Reuters Asia Business

By David Shepardson WASHINGTON (Reuters) – The U.S. Commerce Department said on Tuesday it plans to award SK Hynix up to $450 million in grants to help fund an advanced packaging plant and research and development facility for artificial intelligence products in Indiana. In April, SK Hynix, the world’s second-largest memory chip maker, said it …

US to award SK Hynix up to $450 million for US chips packaging facility Read More »

By Anton Bridge TOKYO (Reuters) – Japan’s SoftBank Group is expected to report a modest first-quarter profit on Wednesday but investors are set to hone in on whether the tech investment giant will either announce a major share buyback or flag its willingness to embark on one. The results come amid much market turmoil, particularly …

SoftBank seen posting modest profit in Q1, buyback potential in focus Read More »

ROME (Reuters) -Talks between the Italian government and China’s Dongfeng Motor Group about building an auto plant in Italy are at an advanced stage, Italian sources close to the matter said on Tuesday. The negotiations are part of efforts to attract another major automaker to the country in addition to Stellantis, the country’s sole major …

China’s Dongfeng in pole position to build an auto plant in Italy – Italian sources Read More »

By Satoshi Sugiyama and Makiko Yamazaki TOKYO (Reuters) -Japanese leaders rushed on Tuesday to assuage concerns about the sharp swings in the country’s financial markets, with the prime minister urging calm and senior finance officials convening an emergency meeting to discuss the global stock market sell-off. The executives from Japan’s Ministry of Finance, the Financial …

Japan seeks to calm market’s nerves after stock price fluctuations Read More »

(Reuters) -Global stocks rallied on Tuesday, partly reversing some of the previous day’s steep declines, while the Japanese yen took a breather, after central bank officials said all the right things to soothe investor nerves. Japan’s Nikkei soared more than 10% after plunging 12% on Monday in its biggest one-day percentage drop since October 1987. …

Investors’ comments on global market bounce Read More »

BEIJING (Reuters) – China’s state planner unveiled details on Tuesday of a three-year plan to upgrade the power system as the country seeks to ramp up renewables and ease the strain of rising power demand on the national grid. The 2024-2027 plan launched by the National Reform and Development Commission will help China meet a …

China’s state planner outlines power system upgrade priorities Read More »

LONDON (Reuters) – The International Monetary Fund said it was “fully committed to Bangladesh and its people” after protests ousted the prime minister. The Fund, which approved a $4.7 billion loan programme with the country in January 2023, said it was “deeply saddened by loss of lives and injuries,” but would continue to “support efforts …

IMF says it is ‘fully committed’ to Bangladesh after protests oust PM Read More »

TOKYO (Reuters) – Japanese city gas provider Osaka Gas said on Tuesday it has signed a long-term Heads of Agreement (HOA) with UAE’s ADNOC for the delivery of up to 0.8 million metric tons per annum of liquefied natural gas (LNG). This marks the first long-term LNG deal between Osaka Gas and ADNOC, the Japanese …

Osaka Gas, ADNOC sign initial agreement for LNG delivery Read More »

(Reuters) -Yum China Holdings said finance chief Andy Yeung intends to resign for personal reasons, effective Sept. 30. Adrian Ding, the company’s chief investment officer, has been named as acting CFO, effective Oct. 1. Yeung, who has served as Yum China’s chief financial officer since October 2019, will serve as senior adviser to the company’s …

Yum China CFO to resign Read More »