Reuters Asia Business

By Heekyong Yang HWASEONG, South Korea (Reuters) -Samsung Electronics workers began a three-day strike for better pay on Monday, with their union pointing to further action should South Korea’s biggest conglomerate continue to fall short of its demands. The National Samsung Electronics Union (NSEU), whose roughly 30,000 members make up almost a quarter of the …

Samsung Electronics workers strike as union voice grows in South Korea Read More »

BEIJING (Reuters) – China has shown the “utmost sincerity” over consultations relating to a European Union investigation into electric vehicle subsidies, and a comment attributed to an EU official is “grossly inconsistent with the facts,” the commerce ministry said on Monday. Jorge Toledo, the EU’s ambassador to China, was quoted by media as saying Beijing …

China has shown ‘utmost sincerity’ over China-EU EV tariff talks, ministry says Read More »

SEOUL (Reuters) -Hyundai Motor Co reached a tentative wage agreement with its South Korean labour union on Monday, a union official said, potentially avoiding a strike in the carmaker’s biggest manufacturing base. The agreement was reached after the South Korean automaker and its union held several rounds of negotiations for 46 days. “The management and …

Hyundai Motor, South Korea union reach tentative wage deal, says union Read More »

BEIJING (Reuters) -China’s car sales fell 6.9% in June from a year earlier, dropping for a third straight month as government incentives failed to spur consumer demand in a sputtering economic recovery. Passenger vehicle sales totalled 1.78 million, with the pace of decline picking up from a 2.2% drop in May and a 5.8% fall …

China’s car sales fall in June for third month running Read More »

JAKARTA (Reuters) – Indonesia’s central bank governor said on Monday there could be room for an interest rate cut in the fourth quarter as the rupiah is expected to be more stable, but will focus its efforts to maintain currency stability for now. The rupiah hit a four-year low at 16,475 per U.S. dollar last …

Indonesia central bank sees room for Q4 rate cut if rupiah stabilises Read More »

By Leika Kihara TOKYO (Reuters) -The Bank of Japan said wage hikes were broadening across the economy due to tight labour market conditions, signalling its confidence the country was making progress toward durably achieving its 2% inflation target. The optimistic assessment, made at the BOJ’s quarterly meeting of regional branch managers on Monday, may heighten …

Bank of Japan signals progress in wage, price hikes Read More »

MOSCOW (Reuters) – Kazakhstan will compensate for oil output exceeding its OPEC+ quota in the first half of this year by September 2025, its energy ministry said on Monday, adding that it has prepared a detailed plan for gradual compensation. The country is among eight OPEC+ countries that had pledged extra voluntary output cuts. It …

Kazakhstan has prepared plan to compensate for oil overproduction Read More »

JAKARTA (Reuters) -Indonesia’s budget deficit this year is estimated at 2.7% of gross domestic product, higher than the government’s 2.29% target, as state spending is expected to increase due to the rupiah’s depreciation, its finance minister said on Monday. The rupiah hit 16,475 per U.S. dollar last month, its weakest in four years, due to …

Indonesia sees 2024 budget deficit at 2.7% of GDP, finance minister says Read More »

LONDON (Reuters) – British online supermarket and technology group Ocado said on Monday it had boosted its partnership with Japan’s Aeon with plans to build a third robotic warehouse. The third customer fulfilment centre (CFC), as Ocado calls them, will be in Kuki-Miyashiro, the Saitama prefecture of Japan, and will go live in 2027. The …

Ocado builds on Aeon partnership with plans for third robotic warehouse Read More »