By Joe Cash BEIJING (Reuters) -Chinese Premier Li Qiang went to the World Economic Forum in Davos last week with a mission to present a positive image of the economy and schmooze financial elites: “Investing in the Chinese market is not a risk, but an opportunity.” The message fell flat. As soon as Chinese markets …
China’s attempts to lift confidence in economy fall flat Read More »
By Nell Mackenzie, Carolina Mandl and Summer Zhen LONDON/NEW YORK/HONG KONG (Reuters) – Attacks in the Red Sea by Iranian-backed Houthi militants on shipping vessels have dealt global supply chains a fresh blow. The disruption caused to shipping through the Suez Canal, the shortest sea route between Europe and Asia, have squeezed supplies in oil, …
How hedge funds would trade Red Sea supply disruptions Read More »
BENGALURU (Reuters) – India’s Tata Steel reported a third-quarter profit on Wednesday, as declining expenses more than offset lower revenue due to weak domestic prices. Subdued local prices due to cheaper shipments from top producer China hurt the country’s steelmakers in the October-December period, despite sustained domestic demand. The quarter partly coincided with an eight-month …
India’s Tata Steel posts Q3 profit as lower costs counter weak revenue Read More »
By Toby Sterling AMSTERDAM (Reuters) -Dutch computer chip equipment maker ASML said on Wednesday it expected new U.S. and Dutch export curbs to reduce sales of its mid-range “DUV” product lines to China by about 10% to 15% this year, after they hit record levels in 2023. CFO Roger Dassen also confirmed that another older …
ASML expects US, Dutch export rules to hit China sales by 10-15% Read More »
BENGALURU (Reuters) – India’s PNB Housing Finance reported a nearly 26% rise in third-quarter profit on Wednesday, as lower overall expenses made up for dipping interest income. The company, a unit of state-run lender Punjab National Bank, said its consolidated net profit rose to 3.38 billion rupees (nearly $41 million) for the quarter ended Dec. …
India’s PNB Housing Finance posts Q3 profit rise on lower expenses Read More »
NEW DELHI (Reuters) – India’s cabinet on Wednesday approved plans to provide incentives worth 85 billion rupees ($1.02 billion) for projects to convert coal into gas, the coal and mines minister said, as it seeks to reduce its reliance on imported fuel. The financial assistance by the government will include 40.5 billion rupees for Public …
India approves 85 billion rupees in incentives for coal gasification Read More »
By VarunVyas Hebbalalu, Nandan Mandayam and Kashish Tandon BENGALURU (Reuters) -India’s TVS Motor and Bajaj Auto on Wednesday forecast lingering challenges to recovery in exports, even as both beat third-quarter profit estimates. Successive festive and wedding seasons, periods when Indians prefer to make big-ticket purchases, helped TVS and Bajaj Auto post profits comfortably above analyst …
India’s TVS, Bajaj Auto forecast challenges to export recovery Read More »
By Amlan Chakraborty HYDERABAD, India (Reuters) -Spinner Shoaib Bashir has been ruled out of England’s opening test against India following a visa delay, now resolved, an episode that has marred the buildup to the five-match series between the sides beginning in Hyderabad on Thursday. Bashir, who is of Pakistani heritage, returned to London from Abu …
Cricket-England’s Bashir granted visa for India but still misses first test Read More »
By Liz Lee and Ryan Woo BEIJING (Reuters) -China on Wednesday upgraded its diplomatic ties with Uzbekistan and offered closer cooperation across a range of projects, including a Central Asia railway that would open up a new trade route as shippers shun an existing overland link via Russia. The two countries have elevated their ties …
China seals closer Uzbek ties, pushes railway route bypassing Russia Read More »
By Kevin Yao and Ellen Zhang BEIJING (Reuters) -China’s central bank announced a deep cut to bank reserves on Wednesday, in a move that will inject about $140 billion of cash into the banking system and send a strong signal of support for a fragile economy and plunging stock markets. The central bank’s announcement, coming …
China cuts bank reserves to defend markets, spur growth Read More »
