IBT Staff Reporter

Samsung Electronics Co Ltd has scaled back production at its massive smartphone plant in Vietnam, employees say, as retailers and warehouses grapple with rising inventory amid a global fall in consumer spending.

Malaysia is scrambling to protect its assets as the descendants of the last sultan of the remote Philippine region of Sulu look to enforce a $15 billion arbitration award in a dispute over a colonial-era land deal.

Shareholders in Glencore reaped a multi-billion dollar windfall on Thursday, as the company's adherence to thermal coal mining at a time of soaring prices of the material generated record profits for the mining and commodity trading group.

Miner and trader Glencore said on Thursday it would return an additional $4.5 billion to investors, including a share buyback of $3 billion, after reporting a record half-yearly profit mostly due to high coal prices.

As Japan faces its first major battle with inflation in decades, Prime Minister Fumio Kishida is extending a rare olive branch to labour unions, who he sees as crucial to his wider push to boost household wealth.

Great Barrier Reef sees fragile coral comeback

Russia's ambassador to Japan paid his respects at a memorial in Hiroshima on Thursday saying he wanted to highlight Russia's efforts to reduce nuclear arms and criticising a decision not to invite him to a commemoration on Saturday, media reported.

Overseas investors turned net sellers of Chinese stocks in July, as mainland stock prices tumbled on concerns that COVID-19 flare-ups and ensuing lockdowns would further disrupt economic activity.

A stone's throw from Taiwan, beachgoers aren't worried about war

Satellite company SES's Paris-listed shares slumped as much as 10% on Thursday after the Financial Times reported it was in talks with U.S. rival Intelsat about a possible merger.

Satellite company SES's CEO reiterated on Thursday he saw industry consolidation as a good thing for the highly competitive market, but would not comment on merger rumours after the group posted stronger-than-expected half-year earnings.

The Taliban on Thursday said the government had no information about al Qaeda leader Ayman al-Zawahiri "entering and living" in capital city Kabul and warned the United States to never repeat an attack on Afghan soil.

The Taliban are investigating a U.S. "claim" that al Qaeda leader Ayman al-Zawahiri was killed in a U.S.

Germany's Lufthansa said on Thursday it expected demand for short-haul flights in Europe to drive growth at its passenger airlines this year, forecasting a return to group operating profit for the full year, pushing its shares higher.

China's Taiwan war games threaten more global supply chain disruption

Toyota Motor Corp's profit slumped a worse-than-expected 42% in its first quarter as the Japanese automaker was squeezed between supply constraints and rising costs.

North Korea warned it will "never tolerate" the United States' criticism of the isolated country's nuclear programme, calling Washington the "kingpin of nuclear proliferation" and saying it would not allow any encroachment of its sovereign rights.

In South Korea, Pelosi set to visit heavily fortified DMZ

Japan must prepare for the time the central bank abandons its 0% cap on long-term interest rates and when private investors become the dominant player in the government bond market, said a finance ministry executive overseeing debt issuance.

New Zealand's health ministry sees strong signs that the country's latest COVID-19 wave has peaked, as new cases continue to trend lower.

Two years after Beirut mega-blast, Lebanon hits new lows

India's rupee will trade near its historic low in the coming three months, despite a recent recovery, based on a widening trade deficit and global flows into safe-haven U.S.

China deployed scores of planes and fired live missiles near Taiwan on Thursday in its biggest drills in the Taiwan Strait, a day after U.S.

China fired multiple missiles near Taiwan on Thursday in its biggest ever military drills in the Taiwan Strait, a day after U.S.

China fired multiple missiles around Taiwan on Thursday, launching unprecedented military drills a day after a visit by U.S.

Haaland's debut headlines opening weekend of Premier League season

Crude oil sank with Treasury yields and the dollar on Thursday as recession worries intensified following the Bank of England's warning of a drawn-out downturn, which sent sterling tumbling versus the euro.

Wall Street stocks slipped on Thursday while Treasury yields eased with oil as recession worries intensified among investors following the Bank of England's warning of a drawn-out downturn, which nudged sterling to a one-week low.

Sterling fell on Thursday after the Bank of England followed its counterparts in the United States and euro zone with a hefty hike in interest rates to quell inflation, saying Britain faces a lengthy recession.