By Eric Onstad, Siyi Liu and Mai Nguyen LONDON/BEIJING/HANOI (Reuters) -Lithium prices rebounded this week for the first time in five months after tumbling from record highs, but new supply of the key mineral for electric vehicle (EV) batteries coming on stream is likely to weigh on the market next year. A decision by world…
By Stefanno Sulaiman JAKARTA (Reuters) – Indonesia’s consumer price index rose 4.33% annually in April, government data showed on Tuesday, slowing from the previous month and reinforcing expectations for the central bank to leave interest rates unchanged in the coming months. Annual inflation was lower than the 4.97% pace recorded in March and slightly below…
By Leika Kihara (Reuters) -The International Monetary Fund (IMF) raised Asia’s economic forecast on Tuesday as China’s recovery underpinned growth, but warned of risks from persistent inflation and global market volatility driven by Western banking-sector woes. The reopening of China’s economy will be pivotal for the region with the spillover to Asia seen focused on…
By Jeff Mason, Trevor Hunnicutt and David Brunnstrom WASHINGTON (Reuters) -President Joe Biden told his counterpart Ferdinand Marcos Jr. on Monday that the U.S. commitment to the defense of its ally was “ironclad,” including in the South China Sea where Manila is under pressure from China. Marcos, on the first White House visit by a…
By Lewis Jackson and Muyu Xu SYDNEY (Reuters) – More than three years since China first blocked a range of Australian imports in a political dispute, restrictions are easing, but reviving trade is proving more challenging than stopping it in the first place. A leaders meeting late last year set off a thaw in relations…
By Praveen Menon SYDNEY (Reuters) – Australia’s flagship carrier, Qantas Airways Ltd, said on Tuesday that long-serving CEO Alan Joyce would step aside in November, and named Vanessa Hudson as its next chief executive officer. Below is a timeline of key events in Joyce’s 15-year career as one of the longest-serving CEOs of a major…
By Byron Kaye and Archishma Iyer (Reuters) – Top Australian grocer Woolworths Group Ltd posted a bigger than expected rise in third-quarter sales as shoppers bought more of its cheaper house-brand products to cut costs amid spiralling living expenses. The March quarter update illustrates the impact on non-discretionary consumption patterns in the country after a…
By Leika Kihara and Jihoon Lee INCHEON, South Korea (Reuters) -Asian finance leaders will on Tuesday look for ways to tighten safeguards to address emergency funding needs during pandemics and natural disasters, as global recession fears and volatile financial markets cloud the economic outlook. The impact of U.S. interest rate increases on the region’s capital…
SYDNEY (Reuters) – Australia’s flagship carrier, Qantas Airways Ltd, on Tuesday named its finance chief Vanessa Hudson to serve as its new chief executive starting in November, making her the first woman to lead the century-old airline. Here are key facts about the Australian businesswoman. *Hudson is a trained accountant who has worked at Qantas…
SEOUL (Reuters) – The central banks of South Korea and Indonesia signed a memorandum of understanding on Tuesday to cooperate on promoting the use of their currencies for bilateral transactions, such as current account transactions and direct investment. The cooperation will help businesses reduce their transaction costs and exposure to exchange rate risks by enabling…
