Reuters Asia Business

By Christoph Steitz and Christina Amann FRANKFURT/BERLIN (Reuters) – Volkswagen will develop low-cost electric vehicles in a bid to better compete with fierce Chinese rivals, Europe’s largest carmaker said on Tuesday, after talks with Renault to team up on the project collapsed earlier this month. The target is to produce electric vehicles for the European …

Volkswagen to develop low-cost electric car to tackle Chinese rivals Read More »

By Maximilian Heath BUENOS AIRES (Reuters) -Argentina is on track to start long-awaited corn shipments to China from July, the country’s grain export chamber told Reuters on Tuesday, which would be a major boost for the South American nation, the world’s no. 3 supplier of the grain. “Yesterday they confirmed to us that all the …

Exclusive-Argentina on track to start corn exports to China in July – grains chamber head Read More »

MOSCOW (Reuters) – Russian President Vladimir Putin rejected U.S. Treasury Secretary Janet Yellen’s concerns over the global economic fallout from China’s excess manufacturing capacity and overproduction of cars as wrong. Putin, a close ally of China, said that the market balances itself. Yellen and other Biden administration officials are growing increasingly concerned about China’s overproduction …

Russia’s Putin rejects U.S. assessment of China’s overproduction Read More »

JAKARTA (Reuters) – Indonesia’s antitrust agency on Tuesday accused e-commerce platform Shopee’s local unit of violating anti-competition rules by directing customers to use certain delivery services, news website Bisnis.com reported. The agency, known as KPPU, has found that Shopee from March 2021 stopped listing several delivery service providers it had previously used, leaving customers with …

Indonesia’s Shopee accused of antitrust behaviour in delivery services, Bisnis reports Read More »

KUALA LUMPUR (Reuters) -Malaysia is targeting at least 500 billion ringgit ($107 billion) in investment for its semiconductor industry, Prime Minister Anwar Ibrahim said on Tuesday, as the Southeast Asian country looks to boost its position in the global supply chain. Malaysia is a major player in the semiconductor industry, accounting for 13% of global …

Malaysia targets over $100 billion in semiconductor industry investment Read More »

By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka’s central bank held interest rates steady on Tuesday to ensure inflation pressures remain in check as authorities look to foster economic stability and lift growth following the South Asian nation’s worst financial crisis in decades. The Central Bank of Sri Lanka (CBSL) kept the Standing Deposit Facility Rate …

Sri Lanka holds rates to manage inflation, foster economic stability Read More »

By Yoshifumi Takemoto TOKYO (Reuters) – Japan’s government is expected to stick to its goal of achieving a primary budget surplus by the fiscal year-end in March 2026 in a key mid-year policy outline due out later next month, three sources with direct knowledge of the matter told Reuters. The government is aware of the …

Japan to stick to goal of reaching fiscal 2025 primary budget surplus, say sources Read More »