Reuters Asia Business

(Reuters) – Private equity behemoth Apollo Global Management has invested $700 million in high-profile record label Sony Music Group, allowing its clients an opportunity to invest in “high grade” alternative assets. Apollo did not reveal the terms of the deal with Sony, which works with artists such as Lil Nas X and Celine Dion. Booming …

Private equity giant Apollo invests $700 million in Sony Music Read More »

BEIJING (Reuters) – China’s commercial hub Shanghai on Friday announced 100 billion yuan ($13.79 billion) in funds to boost its integrated circuit, biomedicine and artificial intelligence (AI) industries. The fund for the AI sector will focus on fields including intelligent chips, software, autonomous driving and intelligent robots, Shanghai’s government said in a statement. The money …

Shanghai launches $13.8 billion in funds to boost integrated circuit, biomedicine, AI sectors Read More »

GENEVA (Reuters) – Around 80 countries reached agreement on Friday on rules governing global digital commerce including recognition of e-signatures and protection against online fraud, but failed to bring the United States on board. After five years of negotiations, coordinators Australia, Japan and Singapore distributed what they called a “stabilised text”, which the European Union …

Eighty nations strike deal over e-commerce, but lack US backing Read More »

(Reuters) – Global equity funds witnessed fresh investments in the week through July 24 despite a selloff in leading technology stocks as investors remained optimistic about a still-strong second-quarter earnings season, and potential Fed rate cuts. According to LSEG data, investors snapped up global equity funds of a net $11.29 billion during the week, after …

Global equity funds draw fifth weekly inflow on earnings hopes Read More »

By Yuka Obayashi GOI, Japan (Reuters) – Japan’s biggest power generator JERA said on Friday it will start a unit of a new 2.34 gigawatt (GW) gas-fired power station at Goi in Chiba, near Tokyo, on Aug. 1 to help avoid electricity shortages during peak summer demand season. The three new 0.78-GW units replaces the …

Japan’s JERA to launch new gas-fired power plant to avoid electricity shortages Read More »

By Joyce Lee SEOUL (Reuters) -The world’s second-largest maker of memory chips, SK Hynix, said on Friday it had decided to invest about 9.4 trillion won ($6.8 billion) in its first chip plant in the South Korean city of Yongin. The Nvidia supplier, which reported on Thursday its highest earnings since 2018 and flagged rising …

Nvidia supplier SK Hynix to invest $6.8 billion in South Korea chip plant Read More »

BANGKOK (Reuters) – Regional auto making hub Thailand will introduce investment incentives for manufacturers of hybrid vehicles, its Board of Investment (BOI) said on Friday, with excise taxes for hybrids to be lowered from 2028 to 2032. Thailand has for decades been a regional centre for auto production and an export base for some of …

Thailand to offer investment incentives for makers of hybrid vehicles Read More »

By Chen Aizhu SINGAPORE (Reuters) – Imports of Iranian crude have been flowing into the port and refining city of Dalian since late last year, tanker tracking firms and trading sources said, helping sustain the country’s purchases of the oil at near record levels. The shift has happened as demand for Iranian crude from small …

Exclusive-China’s Iranian crude imports find new market in northeast Read More »

By Joyce Lee SEOUL (Reuters) – Two South Korean e-commerce platforms owned by Singapore-based Qoo10 slipped deeper into crisis on Friday after failing to make payments to vendors, with companies cutting ties and irate customers thronging their offices demanding refunds. A day earlier, South Korean authorities launched an investigation into Seoul-based TMON and WeMakePrice due …

Woes at Qoo10’s South Korean e-commerce units intensify as companies cut ties Read More »