Wires

  • SHANGHAI, Jan 17- China's yuan firmed slightly against the dollar on Tuesday, buoyed by its firmer offshore counterpart and as corporates eased off heavy dollar purchases this week. The People's Bank of China set the midpoint rate at 6.8992 per dollar prior to market open, weaker than the previous fix 6.8874. The market was also awaiting clearer direction on the...

  • DOLLAR/ YEN FALLS BELOW 113.61 YEN, HITS LOWEST LEVEL SINCE EARLY DECEMBER.

  • *Cadillac to launch more products in China ahead of other regions. BEIJING, Jan 17- General Motors Co's Cadillac expects sales in China to continue growing at a double-digit rate this year, but at a slower pace than in 2016 when volumes saw a sharp spike after the brand opened its first dedicated factory in the country. Cadillac, relatively late to introduce local...

  • *China to target around 6.5 percent growth in 2017- sources. SHANGHAI, Jan 17- China stocks fell on Tuesday as small caps skidded for the ninth consecutive session, rattling investor confidence and reviving memories of the broader market crash in mid-2015. Sentiment was also dampened by a Reuters report that China would lower its 2017 economic growth target to...

  • President Xi Jinping leads a Chinese delegation of over 100 officials and scores of business executives attending the World Economic Forum, embodying a tectonic shift at an event that started nearly a half-century ago among Europeans and Americans. Such transitions have given an opening for Xi, who arrived by train in the Alpine snows of Davos to a red-carpet...

  • KUALA LUMPUR, Jan 17- Warren Buffett's Berkshire Hathaway has won a licence to provide reinsurance services in Malaysia, the billionaire investor's group said, as it expands operations in Asia. Berkshire Hathaway Specialty Insurance Company said in a statement on Monday it has established an office in the Malaysian capital Kuala Lumpur to provide the...

  • KUALA LUMPUR, Jan 17- Warren Buffett's Berkshire Hathaway has won a license to provide reinsurance services in Malaysia, the billionaire investor's group said, as it expands operations in Asia. Berkshire Hathaway Specialty Insurance Company said in a statement on Monday it has established an office in the Malaysian capital Kuala Lumpur to provide the...

  • *Excessive moisture in Argentina's crop-belt to hit yields. SINGAPORE, Jan 17- Chicago soybean futures rose for a third consecutive session on Tuesday, climbing to a seven-week top as heavy rains across Argentina's central crop belt raised concerns over yield losses. The Chicago Board of Trade most-active soybean contract gained 1.2 percent to $10.58-1/ 2 a...

  • Jan 17- Gold prices rose on Tuesday to hover near seven-week highs hit the day before, with safe-haven demand boosted ahead of a speech in which British Prime Minister Theresa May is expected to discuss plans for a "hard Brexit". Spot gold had risen 0.3 percent to $1,205.93 per ounce by 0324 GMT. "Gold is going to do very well in the first half of the year due to Brexit...

  • TOKYO, Jan 17- The British pound flirted with a three-month low on Tuesday, hit by fears that Prime Minister Theresa May's speech later in the day is likely to set Britain on a course that would end its access to the lucrative European Union single market. The pound was on the defensive at $1.2045, having slumped to a three-month low of $1.1983 on Monday, which was its...

  • *Cadillac to launch more products in China ahead of other regions. BEIJING, Jan 17- Cadillac, General Motors Co's luxury brand, is predicting a double digit growth rate in China sales this year, the brand's country chief Andreas Schaaf told Reuters on Tuesday. The brand- which opened its first dedicated factory in China last year, helping boost Cadillac sales in the...

  • Speaking at a conference of business leaders from both countries also attended by visiting Japanese Prime Minister Shinzo Abe, Phuc said Vietnam would like to see Japan invest more in infrastructure, agriculture, manufacturing and services. "At this meeting with Prime Minister Shinzo Abe, we wish that Japan would be the largest investor to Vietnam, not other...

  • WASHINGTON, Jan 16- General Motors Co will announce as early as Tuesday long-held plans to invest about $1 billion in its U.S. factories, following recent criticism of the company by President-elect Donald Trump, a person briefed on the matter told Reuters late on Monday. On Jan. 3, Trump threatened to impose a "big border tax" on GM for making some of its Chevrolet...

  • SINGAPORE, Jan 17- Oil markets were mixed on Tuesday, supported by Saudi Arabia saying it would strictly adhere to a commitment to cut output, but held back by skepticism in financial markets that oversupply would be curbed. West Texas Intermediate crude oil futures were trading up 8 cents at $52.45 per barrel at 0231 GMT. Traders said markets were receiving some...

  • SINGAPORE, Jan 17- Oil markets were mixed on Tuesday, supported by Saudi Arabia saying it would strictly adhere to a commitment to cut output, but held back by scepticism in financial markets that oversupply would be curbed. West Texas Intermediate crude oil futures were trading up 8 cents at $52.45 per barrel at 0231 GMT. Traders said markets were receiving some...

  • *Nickel loses ground as Indonesia moves to boost exports. SINGAPORE, Jan 17- LME copper slid for a second session on Tuesday as a firmer U.S. dollar pressured the market, but expectations of strong demand in top consumer China put a floor under prices. "The main issue in the market is Theresa May's speech on hard Brexit and as a result the dollar has strengthened, so we...

  • *The most active soybean futures on the Chicago Board of Trade climbed 1.36 percent to $10.59-1/ 2 a bushel, after earlier touching their highest since Nov. 28 at $10.62-1/ 4. *The USDA said early on Friday that private exporters reported the sale of 132,000 tonnes of soybeans for delivery to unknown destinations. *The British pound flirted with a three-month low on...

  • TOKYO, Jan 17- Asian stocks and the pound sagged on Tuesday as investors waited for British Prime Minister Theresa May to lay out plans to exit the European Union, which traders fear will see Britain lose access to the bloc's single market. Britain will not seek a Brexit deal that leaves it "half in, half out" of the EU, May will say later in the day, according to her office,...

  • *China economy worries ease but big risks remain. Xi's appearance, a first for a Chinese leader at the annual meeting of political leaders, CEOs and bankers in Davos, comes as the part the United States plays as a force for multilateral cooperation on issues like trade and climate change is in doubt following the election of Donald Trump. This has left a vacuum that...

  • *China economy worries ease but big risks remain. Xi's appearance, a first for a Chinese leader at the annual meeting of political leaders, CEOs and bankers in Davos, comes as the part the United States plays as a force for multilateral cooperation on issues like trade and climate change is in doubt following the election of Donald Trump. This has left a vacuum that...