HONG KONG (Reuters) – China Evergrande New Energy Vehicle Group Ltd said on Tuesday it would start taking pre-orders for its first model, a key milestone for the unit of embattled property developer China Evergrande group. The start of pre-orders for the sport-utility vehicle comes after Evergrande Chairmen Hui Ka Yan vowed within 10 years…
COLOMBO, Sri Lanka (AP) — Sri Lanka’s negotiations with the International Monetary Fund on a bailout are more complex and difficult than before because it is a bankrupt nation, the country’s prime minister said Tuesday. Prime Minister Ranil Wickremesinghe told lawmakers that recent discussions with a visiting IMF mission were fruitful but not as straightforward…
(Reuters) – Russian businessman Vladimir Potanin, the largest shareholder at mining giant Nornickel, said on Tuesday that he was ready to discuss a possible merger of Nornickel with aluminium producer Rusal. The proposal came from the management of Rusal, Potanin said in an interview with RBC TV. Rusal did not immediately reply to a Reuters’…
BEIJING (AP) — China’s envoy to trade war talks with Washington expressed concern about U.S. tariffs on Chinese imports during a phone call Tuesday with Treasury Secretary Janet Yellen, the Ministry of Commerce announced, but it gave no indication of progress toward resolving an array of conflicts. Vice Premier Liu He and Yellen also discussed…
TOKYO (AP) — Asian shares were mostly lower Wednesday after tepid trading on Wall Street amid worries about a global recession. Major benchmarks fell across Asia. Oil prices recouped some lost ground after plunging on Monday. Analysts said markets were focusing on a variety of risks, including inflation, oil prices, moves by the U.S. Federal…
CANBERRA, Australia (AP) — Australia’s central bank on Tuesday lifted its benchmark interest rate for a third time in three straight months, changing the cash rate to 1.35% from 0.85%. The Reserve Bank of Australia’s half a percentage point rise was the same size as its June increase. When the bank lifted the rate by…
ZURICH (Reuters) – Credit Suisse on Tuesday said it was naming Roger Suter its new head of private banking in Switzerland, succeeding current manager Serge Fehr. “Credit Suisse is today announcing that Roger Suter, currently Regional Head Central Switzerland, will take over from Serge Fehr as Head Private Banking Switzerland, effective August 1, 2022,” the…
BEIJING (AP) — Chinese authorities refused to let Canadian diplomats attend the trial of a Chinese-born Canadian tycoon who disappeared from Hong Kong five years ago, Canada’s government said Tuesday. Xiao Jianhua was last seen at a Hong Kong hotel in January 2017 and was believed to have been taken to the mainland by Chinese…
TOKYO (AP) — Asian shares advanced Monday across the board as buying set in after the lull of a U.S. national holiday. Analysts said the optimism may be driven by expectations the U.S. may decide to cut Chinese tariffs, a welcome move that would also help tame inflation. China’s Commerce Ministry said Tuesday that Vice…
By Cynthia Kim and Jihoon Lee SEOUL (Reuters) -South Korea’s inflation last month hit the highest since the Asian financial crisis more than two decades ago, adding to signs of building strains on the open, trade-dependent economy and fanning expectations of a big rate hike by the central bank. Data showed on Tuesday the consumer…
