Reuters Asia Business

By Leika Kihara TOKYO (Reuters) – Japan’s Nippon Life Insurance on Tuesday announced guidelines for extending transition finance loans to steelmakers and utilities, which it hopes will serve as a benchmark for domestic lenders and businesses. The move underscores a push by Japan, which aims to achieve carbon-neutrality by 2050, to promote transition finance given …

Japan’s Nippon Life announces transition finance guidelines Read More »

(Reuters) -Singapore Airlines has sent compensation offers to passengers on a flight last month from London to Singapore that ran into severe turbulence, causing dozens of injuries and a death, the carrier said on Tuesday. Passengers with minor injuries have been offered $10,000, while those with serious injuries can discuss offers to meet specific needs, …

Singapore Airlines offers compensation for flight hit by turbulence Read More »

By Casey Hall SHANGHAI (Reuters) – An aggressive market grab by low-cost Chinese retailers has delivered bumper earnings for some firms but has also intensified a bruising price war, exacerbating deflationary fears in the world’s second-largest economy. From coffee to cars to clothes, China’s discount retailers have cut prices on just about everything as they …

Analysis-China’s discount wars risk cementing frugal consumer mindset Read More »

By Francesco Guarascio and Khanh Vu HANOI/HOA BINH, Vietnam (Reuters) – Lights are off and air conditioning is down at the headquarters of Vietnam’s state-run electricity provider EVN as the country’s top power utility tries to “lead by example” to avoid a repeat of last year’s crippling blackouts, an official tells visitors. But many businesses …

Analysis-Vietnam eyes greener power but banks on coal to avert blackouts Read More »

By Anisha Sircar and Divya Chowdhury BENGALURU (Reuters) – The Philippine central bank is sticking with its view that interest rates could be lowered as early as August despite an uptick in inflation last month, saying it was happy with where consumer prices were going. Speaking in the Reuters Global Markets Forum, Bangko Sentral ng …

Philippine cbank says Q3 interest rate cut still on table Read More »

By Sam Nussey and Miho Uranaka TOKYO (Reuters) – Japan startup Timee, which operates a platform connecting workers seeking side gigs with labour-strapped businesses, is targeting a listing in July in Tokyo, two people familiar with the matter said. The startup, founded in 2017, is aiming for a valuation of roughly $1 billion and the …

Exclusive-Japan spot work startup Timee targets July listing, sources say Read More »

HANOI (Reuters) – Foxconn will produce 5G AirScale equipment for Nokia at its factory in Vietnam’s northern province of Bac Giang, Vietnamese state media reported on Tuesday. Production is scheduled to begin in July, reported Dau Tu newspaper, which is run by the Ministry of Planning and Investment. Foxconn and Nokia didn’t immediately respond to …

Vietnam state media says Foxconn to make 5G equipment for Nokia in Vietnam Read More »

ISTANBUL (Reuters) – Turkey’s Dogan Trend Otomotiv is close to signing a memorandum with China’s SAIC Motor for a plant in Turkey to build combustion and hybrid-engined cars, CEO Kagan Dagtekin said on Monday in reply to questions from Reuters. Turkey plans to impose a 40% additional tariff on imports of vehicles from China, a …

Dogan Trend CEO says near deal with China’s SAIC on Turkey car plant Read More »

By Dave Sherwood and Nelson Acosta HAVANA (Reuters) – Russian tourist Serguei Boyaryshnic wandered in awe among the pastel-colored buildings and cobblestone streets of Old Havana on a weekday morning, his family in tow. “We had heard a lot about Cuba. Our countries have been friends for years,” said the 36-year-old Moscow resident, who had …

Cuba woos Russians, Chinese to revive ailing tourist sector Read More »