Reuters Asia Business

HONG KONG (Reuters) – Hong Kong’s New World Development and Chinese state-backed China Resources Land said they will jointly build a $1.3 billion housing project in the financial city’s “Northern Metropolis” next year. In a joint statement on Wednesday, the two developers said the project will create around 1,800 homes in the Hong Kong government-led …

New World and China Resources to build $1.3 billion Hong Kong housing development Read More »

BEIJING (Reuters) -China’s November industrial profits posted double-digit gains as overall manufacturing improved, although soft demand continued to constrain business growth expectations, emboldening calls for more macro policy support. The 29.5% profit rise came on top of a 2.7% increase in October and alongside a pickup in industrial output in November, although other sectors of …

China’s industrial profits post double-digit gains but recovery uneven Read More »

By Yuka Obayashi TOKYO (Reuters) – Japan’s nuclear power regulator on Wednesday lifted an operational ban imposed on Tokyo Electric Power’s Kashiwazaki-Kariwa nuclear power plant two years ago, allowing it to work towards gaining local permission to restart. Tepco has been eager to bring the world’s largest atomic power plant back online to slash operating …

Japan lifts operational ban on world’s biggest nuclear plant Read More »

BEIJING (Reuters) – Chinese electric vehicle giant BYD said on Wednesday it has obtained a conditional testing license for level 3 (L3) autonomous driving on high-speed roads. BYD was granted the first such license in China in July, the company said in a statement on its official Weibo account. Earlier in December, BMW Group said …

BYD has obtained conditional testing license for level 3 autonomous driving on high-speed roads Read More »

TOKYO (Reuters) – Toyota Motor’s global production jumped 11% in November to a record level, bouncing back from last year’s supply chain disruptions and benefiting from robust demand both in Japan and overseas. Output for November climbed to 926,573 vehicles, while worldwide sales increased 14% from a year earlier when automakers globally were bedevilled by …

Toyota’s global output surges to record in November on strong demand Read More »

By Jason Xue and Casey Hall SHANGHAI (Reuters) -China’s Tencent Holdings saw its shares stage a partial rebound on Wednesday, the first day of trade after authorities vowed to make improvements to proposed rules that had sent stocks in video game companies plunging. Draft rules were published on Friday that seek to curb spending and …

Tencent shares regain some ground after regulator appears to soften gaming stance Read More »

By Sam Nussey TOKYO (Reuters) -SoftBank Group Corp said it would receive shares in telco T-Mobile US worth some $7.59 billion at no additional cost, driving the Japanese conglomerate’s shares up 5%. Masayoshi Son’s conglomerate said late on Tuesday it had told T-Mobile US to issue 48.75 million shares in common stock to it after …

SoftBank gets $7.6 billion T-Mobile stake windfall, shares soar Read More »

By Kanishka Singh WASHINGTON (Reuters) -The office of U.S. Trade Representative Katherine Tai on Tuesday announced a further extension of China “Section 301” tariff exclusions on 352 Chinese import and 77 COVID-19-related categories till May 31, 2024. THE TAKE The administration of former President Donald Trump used Section 301 of the Trade Act of 1974, …

US extends tariff exclusions on some Chinese categories till May 31 Read More »