Latest news with #US-CHINA
Barnama
3 days ago
- Politics
- Barnama
Top News Headlines In Cambodia, Indonesia, Myanmar, Thailand, Singapore & Vietnam: May 31, 2025
Cambodia and Thailand will adhere to the 2000 Memorandum of Understanding on the survey and demarcation of the land boundary. Both governments agreed to adopt all existing mechanisms, especially the Joint Boundary Commission, to resolve border issues. The Tourism Ministry launched the "Visit Cambodia " campaign during the green season to woo more tourists to the Kingdom. The aim is to boost tourism during the green season, usually the rainy season when tourist numbers drop. The Health Ministry has reported a decline in the national stunting rate among children, from 21.5 per cent in 2023 to 19.8 per cent last year, marking progress toward reaching President Prabowo Subianto's 14 per cent target although experts warn substantial efforts are still needed to maintain progress. 2. PALACE CLARIFIES: PRABOWO TOASTED MACRON WITH APPLE JUICE, NOT ALCOHOL -- JAKARTA GLOBE The Presidential Palace clarified on Friday that President Prabowo Subianto was drinking non-alcoholic apple juice -- not wine -- during a toast with French President Emmanuel Macron, following online speculation about the beverage's contents. The two leaders were photographed clinking glasses during a state dinner at the Merdeka Palace on Wednesday, with golden-coloured drinks in hand. MYANMAR 1. GOVT OUTLINES STRATEGY TO RESET ECONOMY -- THE GLOBAL NEW LIGHT OF MYANMAR The government will focus on three key pillars to reboot the economy following the March 28 earthquake. The first is humanitarian relief and social protection and the second and the third pillars relate to infrastructure reconstruction and economic revival and reform. 2. MINISTRY TO TIGHTEN E-CIGARETTES RULES -- THE GLOBAL NEW LIGHT OF MYANMAR The Health Ministry said a survey last year revealed tobacco users in Myanmar have declined. Still, there is a rise in the use of electronic nicotine delivery systems like e-cigarettes. The ministry called for stricter control measures to curb the vice. SINGAPORE 1. MACRON TOUTS 'POSITIVE NEW' ASIA-EUROPE ALLIANCE AMID US-CHINA RIVALRY -- THE STRAITS TIMES French President Emmanuel Macron urged Asia and Europe to work together in a new coalition based on common principles to push back against the inevitability of being caught between global superpowers. 2. FRANCE'S MACRON CALLS FOR ASIAN COALITIONS AS HE WARNS OF US-CHINA DIVISIONS -- CNA French President Emmanuel Macron said on Friday (May 30) that division between the two superpowers, the United States and China, is the main risk currently confronting the world as he emphasised the need for building new coalitions between Paris and partners in the Indo-Pacific. THAILAND 1. RTA ISSUE STATEMENT TO RESOLVE CLASH POINT IN CHONG BOK AREA -- THE NATION The Royal Thai Army (RTA) is preparing to issue a statement on Friday to resolve the recent clash point in the Chong Bok area, Ubon Ratchathani province. 2. PM VOWS B157BN FOR TOURISM POT -- BANGKOK POST Prime Minister Paetongtarn Shinawatra said she aims to inject 157 billion baht to stimulate the tourism sector, with a focus on improving safety and convenience for visitors, along with efforts to boost the sector in general. VIETNAM 1. QUANG NINH TO TAP MUSLIM-FRIENDLY TOURISM -- VIETNAMPLUS The northern province of Quang Ninh wants to transform into a Muslim-friendly tourist destination by building a halal tourism sector. The aim is not only to woo foreign visitors but also to showcase Vietnam's religious diversity. 2. LARGE-SCALE VIETNAMESE LYCHEE PROMOTION -- VIETNAMPLUS Hai Duong province launched the 2025 Thanh Ha lychee harvest season and trade conference yesterday to promote the fruit. Hai Duong has 8,800 hectares of lychee with an estimated production of 65,000 metric tonnes. -- BERNAMA BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies. Follow us on social media : Facebook : @bernamaofficial, @bernamatv, @bernamaradio Twitter : @ @BernamaTV, @bernamaradio Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial TikTok : @bernamaofficial
Business Recorder
13-05-2025
- Business
- Business Recorder
India-Pakistan truce, yuan boost to lift Indian rupee past 85/USD
MUMBAI: The Indian rupee is expected to appreciate past the 85 mark against the U.S. dollar at the open on Tuesday, supported by the India-Pakistan truce and a rally in the Chinese yuan on the back of the U.S.-China trade agreement. The 1-month non-deliverable forward indicated that the rupee will open at 84.70-84.75 to the U.S. dollar compared with 85.37 on Friday. India's forex and money markets were off on Monday. The rupee experienced significant volatility last week, with traders reacting to news surrounding the India-Pakistan conflict. The Indian currency fluctuated within the 84.12-85.84 range, with the Reserve Bank of India likely intervening on Friday to provide support. 'This week is expected to be less turbulent,' said a currency trader at a Mumbai-based bank. 'I expect the rupee to rally to at least the 84.30-84.40 region, especially with positive developments on the U.S.-China front complementing the good news (about) India and Pakistan.' India and Pakistan agreed to a ceasefire on Saturday following four days of cross-border strikes and retaliatory attacks. Although there were violations in the immediate aftermath, the truce has held since then. Indian rupee rally likely to extend on positive Asian cues, inflow hopes Indian equities soared on Monday, logging their best day in more than four years. US-CHINA Pact lifts Yuan The temporary pause in the U.S.-China trade war boosted Asian currencies and equities, alleviating worries of an economic slowdown. Following talks, both sides agreed that the U.S. would drop levies on Chinese imports from 145% to 30% during a 90-day negotiation period and that China would cut duties from 125% to 10%. The offshore Chinese yuan rose past 7.18 to the U.S. dollar, a six-month high. 'In the short term, this 90-day reprieve increases optimism that the worst-case outcome (U.S. stagflation) will be avoided,' ANZ Bank said in a note. U.S. equities rallied Monday, yields rose, and the dollar advanced against its major peers.
CNBC
12-05-2025
- Business
- CNBC
China's CATL to raise at least $4 billion in Hong Kong listing
Chinese battery manufacturer CATL aims to raise at least HK$31.01 billion ($3.99 billion) in its Hong Kong listing, according to its prospectus filed on Monday, the largest new share sale in the city this year. The maker of batteries for electric vehicles is selling 117.9 million shares at a maximum offer price of HK$263 per share, according to filings lodged with the Hong Kong Stock Exchange. The size of the deal could increase to about $5.3 billion if an offer size adjustment option and a so-called greenshoe option are exercised. More than 20 cornerstone investors, led by Sinopec and Kuwait Investment Authority, have subscribed to buy about $2.62 billion worth of CATL shares, the prospectus showed. The offer size adjustment option means the number of shares could be increased by up to 17.7 million shares to raise up to an additional HK$4.65 billion ($598.00 million). There is a greenshoe option to sell a further up to 17.7 million shares. The shares are due to price between Tuesday and Friday, with the final price to be announced on or before May 19, the filings showed. CATL's Hong Kong shares will be sold at a small discount to the Shenzhen stock's closing price on Friday if the share price is HK$263 each. The size of the discount will be larger if the Hong Kong share price is below that level. CATL said in its prospectus that it was granted a Hong Kong Stock Exchange waiver to not publish a minimum price at which its shares could be sold, as it could impact the trading of its Shenzhen-listed stock. There will be 109.1 million shares sold to institutional investors and 8.8 million shares available for Hong Kong's retail investors to bid for, the prospectus showed. The share sale will be the largest in Hong Kong since Midea Group raised $4.6 billion last year. CATL's shares will start trading on the Hong Kong Stock Exchange on May 20. CLOSE EYE ON US-CHINA TRADE WAR U.S. onshore investors will not be able to buy CATL shares in the Hong Kong deal, the filings showed, but many of those funds have offshore operations that would be able to participate. The company was placed on a U.S. Defense Department list in January of Chinese companies it says work with China's military. CATL said in its prospectus that it was working with the U.S. department to address the 'false designation'. "It does not restrict us from conducting business with entities other than a small number of U.S. governmental authorities, thus is expected to have no substantial adverse impact on our business," it said. CATL's book building comes as the U.S. and China hailed constructive talks in Geneva on the weekend towards de-escalating their trade war, but Washington's 145% tariff on Chinese goods and Beijing's 125% tariff on U.S. goods remain in place. "Tariff policies have been rapidly evolving. Currently, we cannot accurately assess the potential impact of such policies on our business, and we will closely monitor the relevant situation," CATL's prospectus said. CATL has previously said the impact from U.S. tariffs on the company would be minimal as that market accounts for only a small part of its business. Its North American business has been largely restricted due to policies set by the Biden administration, which excluded Chinese batteries from an EV subsidy scheme. CATL has been licensing its battery technology to help its U.S. clients, including Ford and Tesla, to build their battery plants instead of building its own while such partnerships are also often being criticized by U.S. politicians.
