TOKYO: Olympus Corp said on Monday (Aug 29) this had agreed to sell its microscope device to private equity company Bain Capital intended for 427. 6 billion yen (US$3. 1 billion), in what will be the Japanese company’s biggest divestment yet. The sale of the unit, which also makes industrialContinue Reading
SINGAPORE: Cina Petroleum and Chemical substance Corp said upon Monday (Aug 29) it expects second-half refinery throughput to become flat versus the initial half with yearly processing volume regarding 2022 down 6 per cent versus 2021, after the country’s COVID-19 measures hit gasoline demand at home. The company, better knownContinue Reading
BEIJING: Profit at China’s state-owned firms dropped 2 . 1 % to 2 . 68 trillion yuan (US$387. 54 billion) in the first seven a few months of the year compared to same period this past year, the Ministry of Finance said. That combined a 2 . 1 per centContinue Reading
BENGALURU: India likely recorded strong double-digit financial growth in the last one fourth but economists polled by Reuters anticipated the pace in order to more than halve this quarter and slow further toward the conclusion of the year because interest rates rise. Asia’s third-largest economy is grappling with persistently higherContinue Reading
BEIJING: China’s CanSino Biologics reported the 69. 5 % drop in income for the first six months versus a year ago, signing up for global and household COVID-19 vaccine manufacturers affected by waning demand for their shots. The decrease from 2 . 06 billion yuan (US$299. 8 million) to 629.Continue Reading
KUALA LUMPUR: Malaysia’s authorities will present its plan for 2023 to parliament on Oct seven, earlier than originally planned, news portal Malaysiakini reported on Friday (Aug 26), citing the country’s regulation minister Wan Junaidi Tuanku Jaafar. The budget was once scheduled to be tabled on Oct 28. A spokesperson pertainingContinue Reading
BEIJING: Chinese language food delivery company Meituan posted the better-than-expected 16. 4 per cent rise in quarterly revenue on Friday (Aug 26), as the business fared much better than expected in a period that saw a resurgence of COVID-19 cases in China and taiwan. Total revenue rose to 50. 94Continue Reading
MUMBAI: India’s stricter digital lending rules have got disrupted card services of foreign-backed fin-tech firms and jeopardised loan offerings of Amazon, prompting businesses to chart a lobbying pushback, according to industry sources plus a document seen simply by Reuters. Citing concerns more than high rates and unfair practices, the particularContinue Reading
BEIJING: China central bank said upon Friday (Aug 26) that it will allow a lot more foreign banks to get cheap funding via its carbon emission reduction supporting device. The particular People’s Bank of China (PBoC) stated in a statement that will Chinese units of Deutsche Bank and Societe GeneraleContinue Reading
Smart phone maker Xiaomi Corp is eyeing an electrical vehicle (EV) production tie-up with Beijing Automotive Group (BAIC), as it faces gaps in acquiring a licence to make cars on its own, Bloomberg News documented on Friday (Aug 26). Such partnership among EV startups and traditional carmakers has become increasinglyContinue Reading