(Refiles to correct spelling of ‘dynamic’ in headline) By Farah Master HONG KONG (Reuters) – China’s Henan province has unveiled a 100-day plan to “dynamically clear” youth unemployment as concern grows over record levels of joblessness among young adults, with millions more students due to graduate this year. The plan, to take place in colleges…
By Julie Zhu HONG KONG (Reuters) – Tesla Inc CEO Elon Musk met with Chinese Vice Premier Ding Xuexiang on Wednesday afternoon in Beijing, a source familiar with the matter said. The source declined to provide details of the discussions. The previously unreported meeting followed meetings with China’s commerce and industry ministers earlier in the…
By Mike Dolan LONDON (Reuters) – Even if the U.S. dollar’s singular dominance as global currency of choice is in fact ebbing, it may not automatically lead to a weaker dollar exchange rate – and could periodically mean the opposite. A Federal Reserve less worried about the overspill of its monetary policies to the rest…
BEIJING (Reuters) – China’s new home prices fell for the first time in four months in May and home sales slumped, according to a private survey, adding to pressure on a property market which is struggling to stabilize from a sharp slump. New home prices among 100 cities fell 0.01% month-on-month in May from 0.02%…
By Patturaja Murugaboopathy and Gaurav Dogra (Reuters) – Foreign investors’ selling of Chinese shares gained some momentum in May, as flagging domestic demand and expectations for weak corporate earnings led to steep falls on mainland and Hong Kong stock markets. Refinitiv data shows foreigners sold $1.71 billion worth of mainland shares this month via Stock…
By Josh Smith SEOUL (Reuters) – North Korea’s latest space launcher appears to be a new design and most likely uses engines developed for the nuclear-armed country’s intercontinental ballistic missiles (ICBM), analysts said on Thursday. The rocket, dubbed the Chollima-1, failed during its first launch attempt on Wednesday. It lifted off successfully but its second…
By Richa Naidu, Emma Pinedo and Emilio Parodi MADRID (Reuters) – Spanish police raided three clandestine tobacco factories early this year, seizing nearly 40 million euros ($44 million) worth of tobacco leaf and illicit cigarettes. At one, in the northern town of Alfaro, they found 10 Ukrainian workers, five of them war refugees, who’d been…
By Munsif Vengattil, Aditya Kalra and Jane Lanhee Lee NEW DELHI/OAKLAND, California (Reuters) -Big companies including a Foxconn joint venture that bid for India’s $10 billion semiconductor incentives are struggling due to the lack of a technology partner, a major setback for Prime Minister Narendra Modi’s chipmaking ambitions. A planned $3 billion semiconductor facility in…
By Anant Chandak BENGALURU (Reuters) – India’s factory output expanded at the quickest pace since October 2020 last month thanks to strong demand and output, while improved optimism led firms to hire at the fastest rate in six months, a private survey showed on Thursday. While regional peers such as China, Japan and South Korea…
By Leika Kihara TOKYO (Reuters) – The Bank of Japan must keep monetary policy ultra-loose as it will take time to re-anchor inflation expectations to its 2% target, International Monetary Fund’s chief economist Pierre-Olivier Gourinchas told Reuters. But the central bank must be vigilant to the risk of price growth overshooting expectations, and be ready…
