Reuters Asia Business

TOKYO (Reuters) – The likelihood of inflation in Japan moving towards the Bank of Japan’s 2% target is steadily rising, the head of the country’s banking lobby said on Thursday. Masahiko Kato, chairman of the Japanese Bankers Association, did not comment on the likelihood of negative interest rates ending at the central bank’s two-day policy …

Japan bank lobby says likelihood of inflation reaching BOJ target rising Read More »

By Trixie Yap SINGAPORE (Reuters) – Singapore’s middle distillates stockpiles surged by 8% week on week to hit a fresh high since September 2021 as net exports of both diesel/gasoil and jet fuel/kerosene slipped by 98% and 26%, respectively, official data showed on Thursday. Inventories of gasoil/diesel and jet fuel/kerosene at key oil storage hub …

Singapore’s middle distillates stocks hit highest in 2-1/2 years as exports dip Read More »

By Josh Ye HONG KONG (Reuters) -China’s Tencent has taken over two ByteDance video games units after ByteDance retreated from the gaming business last year, according to a person familiar with the matter. The two teams Tencent has acquired involve one Shenzhen-based studio working on an action game and another East-China-based studio working on an …

China’s Tencent takes over two ByteDance video game teams – source Read More »

(Restores dropped ‘to’ in paragraph 2) By Naveen Thukral SINGAPORE (Reuters) -Chinese wheat importers have cancelled or postponed about one million metric tons of Australian wheat imports, trade sources with direct knowledge of the deals said, as growing world stockpiles drag down prices. The moves come after the U.S. government reported cancellation of more than …

Exclusive-Chinese buyers cancel or postpone Australian wheat buys amid global oversupply Read More »

By Sarah Wu and Eduardo Baptista BEIJING (Reuters) -Chinese electric vehicle maker Nio on Thursday signed an agreement with battery giant CATL on a partnership to develop batteries with a longer life as part of efforts to lower overall EV costs. The partnership will leverage battery technologies from each company seeking to lower the so-called …

China’s Nio and CATL partner on developing batteries with longer life Read More »

By Yantoultra Ngui SINGAPORE (Reuters) – Singaporean lender United Overseas Bank (UOB) is planning to double its private wealth assets under management over the next couple of years as it bets on increased wealth inflows into the city-state and Southeast Asia, a top executive said. Total assets under management (AUM) at UOB, Southeast Asia’s third …

Singaporean bank UOB aims to double private wealth assets by 2026 Read More »

By Yimou Lee and Faith Hung TAIPEI (Reuters) -Apple supplier Foxconn said on Thursday it expects revenue to increase significantly in 2024 following a slow start to the year amid booming demand for AI servers, after it posted fourth-quarter profit that beat market estimates. The outlook has turned rosier since Foxconn Chairman Young Liu said …

Apple supplier Foxconn sees strong 2024 as Q4 beats forecasts Read More »

NEW DELHI (Reuters) – India’s wholesale price index in February rose at a slower pace than in the previous month, mainly due a sharper fall in manufactured products and power prices, government data showed on Thursday. In February, wholesale prices rose 0.20% year-on-year, compared with a 0.27% gain in January. The latest figures were also …

India’s February wholesale prices rise 0.20% on year, pace slows Read More »