Reuters Asia Business

By Michael Erman NEW YORK (Reuters) – A top Bayer pharmaceutical executive said on Wednesday his group will continue slashing managerial jobs this year, planning cuts in Germany, Japan, the United Kingdom, Belgium and the Netherlands as part of the company’s internal reorganization. The pharmaceutical unit has already cut around 40% of its managerial positions …

Bayer’s pharmaceutical unit plans more managerial cuts in Europe, Asia Read More »

(Reuters) -Amazon.com plans to launch a section on its shopping site featuring cheap items that ship directly to overseas consumers from warehouses in China, the Information reported on Wednesday, citing slides shown to Chinese sellers. The new marketplace, Amazon’s most aggressive response to the growth of bargain sites like Temu and Shein, will offer unbranded …

Amazon to launch discount section with direct shipping from China, the Information reports Read More »

JAKARTA (Reuters) -E-commerce firm Shopee said on Wednesday it agreed to make changes to its services in Indonesia after the country’s antitrust agency said the platform had admitted to violating anti-monopoly rules. Indonesia’s antitrust agency, known as KPPU, said in a statement Shopee had admitted to having violated anti-competition rules by directing customers to certain …

E-commerce firm Shopee to adjust services in Indonesia after antitrust violation Read More »

LIMA (Reuters) – Peru’s president met with Chinese electric vehicle maker BYD on Wednesday, inviting executives to set up shop on the Andean nation’s Pacific coast where another Chinese firm is building a massive port to facilitate trade between the two countries. President Dina Boluarte told the executives that if BYD were to build a …

Peru trying to lure BYD auto plant with industrial park incentive Read More »

By Libby George and Karin Strohecker LONDON (Reuters) – The debt crisis risk that has overshadowed the global economy for four years is beginning to recede, the Paris Club of rich creditor nations said in its 2023 annual report on Wednesday. A string of defaults, from Zambia to Sri Lanka, began in 2020 when the …

Wealthy nation creditor club sees tide shifting as debt defaults peter out Read More »

By Miho Uranaka and Sam Nussey TOKYO (Reuters) -Bain Capital-backed chipmaker Kioxia plans to submit a preliminary application to list shares on the Tokyo Stock Exchange in the coming days, two people familiar with the matter said. The chipmaker plans to submit a full application in August and list at the end of October, though …

Japan chipmaker Kioxia to file preliminary listing application, sources say Read More »

By Leika Kihara TOKYO (Reuters) – A rare unscheduled revision to Japan’s first-quarter gross domestic product (GDP) may lead to a sharp downgrade, possibly affecting the central bank’s growth forecasts and the timing of its next interest rate hike, some analysts say. The government said on Tuesday it will revise GDP figures for January-March to …

Sharp Japan GDP downgrade possible, affecting monetary policy, analysts say Read More »

By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) – Thailand’s economy is expected to grow at its potential rate by late this year or early in 2025, while the policy interest rate is neutral and not undermining the inflation target, central bank officials said on Wednesday. Shrugging off government calls for policy easing, the Bank …

Thai economy to grow at potential rate by early 2025, central bank says Read More »