Reuters Asia Business

China to investigate if EU probes constitute trade barriers, says commerce ministry

10 Jul 2024

BEIJING (Reuters) – China will examine whether European Union investigations of Chinese enterprises amounted to “trade barriers,” its commerce ministry said on Wednesday. The enquiry will consider if Chinese firms inadvertently lost business in the 27-strong bloc’s internal market due to Brussels carrying out various types of investigations, the application to launch the probe by …

China to investigate if EU probes constitute trade barriers, says commerce ministry Read More »

Japan’s Kokusai Electric to hold secondary offering; KKR to sell shares

10 Jul 2024

TOKYO (Reuters) -Kokusai Electric said on Wednesday it would hold a secondary offering of up to 60.4 million shares, with investors including private equity firm to sell shares. The secondary offering would be worth about 326 billion yen ($2.02 billion) including overallotment based on Wednesday’s closing price and follows a blistering run in the shares …

Japan’s Kokusai Electric to hold secondary offering; KKR to sell shares Read More »

Japan’s credit profile to benefit from higher interest rates, Fitch analyst says

10 Jul 2024

By Makiko Yamazaki TOKYO (Reuters) – Japan’s price increases and higher interest rates could benefit the country’s credit profile by inflating debt away and promoting productivity despite higher pressure on public finances, Fitch Ratings’ Japan sovereign analyst told Reuters. “Higher interest rates and inflation are more positive than people think,” Krisjanis Krustins, director at Fitch, …

Japan’s credit profile to benefit from higher interest rates, Fitch analyst says Read More »

Thailand has funds to finance $13.8 billion handout scheme, official says

10 Jul 2024

(Corrects paragraph 6 to say “Party”, not “Party’s”) BANGKOK (Reuters) -Thailand’s government has sufficient funds to finance a 500 billion baht ($13.8 billion) household handout scheme, which is on track to be rolled out in the fourth quarter, a deputy finance minister said on Wednesday. The government has prepared 450 billion baht from 2024 and …

Thailand has funds to finance $13.8 billion handout scheme, official says Read More »

Samsung Electronics’ main South Korea union to go on indefinite strike

10 Jul 2024

By Heekyong Yang and Ju-min Park SEOUL (Reuters) -Samsung Electronics’ biggest workers’ union in South Korea said on Wednesday it will continue a strike indefinitely, stepping up its campaign against the tech giant for better pay and benefits. The National Samsung Electronics Union (NSEU), whose roughly 30,000 members make up almost a quarter of the …

Samsung Electronics’ main South Korea union to go on indefinite strike Read More »

Yoma shares dive as it discloses meetings with Myanmar authorities

10 Jul 2024

SINGAPORE (Reuters) – Shares in Myanmar-focused conglomerate Yoma Strategic Holdings fell nearly 17% in Singapore on Wednesday after the company said Executive Chairman Serge Pun was cooperating with authorities in the capital Naypyitaw on bank business matters. “There are no charges filed against him,” the company said in a statement, adding that Pun had been …

Yoma shares dive as it discloses meetings with Myanmar authorities Read More »

Malaysia aims to finalise SEZ deal with Singapore in September

10 Jul 2024

KUALA LUMPUR (Reuters) – Malaysia said on Wednesday it will seek to finalise plans and sign a full-fledged pact with Singapore to develop a special economic zone (SEZ) between the countries in September. The neighbours in January agreed to develop the SEZ in Malaysia’s southern Johor state, just north of Singapore, aiming to attract investment …

Malaysia aims to finalise SEZ deal with Singapore in September Read More »

TSMC Q2 revenue jumps on AI boost, handily beats market forecasts

10 Jul 2024

By Ben Blanchard and Faith Hung TAIPEI (Reuters) -TSMC, the world’s largest contract chipmaker, reported strong growth in second-quarter revenue on Wednesday that handily beat market forecasts, on the back of booming demand for artificial intelligence (AI) applications. Taiwan Semiconductor Manufacturing Co, whose customers include Apple and Nvidia, has benefited from the surge towards AI …

TSMC Q2 revenue jumps on AI boost, handily beats market forecasts Read More »

Shein pledges to invest in UK and Europe ahead of potential IPO

10 Jul 2024

By Helen Reid and James Davey LONDON (Reuters) – Fast fashion retailer Shein said it would invest 250 million euros ($271 million) over five years in the UK and Europe as the company battles criticism of its model based around flying cheap clothes and accessories from factories in China direct to shoppers worldwide. Shein, which …

Shein pledges to invest in UK and Europe ahead of potential IPO Read More »

Thai Finance Minister says economy not good, wants relaxed mortgage rules

10 Jul 2024

By Kitiphong Thaichareon and Orathai Sriring BANGKOK (Reuters) -Thailand’s economy is not good and the property sector needs urgent support due to weak demand and rising bad loans, the country’s finance minister said on Wednesday. The government was working to lift economic growth to 3% this year from current projections of about 2.5%, Pichai Chunhavajira …

Thai Finance Minister says economy not good, wants relaxed mortgage rules Read More »

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