Reuters Asia Business

TOKYO (Reuters) – Japan’s Nippon Life Insurance will acquire Nichii Holdings for about 210 billion yen ($1.41 billion), the Nikkei reported on Tuesday. Nippon Life has agreed to buy all the outstanding shares of Nichii HD from a fund linked to Bain Capital and other shareholders, the report said without citing sources. ($1 = 148.6700 …

Nippon Life to buy Nichii Holdings for about $1.41 billion – Nikkei Read More »

By Casey Hall SHANGHAI (Reuters) -China’s Meituan posted a bigger-than-expected 22.1% rise in third-quarter revenue on Tuesday, as the country’s largest food delivery firm extended its recovery from the pandemic impact of last year. The platform, whose app provides services such as bike-sharing, ticket-booking and maps, reported June-September revenue of 76.47 billion yuan ($10.69 billion), …

China food delivery firm Meituan beats revenue expectations amid economic headwinds Read More »

By Sinead Cruise and Carolyn Cohn LONDON (Reuters) – M&G Real Estate forecasts it is “a matter of time” before global property markets face greater volumes of forced selling, with banks increasingly reluctant to refinance troubled or lower quality assets at current interest rates. Property developers in China, Germany and Sweden have in particular suffered …

Forced sales ahead for indebted global real estate markets -M&G Read More »

TOKYO (Reuters) – Bank of Japan Governor Kazuo Ueda got a pay hike of 1.1% this year, the biggest the central bank offered its governor in nine years but not enough to offset the pace of inflation that is currently running at nearly 3%, BOJ data showed on Tuesday. The increase is nearly triple the …

Bank of Japan governor gets 1.1% pay hike, below inflation Read More »

By Miho Uranaka, Daniel Leussink and Maki Shiraki TOKYO (Reuters) -Toyota Motor and two affiliates plan to sell about 10% of components maker Denso by year-end, a stake likely worth about $4.7 billion, sources familiar with the matter said. The sale of shares in Denso would mark the latest step by the world’s top selling …

Exclusive-Toyota group companies plan $4.7 billion sale of Denso stake -sources Read More »

SHENZHEN, China (Reuters) – Huawei Technologies said some of its automotive partnerships, having gained skills in user experience, product design and marketing, were now ready to move towards independent operations and investment. Huawei’s managing director and chairman of its smart car solutions unit Richard Yu made the comments while speaking at a launch event in …

Some Huawei car businesses moving towards independence, autos chief says Read More »

KARACHI (Reuters) – Pakistan’s benchmark share index on Tuesday breached 60,000 to trade at an all-time high of 60,500.61 points, data on the Pakistan Stock Exchange website showed. Investors expect an imminent cut in the central bank’s policy interest rate, currently set at a record high 22%. Inflation appears to have peaked, having slowed to 26.9% …

Pakistan’s benchmark share index at all-time high Read More »

BEIJING (Reuters) – Alibaba’s cloud service said it suffered a near two-hour long disruption affecting customers in mainland China, Hong Kong and the United States on Monday, its second outage within a month. The impact was mainly felt by several of Alibaba Cloud’s database management products, including PostgreSQL, Redis and MySQL editions. Beijing, Shanghai, Hong …

Alibaba Cloud suffers second service outage in a month Read More »

By Leika Kihara TOKYO (Reuters) – A key measure of Japan’s trend inflation accelerated to 2.2% in October, data showed on Tuesday, marking a fresh record high in a sign of broadening price pressure that heightens the case for the central bank to dial back its massive monetary stimulus. The data adds to recent growing …

Japan’s price trend gauge hits record, heightens case for BOJ exit Read More »