ASIA

China’s Luckin plans store expansion, remains committed to the US market

Women leave a store of the Chinese coffee house chain Luckin Coffee in Beijing, China, July 8, 2020. Picture taken July 8, 2020. REUTERS/Thomas Peter Register now for FREE unlimited access to Reuters.com Register HONG KONG/BEIJING, Aug 9 (Reuters) – Two years after it was forced to withdraw from the Nasdaq for an accounting fraud, …

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Tesla’s July sales of Chinese-made vehicles slide due to factory line upgrades

Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020. REUTERS/Aly Song/File Photo Register now for FREE unlimited access to Reuters.com Register SHANGHAI, Aug 9 (Reuters) – Tesla (TSLA.O) sold 28,217 Chinese-made vehicles in July, nearly two-thirds less than a month earlier as a scheduled …

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Singapore-based crypto lender Hodlnaut suspends withdrawals

Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 14, 2018. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Reuters.com Register HONG KONG, Aug 8 (Reuters) – Hodlnaut, a Singapore-based crypto currency lender and borrower, has suspended withdrawals, swaps and deposits, …

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Indonesia says Tesla strikes $5 billion deal to buy nickel products – media

JAKARTA, Aug 8 (Reuters) – US carmaker Tesla has signed contracts worth about $5 billion to buy materials for their batteries from nickel processing companies in Indonesia, a senior cabinet minister told CNBC Indonesia. Southeast Asia’s biggest economy has been trying to get Tesla to set up a production facility in the country, which has …

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Indonesia says Tesla strikes $5 billion deal to buy nickel products

Tesla cars are seen parked at the construction site of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 20, 2022. REUTERS/Hannibal Hanschke/ Register now for FREE unlimited access to Reuters.com Register JAKARTA, Aug 8 (Reuters) – US carmaker Tesla (TSLA.O) has signed contracts worth about $5 billion to buy materials for their …

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Dollar edges lower as currency markets pull back on Friday’s moves

Dollar falls; Aussie, Kiwi and sterling gain Traders price in 69% chance of 75 bps Fed hike in Sept LONDON, Aug 8 (Reuters) – The dollar fell on Monday, losing some of the gains it had made from Friday’s US jobs data, as currency markets pulled back on their initial reaction and waited for Wednesday’s …

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India aims to restrict sale of Chinese cheap smartphones: Report | Business and Economy News

The aim is to push Chinese giants out of the lower segment of the world’s second-biggest market, and help local industry. By Sankalp PhartiyalBloomberg Published On 8 Aug 20228 Aug 2022 India seeks to restrict Chinese smartphone makers from selling devices cheaper than 12,000 rupees ($150) to kickstart its faltering domestic industry, dealing a blow …

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Tata Motors to buy Ford India’s manufacturing plant for $91 million

Tata Motors logos are pictured outside their flagship showroom in Mumbai May 28, 2013. Picture taken May 28, 2013. REUTERS/Vivek Prakash Register now for FREE unlimited access to Reuters.com Register Aug 8 (Reuters) – Tata Motors Ltd (TAMO.NS) signed an agreement on Sunday to buy Ford Motor’s manufacturing plant in the western state of Gujarat …

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India freezes assets of Binance-linked WazirX

Representations of cryptocurrencies in this illustration taken, January 24, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Reuters.com Register MUMBAI, Aug 5 (Reuters) – India’s financial crime-fighting agency said on Friday it had frozen the assets of WazirX, linked to the world’s largest digital currency exchange Binance, as part of its investigation …

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