Reuters Asia Business

By Yuka Obayashi and Ritsuko Shimizu TOKYO (Reuters) – Nippon Steel, the world’s No.4 steelmaker, will keep on hunting for stakes in coking coal and iron ore mines to ensure a stable supply of essential raw materials and mitigate the potential impact of price volatility, its executive said. A Glencore-led consortium, including Nippon Steel, sealed …

Nippon Steel to hunt for more coking coal, iron ore assets-executive Read More »

By Richa Naidu and Siddharth Cavale LONDON/NEW YORK (Reuters) – Walmart is importing more goods to the United States from India and reducing its reliance upon China as it looks to cut costs and diversify its supply chain, data seen by Reuters shows. The world’s largest retailer shipped one quarter of its U.S. imports from …

Walmart shifts to India, cuts China imports Read More »

WASHINGTON (Reuters) -The United States on Wednesday imposed sanctions on a virtual currency mixer the Treasury Department said has processed millions of dollars worth of cryptocurrency from major heists carried out by North Korea-linked hackers. The Treasury Department said in a statement that virtual currency mixer Sinbad, which was hit with sanctions on Wednesday, processed …

US sanctions cryptocurrency mixer Sinbad over alleged North Korea ties Read More »

By Daniel Leussink TOKYO (Reuters) – Toyota and two affiliates will divest at least 8% of supplier Denso, the companies said on Wednesday, a $4 billion deal that sparked investor hopes the world’s top-selling automaker will shed more of its numerous cross-shareholdings. The share sale, which was first reported by Reuters on Tuesday, will be …

Toyota group to sell 8% Denso stake, investors want more unwinding Read More »

By Liangping Gao and Ryan Woo BEIJING (Reuters) – Prices of new homes in China are now expected to climb 3% this year after a slew of policy measures to support the country’s beleaguered property market, up from earlier expectations for prices to be flat, a Reuters poll showed. But the poll of 11 economists, …

China new home prices now seen climbing this year after policy steps: Reuters Poll Read More »

By Neha Arora NEW DELHI (Reuters) – India’s finished steel imports from China touched a four-year high in the first seven months of the fiscal year that began in April, according to provisional government data reviewed by Reuters on Wednesday. China was the top exporter of finished steel to India during April-October, shipping in 1.1 …

India’s April-Oct steel imports from China at four-year high Read More »

By Ankur Banerjee SINGAPORE (Reuters) – As Asia’s banking sector navigates a peak in global interest rates and risks of slower growth, investors are wagering that banks in India and Indonesia have the strongest loan and profitability profiles to provide returns next year. Over the past 18 months Asian central banks tracked the U.S. Federal …

As global rates turn, banks in India and Indonesia set to win Read More »

By Anton Bridge TOKYO (Reuters) – When Japan’s Rakuten launched a mobile service network in 2020, the e-commerce and fintech giant promised to disrupt the world’s third-largest telecoms market. It’s done that in part, but the greater shake-up has been to its finances. By any measure, cash-bleeding Rakuten Mobile is deeply troubled. Founder and CEO …

Rakuten’s mobile misadventure: from ambitious plan to millstone Read More »

BEIJING (Reuters) -China’s Didi Global on Wednesday offered millions of its customers coupons worth 10 yuan ($1.40) as part of an apology for a glitch that hit its ride-hailing app this week. In a pop-up on the app, the company also said it would compensate users who had overpaid for rides. On Monday evening, the …

China’s ride-hailing giant Didi offers coupons to apologise for app glitch Read More »

By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka has been informed that a debt-restructuring agreement with creditor nations has been reached but is yet to receive a letter of confirmation from the official creditor committee, a government source told Reuters on Wednesday. Sri Lanka, mired in its worst financial crisis in decades, has been trying to reach …

Sri Lanka reaches debt restructuring deal with creditor nations – government source Read More »