By Aditi Shah NEW DELHI (Reuters) – General Electric’s aviation arm, already expecting to benefit from a boom in Indian domestic air travel, sees an even bigger boost from a surge in international travel that will drive demand for larger jets, its country head said. Engines built by GE Aerospace and partner Safran power about…
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s key inflation rate eased to 25.2% in May from 35.3% in April, the statistics department said on Wednesday, reducing some stress on the crisis-hit economy. Soaring inflation has battered the economy for more than a year after a severe foreign exchange crisis set off the Indian Ocean…
BERLIN (Reuters) -Volkswagen will not participate in a discount battle in China “at any price”, Chief Operating Officer Ralf Brandstaetter said in an interview released on Wednesday. The German carmaker is under growing pressure in its most important market from up-and-coming Chinese manufacturers who are more successful with electric cars than their Western rivals. “Volkswagen…
FRANKFURT (Reuters) – Policy normalisation by the Bank of Japan could test the resilience of global bond markets, the European Central Bank warned on Wednesday in an unusually strong message about policy prospects in another jurisdiction. Bank of Japan (BOJ) Governor Kazuo Ueda has said the central bank is unwavering in its stance of patiently…
TAIPEI (Reuters) – Taiwan’s economic growth is likely to be low in the first half of the year under continuing global inflationary pressure, but export momentum may pick up in the second half, the island’s central bank said on Wednesday. Taiwan, home to major tech firms including the world’s largest contract chip maker TSMC, has…
By Josh Smith and Sakura Murakami SEOUL/TOKYO (Reuters) – North Korea is unlikely to be deterred from its quest to place cargoes in space, analysts said, even though a malfunction sent a new launch vehicle and the country’s first spy satellite crashing into the ocean on Wednesday. The secretive country considers its space and military…
(Reuters) – Electric vehicle (EV) startup Faraday Future Intelligent Electric launched its limited edition FF 91 2.0 Futurist Alliance vehicle on Tuesday, priced at $309,000. The company said the model is limited to 300 units globally and that it has opened reservations in both U.S. and China. The startup also launched the regular FF 91…
By Leika Kihara TOKYO (Reuters) – Central banks risk being late in arresting inflation if they rely too much on forward guidance – a tool used to communicate the future path of monetary policy, a widely respected economist told policymakers at a Bank of Japan-hosted event on Wednesday. Forward guidance is an effective tool when…
By Hyonhee Shin SEOUL (Reuters) – South Korean nuclear safety experts who visited Japan’s wrecked Fukushima nuclear power plant said on Wednesday that detailed analysis was needed to verify Japan’s plan to release tonnes of contaminated water from it into the sea. The Fukushima Daiichi nuclear station, about 220 km (130 miles) northeast of Tokyo,…
By Engen Tham, Summer Zhen and Selena Li HONG KONG/SHANGHAI (Reuters) -Credit Suisse has scrapped plans to set up a locally incorporated bank in China to sidestep a potential regulatory conflict arising from its merger with UBS, said two sources with direct knowledge of the matter. Embattled Credit Suisse had been preparing for years to…
