JAKARTA (AP) — Countries must avoid tensions and cooperate to support a recovery from the pandemic as it lingers in many parts of the world, Indonesian President Joko Widodo told a gathering of top financial leaders of the world’s largest economies Thursday. “The winter is coming,” Widodo said in welcoming finance ministers and heads of…
BANGKOK (AP) — New Zealand said Thursday it will not deal with Myanmar under a major 15-nation trade agreement, the world’s largest that took effect this year, citing the deadly violence and democratic setbacks in the Southeast Asian country after the military seized power last year. Two Asian diplomats told The Associated Press that New…
BERLIN (Reuters) – Continental is considering splitting into four separate businesses to boost its market capitalisation but must convince majority shareholder Schaeffler of the plan, Manager Magazin reported, sending Continental shares up 3.5%. The four business areas – tires, autonomous driving, automotive, and ContiTech – would either be sold or put on the market, the…
By Tom Sims and Frank Siebelt FRANKFURT (Reuters) -Commerzbank swung to a better-than-expected fourth-quarter and annual net profit despite undergoing a major overhaul, the German lender said on Thursday, and also painted a rosy outlook for 2022. Profit this year will exceed 1 billion euros ($1.14 billion), Commerzbank said, beating analyst forecasts. It added that…
By Mathieu Rosemain PARIS (Reuters) -Orange, France’s biggest telecoms operator, expects a return to core profit growth in 2022 after lower returns from co-financing deals and high competition in the Spanish market hit earnings last year. The state-controlled former monopoly struggles to maintain strong upward momentum in revenue, caught between the need to upgrade networks…
By Joe Bavier and Rachel Savage JOHANNESBURG/LONDON (Reuters) – Wealthy nations must improve their floundering flagship debt relief initiative or face a spate of debt crises in the developing world, experts and campaigners say as finance chiefs of G20 major economies prepare for meetings later this week. As the pandemic battered global economies, the Group…
BANGKOK (AP) — Stocks fell Friday in Asia after a retreat on Wall Street as escalating worries over the possibility Russia may invade Ukraine rattled global financial markets. Benchmarks were moderately lower in Tokyo, Hong Kong, Sydney, Seoul and Sydney. On Thursday, the S&P 500 fell 2.1%, its biggest drop in two weeks, the Dow…
PARIS (Reuters) – Europe’s Airbus predicted 720 plane deliveries and higher profits in 2022 after its core operating profit almost trebled last year on a partial recovery in jet deliveries and solid defence and helicopter sales during the pandemic. Europe’s largest aerospace group also restarted its dividend for the first time in two years after…
By Chen Lin and Aradhana Aravindan SINGAPORE (Reuters) – As a depleted Singapore Airshow winds down, delegates reported growing optimism as the hard-hit Asian aerospace market begins to recover despite emerging concerns around labour shortages, rising costs and supply chain challenges. Organisers had estimated attendance of more than 13,000 ahead of the four-day show –…
TOKYO (AP) — Japan racked up a 2.2 trillion yen ($19 billion) trade deficit last month, an eight-year high, as the cost of energy imports soared, the government said Thursday. The Finance Ministry said exports edged up 9.6% in January from the same month the previous year. Imports jumped 39.6%, resulting in the sixth straight…
