Reuters Asia Business

TOKYO (Reuters) – Momentum to raise wages has been spreading among small and medium firms in Japan this year, reflecting labour shortages and efforts to help employees tackle an inflationary squeeze, a central bank survey showed on Friday. According to the Bank of Japan’s survey on regional small and medium firms, labour shortages are now …

BOJ survey shows wage growth spreading among small, medium Japanese firms Read More »

HANOI (Reuters) – HSBC Bank on Friday raised its forecast for Vietnam’s gross domestic product growth for this year to 6.5% from its previous forecast of 6.0%, after second-quarter growth beats consensus. “Beyond headline numbers, its recovery has started to show signs of broadening out,” HSBC said in a note. It said, however, inflation appears …

HSBC raises Vietnam 2024 GDP growth forecast to 6.5% Read More »

(Reuters) – The Japanese yen surged nearly 3% on Thursday in its biggest daily rise since late 2022, a move that local media attributed to a round of official buying to prop up a currency that has languished at 38-year lows. The dollar dropped to as low as 157.40, straight after data showed U.S.consumer inflation …

Instant view: Japanese yen surges, ringing intervention alarm bells Read More »

(Reuters) -Boeing is nearing a potential sale of some two dozen 777X jets to Korean Air in a roughly $4 billion to $6 billion deal that could be finalised as early as July’s Farnborough Airshow, industry sources said. South Korea’s largest carrier has been in talks over a potential return to its traditional supplier of …

Boeing nearing deal to sell 777X jets to Korean Air, sources say Read More »

SHANGHAI (Reuters) – China’s central bank introduced a new cash management tool this week in the form of temporary bond repurchase (repo) agreements and reverse repos, adding to its various open market operations and creating what could become an important interest rate indicator. The following explains the mechanics and intent of this new tool, which …

Explainer-Why does China’s central bank have a new cash management tool? Read More »

By David Shepardson WASHINGTON (Reuters) -A U.S. House committee on Thursday voted to release a transcript of a closed-door hearing in March on threats posed by TikTok to the Justice Department in its defense of a law that seeks to force its Chinese owner to divest the popular app’s U.S. assets. China-based ByteDance, TikTok and …

US House seeks to boost DOJ defense of TikTok crackdown law Read More »

BERLIN (Reuters) -Germany has closed a deal with telecom providers to exclude Chinese companies such as Huawei or ZTE from the nation’s 5G network products from 2029, its interior minister said on Thursday. “We have now reached a clear and strict agreement with the telecoms companies,” minister Nancy Faeser told reporters in Berlin, hailing the …

Germany to phase out Huawei, ZTE components from its 5G core network Read More »

By Colleen Howe BEIJING (Reuters) -Almost two-thirds of big wind and solar plants under construction globally are in China, where surging renewable capacity has squeezed coal’s generation share to new lows, research released on Thursday showed. China is building 339 gigawatts (GW) of utility-scale wind and solar, or 64% of the global total, a report …

China is building two-thirds of new wind and solar globally, report says Read More »

(Reuters) -Singapore’s competition watchdog asked ride-hailing firm Grab and Trans-cab for solutions to address competition concerns following a deal last year to buy the taxi operator. Grab is one of the city-state’s top ride-hailing companies, with the deal for Trans-cab reported to be valued at around S$100 million ($74 million). The Competition & Consumer Commission …

Grab’s deal to buy Trans-cab could reduce competition, Singapore regulator says Read More »