By Aftab Ahmed and Shivangi Acharya GANDHINAGAR, India (Reuters) – Multilateral development banks must create a new funding mechanism and triple sustainable lending by 2030 to eliminate poverty and achieve climate goals, a G20 panel said in a report on Tuesday that called for big changes in the way MDBs operate. The independent panel, headed…
A look at the day ahead in U.S. and global markets from Mike Dolan The benign July investment environment gets tested on Tuesday by updates on U.S. retail sales and housing while the corporate earnings season kicks back into gear with another sweep of bank reports. Wall St ended in positive territory on Monday after…
SHANGHAI (Reuters) – Semiconductor Manufacturing International Corp (SMIC) said Chairman Gao Yonggang has resigned, marking the latest board level departure from China’s largest chipmaker in recent years as it battles U.S. pressure. Gao, who was appointed as chairman in March 2022 and previously served as the company’s chief financial officer, also resigned from his executive…
By Hyonhee Shin and Josh Smith SEOUL (Reuters) -For the first time since the 1980s a U.S. nuclear-armed ballistic missile submarine (SSBN) visited South Korea on Tuesday, as the allies launched talks to coordinate their responses in the event of a nuclear war with North Korea. White House Indo-Pacific coordinator Kurt Campbell confirmed the rare…
By Clare Jim HONG KONG (Reuters) – China Evergrande Group’s huge liabilities and diminishing cash disclosed in its long-overdue reports for the past two years raises questions about the viability of its restructuring plan and operations, creditors and analysts said. A comment from Evergrande’s auditor that it did not express an opinion on the reports…
BEIJING (Reuters) – China’s next-generation crewed spacecraft, which can transport up to seven astronauts, may fly for the first time between 2027 and 2028, a veteran Chinese astronaut said. China’s manned space flights began in 2003 when former fighter pilot, Yang Liwei, was sent into orbit in a small bronze-coloured capsule, the Shenzhou-5, becoming China’s…
SEOUL (Reuters) – For the first time since the 1980s a U.S. nuclear-armed ballistic missile submarine (SSBN) is in South Korea, a senior U.S. official said on Tuesday, as the allies launched talks to coordinate responses in the event of a nuclear war with North Korea. White House Indo-Pacific coordinator Kurt Campbell announced the long-expected…
TOKYO (Reuters) – Former Nissan Motor chairman Carlos Ghosn said on Tuesday the Japanese automaker and Renault are trying to go for “very small and reduced” cooperation between them with a deal to overhaul their long-standing alliance. “With the latest agreement, they’re trying to go for a mini alliance with a very reduced scope of…
TAIPEI (Reuters) – Taiwan is looking to buy National Advanced Surface-to-Air Missile Systems, or NASAMS, from the United States to upgrade its air defence capabilities having seen how well they work in Ukraine, the island’s defence minister said on Tuesday. China, which claims Taiwan as its own territory, has stepped up military and political pressure…
(Reuters) – Deutsche Bank lowered its forecast for China’s economic growth forecast this year to 5.3%, from 6% earlier, citing weakness in domestic consumption demand and a deterioration in the property sector. Data on Monday showed China’s economy grew 6.3% in the second quarter on a year-on-year basis, accelerating from 4.5% in the first three…
