Reuters Asia Business

By Karin Strohecker and Libby George LONDON (Reuters) -A group of creditors holding Sri Lanka’s international bonds said on Friday it welcomed the country’s debt restructuring agreement with official creditors, though it said a lack of transparency on deals struck so far was regrettable. The complaint underscores rising worries that a lack of visibility for …

Sri Lanka bondholders raise concerns over debt deal transparency Read More »

KARACHI, Pakistan (Reuters) – Pakistan’s annual inflation clocked in at 29.2% in November, data from the statistics bureau showed on Friday, a slight increase from October but well below a peak of 38.0% in May. Compared with the previous month, inflation was 2.7%. The country is embarking on a tricky path to economic recovery under …

Pakistan reports annual inflation of 29.2% in November Read More »

(Reuters) -U.S.-listed shares of Alibaba Group Holding declined on Friday following a Morgan Stanley downgrade on concerns over slower turnaround in its key businesses, hours after PDD raced past its rival to become the most valuable Chinese e-commerce firm. Alibaba’s stock slipped 3.2% to $72.5, touching a fresh one-year low. The shares are down nearly …

Alibaba dips on MS downgrade as PDD grabs spot of most valuable Chinese e-commerce firm Read More »

By Kane Wu and Yantoultra Ngui HONG KONG/SINGAPORE (Reuters) – China’s state-owned Beijing Capital Group has hired Citigroup to sell its wholly-owned Singapore waste management company ECO in a deal that could fetch $300 million to $400 million, said two sources with knowledge of the matter. Beijing Capital bought the business from private equity firm …

Beijing Capital hires Citi to sell Singapore waste company in up to $400 million deal – sources Read More »

By Leika Kihara TOKYO (Reuters) -Asia’s factory activity remained weak in November on soft global demand, surveys showed on Friday, with mixed signs on the strength of China’s economy clouding the outlook for the region’s fragile recovery. China’s private Caixin/S&P Global manufacturing purchasing managers’ index (PMI) unexpectedly rose to 50.7 in November from a 49.5 …

Asia factory activity weakens, uncertainty on China clouds outlook Read More »

By Sam Nussey and Miho Uranaka TOKYO (Reuters) – Japanese air conditioner maker Daikin Industries is turning to custom-made semiconductors to eke out energy savings, as companies increasingly look to bespoke chip designs to enhance performance. As tech heavyweights such as Apple and Amazon spend heavily on custom cutting-edge chips, companies using legacy chips are …

Japan aircon king Daikin looks to custom chips for energy savings Read More »

BEIJING (Reuters) – China’s new home prices rose slightly for a third straight month in November, a private survey showed on Friday, as the crisis-hit property sector struggles to stabilise despite a slew of government support measures. Prices rose 0.05% on average from the previous month after gains of 0.07% and 0.05%, according to the …

China new home prices inch up for third month in November – survey Read More »

(Reuters) -A group of offshore creditors to China Evergrande Group is asking for a controlling equity stake of the developer and two of its Hong Kong subsidiaries as part of company’s revised debt restructuring proposal, a source familiar with the matter said on Friday. Bloomberg News first reported the request on Friday, citing people familiar …

China Evergrande creditors seek controlling stakes in new proposal Read More »