Reuters Asia Business Archives - Page 1047 of 2133

Fire breaks out at Idemitsu’s Chiba refinery, spokesperson says

2 Jul 2024 2 Jul 2024

TOKYO (Reuters) – A fire broke out at Idemitsu Kosan’s Chiba refinery early Tuesday afternoon, a company spokesperson said, adding that no further details were available for now. Idemitsu Kosan, Japan’s second-biggest oil refiner, operates a 190,000-barrel-per-day crude distillation unit (CDU) at the Chiba refinery near Tokyo. It was not immediately known if the unit …

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China to develop more than 50 new standards for AI sector by 2026

2 Jul 2024 2 Jul 2024

BEIJING (Reuters) – China will develop more than 50 new national and industrial standards by 2026, the industry ministry said in a statement on Tuesday. The goal is part of the guidelines the ministry issued on standardising systems for the artificial intelligence sector. (Reporting by Albee Zhang and Ryan Woo; Editing by Jacqueline Wong)

Sri Lanka to save $5 billion after bilateral debt rework, president says

2 Jul 2024 2 Jul 2024

By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka will save $5 billion in interest owed to bilateral creditors as part of its debt restructuring process, President Ranil Wickremesinghe said on Tuesday, adding that the funds will be used to boost dollar reserves and restore growth. The cash-strapped South Asian country inked deals with China and …

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Indonesia’s Delta Dunia eyes more deals as it completes US coal buy

1 Jul 2024 1 Jul 2024

MELBOURNE (Reuters) – Indonesia’s Delta Dunia Group plans to grow through acquisitions, backed by strong support from its lenders, after it completed the $122.4 million purchase of Atlantic Carbon Group on Monday, director Iwan Salim said. The Jakarta-listed company has been diversifying beyond its home base of Indonesia where it runs its BUMA coal mining …

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China sets up new state body to drill deep for oil and gas reserves

1 Jul 2024 1 Jul 2024

SINGAPORE (Reuters) – China is setting up a new entity that groups national oil producers and other state firms to search for ultra-deep oil and gas reserves and tackle harder-to-extract non-conventional resources, state energy group CNPC said on Monday. This is in answer to President Xi Jinping’s call for the sector to have “new productive …

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More American tourists head to Japan as battered yen beckons

1 Jul 2024 1 Jul 2024

By Aishwarya Jain (Reuters) -American tourists headed for Japan have surged this year, lured by a slump in the value of the yen, which is also driving a massive jump in foreign investor interest in the country’s lodgings market. The number of Americans arriving in Japan by air crossed more than 900,000 in the first …

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Samsung Electronics union in South Korea declares general strike

1 Jul 2024 1 Jul 2024

By Ju-min Park and Heekyong Yang SEOUL (Reuters) -A workers’ union at Samsung Electronics in South Korea said on Monday it would launch a general strike until its demands for better pay and time off were met, warning of more damaging action against the country’s most powerful conglomerate than its one-day walkout last month. The …

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Airbus may end up owning some Spirit Aero assets in Scotland, Malaysia

1 Jul 2024 1 Jul 2024

By Abhijith Ganapavaram (Reuters) – Airbus may end up owning some assets of Spirit AeroSystems in Scotland and Malaysia if the transatlantic supplier is unable to find a buyer for them, a filing from the aerostructures company showed on Monday. The European planemaker has agreed to take over core activities at four of the supplier’s …

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Restaurant Brands to buy Popeyes China franchise, co-invest in Tims China

1 Jul 2024 1 Jul 2024

(Reuters) – Restaurant Brands International will buy the China franchise of its Popeyes brand and invest in Tims China along with private-equity firm Cartesian Capital, the company said on Monday. TH International’s Tims China, which is the exclusive operator of Tim Hortons in the country, will get up to $50 million of capital infusion from …

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Ascendent Partners wins China approval to buy Hollysys for $1.7 billion

1 Jul 2024 1 Jul 2024

(Reuters) – China-focused private equity firm Ascendent Capital said on Monday it has obtained all approvals in China for its proposed $1.7 billion takeover of Hollysys Automation Technologies. Ascendent, which holds a 13.7% stake in Hollysys as the biggest shareholder, proposed a non-binding, all-cash offer to buy all the remaining shares of the automation control …

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Reuters Asia Business﻿﻿

Reuters Asia Business