TOKYO : Senior officials from Japan’s Ministry of Finance, Bank of Japan and banking regulator Financial Services Agency will meet on Friday from 4 p.m. (0700 GMT) to discuss global market developments, the finance ministry said in a statement. Masato Kanda, vice finance minister for international affairs, will speak to […]
Business
NEW DELHI : An oversupply of naphtha at a time of poor demand has squeezed the product’s Asian margins to their weakest levels since the 2008 global financial crisis, traders and analysts said. As Asian refiners boost output of more lucrative products – gasoline and diesel – to overcome global […]
Apple has told some of its contract manufacturers that it wants to increase production outside China, the Wall Street Journal reported, citing people familiar with the matter. India and Vietnam, which are already sites of Apple production, are among the countries short-listed by the company as alternatives, the report added. […]
WASHINGTON: South Korea’s Hyundai Motor Group said on Friday (May 20) it plans to invest about US$5.54 billion to build its first dedicated full electric vehicle (EV) and battery manufacturing facilities in the United States. Hyundai will break ground on its new facility in Georgia in early 2023 and is […]
SEOUL : South Korea’s new central bank chief said on Monday the country’s future monetary policy would be largely dependent on data flows, although inflation was a bigger concern for now than economic growth. Rhee Chang-yong, inaugurated last week as governor of the Bank of Korea, also told reporters the […]
A Florida official praised Elon Musk’s offer to buy Twitter Inc and said pension officials will tell the company its efforts to fend off the bid could hurt shareholder value. “We’re definitely very concerned about them leaving offers on the table,” said Florida Chief Financial Officer Jimmy Patronis in a […]
TOKYO : Toshiba Corp said on Thursday it has resolved to solicit proposals on strategic alternatives, including privatisation of the company. The company has retained Nomura Securities as an adviser and expects to complete evaluation of non-binding proposals before its annual general meeting of shareholders, it said in a release. […]
JAKARTA : Indonesia’s exports and imports hit record highs in March amid rising commodity prices due to the impacts of the Ukraine war, helping the resource-rich country book a wider-than-expected trade surplus, statistics bureau data showed on Monday. March exports from Indonesia were worth $26.5 billion, up 44.36per cent on […]
Billionaire entrepreneur Elon Musk posted a tweet on Saturday saying “Love Me Tender”, days after he took aim at Twitter Inc with a $43 billion cash takeover offer. After Musk’s TED talk on Thursday, he hinted at the possibility of a hostile bid in which he would bypass Twitter’s board […]
WELLINGTON: Australians started arriving in New Zealand today after it opened its borders to travellers from its neighbouring nation for the first time since mid-2021. New Zealand had some of the toughest curbs in the world during the pandemic and its borders have been closed for most of the time […]