RIYADH (Reuters) -Saudi Arabia’s crown prince on Sunday launched an initiative to attract investments in supply chains to and from the kingdom, with an aim of raising an initial 40 billion riyals ($10.64 billion). The initiative by Prince Mohammed bin Salman will include allocating about 10 billion riyals in incentives for supply chain investors, state…
(Reuters) – Saudi Arabia’s Crown Prince on Sunday launched a global supply chain resilience initiative to attract 40 billion Saudi riyals ($10.64 billion) of ‘quality, industrial and service investments in global supply chains’ to the kingdom in an initial phase. The initiative by Crown Prince Mohammed bin Salman will include allocating about 10 billion riyals…
By Rachna Uppal and Yousef Saba DUBAI (Reuters) – A public spat between the United States and Saudi Arabia will not deter top Wall Street executives and U.S. business leaders from a flagship investment event starting on Tuesday where the kingdom will seek deals to reduce its economy’s reliance on oil. President Joe Biden has…
By Gilles Guillaume, Maki Shiraki and David Dolan PARIS/TOKYO (Reuters) – The sharing of technology has emerged as a sticking point between Renault SA and Nissan Motor Co Ltd as the pair negotiate an overhaul of their decades-old partnership, two people familiar with discussions told Reuters. The French and Japanese automakers said this month they…
SEOUL (Reuters) -South Korea’s government will expand its corporate bond-buying program among other liquidity supply measures amid growing worries about a credit crunch in bond and short-term money markets. The government will double the ceiling of its corporate bond-buying facility run by state-run banks to 16 trillion won ($11 billion), Minister of Economy and Finance…
SEOUL (Reuters) – South Korea’s financial authorities will raise the ceiling for their corporate bond-buying facility to 16 trillion won ($11 billion) from the current 8 trillion won, Finance Minister Choo Kyung-ho said on Sunday. The measure is aimed at easing concerns of a liquidity crunch in corporate bond and short-term money markets, Choo said…
By Karin Strohecker and Andrea Shalal LONDON/WASHINGTON (Reuters) – A failure to secure meaningful progress on a debt relief for the world’s poorest nations at the International Monetary Fund and World Bank annual meeting in Washington has left policymakers, campaigners and investors frustrated. Two years ago the Group of 20 launched the Common Framework –…
BEIJING (Reuters) – China’s economy has high resilience, sufficient potential and room for manoeuvre, President Xi Jinping said on Sunday, during a ceremony where China unveiled the new members of its highest political body, the Politburo Standing Committee. China will open its doors even wider, Xi also said to dozens of journalists packed into a…
(Reuters) -Dietrich Mateschitz, the Austrian billionaire founder and owner of energy drink company Red Bull, died on Saturday at the age 78 after a serious illness with cancer. His death was confirmed by the championship-leading Red Bull Formula One team. The Styrian-born entrepreneur built a global empire around the energy drink Red Bull and was…
(Reuters) – Dietrich Mateschitz, the billionaire founder and owner of energy drink company Red bull, died at the age 78, Sky News reported on Saturday. (Reporting by Akanksha Khushi in Bengaluru; Editing by Daniel Wallis)
