TOKYO (Reuters) – Mitsubishi Motors Corp will take a one-time hit of 10.5 billion yen ($78.31 million) related to slowing sales at its China unit, it said on Tuesday, as mounting competition in the world’s largest auto market hits foreign automakers. Mitsubishi made no changes to its full-year results forecast as the impact from the…
BEIJING (Reuters) – China has finished building a national and unified system for real estate registration, the official Xinhua news agency reported on Tuesday, in a landmark move that will boost transparency in ownership. In 2014, China issued rules requiring real estate owners to register their holdings with authorities but faced heavy resistance from local…
SEOUL (Reuters) – Samsung SDI Co Ltd said on Tuesday it will invest $3 billion or more to build a joint venture electric vehicle (EV) plant with General Motors Co in the United States. Targeted to start in 2026, the plan aims to have an annual production capacity of 30 gigawatt hours (GWh), Samsung SDI…
(Reuters) -Sentiment among German exporters has rebounded to the highest point seen since the outbreak of war in Ukraine last year, according to a survey by the Ifo economic institute released on Tuesday. The institute’s export expectations indicator rose to 6.9 points in April, its highest level since February 2022 and up from 4.1 in…
By Hyonhee Shin SEOUL (Reuters) – The United States should redeploy tactical nuclear weapons in South Korea to send a clear message to North Korea and alleviate growing calls in the South for developing its own bombs, former U.S. National Security Adviser John Bolton said on Tuesday. Bolton’s remarks came as South Korean President Yoon…
NEW DELHI (Reuters) – There are risks to India achieving its real growth forecast of 6.5% for the financial year that started April 1, partly due to a rise in oil prices and troubles in the global financial markets, the government said on Tuesday. Earlier this month, the International Monetary Fund (IMF) predicted the Indian…
By Poppy McPherson and Karen Lema (Reuters) – Philippine President Ferdinand Marcos Jr may discuss tensions over Taiwan with U.S counterpart Joe Biden at the White House next week but the focus of talks will be on trade and investment, a top diplomat said on Tuesday. Philippine ambassador to the United States Jose Manuel Romualdez…
By Nick Carey LONDON (Reuters) -Chile’s move to nationalise its lithium industry adds fresh supply chain uncertainty for global carmakers facing a shortage of electric vehicle (EV) battery materials and could provide fresh urgency to find new sources of the metal. Chilean President Gabriel Boric announced plans last Thursday to create a new state-owned company…
(Reuters) -Embattled property developer China Evergrande Group said its listed electric vehicle arm will book a $3.6 billion gain from the transfer of two debt-laden companies to another group unit as part of the auto firm’s restructuring. With more than $300 billion in total liabilities including offshore debt, Evergrande has been at the centre of…
BANGKOK (Reuters) – Car production in Thailand rose 4.16% in March from a year earlier to 179,848 units, as a shortage of microchips eased, the Federation of Thai Industries (FTI) said on Tuesday. Exports of cars increased 4.84% in March from a year earlier, after February’s 11.42% rise, Surapong Paisitpattanapong, a spokesperson for FTI’s automotive…
