Reuters Asia Business

By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) -Thailand’s central bank left its key interest rate unchanged on Wednesday as expected, ending a year-long tightening cycle amid a slowing economy and below-target inflation, while cutting its growth outlook. The central bank said the current rate of 2.50% was suitable to support the expansion of Southeast …

Thai central bank holds key rate steady, trims growth outlook Read More »

By Xie Yu HONG KONG (Reuters) -A new exchange-traded fund (ETF) tracking Saudi equities made its trading debut in Hong Kong on Wednesday, becoming the first product of its kind in Asia amid warming bilateral relations between China and Saudi Arabia. The ETF, called CSOP Saudi Arabia ETF, is managed by Hong Kong-based CSOP Asset …

Asia’s first ETF tracking Saudi equities debuts in Hong Kong Read More »

By Julie Zhu and Zhuzhu Cui HONG KONG/SHANGHAI (Reuters) – Huawei Technologies’ new smart car software and components firm is set for a valuation of up to 250 billion yuan ($34.67 billion) after it sells stakes to investors including Changan Auto, three people with knowledge of the matter said. The Chinese company said on Sunday …

Exclusive-Huawei’s new smart car firm valued up to $35 billion amid advanced stake talks -sources Read More »

JAKARTA (Reuters) – The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric tons, a group official said on Wednesday. “As of today, output has reached 690 million tons, so it is estimated that by the end of the year production will exceed the …

Coal miners group expects Indonesia’s 2023 coal output to surpass target Read More »

By Stephen Nellis (Reuters) -Amazon.com on Tuesday announced a new artificial intelligence chip for its cloud computing service as competition with Microsoft to dominate the market for artificial intelligence heats up. At a conference in Las Vegas, Amazon Web Services (AWS) Chief Executive Adam Selipsky announced Trainium2, the second generation of chip designed for training …

Amazon announces new cloud AI chip as Microsoft rivalry intensifies Read More »

By Casey Hall and Chavi Mehta (Reuters) -Temu parent PDD Holdings beat third-quarter revenue forecasts on Tuesday as heavy discounting boosted sales across its e-commerce platforms in China and overseas, sending its U.S.-listed shares almost 14% higher in premarket trading. PDD, home to Chinese online discount retailer Pinduoduo as well as cross-border platform Temu, has …

China’s PDD beats estimates as online discounter Temu booms Read More »

By Maha El Dahan, Olesya Astakhova and Ahmad Ghaddar LONDON (Reuters) -OPEC+ talks on 2024 oil policy are difficult, making a rollover of the previous agreement a possibility rather than deeper production cuts, four OPEC+ sources said on Tuesday. The OPEC+ group comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies led by …

OPEC+ talks tough, policy rollover possible, sources say Read More »

By Trixie Yap SINGAPORE (Reuters) – Jet fuel prices in Asia rose to their highest against gasoil in five years on Tuesday, buoyed by strong demand for the fuel used for winter heating and aviation, according to LSEG data and trade sources. The prompt-month re-grade spread, or the price differential between gasoil and jet fuel …

Asia jet fuel prices hit highest in 5 years versus gasoil on strong demand Read More »