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China orders investigation into explosion at Panjin Haoye chemical factory

LONDON (Reuters) – China’s State Security Commission has ordered an investigation into the recent explosion at Panjin Haoye Chemical Co Ltd’s factory, according to a statement from the Liaoning provincial government on Thursday. Twelve people were killed and one is missing after an explosion occurred on Jan. 15 at the refinery and petrochemical complex in …

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Taiwan premier, cabinet submit resignations ahead of reshuffle

TAIPEI (Reuters) -Taiwan Premier Su Tseng-chang submitted his resignation along with that of his cabinet to President Tsai Ing-wen on Thursday ahead of a widely expected government reshuffle, but there was no immediate word about his successor. Su’s move follows the ruling Democratic Progressive Party’s (DPP) trouncing at local polls in November, and comes as …

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Slumping China-bound Japanese exports raise fears of global downturn

By Tetsushi Kajimoto TOKYO (Reuters) – Japan’s export growth slowed sharply in December as China-bound shipments fell for the first time in seven months, stoking fears of further slowdown in the global economy and external demand for Japanese shipments. Exports rose 11.5% year-on-year in December after a gain of 20% in November, marking the slowest …

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Rupee seen lower as growth fears hit risk sentiment

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee is likely to weaken at open against the U.S. dollar on Thursday as mounting global growth concerns prompted investors to exit risk assets. The rupee is tipped at around 81.45 to the dollar in early trading against the dollar, compared with the 81.24 close in the …

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China seen keeping benchmark lending rates unchanged for fifth month

SHANGHAI (Reuters) – China is expected to keep benchmark lending rates unchanged for a fifth month in January, a Reuters survey showed, although analysts think cuts next month are probable after the central bank pledged steps to boost a COVID-ravaged economy. The imminent golden week holiday, the decision by the People’s Bank of China to …

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South Korea envoy in Iran summoned over Yoon’s ‘enemy’ remarks -media

By Hyonhee Shin SEOUL (Reuters) – Iran’s foreign ministry summoned South Korea’s ambassador to protest against South Koran President Yoon Suk-yeol’s comment that the Islamic republic is the enemy of the United Arab Emirates (UAE), Iranian state media reported. Yoon, speaking with South Korean troops stationed in Abu Dhabi early this week, said South Korea …

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Japan Inc is finally giving raises, just not to everyone

By David Dolan and Daniel Leussink TOKYO (Reuters) -Japan’s top companies are gearing up to offer their biggest wage increases in decades, but there’s no way Hideki Kawada can afford raises for the 18 employees at his printing firm. Prime Minister Fumio Kishida has called on Japan Inc to increase pay and reverse decades of …

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BOJ may raise yield cap again by mid-year, says academic Ito

By Leika Kihara and Takaya Yamaguchi TOKYO (Reuters) – The Bank of Japan (BOJ) may raise a cap set around its 10-year bond yield target to 0.75% or double it to 1.0% by around mid-year if inflation overshoots its expectations, Columbia University academic Takatoshi Ito said on Thursday. Any such move would not happen at …

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As South Korean government proposes flexible overtime rules, some fear workers may suffer

By Hyunsu Yim SEOUL(Reuters) – The administration of South Korean president Yoon Suk Yeol wants to allow people to work up to 69 hours a week – up from the current 52 – and bank overtime hours in exchange for time off, a plan it hopes will promote family growth alongside productivity. The government says …

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Australia says it’s ‘troubled’ by delays in writer’s espionage trial verdict in China

By Kirsty Needham SYDNEY (Reuters) – A verdict in the espionage trial of Australian writer Yang Hengjun, detained by China since his arrest there four years ago, has been delayed until April, the seventh such delay, his supporters said on Thursday. Pro-democracy blogger Yang is an Australian citizen born in China who was working in …

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