Reuters Asia Business

By Giuseppe Fonte ROME (Reuters) – Italian energy storage company NHOA is under government scrutiny after its leading shareholder Taiwan Cement Corp (TCC) announced a buyout offer to take the Paris-listed company private, two sources close to the matter told Reuters. So-called “golden powers” legislation gives Italy’s government the right to block or set conditions …

Italian energy storage company NHOA under govt scrutiny after Taiwan bid, sources say Read More »

By Asif Shahzad ISLAMABAD (Reuters) -Pakistani authorities began meeting those qualified to bid for the country’s national airline on Wednesday, to address concerns including a European Union Aviation Safety Agency (EASA) ban on the carrier, officials said. The privatisation of the loss-making state-owned enterprise has long been on the International Monetary Fund’s list of recommendations …

Pakistan tackles concerns by bidders over airline safety ban Read More »

By Tetsushi Kajimoto TOKYO (Reuters) -Japanese companies delivered the biggest wage hikes in three decades this year, the nation’s largest union said on Wednesday, prompted by labor shortages and an inflationary squeeze on household income. Monthly pay was up 5.10% on average this year, according to a survey of companies conducted since March by Rengo, …

Japanese firms deliver biggest pay hikes in 33 years, union survey shows Read More »

BEIJING (Reuters) – China’s industry ministry has selected 20 localities, including Beijing and Shanghai, as participants in a pilot programme for application of “vehicle-road-cloud integration” for intelligent connected vehicles. The country aims to build a unified and shared standard system for “vehicle-road-cloud integration” – aimed at putting smart connected vehicles on the road – by …

China designates pilot areas for ‘vehicle-road-cloud integration’ for smart cars Read More »

By Panarat Thepgumpanat and Chayut Setboonsarng BANGKOK (Reuters) – Thai authorities are investigating BYD’s dealers after a consumer complaint over aggressive discounting in a key international market for the Chinese EV giant that has left some buyers upset with how much they paid for their cars. The office of the Thai Prime Minister instructed the …

Thailand investigates EV giant BYD’s dealers over unfair discounting complaint Read More »

BERLIN (Reuters) -Germany’s VDA auto association has urged the European Commission to drop its planned tariffs on China-made electric vehicles in a last-ditch effort to influence negotiations ahead of the tariffs kicking in on Thursday. The association said in a statement on Wednesday the tariffs would hurt European and U.S. carmakers exporting from China and …

German car industry urges EU to drop tariffs on China-made cars Read More »

TOKYO (Reuters) – Blackstone and MBK Partners said on Wednesday the U.S. private equity firm is selling Japanese drugmaker Alinamin Pharmaceutical to the North Asian buyout fund. The deal size would be 350 billion yen ($2.17 billion), a source said on Tuesday, however neither Blackstone nor MBK in their separate statements disclosed the transaction value. …

Blackstone selling Japan drugmaker Alinamin to MBK Partners Read More »

SEOUL (Reuters) -South Korea’s financial regulator imposed record high fines on two subsidiaries of the former Credit Suisse group for stock short-selling violations, the regulator said on Wednesday. The Financial Services Commission (FSC) decided to impose fines of 16.9 billion won ($12.17 million) and 10.2 billion won on Credit Suisse AG, currently UBS AG, and …

South Korea fines Credit Suisse for illegal stock short selling Read More »

By Karen Freifeld WASHINGTON (Reuters) – The United States added six companies to its trade restriction list on Tuesday, including four for their links to the training of China’s military forces, according to a government posting. Two of the companies are in China, one in South Africa, two in the United Arab Emirates and one …

US adds six companies to trade restriction list, four for training China’s military Read More »

By Alexandra Alper WASHINGTON (Reuters) – The Biden administration has revoked eight licenses this year that had allowed some companies to ship goods to Chinese telecoms equipment giant Huawei, according to a document first reported by Reuters, as it seeks to pressure the resurgent company. The Commerce Department, which oversees U.S. export policy, said in …

Biden revoked 8 licenses for China’s Huawei in 2024, document shows Read More »