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DUBAI (Reuters) -British maritime security firm Ambrey said on Monday that a Marshall Islands-flagged, Greece-owned bulk carrier was targeted by missiles in two incidents within two minutes while transiting through the Bab al-Mandab Strait. The bulker was reportedly hit and suffered damage to its the starboard side, Ambrey added. Ambrey had first reported that the carrier had sighted a projectile near the vessel 23 nautical miles (43km) northeast of Djibouti's Khor Angar and 40 nautical miles southwest of Yemen's Red Sea port city of Mokha. War in Israel and Gaza View All 206 ImagesAmbrey added that the bulker was reportedly headed to Bandar Imam Khomeini, a city in Iran. The crew were unharmed, UKMTO said, and the vessel is proceeding to its next port of call, UKMTO said.
Persons: Ambrey, Djibouti's Khor, Bandar Imam Khomeini, UKMTO, Nayera Abdallah, Tala, Christopher Cushing, Gerry Doyle Organizations: Reuters, NASDAQ, United Kingdom Maritime Trade Operations Locations: DUBAI, Marshall, Greece, Mandab, Djibouti's, Yemen's, Mokha, Israel, Gaza, Bandar, Iran, Yemen, Africa
BEIJING (Reuters) - China's new defence minister Dong Jun held a video call with his Russian counterpart Sergei Shoigu on Wednesday, according to a defence ministry statement, in his first public engagement since being appointed last month. Former Navy chief Dong's appointment came after his predecessor, Li Shangfu, disappeared from public view in August, throwing China's military diplomacy in doubt. The role of China's defence minister is to be the public face of the People's Liberation Army in its engagement with the media and with other armed forces. China and Russia's close military ties have been the target of Western scrutiny, especially after Russia's 2022 invasion of its neighbour Ukraine, which China has refused to condemn. Western countries, including the United States, have repeatedly warned China not to provide lethal aid to Russia's battlefield efforts.
Persons: Dong Jun, Sergei Shoigu, Li Shangfu, Dong, Shoigu, Laurie Chen, Christopher Cushing, Sharon Singleton Organizations: Former Navy, People's Liberation Army, United States, U.S Locations: BEIJING, Russian, China, Ukraine, United States, Japan, South Korea, Taiwan, South China, Beijing
MELBOURNE (Reuters) - Australia's resources minister has begun a week long trip to South Korea and Japan to discuss gas exports and critical minerals opportunities, as its government on Monday released a "prospectus" of 52 investment ready critical minerals projects. "Australia's critical minerals are key to the world's energy transformation," said Minister Madeleine King in a statement. King will be meeting Japan's trade minister Ken Saito, and South Korean trade and energy minister Duk-geun Ahn, she said in a statement. The minister is also expected to engage her counterparts on natural gas as Australia develops its future gas policy, given both nations are large customers of the major exporter. Already this year, a string of Australian nickel projects have been iced, including part of BHP's operations in the state of Western Australia.
Persons: Madeleine King, King, Ken Saito, geun Ahn, Melanie Burton, Christopher Cushing Organizations: MELBOURNE Locations: South Korea, Japan, Korean, Australia, Western Australia, Australian
By Asif ShahzadISLAMABAD (Reuters) - Pakistan's top civilian and military leaders will carry out a security review on Friday regarding the standoff with neighbouring Iran, the information minister said, following their strikes on each other with drones and missiles. Pakistan's Thursday strikes on separatist militants inside Iran were a retaliatory attack two days after Tehran said it struck the bases of another group within Pakistani territory. Caretaker Prime Minister Anwaar ul Haq Kakar will chair a meeting of the National Security Committee at which the review is to be done, with all the services chiefs in attendance. It aims at a "broad national security review in the aftermath of the Iran-Pakistan incidents," the minister, Murtaza Solangi, told Reuters by telephone. (Reporting by Asif Shahzad; Writing by Sudipto Ganguly; Editing by Christopher Cushing)
Persons: Asif Shahzad, Anwaar ul Haq, Murtaza Solangi, Sudipto Ganguly, Christopher Cushing Organizations: Caretaker, National Security, Reuters Locations: Asif Shahzad ISLAMABAD, Iran, Tehran, Pakistan, Israel
REUTERS/Hannah McKay/File photo Acquire Licensing RightsLONDON, Dec 5 (Reuters) - British Home Secretary James Cleverly will arrive in Rwanda on Tuesday to sign a new treaty to send asylum seekers to the African nation after the UK's top court declared the deportation scheme unlawful. But the United Kingdom's Supreme Court last month ruled the flights would violate international human rights laws enshrined in domestic legislation. Since that ruling, Britain has been seeking to renegotiate its agreement with Rwanda to include a binding treaty that it would not expel asylum seekers sent there by Britain - one of the court's major concerns. The court said the plan breached international undertakings - including the European Convention on Human Rights, the United Nations' Refugee Convention and Convention against Torture. The Rwanda policy was originally announced by former Prime Minister Boris Johnson last year, but no asylum seekers have been sent to the country yet.
Persons: James, Hannah McKay, Vincent Biruta, Rishi Sunak, Sunak, Boris Johnson, Andrew MacAskill, Michael Holden, Rishabh Jaiswal, Richard Chang, Christopher Cushing Organizations: REUTERS, European, Human, United Nations, Refugee Convention, Torture, Conservative Party, Human Rights, Thomson Locations: London, Britain, Rwanda, Rwanda's, Kigali, Europe
[1/2] Baidu's Apollo car with an autonomous driving system, which serves for self-driving taxi services, is seen at the Shougang Industry Park in Beijing, China July 30, 2021. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsBEIJING, Dec 5 (Reuters) - China on Tuesday issued safety guidelines for the use of autonomous vehicles in public transport, the latest in a series of measures preparing for the increased use of driverless cars. The guidelines apply to autonomous vehicles for passengers including taxis as well as for freight transportation, the Ministry of Transport said in a statement. They also require companies using autonomous vehicles for public transport to be qualified and licensed and state that companies can work together with automakers on such operations. In October, it issued guidelines for highway engineering facilities to support autonomous driving technology.
Persons: Tingshu Wang, Albee Zhang, Zoey Zhang, Brenda Goh, Christopher Cushing Organizations: REUTERS, Rights, Ministry of Transport, Thomson Locations: Beijing, China, Rights BEIJING
South Korea's Yoon set to announce cabinet reshuffle -media
  + stars: | 2023-12-04 | by ( ) www.reuters.com   time to read: +2 min
South Korean President Yoon Suk-yeol gives a speech on the government budget at the National Assembly in Seoul, South Korea, 31 October 2023. JEON HEON-KYUN/Pool via REUTERS/File photo Acquire Licensing RightsSEOUL, Dec 4 (Reuters) - South Korean President Yoon Suk Yeol is likely to announce a major cabinet reshuffle as early as Monday, with as many as 10 ministers including the finance minister set to be replaced, Yonhap news agency reported. The financial regulator head could also be replaced, the Korea Economic Daily reported on Monday, also citing unidentified sources. Some cabinet members are widely expected to stand down to capitalise on their increased profile to run as political candidates. Yoon does not require parliamentary approval to appoint a finance minister, who also serves as deputy prime minister.
Persons: Yoon Suk, JEON HEON, Yonhap, Park, Choo Kyung, Choi Sang, Yoon, Hyunsu Yim, Cynthia Kim, Ed Davies, Christopher Cushing Organizations: South, National Assembly, Rights, Korea Economic, Foreign, Finance, Democratic Party of Korea, Thomson Locations: Seoul, South Korea, Rights SEOUL, Korea, Busan
[1/4] The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly Song/File Photo Acquire Licensing RightsHONG KONG, Dec 4 (Reuters) - A court hearing into a liquidation petition filed against China Evergrande Group (3333.HK) was adjourned in a Hong Kong court to next month, allowing more time to finalise a debt restructuring proposal in a major relief for the embattled developer. On Oct. 29, when adjourning the hearing to Monday, Hong Kong High Court Justice Linda Chan had said the next hearing would be the last before a decision was made on liquidating Evergrande. Evergrande last week scrambled to put together a revised restructuring plan to avoid a possible liquidation order. The creditors were opposed to the latest restructuring plan and will seek liquidation if the terms do not change, said the advisor.
Persons: Aly, Jan, Linda Chan, Evergrande, Hui Ka Yan, Clare Jim, Sumeet Chatterjee, Kim Coghill, Christopher Cushing Organizations: China Evergrande Group, REUTERS, China Evergrande, HK, Hong, Hong Kong High, Moelis, Authorities, Thomson Locations: China, Shenzhen, Guangdong province, HONG KONG, Hong Kong, Evergrande, destabilised
By Steve GormanLOS ANGELES (Reuters) - A suspected serial killer was charged on Monday with murder in the fatal shootings of three homeless men in Los Angeles and a county employee who was robbed and slain after being followed to his residence, all of them over a four-day span, officials said. Powell was charged with four counts of murder, one count of residential robbery and one count of being a felon in possession of a firearm. Los Angeles County Sheriff Robert Luna said there was no known connection among the four men who were slain and suggested that additional victims might end up linked to the case. At that point, Powell was under arrest but had yet to be charged with shooting homeless people. (Reporting by Steve Gorman in Los Angeles; Editing by Christopher Cushing)
Persons: Steve Gorman, Jerrid Joseph Powell, Powell, Robert Luna, didn't, Luna, Karen Bass, George Gascon, Christopher Cushing Organizations: ANGELES, Reuters, Attorney's, Los Angeles City News Service Locations: Los Angeles, . County, San Dimas, Beverly Hills, Los Angeles County
Lanao Del Sur Provincial Government/Handout via REUTERS/File Photo Acquire Licensing RightsMANILA, Dec 4 (Reuters) - The United States condemned the "horrific terrorist attack" during a Catholic Mass at a university in southern Philippines that killed at least four people and injured dozens, the State Department said on Sunday. The United States is in close contact with its Philippine partners and stands with Filipinos in rejecting the act of violence, it said in a statement. "We continue patrols and security in schools is tighter," Major Alinaid Moner, spokesperson of the Lanao del Sur police office, told News5 radio station on Monday. Mindanao State University (MSU) is continuing operations as it is the period for final exams, Moner said. Philippines President Ferdinand Marcos Jr and security officials said on Sunday the crime was perpetrated by "foreign terrorists".
Persons: Mamintal Adiong, Alinaid Moner, Moner, Ferdinand Marcos Jr, Neil Jerome Morales, Karen Lema, Kim Coghill, Christopher Cushing Organizations: Mindanao State University, REUTERS, Rights, State Department, MSU, Islamic State, Thomson Locations: Lanao Del Sur, Marawi, Philippines, Lanao Del Sur Provincial Government, Rights MANILA, United States, Lanao del Sur
South Korea to consult China over urea export delays
  + stars: | 2023-12-04 | by ( Hyonhee Shin | ) www.reuters.com   time to read: +2 min
SEOUL, Dec 4 (Reuters) - South Korea on Monday said it will consult China to prevent disruption to urea supplies after Korean companies reported the fertiliser and emissions reducing chemical was taking longer to pass through Chinese customs on its way to the peninsula. South Korea imports over 90% of its urea supply from China. In late 2021, a new Chinese export requirement aimed at increasing domestic supplies triggered panic buying among South Korean drivers of diesel cars and trucks who are required to use urea solutions to cut emissions. South Korea resorted to government rations while trying to secure alternative suppliers. Diesel cars account for about 40% of registered vehicles in South Korea.
Persons: Choi Nam, Ahn Duk, geun, Hyonhee Shin, Joyce Lee, Ed Davies, Christopher Cushing, Miral Organizations: Ministry of Trade, Industry, Energy, South, Diesel, Thomson Locations: SEOUL, South Korea, China, Korea, Vietnam, Japan, Beijing, Australia
Tesla's China-made EV sales skid 17.8% on year in November
  + stars: | 2023-12-04 | by ( ) www.reuters.com   time to read: 1 min
BEIJING, Dec 4 (Reuters) - Sales of U.S. automaker Tesla (TSLA.O)'s China-made electric vehicles skidded 17.8% in November from the same month a year earlier, to 82,432 cars, China Passenger Car Association (CPCA) data showed on Monday. Deliveries of China-made Model 3 and Model Y cars rose 14.3% from October. Chinese rival BYD (002594.SZ), with its Dynasty and Ocean series of EVs and petrol-electric hybrid models, saw passenger vehicle deliveries set another record at 301,378 vehicles, up 0.09% from October and up 31% from a year earlier. Reporting by Qiaoyi Li, Zhang Yan and Brenda Goh; Editing by Christopher Cushing and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.
Persons: Tesla, BYD, Qiaoyi Li, Zhang Yan, Brenda Goh, Christopher Cushing, Bernadette Baum Organizations: U.S, China Passenger Car Association, Thomson Locations: BEIJING, China
Li Yunze, director of China's National Financial Regulatory Administration (NFRA), speaks at the Lujiazui Forum in Shanghai, China June 8, 2023. REUTERS/Jason Xue/File Photo Acquire Licensing RightsBEIJING, Dec 3 (Reuters) - A key Chinese financial regulator said on Sunday it would accelerate reform of small and midsize financial institutions as it steps up its oversight of the sector. The National Financial Regulatory Administration (NFRA) will collaborate with the General Administration of Financial Supervision to tighten supervision of the financial industry other than the securities market, director Li Yunze said in an interview with state media Xinhua. It will promote small and midsize banking institutions to optimise their structure, improve quality and increase efficiency, Li said. “At present, the operation of China's financial sector is generally stable and the overall risk resistance is strong,” he said.
Persons: Li Yunze, Jason Xue, Li, , Mei Mei Chu, Christopher Cushing, William Mallard Organizations: China's, Financial Regulatory Administration, REUTERS, Rights, Administration, Financial, Xinhua, NFRA, Thomson Locations: Shanghai, China, Rights BEIJING
Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. With interest rates and loan prime rates at low levels, there is more space to cut banks' reserve requirement ratio (RRR) than to cut interest rates, Sheng said. The central bank lowered the RRR in September for the second time this year to boost liquidity and support economic recovery. The weighted average RRR for financial institutions was around 7.4% after the cut. China is prudent in cutting interest rates as its monetary policy needs to consider internal and external balance, Sheng said.
Persons: Tingshu Wang, Sheng Songcheng, Sheng, Mei Mei Chu, Christopher Cushing Organizations: People's Bank of China, REUTERS, Rights, People's Bank of, Shanghai Securities, Thomson Locations: Beijing, China, Rights BEIJING, People's Bank of China, U.S
[1/2] A Philippine Coast Guard personnel looks through a binocular while conducting a resupply mission for Filipino troops stationed at a grounded warship in the South China Sea, October 4, 2023. The West Philippine Sea is Manila's term for waters in the South China Sea that fall within its 200-nautical mile EEZ. An international tribunal invalidated China's claim to 90% of the South China Sea in 2016, but Beijing does not recognise the ruling. The Philippines is ramping up efforts to counter what it describes as China's "aggressive activities" in the South China Sea, which has also become a naval flashpoint for Chinese and U.S. tension. China has accused the Philippines of enlisting "foreign forces" to patrol the South China Sea and stirring up trouble.
Persons: Adrian Portugal, Julian Felipe Reef, Karen Lema, Christopher Cushing Organizations: Philippine Coast Guard, REUTERS, Rights, South China, Embassy, Thomson Locations: South China, Rights MANILA, South, Manila, Philippines, West Philippine, Philippine, Beijing, China, Taiwan, Malaysia, Vietnam, Brunei, United States, Australia, The Philippines
The deal, announced during the COP28 climate talks in Dubai on Sunday, is the first under the ADB's Energy Transition Mechanism (ETM) programme, which aims to help countries cut their climate-damaging carbon emissions. "If we don't address these coal plants, we're not going to meet our climate goals," David Elzinga said on the sidelines of the conference. "By doing this pilot transaction, we are learning what it takes to make this happen," David Elzinga said. ADB also has active ETM programmes in Kazakhstan, Pakistan, the Philippines, and Vietnam, and is considering transactions in two other countries, it said. Reporting by Simon Jessop and David Lawder; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.
Persons: we're, David Elzinga, Simon Jessop, David Lawder, Christopher Cushing Organizations: Asian Development Bank, Reuters, Transition, ADB, PT PLN, PT, Indonesia Investment Authority, INA, Thomson Locations: DUBAI, Indonesia, Dubai, Kazakhstan, Pakistan, Philippines, Vietnam, Indonesian, Jakarta
South Korea's Yoon Set to Announce Cabinet Reshuffle -Media
  + stars: | 2023-12-03 | by ( Dec. | At P.M. | ) www.usnews.com   time to read: +1 min
SEOUL (Reuters) - South Korean President Yoon Suk Yeol is likely to announce a major cabinet reshuffle as early as Monday, with as many as 10 ministers including the finance minister set to be replaced, Yonhap news agency reported. The transport and labour ministers may also be changed, Yonhap said, citing unidentified sources. The financial regulator head could also be replaced, the Korea Economic Daily reported on Monday, also citing unidentified sources. Some cabinet members are widely expected to stand down to capitalise on their increased profile to run as political candidates. Yoon does not require parliamentary approval to appoint a finance minister, who also serves as deputy prime minister.
Persons: Yoon Suk, Yonhap, Park, Choo Kyung, Choi Sang, Yoon, Hyunsu Yim, Cynthia Kim, Ed Davies, Christopher Cushing Organizations: Korea Economic, Foreign, Finance, Democratic Party of Korea Locations: SEOUL, Korea, Busan
"We always said we will win the heartland states," BJP President Jagat Prakash Nadda told Reuters. However, a 28-party opposition alliance led by the Congress party has come together to jointly fight BJP, posing a new challenge. But the alliance did not feature in the state polls due to internal rivalries and it was a direct contest between BJP and Congress. Politicians and analysts say state elections do not always influence the outcome of the general elections or accurately indicate national voter mood. Results of the last round of state elections before national elections have been misleading in the past.
Persons: Stringer, Narendra Modi, Modi, Rahul Gandhi, Jagat Prakash Nadda, Jyotiraditya Scindia, Gandhi, Supriya Shrinate, Gurmeet Chadha, Ira Dugal, Lincoln, Christopher Cushing Organizations: REUTERS, DELHI, Bharatiya Janata Party, BJP, Telangana, Reuters, Developmental, Congress, Thomson Locations: Madhya Pradesh, Indore, India, Rajasthan, Chhattisgarh, Telangana, Karnataka, Mizoram, Mumbai
Singapore, Zurich world's most expensive cities - EIU
  + stars: | 2023-11-30 | by ( ) www.reuters.com   time to read: +1 min
HONG KONG, Nov 30 (Reuters) - Singapore and Zurich tied for the world's most expensive city this year, followed by Geneva, New York and Hong Kong, the Economist Intelligence Unit (EIU) said on Thursday as it cautioned that the global cost-of-living crisis was not yet over. Singapore regained the top of the rankings for the ninth time in the past eleven years due to high price levels across several categories. The city state has the world's highest transport prices, owing to strict government controls on car numbers. Zurich's rise reflected the strength of the Swiss franc and high prices for groceries, household goods and recreation, it said. Geneva and New York tied for third place, while Hong Kong was fifth and Los Angeles in sixth.
Persons: Hong Kong, Farah Master, Christopher Cushing Organizations: Economist Intelligence Unit, Singapore, Swiss, New York, Los Angeles, Thomson Locations: HONG KONG, Singapore, Zurich, Geneva , New York, Hong Kong, Geneva, New, Hong, Asia, Nanjing, Wuxi, Dalian, Beijing, Osaka, Tokyo, Japan
China EV brand Zeekr puts US IPO on hold - sources
  + stars: | 2023-11-30 | by ( ) www.reuters.com   time to read: +1 min
People walk past a booth of Zeekr, Chinese automaker Geely's premium electric vehicle (EV) brand, at a shopping mall in Beijing, China November 3, 2023. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsHONG KONG/SYDNEY Nov 30 (Reuters) - Zeekr, Chinese automaker Geely's premium electric vehicle (EV) brand, has put its U.S. initial public offering (IPO) on hold due to a mismatch in valuation expectations, according to two sources with direct knowledge of the matter. The sources could not be named because they were discussing confidential information. "The company has made a public filing to the SEC and is proceeding with the preparatory work," a Zeekr statement said. It declined to answer Reuters questions about the deal being put on hold due to the company's valuation target not being met and uncertain market conditions.
Persons: Tingshu Wang, Julie Zhu, Scott Murdoch, Jamie Freed, Christopher Cushing Organizations: REUTERS, SEC, Thomson Locations: Beijing, China, HONG KONG, SYDNEY, Hong Kong, Sydney
Two killed, 8 wounded in Jerusalem shooting attack -police
  + stars: | 2023-11-30 | by ( ) www.reuters.com   time to read: +1 min
"Two terrorists arrived at the scene in a vehicle armed with firearms, these terrorists opened fire towards civilians at the bus station and were subsequently neutralized by security forces and a nearby civilian," Israeli police said. The attackers came from East Jerusalem, Jerusalem Police District Commander Doron Turgeman told reporters at the scene. The U.S. ambassador to Israel condemned the shooting. "Abhorrent terrorist attack in Jerusalem this morning. Reporting by Ari Rabinovitch; Editing by Kim Coghill, Christopher Cushing and Lincoln Feast.
Persons: Ronen, Doron Turgeman, Jack Lew, Ari Rabinovitch, Kim Coghill, Christopher Cushing, Lincoln Organizations: REUTERS, Rights, Palestinian, Jerusalem Police, Hamas, Thomson Locations: Jerusalem, East Jerusalem, U.S, Israel, Gaza
LITTLETON, Colorado, Nov 30 (Reuters) - Over 60% of global electricity generated so far in 2023 was produced by fossil fuels, despite the ongoing aggressive roll-out of renewable energy sources in every major economy. Fossil fuels remain the primary source of global electricity despite steep gains in clean power outputBut with the energy systems of so many influential countries still so dependent on fossil fuels, there is little chance that COP28 meetings will yield the kind of bold power sector overhauls that ardent climate activists may hope for. Global electricity generation by sourceCoal's staying power as the main pillar of the global electricity generation system is at odds with widely held assumptions that coal is being phased out of power systems due to plant closures seen in Western economies in recent years. GAS ON THE UPNatural gas has the second largest share of electricity generation globally, accounting for around 22.6% of total generation so far this year. RENEWABLE REPLACEMENTSWorldwide, electricity generation from renewable sources has grown at nearly triple the pace of fossil fuels since 2019, providing a boost to supporters of the energy transition away from fossil fuels.
Persons: Gavin Maguire, Christopher Cushing Organizations: United Nations, Global, Reuters, Thomson Locations: LITTLETON , Colorado, United States, China, India, Japan, Poland, Turkey, Dubai, Europe, North America, Asia, Indonesia, Philippines, Germany, South Korea
Main auto partner Chongqing Changan Automobile (000625.SZ) and relevant parties will own up to 40% of the new firm, a Changan Auto statement showed on Sunday. Neither Changan Auto nor Huawei disclosed financial details. Changan Auto referred Reuters to its Sunday statement and declined to comment further. Huawei has partnerships with other auto companies, including Seres Group (601127.SS) and Jianghuai Automobile (600418.SS), as well as with Changan Auto involving EV brands Avatr and Deepal. The proposed deal will also smooth the way for the business' listing, as Huawei had planned, said two of the people.
Persons: Ren Zhengfei, Ren, Richard Yu, Julie Zhu, Zhuzhu Cui, David Kirton, Brenda Goh, Christopher Cushing Organizations: Huawei Technologies, Changan Auto, Bosch, Chongqing Changan Automobile, Huawei, Auto, China Ordnance Equipment Group, China South Industries, FAW Group, Dongfeng Motor, HK, Reuters, Seres, Jianghuai, Changan, EV, Thomson Locations: HONG KONG, SHANGHAI, Chongqing, China, Changan, Shanghai
Asia's first ETF tracking Saudi equities debuts in Hong Kong
  + stars: | 2023-11-29 | by ( Xie Yu | ) www.reuters.com   time to read: +3 min
Bull statues in front of screens showing Hong Kong stock prices outside Exchange Square, in Hong Kong, China, August 18, 2023. REUTERS/Tyrone Siu/File Photo Acquire Licensing RightsHONG KONG, Nov 29 (Reuters) - A new exchange-traded fund (ETF) tracking Saudi equities made its trading debut in Hong Kong on Wednesday, becoming the first product of its kind in Asia amid warming bilateral relations between China and Saudi Arabia. The ETF, called CSOP Saudi Arabia ETF (2830.HK), is managed by Hong Kong-based CSOP Asset Management. "Today is a milestone in our financial cooperation with Saudi Arabia," said Hong Kong Financial Secretary Paul Chan at a launch event. Through the ETF, investors in Hong Kong will be able to trade Saudi stocks including the oil giant Saudi Aramco (2222.SE) and the Saudi National Bank (1180.SE) in Hong Kong dollars or Chinese yuan.
Persons: Tyrone Siu, CSOP, Paul Chan, Yazeed, Humied, PIF, Xie Yu, Sumeet Chatterjee, Christopher Cushing Organizations: REUTERS, Saudi, Saudi Arabia ETF, HK, Management, Public Investment Fund, Hong, Hong Kong Financial, FTSE, Saudi Aramco, Saudi National Bank, Reuters, Hong Kong Stock Exchange, bourse, ETF, People's Bank of China, Saudi Central Bank, Thomson Locations: Hong Kong, Exchange, China, HONG KONG, Asia, Saudi Arabia, Saudi, FTSE Saudi Arabia, Europe, East, Africa, Beijing, Riyadh
The platform, whose app provides services such as bike-sharing, ticket-booking and maps, reported June-September revenue of 76.47 billion yuan ($10.69 billion), versus 62.62 billion yuan in the same period a year earlier. Meituan posted a profit of 3.59 billion yuan versus profit of 1.22 billion yuan a year earlier. Meituan CEO Wang Xing previously flagged a tougher third quarter for the food delivery business due to macroeconomic headwinds. A Meituan delivery worker rides a scooter carrying vegetables on a snowy day in Beijing, China January 19, 2021. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsQuarterly revenue from core local commerce, which includes food delivery as well as non-food delivery service Meituan Instashopping, rose 24.5% to 57.69 billion yuan.
Persons: Meituan, LSEG, Wang Xing, Tingshu Wang, Ele.me, ChinaIRN, John Choi, Wang Huiwen, ChatGPT, Casey Hall, Christopher Cushing, Edmund Klamann Organizations: HK, REUTERS, Alibaba Group, Meituan, Microsoft, Thomson Locations: SHANGHAI, Beijing, China, Hong Kong, Southeast Asia
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