Japan

QatarEnergy sharply cut the term cost for alShaheen petroleum loading in January, trade sources said on Friday, in line with a current fall in Middle East area premiums. The January term rate was up to 73 cents a barrel above Dubai quotes, the sources stated, down for a second straight month and at a multi-month low. The sources decreased to be named as they are not authorised to consult with the media. The term cost for December freights was at a premium of $ 1.93 a barrel. For its January tender, QatarEnergy offered 5 cargoes at premiums between 40 and...

Hurricane Usagi damaged sharply on Friday after bearing down on the Philippines' northern towns, blowing away homes in its course as authorities brace for another storm that might hit the capital Manila over the weekend. Usagi, known locally as Ofel, magnified into an extremely tropical cyclone as it made landfall in the town of Baggao in Cagayan province on Thursday afternoon. Philippine meteorological firm Pag-asa stated that Usagi has because weakened and is now headed towards Taiwan. Usagi is the 15th cyclone to hit the Philippines this year. Authorities are currently bracing for another typhoon, Man-yi, which might strike eastern...

Net income at Japanese oil refiners fell in the very first half of their financial year, but they kept profitability and outperformed their South Korean rivals as strong domestic margins shielded them from a weak abroad market. Japan's leading 3 refiners - Eneos Holdings, Idemitsu Kosan and Cosmo Energy Holdings - reported a 40% to 60% drop in net earnings for the six months ended Sept. 30, compared to the year ago duration, primarily affected by significant appraisal losses on oil stocks amid falling unrefined prices. However, earnings excluding inventory-related factors fell by only 22% to 35%, assisted by improved...

Artisan Partners, a U.S.based investor in Japanese retail giant Seven & & i Holdings, contacted the company's special committee to consider a bidding procedure of completing takeover propositions to secure the greatest offer. The 7-Eleven convenience store owner got a buyout proposition from a member of its starting Ito household, it said on Wednesday, a prospective $58 billion white-knight quote as it weighs a competing deal from Canada's Alimentation Couche-Tard. The offer from Ito-Kogyo, a company linked to Seven & & i Vice President Junro Ito, is non-binding and under review by the same special committee established to assess Couche-Tard's...

Japan's Seven & & i Holdings is thinking about introducing a management buyout that would see the seller go private, the Nikkei paper and Bloomberg News reported on Wednesday, a deal that might be worth up to 9 trillion yen ($ 58.2 billion). 7 & & i faces a takeover bid from Canada's Alimentation Couche-Tard and has been under pressure to increase business worth. Going private would therefore allow the company to continue under its existing management and get rid of the pressure from shareholders to sell more of its possessions - as well as eliminate the danger of a...

Saudi Arabia's crude oil supply to China is set to fall to about 36.5 million barrels in December, trade sources said on Monday, on weak need from the world's largest importer. This is a 2nd straight month of decline and the most affordable volume given that July, down from about 37.5 million barrels that Chinese refiners are expected to receive in November and about 46 million barrels in October, trade information collected showed. China's state majors Sinopec, PetroChina and Sinochem will be lifting less crude in December while Saudi supply to its joint venture Fujian refinery will rebound as the...

The privateequity owner of Refuel is checking out tactical choices consisting of a possible sale that might value the U.S. conveniencestore operator at more than $ 1.5 billion consisting of financial obligation, individuals familiar with the matter stated on Friday. The move comes as a wave of debt consolidation rolls through the convenience-store industry. Some store operators are looking to broaden geographically, even as the sector manages slowing development. Inflation has required shoppers to cut down investing in groceries and staples. Private-equity company First Reserve, which acquired Refuel in 2019, is in talks with investment lenders to introduce a sale...

Japanese trading house Itochu on Wednesday published 438.4 billion yen ($ 2.9 billion) in net profit for the six months to endSeptember, up 6% from a year previously, on nonresource products consisting of food and the FamilyMart convenience store chain. Itochu kept its net earnings forecast for the fiscal year the same at 880 billion yen, of which 24% or 213 billion yen is predicted from food, fabrics and the 8th department to where FamilyMart belongs, overtaking the profit's largest factor, the metals and minerals department with a 200 billion yen projection. Over the previous number of years, Japanese trading...

Japanese trading house Sumitomo Corp stated on Thursday it had actually resumed production at the Ambatovy nickel and cobalt task in Madagascar at endOctober after a pipeline issue a month before, but is evaluating future output volumes. Sumitomo has actually been having a hard time to stabilise production and improve success at the Ambatovy project, which released in 2005. The job produced about 10,000 metric tons of nickel in April-September, or a half of the volume in the exact same period a. year earlier, the company said on Thursday, without supplying a complete. year output forecast, which it stated is...

Japan's leading power generator, JERA, said on Tuesday its AprilSeptember internet earnings halved, hit by a steep drop in gains from lagged fuel price modifications and its U.S. power generation organization. The utility adhered to its annual earnings price quote of 200 billion yen ($ 1.3 billion), that included the impact of the shutdown of its Taketoyo coal-fired power plant following a fire on Jan. 31. No date has been set yet for rebooting the plant. JERA, an unlisted business jointly owned by Tokyo Electric Power and Chubu Electric Power, reported internet profit of 138.9 billion yen for the six...

7 & & i Holdings' strategy to hive off underperforming services will enable it to expand its core 7Eleven convenience stores, its chief executive said on Thursday, as the Japanese seller seeks to prevent a $47. billion Canadian takeover. Seven & & i, which is holding an investor day instruction with. experts and investors, is battling to remain independent after. Canada's Alimentation Couche-Tard used to buy it. It has said it is positive it can unlock investor. value itself. Under the restructuring announced this month, it. goals to split off the supermarket operation and some 30 other. non-core units into...

Japan's 7 & & i. will be wanting to persuade investors it can provide. longterm growth on its own when it talks to them on Thursday,. after announcing a sweeping breakup strategy designed to ward off a. $ 47 billion takeover deal. The 7-Eleven owner is due to hold an financier day instruction. with experts and financiers and will take concerns on its. international and domestic corner store businesses. 7 & & i is fighting to remain independent after Canada's. Alimentation Couche-Tard announced a preliminary quote in. August. The owner of Circle-K convenience stores has given that treked. its deal...

Chinese carmaker Chery will postpone the start of car production in Spain to the fourth quarter of 2025, an executive at its Spanish partner Ebro said on Thursday, about a year behind a previous schedule. In September, Ebro already said Chery would delay production at its Barcelona plant, its very first in Europe, till near year from late this year without giving a more exact time. The project has not been cancelled. There has actually simply been a. readjustment, Ebro's chief executive, Pedro Calef, said in an. interview at the plant. We have reasons to think we will have a...

The Japanese steel market is feeling a sense of crisis as the country's steel imports for the AprilSeptember duration reached a 10year high, with supply from China hitting a record high, an executive of Nippon Steel stated on Friday. We notified the government that we are carefully keeping an eye on general steel imports and have a sense of crisis concerning the present trend, Takashi Hirose, Nippon Steel's executive vice president, informed press reporters following the month-to-month meeting between the market ministry and steel market representatives. Japan, the world's third-largest steel producer, saw steel imports increase to 2.8 million metric...

Donald Trump has actually been chosen U.S. president, topping an amazing comeback 4 years after he was voted out of the White Home. Here is what business in Asia have bought the United States, what Trump has stated about them and what possible U.S. service policy changes would mean for Asian companies. SEMICONDUCTORS Asian chipmakers, led by Taiwan's TSMC and South Korea's Samsung Electronics, have jointly invested a minimum of $117 billion in the U.S., encouraged by the current U.S. administration's essential initiative aimed at lowering its dependence on Asia for high-end chips. In return, they have gotten or been...

Freshworks raised its annual profits and earnings forecasts on Wednesday after upbeat thirdquarter results, assisted by need for its AIdriven items, sending its shares up more than 15% in extended trading. The California-based company stated it will lay off 13% of its workforce, or 660 staff members, internationally in a quote to improve operations. It anticipates to book about $11 million to $13 million in restructuring charges in the fourth quarter. Freshworks expects the restructuring strategy will finish by completion of the fiscal year ending Dec. 31. Businesses are digitizing their operations with AI tools, which is increasing demand for...

Japan's secondbiggest steelmaker, JFE Holdings, lowered its forecast for yearly net revenue by 37%, struck by slow need for building materials at home and a slumping Asian market amid growing exports from China. The company now predicts net profit of 130 billion yen ($ 844 million) for the to March 31, down from its August quote of 205 billion yen. JFE likewise cut its yearly dividend projection to 100 yen a share from its August forecast of 110 yen, while lowering its crude steel output intend on parent-basis to 22.4 million metric loads, down 0.6 million heaps from its earlier...

The world's first wood satellite, built by Japanese researchers, was launched into area on Tuesday, in an early test of using timber in lunar and Mars exploration. LignoSat, developed by Kyoto University and homebuilder Sumitomo Forestry, will be flown to the International Spaceport station on a SpaceX objective, and later launched into orbit about 400 km (250 miles) above the Earth. Called after the Latin word for wood, the palm-sized LignoSat is charged to show the cosmic capacity of the sustainable product as humans check out living in area. With timber, a product we can produce by ourselves, we will...

UK-based Anglo American stated on Monday that it will sell its minority stake in a joint venture that owns a 70%. interest in the Jellinbah East and Lake Vermont steelmaking coal. mines in Australia, for A$ 1.6 billion (about $1.1 billion). The business, which owns 33.3% of Jellinbah Group - the. operator of the Queensland-based mines - will offer the stake to. Zashvin Pty Ltd, an Australian electric power generation. center operator that already owns a one-third interest in the. mines. Japanese conglomerate Marubeni owns the remaining. stake. Our process to offer the rest of our steelmaking coal. organization -...

In the race to protect copper for the clean energy transition and expert system applications, a range of business are shooting up deserted properties when seen as financial liabilities to fast-track considerable volumes of supply. The call for copper is poised to rise in coming years due to its function in electrical cars, renewable resource and information centers for artificial intelligence. Need is expected to outstrip supply by 1.7% in 2035, and copper rates have scaled record highs this year. So business are aiming to rejuvenate older mines. Normally, it takes a minimum of 10 years and as much as...

French automaker Renault is in talks with Nissan to help the Japanese company bring to market its own variation of Renault's electric Twingo, as the alliance partners seek to accelerate an inexpensive EV providing to ward off Chinese competition. An electric version of Renault's popular city automobile, due to reach the market in 2026, is set to be priced at under 20,000 euros ($ 21,700), making it a key slab in the firm's. defence versus low-priced Chinese brand names like BYD. Renault had actually been in talks with Germany's Volkswagen to. jointly develop the car, sharing costs that are a...

Toyota Motor stated on Wednesday its around the world production fell for a 8th straight month in September, as both sales and output decreased in its two biggest markets, the United States and China. The Japanese car manufacturer's international output for September fell 8%. compared to the very same month a year previously to 826,556 cars,. with U.S. production down 14% which in China dropping 19%. U.S. output suffered from a production and delivery. suspension of the Grand Highlander and Lexus TX sport energy. automobiles due to an air bag issue. Toyota resumed production of the suspended designs on Oct....

Japan's unrefined steel output fell 5.8 % in September from a year earlier, marking the seventh successive monthly decrease, as demand from building and producing industries stayed slow, the Japan Iron and Steel Federation stated on Tuesday. Crude steel output, which is not seasonally changed, dropped to 6.62 million metric loads in September, scheduling the most affordable regular monthly output this year. It decreased 3.6% from August. Production worldwide's third-biggest steelmaking nation has been on a downtrend as higher product costs, labour lacks in the building sector and slow recovery in vehicle production required steelmakers to trim output, an analyst...

India's steel ministry favours a temporary tax to curb rising steel imports, a senior official with direct understanding of the matter stated, as it seeks to safeguard steelmakers reeling from a rise in more affordable Chinese imports. A temporary protect task would assist suppress Chinese imports, and a procedure to enforce the responsibility would start quickly, stated the official, who asked for privacy as the considerations are not public. India, the world's second-biggest crude steel manufacturer, ended up being a net importer of the alloy in the fiscal year to March 31, 2024, and the pattern has actually continued since...