Reuters Asia Business

By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) – Thailand’s central bank left its key interest rate unchanged for a second straight meeting on Wednesday, as expected, resisting government pressure to reduce borrowing costs to help revive faltering growth. The Bank of Thailand’s (BOT) monetary policy committee in a 5-2 vote decided to hold the …

Thai central bank holds key rate as expected, as govt presses for cut Read More »

By Devayani Sathyan and Vuyani Ndaba BENGALURU/JOHANNESBURG (Reuters) – Most emerging market currencies will struggle to recoup this year’s losses against the dollar in coming months as expectations for aggressive rate cuts from the U.S. Federal Reserve diminish, a Reuters poll of FX strategists found. After ending 2023 on a positive note, the rally in …

Emerging market currencies to gain steadily in the near-term: Reuters poll Read More »

By Yuka Obayashi and Katya Golubkova TOKYO (Reuters) -Japan’s Nippon Steel Corp and U.S. Steel are pursuing regulatory approvals needed for their $15 billion deal to come together, Nippon Steel said on Wednesday, as it aims to close the acquisition in the coming months. The deal by Nippon Steel, the world’s No.4 steelmaker, to buy …

Nippon Steel pursues regulatory approvals for U.S. Steel acquisition Read More »

By Yantoultra Ngui SINGAPORE (Reuters) -DBS Group cut CEO Piyush Gupta’s pay by S$4.1 million ($3.05 million), penalising him for last year’s digital banking disruptions, even as Singapore’s largest lender posted a record 2023 profit and its fourth quarter earnings beat expectations. The pay cut marks a 30% reduction in annual variable compensation for Gupta, …

Singapore bank DBS cuts CEO pay on digital disruptions despite record profit Read More »

SHANGHAI/BEIJING (Reuters) – China’s stock exchanges are restricting share selling by some hedge funds, four fund managers and a broker said, in the latest attempt to stabilise a market that has slumped to five-year lows. Authorities have put in place several measures to support the languishing stock market – including restrictions on net selling by …

China’s exchanges restrict stock selling by some hedge funds Read More »

(Reuters) – Neumann Kaffee Gruppe (NKG), the global coffee company controlled by Neumann Gruppe GmbH, on Tuesday said it will expand operations in Indonesia with a new business targeting green coffee imports, storage and distribution in the country. Hamburg-based NKG said it will open integrated warehouses, a cupping lab and an import office in Jakarta …

Neumann Kaffee to expand in Indonesia as coffee market grows Read More »

(Reuters) -Toyota said on Tuesday it would invest $1.3 billion at its Kentucky facility for electrification efforts, including assembly of a new, three-row battery electric SUV for the U.S. market. The project brings the plant’s total investment to nearly $10 billion. The move comes at a time when legacy automakers such as Ford have pulled …

Toyota to invest $1.3 billion in Kentucky facility for new electric SUV Read More »

By Asif Shahzad ISLAMABAD (Reuters) -Pakistan’s caretaker cabinet approved a privatisation plan for loss-making Pakistan International Airlines on Tuesday, days after the country’s election panel directed it to refrain from making any final deal. The cabinet’s approval is a crucial pre-requisite to taking the airline to market for a sale, which the election panel said …

Pakistan approves plan to sell PIA airline on eve of election Read More »

By David Shepardson WASHINGTON (Reuters) -Honda Motor Co said on Tuesday it was recalling 750,000 vehicles in the United States over a defect involving air bags which could deploy unintentionally during a crash. The front passenger seat weight sensor may crack and short circuit, failing to suppress the air bag as intended, the National Highway …

Honda recalls 750,000 US vehicles over air bag defect Read More »