Indonesia posted its first trade deficit since late 2015 in July, as imports surged more than exports did, the statistics bureau said on Tuesday. Southeast Asia’s largest economy had a trade deficit of $271.2 million in July. A Reuters poll had forecast a $1.1 billion surplus. June’s trade surplus was revised on Tuesday to $1.67 […]
Read moreThe Philippines’ peso has tumbled to a fresh 11-year low, but the country’s policymakers said that heralded good tidings. Nestor Espenilla, governor of the country’s central bank, Bangko Sentral ng Pilipinas, or BSP, said he wasn’t worried about either the deficit or the currency’s drop — or even his expectation that the peso may fall […]
Read moreThe global push among carmakers to make ever lighter vehicles is leading some auto suppliers in Japan to turn to what seems like an unlikely substitute for steel: wood. Japanese researchers and auto component makers say a material made from wood pulp weighs just one fifth of steel and can be five times stronger. The […]
Read moreThe CEO of one of the world’s largest computer chipmakers has become the third executive to leave President Donald Trump’s American Manufacturing Council in the span of a day. Brian Krzanich, who has held the reins at Intel since 2013, announced his resignation from the group of corporate leaders in an official blog post late […]
Read moreSouth Korea’s President Moon Jae-in said on Tuesday there will be no military action upon the Korean peninsula without Seoul’s consent and that the government would prevent war by all means. “Military action on the Korean peninsula can only be decided by South Korea and no one else can decide to take military action without […]
Read moreChina said on Tuesday that it would take actions to defend its interests if the United States damages trade ties after President Donald Trump authorized an inquiry into China’s alleged theft of intellectual property. The United States should respect objective facts, act prudently, and not destroy principles of multilateralism, China’s Ministry of Commerce said in […]
Read moreJD.com, China’s second-largest e-commerce firm, on Monday said its net loss widened in the second quarter, as marketing costs damped the impact of higher-than-forecast revenue growth. China’s main rival to Alibaba Group reported net loss attributable to shareholders of 496.4 million yuan ($74.43 million), from 252.3 million yuan in the same period a year earlier. […]
Read moreEquities closed higher on Wall Street and the dollar firmed as risk aversion took a backseat ahead of Tuesday’s Asia trading. Major indexes stateside closed the Monday session significantly higher as investors looked past geopolitical tensions that had clouded markets for most of last week. The Dow Jones industrial average gained 0.62 percent, or 135.39 […]
Read moreBitcoin hit another record Monday, but commodities whiz Dennis Gartman still isn’t buying. “It is a punter’s dream,” Gartman told CNBC’s “Fast Money.” “I give them credit for that, but it is something that I will absolutely stay away from, have stayed away from it, didn’t understand it to begin with, don’t understand it now.” […]
Read moreMost of the big hedge funds that bought Snap shares in the first quarter sold them just one quarter later, leaving billionaire George Soros as the only major investor still owning shares in the social media company. David Tepper’s Appaloosa Management dissolved its 100,000-share stake in Snap shares in the second quarter, according to a […]
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