Reuters Asia Business

ISLAMABAD (Reuters) -Pakistan will push back the deadline for companies to express interest in buying national carrier Pakistan International Airlines to May 18, the country’s privatisation minister said on Thursday. The extension, announced in a statement by Minister for Investment and Privatisation Abdul Aleem Khan, came a day before the expressions of interest had originally …

Pakistan pushes back deadline for expressions of interest to buy national airline Read More »

PARIS (Reuters) – One of the Societe Generale traders let go by the French bank late last year after it uncovered a series of unauthorised bets has criticised his former bosses, saying they were at fault for failing to identify the trades. Kavish Kataria, a former vice president at SocGen in Hong Kong, said on …

Fired SocGen trader hits back at bosses for unauthorised bets Read More »

By David Shepardson WASHINGTON (Reuters) – The Federal Communications Commission (FCC) said on Thursday nearly 40% of U.S. telecom companies getting federal support need additional government funding to remove equipment made by Chinese telecoms firms Huawei and ZTE from American wireless networks to address security risks. The FCC said removing the equipment is estimated to …

More funds needed for US telecoms to remove Chinese equipment, says FCC Read More »

By Summer Zhen HONG KONG (Reuters) – Hong Kong’s securities regulator started an insider dealing prosecution against hedge fund Segantii Capital Management, its founder and a former trader, the watchdog said on Thursday. The Hong Kong Securities and Futures Commission (SFC) said it had started criminal proceedings against Segantii, its founder and chief investment officer …

Hong Kong regulator brings insider trading charges against Segantii and its founder Read More »

By Noah Browning LONDON (Reuters) – India’s Reliance has made its first foray into trading a type of U.S. crude oil that underpins the global Brent benchmark in a process run by oil-index publisher S&P Global Commodity Insights, the publisher said. Reliance Industries, operator of the world’s biggest refining complex, on Wednesday offered a cargo …

India’s Reliance starts trading US oil setting Brent oil benchmark Read More »

By Himanshi Akhand (Reuters) – Short bets on most Asian currencies firmed to touch multi-month highs as growing expectations of U.S. interest rates staying higher for longer dampened appetite for riskier assets, a Reuters poll showed on Thursday. Bearish positions on the South Korean won, the Singapore dollar, the Philippine peso and the Thai baht …

Bearish bets on most Asian FX climb to multi-month highs: Reuters poll Read More »

By Lawrence White and Selena Li LONDON/HONG KONG (Reuters) -Standard Chartered PLC beat forecasts on Thursday with a 5.5% rise in first-quarter pretax profit, as a surge in income from its trading and wealth businesses more than compensated for additional credit losses. The bank, which makes the bulk of its revenue and profits in Asia, …

StanChart profit beats forecasts as fee income boost offsets credit losses Read More »

By Leika Kihara TOKYO (Reuters) – Japan will likely keep intervening to prop up the yen until the risk of speculators triggering a free fall in the currency has been eliminated, said a former central bank official who was involved in Tokyo’s market forays a decade ago. The yen jumped on Thursday on what traders …

Ex-BOJ official predicts Japan will keep intervening to prevent yen free-fall Read More »