Business

Italy’s Eni eyes biorefinery in Malaysia with Petronas, Euglena

Italian energy group Eni (ENI.MI) is studying the possibility of developing and operating a biorefinery in Malaysia together with Japan’s Euglena (2931.T) and Malaysia’s Petroliam Nasional Berhad (Petronas), the three groups said on Wednesday. The plant would be based in the integrated refinery and petrochemical Pengerang Integrated Complex (PIC) in Southeast Asia, they said in […]

Business

Chinese dealers seek compensation over Stellantis Jeep failure

Chinese dealers that sell China-made Jeep cars are asking Stellantis (STLA.MI) for millions of dollars in compensation after the automaker stopped producing the brand in China, according to a letter signed by the dealers seen by Reuters. Stellantis is overhauling its strategy in China after agreeing to file for bankruptcy of its Jeep joint venture […]

Business

UK house prices rise 12.6% y/y in October

British house prices increased by 12.6% year-on-year in October, the Office for National Statistics (ONS) said on Wednesday, pushed up in part by a sharp fall in the same month last year after changes to the stamp duty property tax. The increase was higher than September’s 9.9% rise. More recent measures of Britain’s housing market […]

Business

OMV appoints MOL executive as new board member

OMV (OMVV.VI) is to expand its board with the appointment of Berislav Gaso as new executive board member responsible for energy starting March 1, 2023, the oil and gas firm said in a statement released on Wednesday. Finance chief Reinhard Florey will assume responsibility for the energy segment on an interim basis from Jan. 1 […]

Business

U.S. lawmakers introduce bill to restrict Huawei’s access to banks

U.S. lawmakers have introduced a bipartisan bill to sanction Chinese tech company Huawei Technologies Ltd and Chinese 5G companies, restricting them from accessing U.S. banks. The bill, introduced by Republican senator Tom Cotton and backed by lawmakers such as Senate Majority Leader Chuck Schumer, a Democrat, seeks to “severely sanction” Huawei, and other “untrustworthy” Chinese […]

Business

Bludgeoned bond markets hope peak inflation will bring revival in 2023

Many of the world’s big bond fund managers, from BlackRock to Vanguard, are optimistic that sovereign debt markets have turned a corner after a rout in 2022 with peak inflation and interest rates finally in sight. Prices of U.S. 30-year Treasuries have gained over 10% in the past month, while UK-based fixed income funds saw […]

Business

Investors see returns in depressed Asian dollar bonds, but risks too

Fund managers and investment advisers are returning to battered Asian bond markets, betting on a rebound in 2023, though with a wary eye on the risks of defaults and a global recession. Their optimism on markets that have been falling for nearly two years has been sparked by a host of measures China has announced […]