Reuters Asia Business

WASHINGTON (Reuters) – The United States is concerned about China’s ability to flood the electric vehicle market but U.S. incentives can increase the affordability of domestically-made EVs, the U.S. energy secretary said on Wednesday. “We are very concerned about China bigfooting our industry in the United States even as we’re building up now this incredible …

China’s ability to flood EV market concerning to US, energy secretary says Read More »

BENGALURU (Reuters) -China’s Antfin sold a 2.1% stake in Indian food delivery platform Zomato worth $341.5 million on Wednesday, stock exchange data showed. The stake sale comes amid tensions between Beijing and New Delhi over issues ranging from border disputes to India’s increasing scrutiny of Chinese businesses and investment. Antfin, which held a 6.42% stake …

China’s Antfin sells Zomato stake worth $341.5 million Read More »

By Bernadette Christina and Danial Azhar KUALA LUMPUR (Reuters) – Stagnating global palm oil production and higher biodiesel mandates are likely to curb supplies of the world’s most used vegetable oil this year, setting the stage for further gains in prices, which are trading at their highest in seven months. Palm oil output in Indonesia …

WRAPUP 1-Shrinking global palm oil supplies, strong biodiesel demand to boost prices Read More »

TOKYO (Reuters) – The rapid digitalisation of finance in Asia could pose new risks to financial system stability, Bank of Japan (BOJ) Governor Kazuo Ueda said on Wednesday, stressing the right balance is needed between the benefits and costs of financial innovation. Digital financial services have spread dramatically in the Asia-Pacific region as many people …

Asia’s rapid digitalisation may pose new financial risks, says BOJ chief Ueda Read More »

By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka is committed to repaying its debt within the 2027-2042 schedule, President Ranil Wickremesinghe said on Wednesday, adding that successful debt restructuring negotiations will bring annual external debt payments down to 4% of GDP. The island nation defaulted on its foreign debt in May 2022 after its economy ran into an …

Sri Lanka committed to repaying debt within 2027-2042 schedule, president says Read More »

(Corrects spelling in first bullet point to “Morgan Stanley’s”) By Selena Li and Xie Yu HONG KONG (Reuters) – Morgan Stanley has laid off about 9% of its staff at its asset management business unit in China, two people with direct knowledge of the matter said, as the country’s spiralling stock market dampens prospects for …

Morgan Stanley cuts 9% of China fund unit staff amid market rout, sources say Read More »