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Reuters reveals China’s ‘zero-COVID’ campaign under strain as Omicron surgeson January 17, 2022 at 8:21 am

Reuters provided insight into how China is doubling down on its “zero-COVID” strategy, saying the spread of the potentially milder Omicron variant is no reason to lower its guard amid warnings of economic disruptions and even public unrest as lockdowns drag into a third year. As other countries talk about a transition from “pandemic” to “endemic,” China has stepped up policies to stamp out any new outbreak as soon as it arises, sealing off cities, shutting transport links and launching mass testing programs.

The post Reuters reveals China’s ‘zero-COVID’ campaign under strain as Omicron surges appeared first on Reuters News Agency.

Reuters reveals Indian rice traders stop new export deals as freight train shortage blocks shipmentson January 17, 2022 at 4:58 am

Reuters broke the news that nearly a third of India’s rice exports for this month are stuck due to a shortage of freight trains, and most traders have stopped signing February export contracts to avoid demurrage charges. The slowdown in exports from India, the world’s biggest rice exporter, has allowed rival suppliers such as Thailand, Myanmar and Vietnam to increase overseas sales at higher prices. Shipments of more than 500,000 tonnes of non-basmati rice that need to be transported to ports on India’s east coast from the central state of Chhattisgarh have been stuck due to the shortage of freight trains.  

The post Reuters reveals Indian rice traders stop new export deals as freight train shortage blocks shipments appeared first on Reuters News Agency.

Reuters exclusively reveals BOJ debates messaging on eventual rate hike as inflation perks upon January 14, 2022 at 2:22 am

Reuters exclusively reported that Bank of Japan (BOJ) policymakers are debating how soon they can start telegraphing an eventual interest rate hike, which could come even before inflation hits the bank’s 2% target, emboldened by broadening price rises and a more hawkish Federal Reserve. While an actual rate hike is hardly imminent and the BOJ is on course to maintain ultra-loose policy at least for the rest of this year, financial markets may be underestimating its readiness to gradually phase out its once-radical stimulus program.

The post Reuters exclusively reveals BOJ debates messaging on eventual rate hike as inflation perks up appeared first on Reuters News Agency.

Reuters ahead with first out-of-cycle move by Singapore central bankon January 25, 2022 at 3:26 pm

Reuters was first to report on Tuesday that Singapore’s central bank would tighten its monetary policy in its first out-of-cycle move in seven years in response to inflation risks. The Monetary Authority of Singapore, which holds its scheduled policy reviews only twice a year, surprised markets with the move. The news strengthened the Singapore dollar, one of the world’s most-traded currencies, to its highest level in three months. The city-state’s trade-dependent economy is highly susceptible to swings in global inflation and the central bank’s sudden move comes as price pressures ring alarm bells for policymakers elsewhere in Asia. 

The post Reuters ahead with first out-of-cycle move by Singapore central bank appeared first on Reuters News Agency.

Reuters exclusively reports Renault, Nissan, Mitsubishi to unveil 2030 EV plan this week; market reactson January 24, 2022 at 2:06 pm

Reuters reported exclusively that Renault SA, Nissan Motor Co and Mitsubishi Motors Corp plan to triple their investment to jointly develop electric vehicles (EVs), a mark of deepened cooperation and potentially greater cost savings for the three companies. The three are expected to announce on Thursday a plan to invest more than 20 billion euros ($23 billion) over the next five years on EV development. By 2030, the alliance is expected to come up with more than 30 new battery EVs underpinned by five common platforms, including a new platform for compact EVs designed by Renault.

The post Reuters exclusively reports Renault, Nissan, Mitsubishi to unveil 2030 EV plan this week; market reacts appeared first on Reuters News Agency.

Reuters reveals Jumping on EV wagon represents risky ride for tech pioneer Sonyon January 6, 2022 at 10:00 am

Reuters detailed how, from personal music players to game consoles, Sony Group has often gambled in order to be a pioneer, but a leap into electric cars could take the risks to a new level for the Japanese consumer tech giant. While investors were wowed when Chief Executive Kenichiro Yoshida told a Las Vegas tech fair the company was setting up Sony Mobility, its stock fell 7% as they contemplated the challenge of delivering EVs packed with sensors, consumer electronics and entertainment offerings. The primary goal of Sony-branded cars, analysts say, is to create an autonomous connected vehicle for services such as car sharing and ride hailing, which could eventually outstrip automobile sales. 

The post Reuters reveals Jumping on EV wagon represents risky ride for tech pioneer Sony appeared first on Reuters News Agency.

Reuters reveals India likely to trim fiscal deficit target as Omicron cases riseon January 6, 2022 at 5:12 am

Reuters revealed that India is aiming for a fiscal deficit of 6.3% to 6.5% of gross domestic product for the next financial year, a less ambitious target than previously planned as COVID-19 infections threaten the economic recovery. Finance Minister Nirmala Sitharaman is due to unveil the 2022/2023 federal budget on Feb. 1. Officials said the thinking was that sharp cuts in government expenditure could hurt growth prospects. India’s case load of coronavirus infections is surging, fueled by the Omicron variant and the worry is that consumer and business spending will be hit, leaving the government with little choice but to step in. 

The post Reuters reveals India likely to trim fiscal deficit target as Omicron cases rise appeared first on Reuters News Agency.

Reuters exclusively reveals China’s Kaisa pressured by local government to repay wealth product investorson December 7, 2021 at 11:28 pm

Reuters exclusively reported that Chinese property firm Kaisa Group Holdings Ltd, under pressure from authorities, is working furiously to come up with a feasible plan to repay wealth product investors. Kwok Ying Shing, chairman of the cash-strapped developer, has agreed to a request from the government of Shenzhen, where the company is based, to provide a proposal to repay investors in its wealth management products by the end of January. If the company fails to do so, possible consequences could include the Shenzhen government seizing some of Kaisa’s assets and gradually taking over the company. 

The post Reuters exclusively reveals China’s Kaisa pressured by local government to repay wealth product investors appeared first on Reuters News Agency.

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