Business News

DUBAI (Reuters) – Saudi Arabia’s foreign direct investment inflows reached 8.1 billion Riyals ($2.16 billion) in the first quarter of 2023, up 10.2% from the same quarter a year prior, …

By Byron Kaye SYDNEY (Reuters) -An Australian court ordered Facebook owner Meta Platforms to pay fines totalling A$20 million ($14 million) for collecting user data through a smartphone application advertised …

By Linda Pasquini and Helen Reid (Reuters) -German sportswear brand Puma’s second-quarter sales grew by 11%, the company reported on Wednesday, slightly ahead of market expectations thanks to stronger revenues …

By Josh Ye (Reuters) -TikTok plans to launch a program in August to help Chinese merchants sell goods globally, and will officially roll it out first to consumers in the …

By Rishav Chatterjee (Reuters) – Commonwealth Bank of Australia, the country’s biggest lender, could cut up to 200 jobs, a source familiar with the matter told Reuters on Wednesday, but …

By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) – Thai exports shrank for a ninth consecutive month in June, albeit at a smaller rate than expected, as global demand remains …

By Melanie Burton and Rishav Chatterjee MELBOURNE (Reuters) -Rio Tinto’s first-half underlying earnings fell to their lowest in three years as easing iron ore prices offset an uptick in shipments …

By Sinead Cruise and Iain Withers LONDON (Reuters) – NatWest’s departing CEO Alison Rose until recently told colleagues she had weathered more than her fair share of crises, steering the …

PARIS (Reuters) -Shares in LVMH fell on Wednesday as an in-line increase in sales at the world’s top luxury indicated the overall sector was moving towards a less impressive path …

By Victoria Waldersee BERLIN (Reuters) -Porsche AG warned on Wednesday that supply chain problems were hampering battery-electric vehicle (BEV) production and pointed to slower growth in Europe and China, but …

By Daniel Leussink and Gilles Guillaume TOKYO/PARIS (Reuters) -Nissan will invest up to $663 million in Renault’s new electric vehicle unit, the automakers said on Wednesday, as they finalised terms …

FRANKFURT (Reuters) – Lending to euro zone companies slowed again last month, adding to already mounting evidence that sharply higher interest rates are putting a brake on credit creation and …

JAKARTA (Reuters) – Indonesia is developing a scheme for banks to provide a financing facility for exporters who keep their earnings onshore, after business groups complained that new rules made …

TOKYO (Reuters) – The Bank of Japan (BOJ) will maintain accommodative monetary conditions for companies, Governor Kazuo Ueda was quoted as saying at a key government meeting on Wednesday. While …

By Yadarisa Shabong (Reuters) -British luxury carmaker Aston Martin’s second-quarter results beat market expectations on Wednesday, powered by higher prices and demand for its DBX707 sports utility vehicle and limited …

By Nell Mackenzie and Carolina Mandl LONDON/NEW YORK (Reuters) – Property markets knocked by high interest rates and the end of cheap financing have caught the eye of hedge funds. …

By Tom Sims and Matthias Inverardi FRANKFURT (Reuters) -Deutsche Bank on Wednesday posted a 27% fall in second-quarter profit as investment banking revenue slumped and warned of the need for …

By Joyce Lee and Ju-min Park SEOUL (Reuters) -South Korea’s LG Display reported a fifth consecutive quarterly loss on Wednesday but forecast a return to profit in the last quarter …

BANGKOK (Reuters) -Thailand’s finance ministry has lowered the country’s 2023 economic growth outlook to 3.5% from 3.6% projected earlier, as tourism maintains strength but tepid global demand crimps exports, officials …

TAIPEI (Reuters) – Taiwan’s export-dependent economy likely returned to growth in the second quarter thanks to resilient domestic consumption although exports remained weak, a Reuters poll showed on Wednesday. Gross …

By Nick Carey LONDON (Reuters) – Porsche has a plan to gradually electrify its car lineup so that electric vehicles make up 80% of sales by 2030, and it aims …

By Stella Qiu SYDNEY (Reuters) -Australian inflation slowed more than expected in the second quarter thanks to falls in the cost of domestic holidays and petrol, suggesting less pressure for …

HONG KONG (Reuters) – China’s leadership pledged at a key Communist Party meeting this week to support the economy through a “tortuous” post-pandemic recovery, but offered very little detail on …

TOKYO (Reuters) – Business sentiment in Japan is picking up in July on easing supply constraints and the removal of COVID-19 curbs, the first such uptick this year, a report …