News

Tue, 23 Jul 2019 04:08:45 GMT

Japan to proceed with tax hike

The Finance Minister of Japan Taro Aso stated on Tuesday that the mere fact of election victory should be considered as people's support for the government plans to increase taxes.

Tue, 23 Jul 2019 03:24:18 GMT

LG to invest $2.6B in OLED panel factory

LG Display stated on Tuesday that it is likely to invest $2.6B in the company's organic light-emitting diode panels production lines in South Korea.

Tue, 23 Jul 2019 02:33:30 GMT

Huawei's US research unit slashes workforce

China's Huawei Technologies announced that it was slashing at least 600 positions at the Futurewei Technologies research unit in the US after being included in the trade blacklist by the country's government.

Mon, 22 Jul 2019 20:01:59 GMT

Malaysia continues to accumulate reserves

The Bank Negara Malaysia stated on Monday that in the first half of July the central bank's reserves have increased 0.6%, reaching $103.3B.

Mon, 22 Jul 2019 19:12:49 GMT

PBOC throws cash into market

On Monday, the People's Bank of China (PBOC) dumped $7.27B into the market via acquisition of securities from banks at 2.55% with a promise to sell them again in future.

Mon, 22 Jul 2019 17:46:03 GMT

Weekly crude prices down almost 7%

Last week, crude oil prices fell 6.37%, reaching $55.63 a barrel, amid deterioration of the situation between Iran and its western opponents in the Strait of Hormuz.

Mon, 22 Jul 2019 17:23:11 GMT

Chinese woodworking firms to continue exploring US market

Yang Fei, the Foreign Trade Manager of Chinese woodworking company Suzhou Far-East Abrasives, stated on Monday that the company planned to increase cloth and sanding belt to the US market.

Mon, 22 Jul 2019 15:48:41 GMT

France's Casino sells Vindémia to trim debt

Casino, the French supermarket retailer, is set for its subsidiary Vindémia sale in a deal valued at $246M, as the company had been put under pressure to cut its high debts.

Mon, 22 Jul 2019 14:50:30 GMT

Russia's Novatek completes stake sale in Arctic LNG-2

Novatek, Russia's natural gas producer, announced on Monday it had finalised the stakes sale it owned in the Arctic LNG-2 project to Japan Arctic LNG's consortium, CNOOC and the Chinese National Petroleum Corporation.

Mon, 22 Jul 2019 14:11:33 GMT

Equifax to pay $650M to settle US data breach

Equifax, the credit reporting company, is set to pay up to $650M to settle the US state and federal inquiries into a massive professional information data breach that took place in 2017, authorities stated on Monday.

Mon, 22 Jul 2019 13:06:10 GMT

Hana Bank to take 15% stake in Vietnamese lender BIDV

The South Korean Hana Bank agreed to acquire a 15% stake in Vietnam's second-largest listed bank BIDV in a deal valued at $850M, its owner Hana Financial Group announced on Monday.

Mon, 22 Jul 2019 12:39:42 GMT

China's ByteDance to open data centre in India

China's ByteDance announced on Monday about its plans to set up a data centre based in India, despite facing concerns over consumer privacy and ban demands on TikTok, its popular video app.

Mon, 22 Jul 2019 10:48:05 GMT

Ted Baker's shares rise on PE buyout reports

On Monday, Ted Baker's shares surged more than 15% after media reported the company's founder Ray Kelvin could explore the high street retailer's private equity buyout, a few months after his resignation, according to the Sunday Times.

Mon, 22 Jul 2019 10:34:40 GMT

China's Tencent to tie-up with The Pokemon over new game

On Monday, China's Tencent Games stated its Timi Studio would team up with Nintendo's The Pokemon Company to develop a new game, not providing any further details on the tie-up.

Mon, 22 Jul 2019 09:23:15 GMT

France's Natixis denies potential offer for Coface

On Monday, the French bank Natixis denied it had been in talks on a possible takeover bid for the credit insurance subsidiary Coface, in which the French lender held a stake of about 41.7%.

Mon, 22 Jul 2019 08:08:35 GMT

India calls on Big Four's antitrust review

India's government called on the country's antitrust watchdog to review whether the "Big Four" auditing companies and their units are affecting competition in India in any manners, senior government official stated on Monday.

Mon, 22 Jul 2019 06:48:06 GMT

Metro Bank explores loan portfolio sale

On Monday, Metro Bank has confirmed it had been in talks over the loan portfolio sale, as the troubled lender sought to kick off the mortgage portfolio to Cerberus Capital Management in a potential deal worth £500M.

Mon, 22 Jul 2019 06:36:07 GMT

Philips Q2 results beat forecasts amid growth rise

On Monday, the Dutch health technology group Philips reported its Q2 comparable sales rose 6% to $5.24, beating analysts' estimates, and driven by high demand for its US and Chinese hospital equipment.

Mon, 22 Jul 2019 04:57:03 GMT

UK's Johnson sees tree trade deal as resolution

The British Prime Minister front-runner Boris Johnson stated that the UK could agree the free trade deal to withdraw from the EU bloc, breaking the Brexit deadlock, according to The Telegraph newspaper.

Mon, 22 Jul 2019 04:39:22 GMT

Toyota unveils AI field support robot's prototype

On Monday, the Japanese automaker Toyota Motor has revealed a prototype of the field support robot on its "e-Palette" ride-hailing vehicle, which is currently under development.

Mon, 22 Jul 2019 03:37:29 GMT

China to impose anti-dumping duties

China stated that it is likely to impose anti-dumping taxes on some products of stainless steel imported from the EU, Japan, Indonesia and South Korea, the country's Ministry of Commerce stated in a statement.

Mon, 22 Jul 2019 02:29:03 GMT

South Korean exports down 13.6%

South Korea's exports for the 20 days of July fell markedly 13.6% year-on-year, customs data revealed on Monday, led by weak semiconductor shipments, underscoring weakness in global demand.

Sun, 21 Jul 2019 19:42:15 GMT

Shinzo Abe comments on coalition with US

On Sunday, the Prime Minister of Japan Shinzo Abe announced that no decision has still been made to the US request to send the Japanese navy to the shores of Iran and Yemen.

Sun, 21 Jul 2019 18:43:33 GMT

Italian coalition prepares for showdown

On Sunday, Italian coalition partners were preparing for a showdown during next week, which will determine whether the government remains intact or collapses.

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