Reuters Asia Business

BEIJING (Reuters) -Chinese wealth manager Zhongzhi Enterprise Group has filed for bankruptcy liquidation after failing to repay debt, as the firm grapples with a deepening property market downturn. Zhongzhi applied for bankruptcy on the grounds it could not pay its due debts and its assets were insufficient to pay all its debts, a court in …

Chinese wealth manager Zhongzhi files for bankruptcy liquidation Read More »

By Amy-Jo Crowley LONDON (Reuters) – Ant Group is closing in on a deal to buy Dutch payments firm MultiSafepay as part of the Chinese financial technology group’s latest push into Western payment markets, people familiar with the matter told Reuters. The transaction, which is subject to regulatory approval, is expected to value MultiSafepay at …

Ant Group close to buying MultiSafepay in about $200 million deal-sources Read More »

By Kantaro Komiya TOKYO (Reuters) – Japanese manufacturers rushed to resume production four days after a magnitude 7.6 earthquake killed at least 94 and disrupted infrastructures in the country’s west coast, as businesses were returning from gloomy New Year holidays. About 80% of 200 companies with plants in the quake-hit areas, including makers of machines, …

Japanese firms rush to resume production as earthquake disrupts local economy Read More »

By Andrew Silver SHANGHAI (Reuters) – Thermo Fisher Scientific has pledged to stop selling forensic technology and equipment in Tibet that could be used for identifying individuals, a spokesperson for the company said. The U.S. firm had offered dedicated human identification (HID) technology in Tibet, a region with a population of about 4 million people …

Thermo Fisher halts forensic tech sales in Tibet Read More »

By Ben Blanchard and Sarah Wu TAIPEI (Reuters) -Taiwan’s Foxconn, the world’s largest contract electronics maker and Apple’s biggest iPhone assembler, said on Friday it expected an on-year drop in first quarter revenue coming off a high base, after slower market demand hit the previous quarter. The first quarter is traditionally quieter than the previous …

Foxconn expects Q1 revenue drop after slower Q4 demand Read More »

By Chen Aizhu and Muyu Xu SINGAPORE (Reuters) – China’s oil trade with Iran has stalled as Tehran withholds shipments and demands higher prices from its top client, tightening cheap supply for the world’s biggest crude importer, refinery and trade sources said. The cutback in Iranian oil, which makes up some 10% of China’s crude …

Exclusive-Iran’s oil trade with China stalls as Tehran demands higher prices Read More »

SHANGHAI/BEIJING (Reuters) – China’s major state-owned banks were active in onshore and offshore foreign exchange markets this week trying to contain the yuan’s slide, four people with direct knowledge of the matter said. The state banks were seen swapping yuan for U.S. dollars in the onshore swap market before quickly selling those dollars in the …

Exclusive-China’s state banks act to stem yuan slide onshore and offshore -sources Read More »

By Gaurav Dogra and Patturaja Murugaboopathy (Reuters) – Asian equities attracted their biggest inflows in seven years in 2023, encouraged by major central banks’ deceleration in rate hikes to prioritize economic stimulation amid diminishing inflation worries. Central banks only moderated the pace of their rate hikes last year, but this year analysts anticipate increased foreign …

Asian equities attract largest inflows in 7 years as cenbanks shift monetary policy Read More »