HONG KONG (Reuters) - A Hong Kong court on Monday adjourned a hearing into a petition seeking the liquidation of Kaisa Group until June 24, giving a breather to the embattled Chinese developer amid Beijing's efforts to revive the crisis-hit property sector.
Shenzhen-based Kaisa has been working on an offshore debt restructuring for two years after defaulting on $12 billion in offshore debt in late 2021.
(Reporting by Xie... (continue reading...)
BEIJING (Reuters) - Profits at China's industrial firms rose 4.3% in the first four months from the same period last year, official data showed on Monday.
The jump followed a 4.3% increase in the first quarter and a slew of divergent activity data for April, according to National Bureau of Statistics (NBS) data.
Industrial profit numbers cover firms with annual revenue of at least 20 million yuan ($2.76 million) from their main... (continue reading...)
SINGAPORE (Reuters) - The dollar made a steady start to the week, as investors were focused on U.S., European and Japanese inflation data to guide the global interest rate outlook.
Foreign exchange trade has been dominated by the hunt for "carry" in recent months, punishing low-rate currencies and supporting the dollar while U.S. data has blown hot and cold and dented policymakers' confidence on the rates outlook.
Several major pairs have... (continue reading...)
By Ruma Paul and Subrata Nag Choudhury
DHAKA/KOLKATA (Reuters) - Strong winds and heavy rain pounded the coastal regions of Bangladesh and India as severe cyclone Remal made landfall late on Sunday, leaving millions without electricity after power poles fell and some trees were uprooted by gusty winds.
The storm crossed the coastal regions of Bangladesh's Mongla port and the adjoining Sagar Islands in India's West Bengal state with wind... (continue reading...)
By Colleen Howe
BEIJING (Reuters) - Oil prices were in a holding pattern in early Asian trading on Monday as markets awaited an OPEC+ meeting on June 2 where producers are expected to discuss maintaining voluntary output cuts for the rest of the year.
The Brent crude July contract inched up 11 cents to $82.23 a barrel by 0036 GMT. The more-active August contract LCOc2 rose 13 cents to $81.97.
U.S. West Texas Intermediate... (continue reading...)
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