Reuters Asia Business

By Josh Ye HONG KONG (Reuters) -China’s Lenovo Group Ltd on Thursday posted a 16% fall in revenue for the three months through September, meeting market expectations, as supply for personal computers (PCs) continued to outstrip demand. Lenovo’s quarterly revenue fell 16% to $14.41 billion from the same period last year, marking the fifth consecutive …

Lenovo posts another revenue decline as PC demand remains slow Read More »

By Gayatri Suroyo and Fransiska Nangoy JAKARTA (Reuters) – Indonesia’s leading presidential hopefuls are considering a push to end the state power utility’s monopoly as part of efforts to speed up the transition to greener energy, their teams told Reuters. All three candidates vying to win the Feb. 14 election in Southeast Asia’s largest economy …

Indonesian presidential hopefuls consider ending state power monopoly Read More »

HONG KONG (Reuters) – A court auction to sell vast commercial land plots owned by defaulted Shimao Group in Shenzhen failed for a second time on Thursday as there were no bidders, highlighting weak demand in China’s property market. Twelve land plots totalling 243,602 square metres, together with some uncompleted buildings on them, have asked …

Court auction to sell Shimao land in Shenzhen fails again Read More »

By Liangping Gao and Ryan Woo BEIJING (Reuters) -China’s new home prices fell for the fourth straight month with dozens of cities hit by declines, the most since the peak of the COVID-19 pandemic last year, suggesting a broader weakening in the sector that could drag on the country’s overall recovery. New home prices in …

China’s home prices dip for 4th month, may weaken further Read More »

(Reuters) – Singapore Telecommunications Ltd, the parent of Australian telecoms provider Optus, said on Thursday its planned software update was not the root cause for an outage last week, contradicting Optus’ claims earlier this week. More than 10 million Australians were hit by the 12-hour network blackout at the Singapore Telecommunications-owned (SingTel) telecom firm on …

Optus parent SingTel denies software upgrade as root cause for outage Read More »

(Reuters) -Commonwealth Bank of Australia (CBA) on Thursday said it will sell its 99% stake in Indonesian unit PT Bank Commonwealth (PTBC) to Singapore’s OCBC, exiting a non-core business after more than two decades. The A$220 million ($142.3 million) sale to OCBC’s PT Bank OCBC NISP advances CBA’s strategy of quitting businesses outside of retail …

Commonwealth Bank of Australia to sell Indonesian unit to Singapore’s OCBC Read More »

By David Lawder SAN FRANCISCO (Reuters) -China is objecting to a U.S. proposal for Asia Pacific Economic Cooperation members to incorporate sustainability and inclusivity into their trade and investment policies, a source briefed on the negotiations said on Wednesday. Talks on the issue were continuing at the APEC summit in San Francisco to try to …

China objects to US proposal for APEC trade and investment policies -source Read More »

(Reuters) -Philippines President Ferdinand Marcos Jr said on Thursday that the government is committed to bringing down inflation and maintaining overall price stability. The government will pursue supply-side interventions and demand-side management measures to address inflation, Marcos said at an economic briefing in San Francisco aired live on Facebook. The consumer price index rose 4.9% …

Philippine government committed to temper inflation – president Read More »

By Joseph White DETROIT (Reuters) – The next generation of the Toyota Camry, the best-selling sedan in the U.S. market, will come with only a gas-electric hybrid powertrain, the boldest move yet by the Japanese automaker to push hybrid technology into the heart of the U.S. market. The 2025 Camry will combine a 2.5-liter gasoline …

Toyota’s Camry, best-selling car in US, goes all-hybrid Read More »