TOKYO (Reuters) -Japan’s current account surplus more than doubled year-on-year in May, in a fourth straight month of gains, as the country’s trade deficit narrowed and income gains from its overseas investment expanded, Ministry of Finance data showed on Monday. The current account surplus reached 1.86 trillion yen ($13.08 billion) in May, compared with 773…
By Marc Jones LONDON (Reuters) – An increasing number of countries are repatriating gold reserves as protection against the sort of sanctions imposed by the West on Russia, according to an Invesco survey of central bank and sovereign wealth funds published on Monday. The financial market rout last year caused widespread losses for sovereign money…
(Reuters) – Chinese electric vehicle manufacturers are pouring into Thailand, having committed to invest $1.44 billion in production facilities in Southeast Asia’s biggest automaking hub that has long been dominated by Japanese companies. This new wave of investment has been backed by Thailand’s government, which has rolled out incentives and courted Chinese firms, with a…
By Devjyot Ghoshal and Pasit Kongkunakornkul BANGKOK (Reuters) – Thailand’s Siam Motors partnered with Nissan Motors in 1962 with a factory that rolled out four cars a day, leading to a profitable, decades-long relationship with Japanese companies that transformed it from a car dealer to an automotive pioneer. But the Thai family-owned group that has…
By Mai Nguyen HANOI (Reuters) -New electric vehicles from Tesla and rivals are being engineered for efficiency in a way that cuts copper content, changes that could limit demand growth for the metal as the next-generation of EVs hits the road, industry analysts say. The strong ramp-up in sales for EVs, led by growth in…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. A clutch of key economic data releases showing whether China is starting to emerge from its post-lockdown funk, and monetary policy decisions – and more importantly, guidance – from New Zealand and South Korea will…
By Kanishka Singh WASHINGTON (Reuters) – Republican U.S. presidential candidate and Florida Governor Ron DeSantis said on Sunday he would take steps to revoke China’s permanent normal trade relations status if he won the 2024 White House race. “I favor doing that. I think we probably need Congress but I would take executive action as…
By Mathieu Rosemain and Leigh Thomas AIX-EN-PROVENCE, France (Reuters) – European firms are concerned they could get caught in the cross-fire of rising economic rivalry between the United States and China, with some officials at a French business conference also frustrated at Europe’s slowness in crafting a response. Rising trade tensions between the two superpowers…
VATICAN CITY (Reuters) – Pope Francis announced on Sunday that he would induct 21 churchmen to the high rank of cardinal in September. The following are set to become cardinals: Cardinal Electors under 80 1 – Archbishop Robert Prevost, American, Vatican official, head of the Dicastery for Bishops 2 – Archbishop Claudio Gugerotti, Italian, Vatican…
By Rachel Nostrant (Reuters) – Hundreds of soccer players from around the world will step on to the pitch on Saturday to compete in the Homeless World Cup, an international competition held this year in California for people living without permanent shelter or in rehab centers. The 40-team tournament, which runs from July 8-15 at…
