the year, with April consumer prices rising 2.81 per […]
French IT consulting group Capgemini on Thursday reported a weaker revenue growth in the first quarter of 2023 versus the same period of last year, citing a tense economic environment with clients adopting a “wait-and-see attitude”. The company’s revenue reached 5.73 billion euros ($6.35 billion) over the period, 10.9 per […]
SEOUL: Samsung Electronics on Thursday (Apr 27) reported its worst quarterly profits in 14 years, blaming slowing consumer spending on electronics and a global microchip glut that hit its core memory business. The South Korean company – one of the world’s largest makers of memory chips and smartphones – said […]