Reuters Asia Business

Thailand’s Central Group wants to acquire Signa retail assets, report says

30 Mar 2024

(Reuters) – Thai retailer Central Group wants to take over some real estate assets from insolvent Austrian property company Signa, including KaDeWe in Germany and Selfridges in London, Business Insider reported on Saturday. Central Group is interested in Signa’s entire luxury group, which also includes Alsterhaus in Hamburg, Oberpollinger in Munich, and Globus in Switzerland, …

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Japan, EU to discuss cooperation on tech materials to cut reliance on China, Nikkei says

30 Mar 2024

TOKYO (Reuters) – Japan and the European Union plan to start talks about cooperating on advanced materials for next-generation chips and batteries to reduce their reliance on China, the Nikkei reported on Saturday. Iliana Ivanova, EU commissioner for innovation and research, told the business daily in a written interview that establishing such a dialogue framework …

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China developer Wanda sells 60% of mall unit in $8.3 billion deal

30 Mar 2024

HONG KONG (Reuters) – A group of investors led by private equity firm PAG on Saturday announced an investment of $8.3 billion for a 60% stake in Chinese property giant Dalian Wanda’s mall unit. Dalian Wanda will retain 40% in Newland Commercial Management, the holding company of Zhuhai Wanda Commercial Management Group Co, the statement …

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Huawei says Chery’s Luxeed S7 premium EV starts mass delivery

30 Mar 2024

BEIJING (Reuters) – The Luxeed S7 electric sedan, developed by Chinese tech giant Huawei and Chery Auto, has started mass delivery after a shortage of semiconductors and production issues delayed production and delivery, a Huawei executive said on Saturday. “A large number of Luxeed S7 vehicles have already rolled off the production line and are …

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U.S. updates export curbs on AI chips and tools to China

30 Mar 2024

WASHINGTON (Reuters) -The Biden administration on Friday revised rules aimed at making it harder for China to access U.S. artificial intelligence (AI) chips and chipmaking tools, part of an effort to hobble Beijing’s chipmaking industry over national security concerns. The rules, released in October, seek to halt shipments to China of more advanced AI chips …

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US, Japan to call for deeper cooperation in AI, semiconductors, Asahi says

30 Mar 2024

TOKYO (Reuters) – Japan and the U.S. will announce closer cooperation in high-tech areas such as artificial intelligence (AI) in a joint statement when Prime Minister Fumio Kishida meets with President Joe Biden next month, the Asahi Shimbun newspaper said on Saturday. Biden is set to host Kishida for an official visit to the U.S. …

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US-funded Radio Free Asia shuts Hong Kong bureau, citing security law concerns

29 Mar 2024

By James Pomfret HONG KONG (Reuters) -U.S.-funded Radio Free Asia said on Friday it had closed its Hong Kong bureau citing concerns over staff safety after the enactment of a new national security law known as Article 23 in the China-ruled city. “Actions by Hong Kong authorities, including referring to RFA as a ‘foreign force’, …

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Panasonic to sell autos business to Apollo Global-managed funds

29 Mar 2024

TOKYO (Reuters) -Japan’s Panasonic Holdings said on Friday it will sell its entire stake in Panasonic Automotive Systems (PAS) to funds managed by U.S. private equity firm Apollo Global Management, and then make an investment in the new holding entity. The transaction has a total enterprise value of 311 billion yen ($2.06 billion), subject to …

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Pakistan inflation to hover at 22.5-23.5% in March, government says

29 Mar 2024

KARACHI (Reuters) -Inflation in Pakistan is expected to hover between 22.5% and 23.5% in March and to further ease in April, the finance ministry said on Friday in its monthly economic update. The $350 billion South Asian economy has been struggling with high inflation and stunted growth for over a year, and in 2023 narrowly …

Pakistan inflation to hover at 22.5-23.5% in March, government says Read More »

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