SINGAPORE (Reuters) – China said on Saturday it will “significantly increase” government debt issuance to offer subsidies to people with low incomes, support the property market and replenish state banks’ capital as it pushes to revive sputtering economic growth. Without providing details on the size of the fiscal stimulus being prepared, Finance Minister Lan Foan told a news conference there will be more “counter-cyclical measures” this year. Global financial markets have been keenly awaiting more details on China’s stimulus plans, fearing its 2024 economic growth target and longer-term growth trajectory may be at risk if more support is not announced…
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By Kevin Yao and Joe CashBEIJING (Reuters) -China said on Saturday it will “significantly increase” government debt issuance to offer subsidies to people with low incomes, support the property market and replenish state banks’ capital as it pushes to revive sputtering economic growth.Without providing details on the size of the fiscal stimulus being prepared, Finance Minister Lan Foan told a news conference there will be more “counter-cyclical measures” this year.”There is still relatively big room for China to issue debt,” said Lan.The world’s second-largest economy faces strong deflationary pressures due to a sharp property market downturn and frail consumer confidence,…
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Evolus, Inc. (NASDAQ: EOLS), a performance beauty company with a focus on building an aesthetic portfolio of consumer brands, today reported the grant of non-qualified stock options to purchase an aggregate of 10,251 shares of Evolus (NASDAQ:) and an aggregate of 31,049 restricted stock units (RSUs) of the company’s common stock to 16 newly hired non-executive employees of the company. Additionally, the compensation committee approved the grant of individually negotiated awards to Umberto La Magna, Senior Vice President, International. Mr. La Magna’s awards include the grant of non-qualified stock options to purchase 40,286 shares of Evolus and…
Lan Fo’an, China’s finance minister, center, speaks as Zheng Shanjie, chairman of the National Development and Reform Commission (NDRC), left, and Pan Gongsheng, governor of the People’s Bank of China (PBOC), listen during a news conference on the sidelines of the National People’s Congress in Beijing, China, on Wednesday, March 6, 2024.Bloomberg | Bloomberg | Getty ImagesBEIJING — China’s Minister of Finance Lan Fo’an told reporters Saturday during a press briefing that the central government has room to increase debt and the deficit. He said such policies were still under discussion. Four policies that have reached a decision-making stage covered major state-owned banks and…
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By Kevin Yao and Joe Cash BEIJING (Reuters) – China said on Saturday it will “significantly increase” government debt issuance to offer subsidies to people with low incomes, support the property market and replenish state banks’ capital as it pushes to revive sputtering economic growth. Without immediately providing specific figures, Finance Minister Lan Foan told a news conference the central government has ample room to issue more debt and that there will be more “counter-cyclical measures” this year. Fiscal stimulus measures in China have been the subject of intense speculation in global financial markets after a September meeting of the…
Fortescue Metals Group is forging ahead with its bold plan to achieve “real zero” emissions by 2030, a move that could generate substantial financial rewards under the Australian government’s new carbon credit scheme. This initiative, known as Safeguard Mechanism Credits (SMCs), is part of the Albanese government’s broader strategy to incentivize businesses to cut emissions and meet the country’s climate targets. If Fortescue succeeds in meeting its ambitious emissions goals, it could earn between $50 million and $150 million annually from selling the carbon credits. Fortescue’s Bold “Real Zero” Ambition Chairman Andrew Forrest has made it clear that Fortescue’s ultimate…
(Bloomberg) — Shares of Toronto-Dominion Bank dropped again on Friday, bringing their two-day decline to almost 10%, after the lender agreed to stiff penalties for allowing financial crimes to take place for years in its US branches.Most Read from BloombergCanada’s second-largest bank was fined $3.1 billion and hit with a cap on its US retail banking assets after pleading guilty Thursday to a raft of money laundering charges. The stock fell 6% that day and another 4% on Friday, ending the week at C$78.48 in Toronto — the lowest close since Aug. 9.It was the biggest two-day skid since March…
Carbon Plus has launched Malaysia’s first industrial biochar facility, the Bukit Selar Carbon Station, located in Bukit Selar, Kelantan. This pioneering facility, which will produce 500 tonnes of high-quality biochar annually, utilizes advanced gasification technology provided by Renewables Plus. The feedstock for biochar production includes wild, mature bamboo and Palm Kernel Shell (PKS), a byproduct of palm oil production. To enhance the efficiency and transparency of its operations, Carbon Plus has integrated CrystalTrade’s digital Monitoring, Reporting, and Verification (dMRV) solution. This technology allows Carbon Plus to track and optimize its carbon removal processes while generating CO2 Removal Certificates (CORCs) under…
(Reuters) – A U.S. appeals court on Friday put on hold approvals and permits necessary to allow a Kinder Morgan subsidiary to construct a 32-mile gas pipeline in Tennessee, at the urging of environmental groups.The proposed Cumberland Project, set to be constructed by Kinder Morgan’s Tennessee Gas Pipeline, could transport about 245,000 dekatherms per day of additional natural gas to power supplier Tennessee Valley Authority.On a 2-1 vote, Cincinnati-based 6th U.S. Circuit Court of Appeals put a hold on the Tennessee Department of Environment and Conservation’s order issuing a water quality certification and the Army Corps of Engineers’ issuance of…