Global Business Quick Take – Taipei Times
trade deficit shrinks
The country’s trade deficit narrowed sharply last month from a record shortfall the previous month as the effects of China’s Lunar New Year reversed, slowing imports and boosting exports. The trade gap narrowed to 897.7 billion yen (US$6.7 billion) from 3.5 trillion yen in January, the finance ministry reported yesterday. Imports increased by 8.3% year-on-year, while exports increased by 6.5%. Exports to the U.S. increased his 14.9% year-on-year, while exports to Europe increased her 18.6%, both on pace from the previous month, according to the Trade Report. Shipments to China fell her 10.9%, slowing from her 17.1% decline the previous month.
Economy contracted by 7.8%
The crisis-hit economy shrank by a record 7.8% last year. This is because prolonged power outages and critical fuel shortages have stifled local commerce. Official data from yesterday shows. Last year’s contraction, compared to 2021’s 3.5% growth and her 2020 contraction of 4.6%, is the largest in the country’s 75 years of independence as the COVID-19 pandemic hit. was. Data show some improvement in fiscal conditions, with inflation falling to around 50% last month from a record high of 69.8% last September.
Couche-Tard tender in Europe
Alimentation Couche-Tard Inc has agreed to purchase 2,193 petrol stations in Europe from TotalEnergies SE for €3.1 billion (US$3.3 billion). The Canadian convenience store operator yesterday announced it would buy all of the French oil company’s retail assets in Germany and the Netherlands, as well as his 60% stake in its Belgian and Dutch operations. Couche-Tard will finance the acquisition with cash, existing lines of credit and new term loans. The deal comes nearly two years after his bid by Couche-Tard to buy French retailer Carrefour SA failed amid government opposition.
CK Hutchison profit increased by 10%
CK Hutchison Holdings Ltd (長和集團)’s profit rose about 10% last year, beating analysts’ estimates on European and currency fluctuations. Led by eldest son Victor Lee, the company posted a net profit of his HK$36.68 billion (US$4.67 billion) last year, with total revenue up 2.7% to his HK$457 billion. became. The company announced his annual dividend of HK$2.9 per share. This is a 10% increase over the previous year.
A1 Ansari IPO off to a strong start
Remittance and currency exchange firm Al Ansari Financial Services’ Dubai initial public offering (IPO) has received orders for all shares within an hour of opening, marking a strong start to the emirate’s first listing of the year. . Al Ansari’s owners are looking to raise up to US$210 million in an IPO with a price range set at AED 1 to AED 1.03 per share, a company statement said yesterday. Al Ansari Holding LLC sells 750 million shares, or 10% of his shares. Al Ansari is his first IPO in Dubai this year and he is one of the first family-owned companies to go public in the United Arab Emirates.
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https://www.taipeitimes.com/News/biz/archives/2023/03/17/2003796228 Global Business Quick Take – Taipei Times