Reuters Asia Business

By Joe Cash, Ellen Zhang and Kevin Yao BEIJING (Reuters) – Chinese Premier Li Qiang’s vision for the country contains an inherent contradiction: his aim to “transform” the economic model may be incompatible with keeping growth rates steady at around 5%. In his maiden work report to China’s parliament on Tuesday, Li pledged to expand …

Analysis-Can China maintain growth and ‘transform’ its economy at the same time? Read More »

BEIJING (Reuters) -Chinese electric vehicle giant BYD on Wednesday added fuel to the flames of a brutal price war in China by cutting the price of its cheapest car, the Seagull, by 5%. Sticker tags for the Seagull, a compact car, will now start at 69,800 yuan ($9,700). BYD has become a relentless discounter in …

BYD deepens EV price war in China with latest cut for its cheapest car Read More »

BRUSSELS (Reuters) – The European Commission plans to start customs registration of Chinese electric vehicle (EV) imports, meaning they could be hit by tariffs from that point if the EU’s trade investigation later concludes that they are receiving unfair subsidies. The Commission is carrying out an anti-subsidy investigation into Chinese battery EVs to determine whether …

EU set to allow possible retroactive tariffs for Chinese EVs Read More »

(Reuters) – Australia’s fourth-biggest bank ANZ Group said on Wednesday it has agreed to sell a 16.5% stake in Malaysian lender AMMB Holdings for 3.85 ringgit ($0.8134) apiece through a block trade. The deal has been upsized to a 16.5% stake sale from 9% previously agreed on March 5, according to a term sheet seen …

Australia’s ANZ sells 16.5% interest in Malaysia’s AmBank Read More »

By Hari Kishan BENGALURU (Reuters) – Home prices in most major property markets will rise modestly this year and next, according to a Reuters poll of housing specialists, who expected the shortage of affordable homes to persist for at least another two to three years. The Feb. 15-March 4 survey of more than 100 experts …

Global home prices set for a gentle climb in a tight market: Reuters poll Read More »

By Hannah Lang, Amanda Cooper and Ankur Banerjee WASHINGTON/LONDON/SINGAPORE (Reuters) -Bitcoin soared to a new record high on Tuesday, fueled by investors pouring money into U.S. spot exchange-traded crypto products and the prospect that global interest rates may fall. The world’s largest cryptocurrency hit a high of $69,202, topping November 2021’s all-time peak of $68,999.99. …

Bitcoin rockets to record high as investors cheer ETFs, rate prospects Read More »

By David Shepardson and Michael Martina WASHINGTON (Reuters) -A bipartisan group of U.S. lawmakers introduced legislation on Tuesday that would give China’s ByteDance about six months to divest popular short video app TikTok or face a U.S. ban. Representative Mike Gallagher, the Republican chair of the House of Representatives’ select China committee and Representative Raja …

Lawmakers seek to force ByteDance to divest TikTok or face US ban Read More »

By Elizabeth Howcroft and Hannah Lang LONDON/NEW YORK (Reuters) – As Tether toasts $100 billion in circulation this week, the rapid rise of the world’s biggest stablecoin has highlighted concerns about potential risks to wider financial markets. The digital dollar-pegged token is designed to keep a constant value, something Tether says that it does by …

Analysis-Tether’s $100 billion stokes stablecoin stability concerns Read More »