Reuters Asia Business

By Sophie Yu and Casey Hall BEIJING (Reuters) -Domestic travellers spent 166.9 billion yuan ($23.13 billion) during one of China’s longest breaks, the May Day holiday, a rise of 13.5% from pre-pandemic levels, government data showed on Monday, but expenditure per head lagged 2019 rates. Boosting consumer confidence has presented a key challenge for Chinese …

China May Day holiday spending shows mixed picture on post-COVID recovery Read More »

BEIJING (Reuters) – China’s average daily home sales during the major May Day public holiday sank 47% from a year earlier, and were down around 30% from pre-pandemic levels in 2019 for the same holiday period, according to a private survey on Monday. Home sales fell in 19 of 22 surveyed cities during the five-day …

China home sales slump 47% over May Day holiday vs 2023 Read More »

By Stefanno Sulaiman and Gayatri Suroyo JAKARTA (Reuters) -Indonesia’s economic growth in the first quarter beat expectations, buoyed by high public spending for the country’s elections, but maintaining the strong pace will be challenging due to global developments and tight local monetary conditions. Southeast Asia’s largest economy grew by 5.11% on a yearly basis in …

Indonesia’s Q1 GDP growth beats forecasts, but outlook’s uncertain Read More »

PARIS (Reuters) -French government efforts to slow an influx of Chinese-made electric vehicles are bearing fruit, industry data show, highlighting one of the most sensitive trade issues when China’s president visits next week. A surge in imports of Chinese electric cars into Europe has triggered EU tariff threats, which are expected to be a bone …

Ahead of Xi visit, Chinese share of French EV market slumps Read More »

By Jessie Pang and Joyce Zhou HONG KONG (Reuters) – Cost-conscious Chinese tourists have replaced many of the cash-rich mainland travellers who once flocked to Hong Kong, with some only interested in free walking tours of the city and staying across the border in Shenzhen overnight to save money. During China’s Labour Day holiday last …

Low-budget Chinese travellers highlight shift in Hong Kong tourism Read More »

By Emma Rumney LONDON (Reuters) – High Chinese tariffs on EU brandy would leave French companies with vast amounts of cognac that could be hard to sell elsewhere, according to Reuters’ calculations, analysts, and investors who fear firms could be forced to discount. China opened an anti-dumping investigation into brandy imported from the European Union …

Chinese tariffs could leave cognac makers with too much brandy Read More »

By Ariba Shahid KARACHI (Reuters) – An International Monetary Fund mission is expected to visit Pakistan this month to discuss a new programme, the lender said on Sunday ahead of Islamabad beginning its annual budget-making process for the next financial year. Pakistan last month completed a short-term $3 billion programme, which helped stave off sovereign …

IMF says its mission will visit Pakistan this month to discuss new loan Read More »

By Jonathan Stempel OMAHA, Neb. (Reuters) – The new chief executive of Brooks Running said the running shoe maker owned by Warren Buffett’s Berkshire Hathaway views China and Europe as growth areas for a business that generates most revenue in the U.S. Dan Sheridan, who became chief executive on April 26, said in an interview …

Berkshire’s Brooks Running CEO sees China, Europe as growth areas Read More »