Author: admin

28 Mar Agricultural Bank of China, China Construction Bank, BOC and Postal Savings Bank of China post earnings growth amid ‘positive signs of recovery’ in economy

Posted at 14:39h in Asia

“In 2024, we will adhere to the general principle of pursuing progress while maintaining stability, and will act as a major bank serving the real economy and as a cornerstone of financial stability.”ABC’s non-performing loan (NPL) ratio, a metric of potential bank losses, improved to...

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28 Mar Opinion | Will the US really ban TikTok? Watch what Donald Trump is saying

Posted at 14:30h in Asia

It appeared as if the entire US ecosystem was threatened by and working together to reject a digital pathogen. That said, the TikTok ban never came to fruition. The social media platform has only grown since then, becoming an integral part of American popular culture...

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28 Mar Xiaomi surprises with lower-than-expected pricing on new EVs, in new challenge to Tesla

Posted at 14:25h in Asia

Chinese smartphone giant Xiaomi on Thursday launched its much-awaited first electric vehicle (EV) – the SU7, short for Speed Ultra – at a venue in Beijing close to its car manufacturing facility, pricing the standard model at 215,900 yuan (US$29,867) to take on Tesla’s Model...

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28 Mar Baltimore disaster may be largest ever marine insurance payout: Lloyd’s

Posted at 13:58h in Europe

Baltimore City Fire Boat 2 floats past the Dali container vessel after it struck the Francis Scott Key Bridge that collapsed into the Patapsco River in Baltimore, Maryland, U.S., on Tuesday, March 26, 2024.Bloomberg | Bloomberg | Getty ImagesThe collapse of a major Baltimore bridge...

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28 Mar China’s EV sector a live wire for US, with war of words over excess capacity casting shadow over Janet Yellen visit

Posted at 13:00h in Asia

United States Treasury Secretary Janet Yellen is expected to consult American companies on China’s industrial overcapacity, particularly in solar power and electric vehicles (EVs), at a planned meeting during her trip to China next week – a discussion that is likely to inform the tone...

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28 Mar Alibaba-controlled hypermarket operator Sun Art appoints new CEO amid restructuring and rising competition

Posted at 13:00h in Asia

Sun Art Retail Group, controlled by Alibaba Group Holding, has appointed a new chief executive as the e-commerce giant continues to consolidate its retail assets amid a restructuring and rising market competition.Hong Kong-listed Sun Art, an online hypermarket business, said in a stock exchange filing...

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28 Mar BYD chairman Wang Chuanfu expects sales growth to slow in 2024, banks on export surge to shore up profitability

Posted at 13:00h in Asia

BYD, the world’s largest electric-vehicle (EV) maker, is targeting a 20 per cent increase in sales this year, just a third of last year’s tally, as overcapacity concerns and a price war loom over the sector in mainland China.Wang Chuanfu, the Shenzhen-based carmaker’s chairman and...

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28 Mar Canadian economy starts the year on a rebound with 0.6 per cent growth in January

Posted at 12:45h in Canada

The Canadian economy grew 0.6 per cent in January, the fastest growth rate in a year, while the economy likely expanded 0.4 per cent in February, Statistics Canada said Thursday.The rate was higher than forecasted by economists, who were expecting GDP growth of 0.4 per cent in the...

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28 Mar Canadian economy grew 0.6% in January, says StatsCan

Posted at 12:45h in Canada

Business·NewThe Canadian economy grew 0.6 per cent in January, Statistics Canada says.Growth in December was flat following a weak 2023CBC News · Posted: Mar 28, 2024 8:45 AM EDT | Last Updated: 4 minutes agoA person carries shopping bags in the Glebe neighbourhood of...

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28 Mar Hong Kong Monetary Authority calls on lenders to provide ‘sympathetic’ credit relief to SMEs, never call loans early

Posted at 12:18h in Asia

The Hong Kong Monetary Authority (HKMA) on Thursday announced a set of measures designed to support small and medium-sized enterprises (SMEs), offering them reassurance about access to credit relief amid market rumours of loans being called early.The nine points issued by the city’s de facto...

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