Asia Business

Support for cryptocurrencies from US President Donald Trump or Argentine leader Javier Milei has seen investors lose billions of dollars and is damaging a sector struggling for credibility, researchers told AFP.”The entire crypto industry is being tarnished,” said Claire Balva, strategy director for fintech company Deblock.Argentine prosecutors are reportedly examining whether Milei engaged in fraud …

Political support leading to increasing fallout for crypto Read More »

Global stock markets largely slipped on Monday after another turbulent day of trading, with the S&P 500 briefly falling into correction territory before reversing course ahead of a wave of US tariffs this week that have fanned recession fears.On Wall Street, US stocks shook off some early gloom about President Donald Trump’s imminent tariff announcement …

Global stocks mostly lower as tariff fears rattle markets Read More »

President Donald Trump again downplayed risks that TikTok is in danger of being banned in the United States, saying he remains confident of finding a buyer for the app’s US business by a Friday deadline.The hugely popular video-sharing app, which has over 170 million American users, is under threat from a law that passed overwhelmingly …

Trump confident in finding TikTok buyer before deadline Read More »

Debt-laden Chinese property giant Vanke reported annual losses of 49.5 billion yuan ($6.8 billion) on Monday, citing falling sales and shrinking profit margins despite Beijing’s attempts to revive the housing market.Vanke said 2024 was an “exceptionally challenging year” in a filing to the Hong Kong stock exchange and apologised for “distress caused… due to the …

China property giant Vanke reports annual loss of $6.8 bn Read More »

Renault and Nissan said Monday they had revised their partnership to allow for a reduction in their cross-shareholdings and other measures that would help the financially troubled Japanese carmaker.The new agreement will allow the carmakers to reduce their current 15 percent cross-shareholdings to 10 percent.Renault will also acquire Nissan’s 51 percent stake in their joint …

Renault and Nissan shift gears on alliance Read More »

Chinese smartphone maker giant Huawei said Monday that profits fell 28 percent last year as it faced international economic uncertainty and weak consumption at home.The Shenzhen-based company has been at the centre of an intense standoff between China and the United States after Washington warned its equipment could be used for espionage by the Chinese …

Chinese tech giant Huawei says profits fell 28% last year Read More »

President Donald Trump said Sunday he was confident of reaching a deal on TikTok ahead of the April 5 deadline for its Chinese owner ByteDance to sell the popular short video app or see it banned in the United States.”We have a lot of potential buyers. There’s tremendous interest in TikTok,” Trump told reporters onboard …

Trump says confident of TikTok deal before deadline Read More »

Japan wants to become a hydrogen fuel leader to meet its net-zero goals, but one blockbuster project is hanging in the balance over questions about its climate credentials.The Hydrogen Energy Supply Chain (HESC) is billed as a billion-dollar attempt to ship liquid hydrogen from Australia to Japan.However, cold feet about the project in Australia means …

Japan-Australia flagship hydrogen project stumbles Read More »

China’s manufacturing activity grew in March for the highest rate in a year, official data showed Monday, a rare bright spot as the world’s second-largest economy struggles to climb out of a prolonged slump.Authorities have looked in recent months to revive confidence in the Chinese economy, grappling with a prolonged property sector crisis and now …

China manufacturing activity grows at highest rate in a year Read More »

Tokyo led another plunge across Asian markets Monday while gold hit a record high as investors steel themselves for a wave of US tariffs this week that has fuelled recession fears.Equities across the planet have been hammered in recent weeks ahead of Donald Trump’s “Liberation Day” on April 2, when his administration will unveil a …

Japan’s Nikkei leads big losses in Asian markets as gold hits record Read More »