Reuters Asia Business

(Reuters) – China’s Baidu beat analysts’ estimates for first-quarter revenue on Thursday, driven by a recovery in advertising sales and higher demand for its cloud products. The company reported revenue of 31.51 billion yuan ($4.37 billion) for the three months ended March 31, compared to analysts’ average estimate of 31.21 billion yuan as per LSEG …

China’s Baidu beats quarterly revenue estimates on ad recovery, cloud demand Read More »

By Liangping Gao and Clare Jim BEIJING/HONG KONG (Reuters) – A campaign by Chinese authorities to encourage people to replace their old apartments with new ones is attracting interest, but faces one major hurdle: the participants in the scheme are struggling to sell their current homes. Flagged at a key political meeting last month, the …

Swap old for new: China’s latest property market plan off to a poor start Read More »

By Devjyot Ghoshal BANGKOK (Reuters) – Toyota Motor is testing the new battery-electric Hilux pickup truck to assess its performance in different conditions as the car maker prepares to manufacture the vehicle in Thailand by the end of 2025, an executive said on Thursday. Pickup trucks make up more than half of total vehicle sales …

Toyota tests new EV pickup truck ahead of mass production in Thailand Read More »

BEIJING (Reuters) – China said on Thursday that U.S. and European assertions of excess capacity were “naked trade protectionism” and that efforts to constrain new energy exports from the World’s No.2 economy would frustrate global efforts to tackle climate change. Growing alarm over Chinese industrial overcapacity flooding the European Union with cheap products is opening …

Chinese overcapacity claims by US, Europe are ‘trade protectionism’, ministry says Read More »

TOKYO (Reuters) -Japan’s Honda Motor pledged to double its electrification and software investment to about $65 billion over the 10 years running through the 2030 business year, it said on Thursday. Honda CEO Toshihiro Mibe told a press conference the automaker planned to spend a total of 10 trillion yen ($64.88 billion) on electrification and …

Japan’s Honda raises electrification investment to $65 billion through FY2030 Read More »

By Sudarshan Varadhan BANGKOK (Reuters) – Indonesia expects investments in its oil and gas sector to rise 29% in 2024, the chairman of regulator SKK Migas told Reuters, as it races to ramp up drilling and exploration following the recent exits of global giants Shell and Chevron. An immediate push in oil and gas investments …

Indonesia expects oil and gas investments to rise 29% to $17 billion in 2024 Read More »

By Sam Nussey TOKYO (Reuters) – Japan’s Toshiba said on Thursday it will cut up to 4,000 jobs domestically as the industrial conglomerate accelerates restructuring under new ownership. Toshiba delisted in December due to a $13 billion takeover by a consortium led by private equity firm Japan Industrial Partners (JIP), capping a decade of scandal …

Newly privatised Toshiba to cut 4,000 jobs in restructuring drive Read More »

TOKYO (Reuters) -Japan’s top power utility JERA plans to invest 5 trillion yen ($32.4 billion) over the coming decade into renewable energy and new fuels such as hydrogen and ammonia, as well as liquefied natural gas (LNG), global CEO Yukio Kani told reporters on Thursday. By fiscal year 2035, JERA is targeting over 35 million …

Japan’s JERA to invest $32 billion in LNG, renewables and new fuels over decade Read More »

By David Shepardson WASHINGTON (Reuters) -U.S. Commerce Secretary Gina Raimondo said on Wednesday that her department plans to issue proposed rules on Chinese connected vehicles this autumn, citing national security risks to the data of Americans. Raimondo said last week the United States could take “extreme action” and ban Chinese connected vehicles or impose restrictions …

US to issue rules on Chinese connected vehicles this autumn Read More »