Reuters Asia Business

By Stefanno Sulaiman and Fransiska Nangoy JAKARTA (Reuters) -Indonesia’s February inflation rate beat forecasts on surging food prices, government data showed on Friday, but stayed within the central bank’s targeted range, reinforcing market views that any rate cuts will come only in the second half of 2024. The monthly inflation rate accelerated to 2.75%, compared …

Indonesia Feb inflation rate beats view on soaring rice, chilli prices Read More »

By Ellen Zhang and Joe Cash BEIJING (Reuters) -China’s manufacturing activity in February shrank for a fifth straight month, an official survey showed on Friday, raising pressure on Beijing to roll out more stimulus measures as the parliament prepares for a key annual meeting next week. The official manufacturing purchasing managers’ index (PMI), compiled by …

China’s factory activity shrinks for 5th month, raises pressure for more stimulus Read More »

BEIJING (Reuters) – Tesla unveiled new incentives, including insurance subsidies, on Friday to woo consumers in the world’s largest auto market, where the U.S. electric vehicle giant is in a protracted price war against entrenched rivals such as BYD. Pickups of existing inventories of Model 3 sedans and Model Y SUVs by the end of …

Tesla rolls out new incentives in China as price war escalates Read More »

By Liangping Gao and Ryan Woo BEIJING (Reuters) – New home prices in China are likely to fall this year due to limited effect of ongoing government support measures, a Reuters poll showed, with economists predicting the ailing market will need more than a year to bottom out. The poll, conducted Feb. 20-28, showed new …

China home prices likely to fall 0.9% this year; previous poll tipped growth: Reuters poll Read More »

BANGKOK (Reuters) – Interest rate cuts will not help to boost the economy much, the governor of the Bank of Thailand said in a pre-recorded interview that aired late on Thursday. Lowering rates may also not be good for household debt, said Sethaput Suthiwartnarueput, adding that there needed to be balance between growth and stability. …

Thai central bank chief: rate cuts will not help economy Read More »

By Francesca Landini MILAN (Reuters) – Italian energy contractor Saipem’s CEO said on Thursday it expects a 20% drop in average annual orders from Saudi Aramco to 2027 as a result of the state oil company’s decision to drop its capacity expansion plans. Saipem, which in 2020 signed a 12-year deal with Aramco for onshore …

Saipem expects Aramco orders to drop 20% after capacity target cut Read More »

By Summer Zhen HONG KONG (Reuters) – Only 62 new hedge funds launched in Asia last year, the lowest number since 2009 and just 15 were China-focused funds, data provider Preqin said. But Japan-focused funds more than doubled to 19. WHY IT’S IMPORTANT The figures underscore the shift away from China as the world’s second-largest …

Asia hedge fund launches drop to lowest number in 14 years as China interest wanes Read More »

By Anjana Anil (Reuters) – The Middle East conflict is unlikely to move the needle much in oil markets this year with ample global supplies reining prices in around the current $80 a barrel level, a Reuters poll showed on Thursday. A survey of 40 economists and analysts forecast Brent crude would average $81.13 per …

Ample supply to hold down oil prices as Middle East risks pale: Reuters poll Read More »