Reuters Asia Business

By Joe Cash BEIJING (Reuters) – China’s Commerce Minister Wang Wentao expressed concern over U.S. curbs preventing third countries from exporting lithography machines to China during a phone call with U.S. Commerce Secretary Gina Raimondo on Thursday, his ministry said. Washington has used export controls to cut off China’s access to advanced chips and chip-making …

China raises concerns with US over chip-making export controls, sanctions Read More »

BEIJING (Reuters) -Beijing startup Orienspace on Thursday successfully launched the most powerful rocket developed by the Chinese private sector, paving the way for more commercial launches – a realm traditionally dominated by the country’s state agencies. The Gravity-1 rocket blasted off from a ship off the coast of eastern Shandong province and delivered three remote-sensing …

Orienspace launches most powerful rocket by private Chinese firm Read More »

TOKYO (Reuters) – Japan’s Fast Retailing Co, owner of clothing brand Uniqlo, posted a 25% jump in first quarter operating profit on Thursday fuelled by strong overseas sales as it charts a third-straight year of record earnings. Profit was 146.7 billion yen ($1.01 billion) in the three months through November compared with 117.1 billion yen …

Uniqlo owner Fast Retailing Q1 profit soars on strong overseas sales Read More »

JAKARTA (Reuters) – Indonesia has assigned its state food procurement firms Bulog and IDFood to procure 120,000 metric tons of meat from Brazil and India this year, the National Food Agency (NFA) said on Thursday. Bulog was alloted an import quota of 100,000 tons of water buffalo meat from India while IDFood was assigned to …

Indonesia to import meat from Brazil and India in 2024 Read More »

By Leika Kihara TOKYO (Reuters) -Japan’s wage hike momentum is building up earlier this year than in 2023 but the outlook remains uncertain, the central bank said on Thursday, highlighting its cautious optimism over prospects for sustainably achieving its 2% inflation target. The assessment, made in a quarterly report on regional economies, will be one …

BOJ cautiously upbeat on wage outlook, eyes on January meeting Read More »

GANDHINAGAR, India (Reuters) -Japan’s Toyota Motor is set to launch in a couple of years vehicles with solid-state batteries that charge faster and last longer, a top official from its Indian unit said on Thursday. Solid-state batteries promise to dramatically improve the driving range of electric vehicles (EVs), a key element of a strategic pivot …

Toyota to roll out solid-state battery EVs in a couple of years, India executive says Read More »

By Abhirup Roy and Heekyong Yang LAS VEGAS (Reuters) – South Korea’s SK On plans to start mass producing lithium iron phosphate (LFP) batteries as early as 2026 to supply several automakers as it pushes to deliver a lower cost battery chemistry favoured by its Chinese rivals, a senior executive said. The company is in …

Exclusive-SK On may start mass producing LFP batteries for automakers in 2026 – executive Read More »

TOKYO (Reuters) -Japan’s Nikkei share average scaled its highest levels since February 1990 on Thursday, as a weaker yen buoyed exporters and caution over an impending hike by the Bank of Japan continued to fade on the back of weak wage data. The Nikkei rose 1.77% on its third straight day of gains this week, …

Japan’s Nikkei breaks 35,000 for first time in nearly 34 years Read More »

By Naomi Rovnick LONDON (Reuters) – Big investors are tearing up market playbooks for 2024 based on timing an expected recession and interest rate cuts, as the world economy proves surprisingly resilient. They are turning lukewarm on government bonds and away from big tech shares to bargain-hunt for stocks in sectors long hit by fears …

Analysis-Investors are moving on from the recession that ‘never was’ Read More »