By Josh Ye HONG KONG (Reuters) -Chinese regulators announced on Friday a wide range of rules aimed at curbing spending and rewards that encourage video games, dealing a blow to the world’s biggest games market, which returned to growth this year. The new rules, which will effectively set spending limits for online games, sparked panic …
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By Sakura Murakami TOKYO (Reuters) – Japan on Friday finalised its record 7.7 trillion yen ($54.25 billion) defence budget for fiscal 2024, the second consecutive year in which the country increased defence spending by about a trillion yen from the previous year. The approved budget keeps Japan on track to boost military spending by 43 …
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BEIJING (Reuters) -Chinese electric vehicle giant BYD is to build a new energy vehicle production base in Hungary, it said on Friday. The new facility to be built in Szeged, southern Hungary is expected to create thousands of local jobs, BYD said in a statement on its official WeChat account. The biggest Chinese rival to …
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By Makiko Yamazaki and Ritsuko Shimizu TOKYO (Reuters) -The Japanese government’s reform push for the country’s $5 trillion asset management industry has sparked a series of action plans from top Japanese banking groups to beef up their long overlooked asset management business. Asset management has emerged as an area of focus for the banks this …
Japan banks scramble to beef up asset management business amid govt reform push Read More »
By Tetsushi Kajimoto and Takaya Yamaguchi TOKYO (Reuters) – Japan announced a cut in overall spending for the first time in 12 years in its fiscal 2024/25 budget, amid speculation the central bank may soon shift away from more than two decades of ultra-easy monetary policy. The budget for the coming fiscal year that starts …
Japan cuts spending for first time in 12 years in 2024/25 budget Read More »
SHANGHAI (Reuters) – Chinese automaker Geely warned on Friday its EV sales are likely to be impacted by a delay in deliveries due to the “situation” in the Red Sea, where Yemeni militants are attacking vessels, forcing shippers to take longer, more expensive routes. Geely, China’s second largest automaker by sales, told Reuters that most …
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BEIJING/SHANGHAI (Reuters) -Tesla has acquired land in Shanghai for a megapack battery manufacturing plant with production expected to start in the fourth quarter of 2024, Chinese state media reported on Friday. Tesla paid 222.42 million yuan ($31.13 million) for use rights to a 19.7-hectare (48.7 acres) plot, a separate government statement said on Thursday. The …
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TOKYO (Reuters) – Toshiba Corp sees power management chips as an immediate profit driver on the back of surging electric vehicle (EV) demand, its chief executive said on Friday, as the Japanese industrial conglomerate was taken private. “We want to expand (production) capacity for power chips as quickly as possible,” Chief Executive Taro Shimada told …
Toshiba sees power chips as immediate growth driver after $14 billion buyout Read More »
TOKYO (Reuters) -Japanese Industry Minister Ken Saito said on Friday that U.S.-Japanese ties were “stronger than ever”, although he declined to comment directly on growing scrutiny in the United States of a proposed deal for Nippon Steel to buy U.S. Steel. Speaking at a regularly scheduled press conference, Saito said he was aware of a …
Japan-US ties stronger than ever, minister says amid US Steel scrutiny Read More »
By Siyi Liu and Dominique Patton BEIJING (Reuters) – This Dec. 21 story has been corrected to clarify that the ban was on the export of technology to make rare earth magnets and that the ban on technology to extract and separate critical materials was already in place, in paragraphs 1 and 6. It also …
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