SINGAPORE (Reuters) – A private banking industry group in Singapore on Friday denied a media report that the city state had asked global banks to keep quiet on wealth inflows coming from China over the past year due to political sensitivity. The Financial Times reported earlier on Friday, citing unidentified people, that the “tacit directive” …
BENGALURU (Reuters) -Reliance Industries Ltd’s Viacom18 will receive an investment of 43.06 billion rupees ($527.84 million) from Bodhi Tree, about 70% less than what was planned by the joint venture between James Murdoch and a former Star India executive. Viacom18 said in a statement late on Thursday that Reliance was now leading the investment in …
James Murdoch’s Bodhi Tree slashes planned investment in Reliance’s Viacom18 Read More »
MUMBAI (Reuters) – India’s foreign exchange reserves jumped to $584.76 billion for the week ended April 7, the highest in nine months, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday. That is an increase of $6.3 billion from the previous week. The central bank intervenes in the spot and forwards markets to …
BEIJING (Reuters) – China will take steps to stabilise employment, particularly at manufacturing and trading companies, state media reported on Friday, citing discussions at a cabinet meeting. Companies are slowly adding jobs again after shedding staff for months, as the world’s second-largest economy continues to warm up after the lifting of COVID restrictions late last …
China will take steps to stabilise employment – cabinet meeting Read More »
By Chen Lin and Victoria Waldersee SINGAPORE/BERLIN (Reuters) -Tesla Inc on Friday slashed prices for its electric vehicles in Europe, Israel and Singapore, expanding a global discount drive it began in China in January while raising concerns about its industry-leading profit margin. Tesla last week reported first-quarter deliveries up just 4% from the previous quarter …
Tesla expands discounts with price cuts in Europe, Singapore, Israel Read More »
BRUSSELS (Reuters) – The European Commission said on Friday it had prolonged anti-dumping tariffs on stainless steel fittings from China and Taiwan for five years and extended them to Malaysia. The Commission’s review of the measures concluded that removal of the tariffs would have led to continued dumping in an European Union market worth some …
EU prolongs stainless steel tariffs for China, Taiwan Read More »
By Samuel Shen and Selena Li SHANGHAI/HONG KONG (Reuters) – Warburg Pincus has received Chinese regulatory approval to buy a 23.3% stake in Zhong Ou Asset Management Co, as the U.S. private equity giant expands its foothold in China’s $3.8 trillion mutual fund market. Warburg Pincus said in a statement that once completed the purchase …
Warburg Pincus gets approval to buy a 23% stake in China’s Zhong Ou Read More »
BENGALURU (Reuters) – Indian state-owned oil marketing company Bharat Petroleum Corporation Ltd on Friday said it had received approval from the Madhya Pradesh state government for expanding its Bina refinery and setting up a petrochemical project. Bharat Petroleum will invest 430 billion rupees ($5.27 billion) to 500 billion rupees for the two projects, adding that …
India’s Bharat Petroleum gets Madhya Pradesh state govt approval for refinery expansion Read More »
(Reuters) – Indian automaker Tata Motors said on Friday it will raise prices of its passenger vehicles due to an increase in input costs and regulatory changes that make it costlier to produce cars, the second time this year it will make such a move. “The weighted average increase will be 0.6%, depending on the …
India’s Tata Motors to raise passenger vehicle prices for second time in 2023 Read More »
