Reuters Asia Business

Exclusive-Xiaomi says India’s scrutiny of Chinese firms unnerves suppliers

12 Feb 2024

By Aditya Kalra and Munsif Vengattil NEW DELHI (Reuters) -China’s Xiaomi has told the Indian government that its heavy scrutiny of Chinese companies has made smartphone component suppliers wary about setting up operations in India, according to a letter and a source with direct knowledge of the matter. Xiaomi, which has the biggest share in …

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Oasis says it opposes Taisho Pharma’s $5 billion management buyout

12 Feb 2024

By Makiko Yamazaki TOKYO (Reuters) – Oasis Management, a Hong Kong-based activist fund, said it is opposed to Taisho Pharmaceutical’s $5 billion management buyout as it believes the acquisition price was too low. The Japanese firm’s founding family gained 73% of the company in a tender offer last month for 8,620 yen per share – …

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Analysis-China, Indonesia face deeper output cuts to tackle nickel price slide

12 Feb 2024

By Clara Denina and Pratima Desai LONDON (Reuters) – China and Indonesia are set to reduce nickel output by at least 100,000 metric tons this year as producers seek to limit losses following a slump in the price of the metal used in stainless steel manufacture and for EVs, traders and analysts said. They added …

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Thailand to create asset management firm to tackle soaring household debt

12 Feb 2024

BANGKOK (Reuters) -Thailand will establish an asset management firm in the first quarter of this year to help resolve its stubborn problem of high household debt worth $452 billion, the prime minister said on Monday. Household debt management had many challenges as some creditors refused to enter the process, Srettha Thavisin told a press briefing …

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Indonesia names two Chinese nationals suspects over nickel smelter fire

12 Feb 2024

JAKARTA (Reuters) -Indonesia police said on Monday two Chinese nationals had been named as suspects in an investigation into the cause of a nickel smelter fire on Sulawesi island last year that killed 21 people. The Southeast Asian country, which is the world’s biggest nickel producer, has suffered a number of fatal incidents in recent …

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European Commission to open investigation into TikTok -Bloomberg News

10 Feb 2024

(Reuters) -The European Commission will open an investigation into TikTok in the coming weeks over concerns that changes the firm made to comply with the bloc’s Digital Services Act (DSA) were not enough to protect under-age users, Bloomberg News reported on Friday. TikTok has not received notice from the European Commission of an investigation and …

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Exclusive-Nvidia pursues $30 billion custom chip opportunity with new unit -sources

10 Feb 2024

By Max A. Cherney and Stephen Nellis SAN FRANCISCO (Reuters) -Nvidia is building a new business unit focused on designing bespoke chips for cloud computing firms and others, including advanced artificial intelligence (AI) processors, nine sources familiar with its plans told Reuters. The dominant global designer and supplier of AI chips aims to capture a …

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Exclusive-Renault, Geely expect to finalise engines tie-up this month – sources

9 Feb 2024

By Gilles Guillaume PARIS (Reuters) -French carmaker Renault and Chinese rival Geely expect to finalise a joint venture for their combustion and hybrid engines towards the end of February, two sources close to the matter told Reuters. At the same time, Saudi Aramco is set to announce the signing of a memorandum of understanding to …

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