Chinese electric vehicle (EV) maker Zeekr Intelligent Technology will unveil a luxury model next month, targeted at luring wealthy consumers away from premium foreign brands such as Mercedes-Benz and BMW. The Hangzhou-based unit of Geely Auto, mainland China’s second-largest carmaker by sales, said on Monday that the Zeekr 9X Grand SUV would be priced at […]
China has warned the US it is ready to fight “any type” of war after hitting back against President Donald Trump’s mounting trade tariffs. The world’s top two economies have edged closer to a trade war after Trump slapped more tariffs on all Chinese goods. China quickly retaliated imposing 10-15% tariffs on US farm products. “If […]
Ares Management has partnered with Indonesia’s sovereign wealth fund to finance up to $500m (£387.6m) of investment opportunities annually that will benefit the country’s economy. The alternative asset manager said that the Ares Asia Credit funds will foster these investments through “innovative financing mechanisms” such as hybrid capital solutions and securitisation. The Indonesia Investment Authority […]
Nigeria’s sweeping economic reforms have reignited investor confidence and earned praise from global institutions, but the toll on the nation’s poorest citizens has cast a shadow over the gains. As Africa’s largest economy charts a new course towards fiscal stability, the International Monetary Fund (IMF) has sounded a cautionary note — urging the government to […]
CK Hutchison Holdings (CKH) is stepping back from the business of seafaring commerce, as rising US-China tension and an unfolding worldwide trade war signal choppy times ahead for the port operator. Billionaire Li Ka-shing’s company announced overnight that it would sell 80 per cent of Hutchison Port Group, which owns 43 container ports in 23 countries, for US$23 […]
Trade between Russia and the African continent increased to a record of US$24.5 billion, marking a new peak in economic relations between the two regions, as Russia has been making increasing inroads into Africa and European powers slowly withdraw. Despite economic obstacles and western sanctions, Russia and Africa are finding new ways to support their […]
The third Iran-Africa Economic Cooperation Summit is set to take place in May 2025, coinciding with the Iran Expo in Tehran and Isfahan, the head of the Trade Promotion Organization (TPO) announced. In an exclusive interview with IRIB, Alireza Dehghan Dehnavi said the summit will bring together officials from Iran and African nations to enhance […]
U.S. semiconductor stocks edged higher in premarket trading on Tuesday after the Biden administration launched a trade investigation into Chinese-made legacy semiconductors. The investigation, initiated under Section 301 of the Trade Act of 1974, could lead to new tariffs on older chips from China used in everyday products such as cars, washing machines, and telecom […]
Hong Kong’s job market is showing signs of a recovery, with the financial services and technology sectors taking the lead in increasing headcount and salaries. Recruitment consultancy Robert Walters said on Monday that it was cautiously optimistic about hiring prospects this year, with employers intending to increase their permanent and contract workforce. The financial sector […]
Chinese manufacturer Sany Heavy Industry is planning a listing in Hong Kong that could raise up to US$1.5 billion, two people familiar with the matter said on Tuesday. The people could not be named as they were discussing confidential information. Sany did not immediately respond to a request for comment. Sany Heavy Industry has tapped […]