Reuters Asia Business

By Kane Wu and Yantoultra Ngui HONG KONG/SINGAPORE (Reuters) -Hillhouse and Japan’s Mitsui & Co have emerged as final bidders vying for Singapore-headquartered traditional Chinese medicine chain Eu Yan Sang International, in a deal that could fetch over $700 million, two people with knowledge of the matter said. Eu Yan Sang’s shareholders, led by Singapore-based …

Hillhouse, Mitsui vying for Singapore’s Eu Yan Sang in $700 million deal – sources Read More »

BERLIN (Reuters) – Luxury carmaker Porsche increased its deliveries by 3% in 2023, with 320,221 vehicles delivered worldwide, as growth in Europe and North America offset a challenging market in China, the company said on Friday. Deliveries increased by 12% year-on-year in Europe, excluding the home market Germany, which saw a 10% increase, Porsche said. …

Porsche increases 2023 deliveries despite China slump Read More »

By Clare Jim HONG KONG (Reuters) – Hong Kong’s property companies face a squeeze in 2024 from rising funding costs and sluggish home sales and office rentals, making creditors and investors cautious about developers’ financial health. Some of Hong Kong’s major banks have cut off fresh financing to the city’s highly leveraged or weak property …

Weak demand, tighter lenders: Hong Kong property developers face tough 2024 Read More »

(Reuters) – Foreign investors made hefty investments in Japanese stocks in 2023, buoyed by optimism around corporate governance reforms and a weaker yen against the dollar. Japanese stocks accumulated about 6.3 trillion yen ($43.39 billion) worth of foreign inflows on a net basis last year, the biggest amount since at least 2014, according to data …

Foreign flows into Japan stocks topped 6 trln yen in 2023 Read More »

BEIJING (Reuters) – China’s exports of rare earths in 2023 rose 7.3% from the prior year, customs data showed on Friday, boosted by competitive prices and growing overseas demand from electric vehicle makers and other high-tech sectors. The world’s largest producer of rare earths shipped 52,307 metric tons of the minerals abroad last year, the …

China’s rare earth exports hit 5-year high on demand from EV, high-tech sectors Read More »

BEIJING (Reuters) – China’s 2023 two-way trade with Russia hit $240 billion, setting yet another new record, Chinese customs data showed on Friday, as the two countries pushed for closer economic ties even as the war in Ukraine raged on. China, one of the world’s top oil consumers, has emerged as a major economic lifeline …

China-Russia 2023 trade value hits record high of $240 billion – Chinese customs Read More »

By Ariba Shahid Karachi (Reuters) -The International Monetary Fund’s board has approved a roughly $700 million loan for Pakistan under a $3 billion bailout, the fund and the finance ministry said on Thursday. The IMF’s completion of its first review of the programme and the board’s decision allows for an immediate disbursement of special drawing …

IMF board approves $700 million loan as part of Pakistan bailout Read More »

By Ismail Shakil and Steve Scherer OTTAWA (Reuters) -Canada’s Finance Minister Chrystia Freeland said on Thursday she met with Honda Motor representatives about locating a potential almost 2-trillion-yen ($13.7 billion) electric vehicle plant in the country. “I had a meeting with Honda and it’s a company that has been a very important investor in Canada,” …

Canada finance minister, Honda met on potential EV project Read More »