ROME : Italy’s government has ruled that China’s Sinochem cannot designate the chief executive of tyremaker Pirelli despite being its main shareholder with a 37 per cent stake, a source familiar with the matter told Reuters on Saturday. The decision is part of the measures announced this week by Rome’s […]
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TOKYO : Japan plans to stoke competition in smartphone app payments, dominated by Apple and Google, by banning major app store operators from forcing software developers to use the operators’ own payment systems, a government panel said. The final report by the panel, released on Friday, also said major suppliers […]
MOSCOW: Russia on Saturday (Jun 17) said it had destroyed three drones targeting an oil refinery in the southern border region of Bryansk, as Ukraine pursues its counteroffensive against Russian forces. “Russian air defence systems repelled an overnight attack by the Ukrainian armed forces on the ‘Druzhba’ oil refinery in […]
Electric-vehicle startups from Nikola to Lordstown Motors were set on Friday to extend a blistering rally in their shares that has put the cash-strapped companies on track for hefty weekly gains. The winning streak has come without any apparent news or catalyst for the companies, leading several analysts and traders […]
A group of 17 music publishers in the US has sued Twitter, claiming the platform enabled copyright violations involving nearly 1,700 songs. The National Music Publishers’ Association (NMPA) is seeking more than $250m (£197.7m) in damages. In a lawsuit filed at the Federal District Court in Nashville, the NMPA claimed […]
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 […]
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 […]