Reuters Asia Business

By David Lawder GUANGZHOU, China (Reuters) – U.S. Treasury Secretary Janet Yellen arrived in China’s southern factory hub of Guangzhou on Thursday with a tough message to Chinese officials: you’re producing too much of everything, especially clean energy goods, and the world can’t absorb it. China is unleashing a flood of electric vehicles (EVs), batteries, …

Yellen faces tough road on China’s vast overproduction problem Read More »

JAKARTA (Reuters) – Nvidia and Indonesia’s telco firm PT Indosat Ooredoo Hutchison plan to build an artificial intelligence centre in Central Java in 2024, worth $200 million, the communication minister said. Budi Arie Setiadi in a statement said the AI centre could consists of telecommunication infrastructure or a human resource centre and will be located …

Nvidia, Indosat plan $200 million AI centre investment in Indonesia, government says Read More »

(Reuters) – Foreign investors pulled more than a trillion yen out of Japanese stocks last week, as some stocks went ex-dividend and expectations of currency market intervention by the Bank of Japan led to profit booking after a recent rally. They offloaded a net 1.18 trillion yen worth of stocks during the week to March …

Japanese stocks see biggest weekly foreign outflow in six months Read More »

By Archishma Iyer (Reuters) – Investors raised short positions on emerging Asian currencies, with bearish bets on the Indonesian rupiah jumping sharply, as the U.S. dollar remained resilient amid uncertainty over the timeline of the Federal Reserve’s interest rate cuts, a Reuters poll showed on Thursday. Short positions on the Indonesian rupiah strengthened to their …

Asian FX bears firm as investors mull timeline of US rate cuts: Reuters poll Read More »

By Stefanno Sulaiman, Gayatri Suroyo and Ananda Teresia JAKARTA (Reuters) – Indonesia’s president-elect Prabowo Subianto will be prudent in fiscal management and uphold laws that limit public debt and annual budget deficits, the head of the biggest party backing Prabowo told Reuters on Thursday. Foreign investors have been monitoring details of the incoming government’s fiscal …

Indonesia’s Prabowo pledges fiscal prudence, eyes broader coalition, aide says Read More »

JAKARTA (Reuters) – Indonesia will manage its 2024 fiscal deficit so that it does not exceed 2.8% of GDP, but it will be wider than the previous estimate of 2.29% due to rising social assistance and fertiliser subsidies, a senior minister said on Thursday. The recent estimate is close to the country’s legally mandated annual …

Indonesia’s 2024 fiscal deficit will not exceed 2.8% of GDP, chief econ minister says Read More »

TOKYO (Reuters) -A group of Japanese firms have agreed to raise wages by 5.24% this year, the country’s largest union group Rengo said on Thursday.  The third announcement on the outcome of annual pay negotiations compared with the second survey of 5.25% and initial outcome of 5.28% last month, still the biggest rise since 1991 …

Japanese companies agreed on biggest wage hike in 33 years, union group says Read More »

By Leika Kihara TOKYO (Reuters) -The Bank of Japan cut its economic assessment for most regions on Thursday but signalled its confidence that wage hikes were broadening, leaving scope for another hike in the country’s still-low interest rates. In a quarterly report on regional economies, the central bank said there was hope that smaller firms …

Bank of Japan offers bleaker view on economy, flags upbeat wage signs Read More »

JAKARTA (Reuters) – Elon Musk’s SpaceX has applied to Indonesia’s government for an internet service provider permit for its Starlink satellite unit, the communications ministry said on Thursday. The application is a sign of Starlink’s expansion in Southeast Asia after Malaysia issued it a license to provide internet services in the country last year, and …

SpaceX applies for Indonesia internet service provider permit, government says Read More »