Tag: Business
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Kioxia forecasts $11.78 billion Q2 operating profit
TOKYO, July 31 : Kioxia said on Friday it expects to report operating profit of 1.89 trillion yen ($11.78 billion) in the July-September quarter as AI investment boosts demand for its memory chips. • That compares with an average estimate of 1.95 trillion yen from eight analysts surveyed by LSEG.•
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India police register case against Meta India head over Facebook posts of PM Modi
NEW DELHI, July 31 : Indian police have registered a case against the head of Meta India in Hyderabad city for user posts on its Facebook platform that depicted Prime Minister Narendra Modi in an “abusive manner”, an official said on Friday. Police are preparing to write to Meta regarding the case, said V Ara
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Yen remains under pressure after BOJ keeps rates unchanged
HONG KONG, July 31 : The yen stayed under pressure on Friday after the Bank of Japan held rates steady, paring some of the sharp gains sparked by coordinated intervention overnight as markets tested Tokyo’s resolve to support the sagging currency.The dollar last traded 0.75 per cent stronger at 160.670 yen, a
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JERA says LNG stocks secured through October, sees no summer supply risk
TOKYO, July 31 : Japan’s top power generator JERA said on Friday that it has secured adequate liquefied natural gas inventories through October, and it sees no risk to stable power supply even if a summer heatwave boosts demand.”We have secured sufficient LNG stocks for the peak summer demand season from Augu
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BOJ keeps rates steady, delivers hawkish signal as government props up yen
TOKYO, July 31 : The Bank of Japan kept interest rates steady on Friday but signaled its resolve to continue pushing up borrowing costs, in the wake of the government’s yen-buying intervention overnight that failed to give the sagging currency lasting support.Japan conducted yen-buying, dollar-selling market
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Yen remains under pressure after BOJ kept rates unchanged
HONG KONG, July 31 : The Japanese yen stayed under pressure on Friday after the Bank of Japan kept rates unchanged as markets tested Tokyo’s resolve in the wake of a coordinated intervention to prop up the fragile currency. The dollar extended gains, to trade up 0.81 per cent at 160.760 yen, after the previou
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Sony hikes profit forecast on gaming strength
TOKYO: Sony on Friday (Jul 31) hiked its full-year operating profit forecast by 8 per cent to 1.72 trillion yen (US$10.72 billion), citing the strength of its gaming business.The Japanese conglomerate has received plaudits for its pivot to entertainment, but the market is concerned about the impact of AI and
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Investors react to BOJ’s decision to hold rates
July 31 : The Bank of Japan kept its interest rates steady on Friday, while reiterating its willingness to raise borrowing costs further if inflation risks increase. At the end of its two-day policy meeting, the central bank voted 8-1 to keep its short-term policy rate at 1 per cent. Board member Hajime Takat
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Japan’s FX reserve account logs $31 billion surplus in FY2025
TOKYO, July 31 : Japan posted a surplus of $31 billion from a special government account for foreign exchange reserves in the fiscal year that ended in March, the second-highest on record, thanks to a weaker yen boosting its yen returns on foreign assets.The surplus from the special account, which manages for
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China’s factory activity unexpectedly shrinks in July as demand sags
BEIJING: China’s factory activity unexpectedly slipped into contraction in July, pressured by shrinking new orders that reinforced concerns over slowing economic growth, weak demand at home and elevated production costs.The official manufacturing purchasing managers’ index (PMI) fell to 49.2 from 50.3 in
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