Reuters Asia Business

BEIJING/HONG KONG (Reuters) – China has fined China Evergrande’s onshore flagship unit 4.18 billion yuan ($577 million) for fraudulent bond issuance and illegal information disclosure, the China Securities Regulatory Commission (CSRC) said on Friday. The regulator also fined Evergrande founder Hui Ka Yan 47 million yuan and barred him from the securities market for life, …

China fines Evergrande’s Hengda $577 million for fraudulent bond issuance Read More »

By Asif Shahzad ISLAMABAD (Reuters) – Pakistan will present its annual budget three days later then expected on June 10, two government sources said on Friday, as markets waited for details of the plans seen as crucial to securing a new International Monetary Fund (IMF) loan. The sources said the timing had been changed as …

Pakistan to release key budget later than expected after China visit Read More »

TOKYO (Reuters) -Japan’s cryptocurrency exchange DMM Bitcoin said on Friday that it had lost 4,502.9 bitcoin, worth about 48.2 billion yen or $308 million, in what the company called an “unauthorised leak”. It gave no details of how the incident occurred or whether an outside party had been involved, but said it was investigating and …

Japan’s DMM Bitcoin says over $300 million of cryptocurrency lost Read More »

YOKOHAMA, Japan (Reuters) – Nissan Motor paid former Chief Operating Officer Ashwani Gupta $3.7 million in compensation following his sudden departure last year, the Japanese automaker disclosed in a notice for its annual general meeting. Nissan said in the notice it had paid 582 million yen ($3.7 million) to an executive officer who left his …

Nissan paid ex-operations chief $3.7 million over departure Read More »

BANGKOK (Reuters) -Thailand’s economy is expected to expand faster in the second quarter as growth quickened in April due to stronger tourism, domestic demand and exports, the central bank said on Friday. Economic activity in May remained supported by tourism, while a recovery in exports and industrial manufacturing as well as government spending would need …

Thai economy quickens in April, growth seen faster in Q2, central bank says Read More »

TAIPEI (Reuters) – Taiwan’s central bank said on Friday that it will take “timely” steps to ensure financial stability against a backdrop of uncertainty about the pace of monetary policy adjustments globally, geopolitical and climate change risks. In a financial stability report, the central bank pointed to uncertainties like downside risk for the economy in …

Taiwan central bank says it will ensure stability in uncertain times Read More »

By Hari Kishan BENGALURU (Reuters) – Major economies grappling with housing crises will struggle to crank up the supply of affordable homes in coming years, according to a Reuters poll of property analysts who said more government intervention was needed to improve the situation. House prices in most major property markets were forecast to rise …

Affordable housing to stay out of reach in major economies due to lack of supply: Reuters poll Read More »

HONG KONG (Reuters) -China will reinstate tariffs next month on 134 items it imports from Taiwan, after the Ministry of Finance said it would suspend concessions on the items under a trade deal because Taiwan had not reciprocated. China, which claims democratically governed Taiwan as its own territory, has been ramping up its economic, political …

China suspends tariff concessions on 134 items under Taiwan trade deal Read More »

MANILA (Reuters) – Vietnamese electric vehicle maker VinFast is opening six dealerships to sell cars, e-scooters and e-bikes in the Philippines, its newest market in Southeast Asia, a company executive said on Friday.  “We come to the Philippine market with good quality product and accessible price,” VinFast Philippines CEO Nguyen Thi Minh Ngoc told reporters …

Vietnam’s Vinfast plans six dealerships in Philippine foray Read More »

SEOUL (Reuters) – South Korea’s national pension fund will continue to raise the ratio of risky assets and increase alternative investments, the welfare ministry said on Friday. The ministry announced this in a statement after an annual review of five-year portfolio management plans, at which it kept target ratios for each asset class and target …

S.Korea pension fund to raise investment in risky, alternative assets Read More »