Reuters Asia Business

(Reuters) -Embattled Chinese property developer Shimao Group said on Thursday a Hong Kong court had adjourned a winding up petition against the company to Dec. 16, allowing Shimao more time to work with creditors on a revised restructuring proposal. Since the Chinese property sector plunged into a debt crisis in 2021, numerous developers, including major …

Hong Kong court adjourns Chinese developer Shimao’s liquidation petition Read More »

By Leika Kihara TOKYO (Reuters) – The Bank of Japan managed to calm investor nerves during global market turmoil this week by reversing a calibrated strategy to communicate steady interest-rate rises, but the flip-flop tests the bank’s resolve to phase out decades of radical stimulus. If the central bank, scarred by missteps and reversals going …

Analysis-BOJ’s communication about-face may haunt future rate moves Read More »

By Heekyong Yang SEOUL (Reuters) – South Korea’s environment ministry said on Thursday it plans to hold an emergency meeting next week to discuss fires involving electric vehicles (EVs), including a blaze that caused extensive damage, and draw up measures to prevent such incidents. The ministry said the land and industry ministries will join Monday’s …

South Korea to hold emergency meeting after EV fires raise safety concerns Read More »

(Reuters) – Foreign investors kept up a sell-off in Japanese stocks in the week to Aug. 2, concerned about a yen rally that is clouding the profit outlook for export-reliant firms, while a historic rate hike by the Bank of Japan further fuelled bets on the yen. Stock exchange data showed they sold a robust …

Foreigners sell Japanese stocks amid yen rally, BOJ rate hike Read More »

By Mikhail Flores and Neil Jerome Morales MANILA (Reuters) -The Philippine economy expanded slightly faster than expected in the second quarter, with government spending and investments offsetting “anaemic” consumption growth as inflation weighed on households. Gross domestic product (GDP) grew 6.3% from the April-June quarter last year, the statistics agency said. A rate cut next …

Philippines economy grows 6.3% in Q2 despite ‘anaemic’ consumer spending Read More »

MOSCOW (Reuters) – Russia and China may begin using barter trading schemes, three trade and payments sources told Reuters, with two expecting deals involving agriculture as soon as this autumn, as Moscow and Beijing try to limit using banking systems monitored by the United States. Bilateral payment delays were high on the agenda when President …

Exclusive-First Russia-China barter trade may come this autumn, sources say Read More »

BERLIN (Reuters) – The United States overtook China as Germany’s biggest trading partner in the first half of 2024, according to preliminary German statistics office data, as Berlin’s drive to reduce dependency on Beijing takes shape amid a resilient U.S. economy. German imports and exports to the world’s largest economy totalled around 127 billion euros …

US tops China as Germany’s biggest trading partner Read More »

(Reuters) – Boeing on Wednesday said it has been ramping up its production of PAC-3 seekers – critical components used in Patriot interceptors – to meet the surge in demand for the missile defense system. The company said it was on pace to break its annual seeker production record by over 20% by the end …

Boeing says it’s ramping up seeker production as Patriot demand surges Read More »