KARACHI, Pakistan (Reuters) -The Pakistani rupee fell 1.3% to a record low of 288.5 against the U.S. dollar on Wednesday, a day after former prime minister Imran Khan was arrested by the anti-corruption agency in Islamabad. Pakistan’s international bonds nudged lower with the 2024 issue down 0.4 cents on the dollar, according to Tradeweb data….
SHANGHAI (Reuters) -BYD Co Ltd on Wednesday cut the starting price of its best-selling Seal sedan by 10%, as the Chinese electric vehicle (EV) giant seeks to extend its lead in the world’s largest auto market with lower-priced products. The company replaced its line-up of the model with five new versions. That includes a rear-wheel…
TOKYO (Reuters) -Mitsubishi Heavy Industries on Wednesday said it expects to book record defence equipment orders this business year as Japan embarks on its biggest military expansion since World War Two. The government plan to double defence spending to around 2% of gross domestic product within five years includes subsidies to support Japan’s fractured defense…
By Svea Herbst-Bayliss NEW YORK (Reuters) -Proxy advisory firm Institutional Shareholder Services (ISS) on Tuesday backed ValueAct Capital’s boardroom challenge at Japanese convenience store operator Seven & i Holdings by recommending shareholders elect all four of the U.S. investment firm’s director candidates. ValueAct, which owns 4.4% of Seven & i, has long criticized the company’s…
WASHINGTON (Reuters) -The United States is encouraging the World Health Organization to invite Taiwan as an observer at its annual meeting in Geneva from May 21 to 30, Secretary of State Antony Blinken said on Tuesday, in remarks that provoked criticism from China. China, which considers Taiwan to be one of its provinces, began blocking…
By Kantaro Komiya TOKYO (Reuters) – Japan’s economy likely grew in January-March at the fastest pace in three quarters, as spending in the services sector offset soft business activity, a Reuters poll showed. Japan has so far been spared major impact from deteriorating global economic conditions thanks in part to the services sector enjoying a…
ROME, May 10 (Reuters) – Italian industrial output was weaker than expected in March, falling 0.6% from February to register a third consecutive month of contraction, data showed on Wednesday. A Reuters survey of 20 analysts had pointed to a 0.3% monthly rise. On a work-day adjusted year-on-year basis, national statistics bureau ISTAT said output…
(Reuters) – Myanmar’s shadow government welcomes efforts by ASEAN chair Indonesia to kickstart peace talks in the strife-torn Southeast Asian nation but is deeply distrustful of the junta that took power in a 2021 coup, a spokesperson said on Wednesday. Leaders of the Association of Southeast Asian Nations (ASEAN) holding a summit in Indonesia have…
BANGKOK (Reuters) – Thailand’s food exports are expected to rise by 2.1% to a record of 1.5 trillion baht ($44.31 billion) this year, helped by a recovery in global demand and China’s reopening, a leading industry group said on Wednesday. The country’ food shipments, which account for 14.6% of the total, increased 10% year-on-year to…
By Lina Golovnya and Diana Mandia (Reuters) -French train maker Alstom on Wednesday forecast a rise in its annual operating margin, saying the market momentum remained very positive, but delayed its mid-term targets by one year due to high inflation. Alstom shares were down 4.8% at 0749 GMT, the worst performer on the French blue-chip…
