SINGAPORE: Energy large Shell is in talks with Saudi Arabia’s state- owned Saudi Aramco to sell its gas station business in Malaysia, the next- largest for network in the country, four industry sources conscious of the discussions told Reuters, and a deal could be for up to US$ 1 billion.Continue Reading
BEIJING: Home guests spent 166.9 billion yuan ( US$ 23.13 billion ) during one of China’s longest falls, the May Day holiday, for a rise of 13.5 per cent from pre- epidemic levels, government data showed on Monday, but consumption per head lagged 2019 levels. In the face of deflationContinue Reading
A delegation from the International Monetary Fund is scheduled to visit Pakistan this month to discuss a new program, the merchant announced on May 5th, just before Islamabad’s yearly budget-making process kicks off. Pakistan completed a short-term US$ 3 billion program last month that helped stop republic definition, but ShehbazContinue Reading
SEOUL: South Korea’s antitrust regulator announced on Friday ( May 3 ) that food processors and suppliers will be required to notify customers if they reduce the size of their goods or face fines of up to 10 million won ( US$ 7,300 ). The Fair Trade Commission (FTC )Continue Reading
KUALA LUMPUR:  , Microsoft pledged a US$ 2.2 billion investment in artificial intelligence and cloud computing in Malaysia on Thursday ( May 2 ) to help build the country’s AI system. The software bear’s main professional Satya Nadella is on a three- state trip of Southeast Asia- Indonesia, Thailand andContinue Reading
ISLAMABAD: The disbursement of US$ 1.1 billion by the International Monetary Fund ( IMF) will help Pakistan achieve greater economic , stability, Prime Minister Shehbaz Sharif said on Tuesday ( Apr 30 ), amid discussions for a new loan programme. The money came as Pakistan’s third and final$ 3 billion backupContinue Reading
Official surveys showed on Tuesday ( Apr 30 ) that China’s manufacturing and service activity both increased at a slower rate in April, which suggests there may have been a loss of momentum for the world’s second-largest economy at the start of the second quarter. Despite the fact that aContinue Reading
On Monday ( Apr 29 ), a major Chinese electric carmaker, BYD reported lower-than-expected revenue for the first quarter of 2024 as a result of an aggressive domestic price war and Western regulatory pressures that affected the company’s growth. BYD posted an operating revenue of 124.94 billion yuan ( US$Continue Reading
On Monday ( Apr 29 ), the yen suddenly rose against the dollar, with traders citing yen-buying intervention by Japanese authorities in an effort to support a relentless decline in the currency to levels last seen more than three decades ago. The buck fell sharply to 155.01 japanese from asContinue Reading
According to statistics compiled by Bloomberg, there are a remarkable 129 EV models in China, but only 20 have been able to capture a regional business share of 1 % or more. BYD, a Shenzhen-based power and mechanical giant that defeated Tesla in next month’s fourth quarter to become theContinue Reading