Reuters Asia Business

(Reuters) -Singapore-based Sea delivered its first annual profit since the internet firm’s market debut in 2017, as strong growth in its e-commerce business helped the company post a smaller fourth-quarter loss than expected. Shares of U.S.-listed Sea rose more than 5% on Monday, after it also forecast 2024 would be another profitable year, compounding optimism …

Sea turns first annual profit as e-commerce strength fuels fourth quarter Read More »

By Hyunjoo Jin SAN FRANCISCO (Reuters) -Shares in Tesla fell more than 7% on Monday after its sales declined in February in China, where it faced rising competition and a slowdown during the Lunar New Year holidays. The sales data dimmed the outlook for Tesla’s global deliveries, at a time when the top EV maker …

Tesla shares skid after China sales fell in February Read More »

PARIS (Reuters) – Fashion brands with ultra-fast product turnover such as China’s Shein should be subject to penalties of up to 50% of their garments’ selling price to offset their environmental impact, French ruling-majority MPs have proposed in a new bill. The MPs say that ultra-fast fashion brands, rather than renewing their collections four times …

France mulls penalties to rein in ultra-fast fashion brands Read More »

BEIJING (Reuters) – China’s leading electric vehicle (EV) maker BYD on Monday launched a new version of its best-selling car at a price lower than the final price of its discontinued predecessor, as a price war rages in the world’s largest automobile market. BYD has already set lower launch prices for a slew of models …

China’s BYD prices new version of best-selling EV lower than predecessor Read More »

BEIJING (Reuters) -Chinese chip assembly and testing firm JCET Group said on Monday it plans to buy an 80% stake in a Shanghai flash memory facility owned by Western Digital Corporation for about $624 million in cash. SanDisk Semiconductor Shanghai makes products such as iNAND flash memory modules as well as SD and MicroSD components …

China’s JCET to buy stake in flash memory facility from Western Digital Read More »

By Xinghui Kok SINGAPORE (Reuters) – Singapore will raise the salary criteria for foreign executives and professionals that companies can hire starting next year, the government announced on Monday. From January next year, foreigners must earn S$5,600 ($4,170) or more a month – up from the current S$5,000 – to qualify for the so-called employment …

Singapore tightens rules for hiring foreign professionals Read More »

By Tetsushi Kajimoto TOKYO (Reuters) -Japan’s corporate spending on plant and equipment jumped in the fourth quarter, suggesting likely positive revisions to data that showed the economy unexpectedly tipping into recession last year. The solid capex data could also bolster the case for the central bank to normalise its extremely accommodative monetary policy in the …

Japan corporate capex jumps, likely swinging revised GDP to expansion Read More »

BANGKOK (Reuters) – Electric vehicle (EV) maker Tesla has conducted a site survey for a production facility for EVs and batteries in Thailand, an official from the prime minister’s office said on Monday. The Thai government has offered Tesla 100% green energy to run the facility, the official added. (Reporting by Devjyot Ghoshal and Panu …

Tesla has conducted site survey for Thailand EV facility, says government official Read More »