By Uditha Jayasinghe COLOMBO (Reuters) – A year after angry Sri Lankans stormed the president’s residence and forced his ouster during a meltdown of the economy, the island’s streets are calm, there are no serpentine queues at fuel stations and hours-long power cuts have ended. The central bank expects the economy to resume growth this…
By Georgina Lee HONG KONG (Reuters) – The yuan has lost nearly 5% of its value against the dollar this year and in recent weeks China’s central bank has begun pushing back on the slide, fixing the currency’s daily trading band at stronger-than-expected levels. Some analysts suggest the stronger fixing is due to the “counter-cyclical…
By Tetsushi Kajimoto TOKYO (Reuters) -Japanese firms offered the biggest pay hikes in three decades at this year’s negotiations with workers, the country’s largest trade union group said on Wednesday, a development economists say will help revive anaemic consumer demand. A survey conducted by Rengo, Japan’s umbrella trade union group, showed pay hikes first reported…
(Reuters) – Australia’s AMP Ltd tanked on Wednesday after the country’s federal court ruled against the wealth manager in class action proceedings that challenged the validity of some of the changes to its ‘buyer of last resort’ policy. Shares of the company fell as much 7.5% to their lowest level in over a month. AMP…
By Qiaoyi Li and Brenda Goh BEIJING/SHANGHAI (Reuters) -U.S. automaker Tesla and its chief Chinese rival BYD achieved record deliveries of their China-made vehicles in the second-quarter, China Passenger Car Association (CPCA) data showed, as a fight for market share heats up. Tesla sold 93,680 China-made electric vehicles (EVs) in June, up 18.72% from a…
By Melanie Burton MELBOURNE (Reuters) – Wyloo Metals, the privately held battery resources unit of Australia iron ore baron Andrew Forrest, sees room to grow in nickel as it closes out its A$750.3 million ($501.4 million) buyout of miner Mincor Resources, its CEO said. Wyloo has breached the 90% holding in Mincor for compulsory acquisition,…
By Wayne Cole SYDNEY (Reuters) – The Australian government will announce this month whether it would reappoint Reserve Bank of Australia (RBA) Governor Philip Lowe or replace him. Here’s a list of people being touted as possible replacements. * Michele Bullock, 60, became the first female Deputy Governor of the RBA when she was appointed…
By Wayne Cole SYDNEY (Reuters) – With a July policy meeting done and dusted, the head of Australia’s central bank is waiting to hear if he will remain at the helm or take an early exit as past policy missteps come back to haunt him. Markets are still in the dark whether Treasurer Jim Chalmers…
BEIJING (Reuters) – China’s services activity expanded at the slowest pace in five months in June, a private-sector survey showed on Wednesday, as weakening demand weighed on post-pandemic recovery momentum. The Caixin/S&P Global services purchasing managers’ index (PMI) eased to 53.9 in June from 57.1 in May, the lowest reading since January when COVID-19 swept…
SEOUL (Reuters) – Shares in K-Pop management agencies fell on Wednesday, after South Korea’s antitrust watchdog began investigations into any potential infractions of subcontracting rules when outsourcing production of albums and merchandise, Yonhap reported. The Korea Fair Trade Commission (KFTC) sent investigators to the offices of HYBE, SM Entertainment and YG Entertainment on Tuesday, Yonhap…
