Reuters Asia Business

By Makiko Yamazaki and Yoshifumi Takemoto TOKYO (Reuters) – Japan on Friday affirmed its pledge to deliver a primary budget surplus by the next fiscal year, reflecting concerns that its exit from the ultra low interest rate environment could boost government debt burden. The renewed commitment to the target was included in Japan’s annual economic …

Japan vows to bring primary budget to surplus next fiscal year Read More »

By Xihao Jiang, Nicoco Chan and Mei Mei Chu JINAN, China (Reuters) – After weeks of scorching heat and little rain, farmer Zhang Yunjing had no choice but to collect water from a wastewater pipe to irrigate her parched corn field in China’s eastern Shandong province. Zhang would normally use water from a nearby river …

Severe drought forces corn farmers in China’s east to delay planting Read More »

By Maria Martinez BEIJING (Reuters) – Economy Minister Robert Habeck will underline Germany’s resolve to pursue commercial links with China during a visit starting Friday but trade experts say economic and political factors all increasingly favour the U.S.-German relationship. Habeck will be seeking to explain to Chinese officials the European Union’s recent announcement of tariffs …

German trade focus could pivot from China to US Read More »

By Winni Zhou and Ankur Banerjee SHANGHAI/SINGAPORE (Reuters) – A sliding yuan and extensive outflows of cash from the mainland into Hong Kong show China’s domestic investors are shelving expectations for any immediate recovery in their home markets and fleeing to the closest better-yielding assets. The yuan has dropped to seven-month lows this week, alongside …

Analysis-Cash is leaving China again, pressuring yuan Read More »

By Devjyot Ghoshal BANGKOK (Reuters) – Electric vehicle sales are surging in Southeast Asia, led by China’s BYD and Vietnam’s VinFast, eating into the internal combustion engine car market dominated by Japanese and Korean firms, Counterpoint Research said on Friday. EV sales in the region more than doubled in the January to March quarter from …

Chinese automakers retain grip over Southeast Asia’s booming electric car market Read More »

By David Shepardson WASHINGTON (Reuters) -Toyota Motor said on Thursday it has suspended production and delivery of the Grand Highlander and Lexus TX sport utility vehicles until it can address an air bag issue. The automaker said earlier that it was recalling 145,000 2024 model year Toyota Grand Highlander and Lexus TX vehicles in the …

Toyota suspends deliveries of Grand Highlander, Lexus TX SUVs over air bag issue Read More »

WASHINGTON (Reuters) – The U.S. Treasury on Thursday said no major trading partner appeared to manipulate its currency last year, but it added Japan to a foreign exchange “monitoring list,” alongside China, Vietnam, Taiwan, Malaysia, Singapore and Germany, which were on the previous list. The Treasury’s semi-annual currency report also found that no major trading …

U.S. finds no currency manipulation in 2023, Japan added to monitoring list Read More »

By David Shepardson WASHINGTON (Reuters) -TikTok and Chinese parent ByteDance on Thursday urged a U.S. court to strike down a law they say will ban the popular short video app in the United States on Jan. 19, saying the U.S. government refused to engage in any serious settlement talks after 2022. Legislation signed in April …

TikTok says US ban is inevitable without a court order blocking law Read More »

By Andrew Silver SHANGHAI (Reuters) – India’s Biocon is searching for a partner in China to test generic versions of Novo Nordisk’s hot-selling diabetes drug Ozempic and weight loss treatment Wegovy, a senior executive told Reuters. Biocon, which aims to eventually launch generic versions of the injectible drugs globally, wants to find a Chinese partner …

India’s Biocon seeks partner to test generic Wegovy, Ozempic in China Read More »