Reuters Asia Business

SHANGHAI (Reuters) – China’s securities watchdog does not expect a near-term spike in delistings, it said on Thursday, after investors dumped shares in small-cap companies on fears they could be kicked off the market as Beijing weeds out weaker firms. The “survival of the fittest” mechanism is gradually taking shape but in the short term, …

China securities regulator seeks to ease market panic over delisting risks Read More »

ST PETERSBURG (Reuters) -Russian bank VTB is aiming to eliminate the long queues of customers at its branch in China by the end of summer, CEO Andrei Kostin said on Thursday, with a plan to hire more staff and increase floor space. Companies flocking to the VTB branch in China, the only Russian bank in …

Russia’s VTB aiming to cut queues at China branch by end-summer, says CEO Read More »

(Reuters) – Melexis will provide Chinese car manufacturer NIO with current sensor chips for its traction inverter system, it said on Thursday, becoming the latest European supplier to partner with a Chinese automaker. Melexis’ shares were 2.7% higher at 85.1 euros by 1408 GMT following the announcement. The Belgian semiconductor supplier said its chips, needed …

Melexis to produce all of NIO’s current chips for traction inverters Read More »

By Mariko Katsumura MEIWA, Japan (Reuters) – When Costco Wholesale opened its warehouse in a rural Japanese town not far from Tokyo last year offering hundreds of jobs at eye-popping pay, a nearby noodle shop chain took a drastic step: it hiked hourly wages by a third. It was an almost unthinkable decision for Yamada-udon, …

Costco’s Japan wages provide pathway to firing up nation’s low pay, economy Read More »

By Casey Hall SHANGHAI (Reuters) -China’s leading food delivery group Meituan on Thursday reported a bigger-than-expected 25% rise in quarterly revenue, defying a slowing Chinese economy. Meituan, which operates an app providing services as varied as bike-sharing, ticket-booking and maps, reported revenue in the three months to March 31 of 73.3 billion yuan ($10.11 billion), …

Chinese food delivery leader Meituan revenue up 25%, beats estimates Read More »

BEIJING (Reuters) -China never makes use of subsidies for electric vehicles that have been prohibited by the World Trade Organization, a spokesperson for its foreign ministry said on Thursday. Chinese companies are producing waves of low-priced EVs that some worry could harm big U.S. automakers, some of which have focused recently on big gasoline-powered sports …

China says it never uses EV subsidies barred by WTO Read More »

By Gaurav Dogra (Reuters) – Emerging Asian equity markets faced a second month of foreign outflows in May as robust U.S. economic data fuelled skepticism over Federal Reserve rate cuts. Data from stock exchanges in India, Indonesia, Vietnam, Thailand, South Korea, the Philippines, and Taiwan revealed that overseas investors withdrew a net $3.58 billion out …

Asian stocks see foreign outflows in May, India leads net selling Read More »

BANGKOK (Reuters) – Thai banks are expected to announce financial products that will support a transition to green business in the third quarter of this year, a deputy central bank governor said on Thursday. The central bank, however, has not set loan targets for banks, Ronadol Numnonda said at a business seminar. Thailand needs more …

Thai banks to announce products for green business transition in Q3, central bank says Read More »