Reuters Asia Business

(Corrects second paragraph to say revenue fell, not rose) (Reuters) – China’s Tencent Music Entertainment topped third- quarter revenue estimates on Tuesday, helped by steady growth in paid subscriptions on its music streaming platform. Total revenue of the Tencent Holdings Ltd-controlled company fell to 6.57 billion yuan ($900.94 million) in the third quarter. Analysts were …

China’s Tencent Music tops quarterly revenue estimates Read More »

By Fransiska Nangoy and Bernadette Christina JAKARTA (Reuters) – Indonesia’s state energy company Pertamina and U.S. oil majors Exxon Mobil and Chevron Corp are moving ahead with their discussions to invest in carbon capture facilities while Exxon eyes a petrochemical project in the country. Pertamina and Exxon agreed to carry out further evaluations for $2 …

Indonesia moves ahead with CCS talks with US oil majors, eyes petrochemical project Read More »

BEIJING (Reuters) – China’s CNOOC has begun production at the first phase of its Bozhong 19-6 gas condensate field, according to a statement released by the company on Tuesday. The project, located in the central Bohai sea off the coast of eastern China, is expected to achieve peak production of approximately 37,000 barrels of oil …

CNOOC begins production at first phase of Bozhong 19-6 gas condensate field Read More »

By Roxanne Liu and Kane Wu BEIJING (Reuters) – Bahrain-based alternative asset manager Investcorp is aiming to raise 2 billion to 4 billion yuan ($274 million-$548 million) for its first private equity fund in the Chinese currency, its executive said, to explore buyout opportunities in the country. Investcorp plans to apply in the next few …

Middle East asset manager Investcorp eyes up to $550 million in first China yuan fund Read More »

By Yukiko Toyoda, Kiyoshi Takenaka and Laurie Chen TOKYO/BEIJING (Reuters) – If Japanese Prime Minister Fumio Kishida meets Chinese President Xi Jinping for the first time in a year later this week, he will likely raise the case of a detained company executive that has dealt an outsized blow to their close economic ties. The …

Analysis-How an executive’s arrest struck a blow to Japan-China business Read More »

BEIJING (Reuters) – China has ordered its local governments to halt public-private partnership projects identified as “problematic” and replaced a 10% budget spending allowance for these ventures with a vetting mechanism by Beijing as it tries to curb municipal debt risks. The guidelines were mentioned in a cabinet document that was circulated among local governments, …

Exclusive-China orders local governments to cut exposure to public-private projects as debt risks rise, sources say Read More »

By Sam Nussey and Kaori Kaneko TOKYO (Reuters) -Japanese chip foundry venture Rapidus plans to open a sales office in the United States by the end of the financial year. Rapidus is led by veteran chip executives and hopes to manufacture cutting-edge chips by partnering with IBM and Belgium-based research organisation Imec. The company is …

Japanese chipmaker Rapidus plans US sales office Read More »

TOKYO (Reuters) -Mitsubishi UFJ Financial Group Inc, Japan’s largest lender by assets, said on Tuesday its second-quarter net profit jumped more than three times from a year earlier, buoyed by healthy margins from lending in Japan and overseas. Mitsubishi UFJ posted net profit of 368.89 billion yen ($2.43 billion) for July-September, against 117.41 billion yen …

Japan’s biggest bank Mitsubishi UFJ reports 3-fold jump in Q2 profit Read More »

SHANGHAI/SINGAPORE (Reuters) – China’s central bank is widely expected to boost its liquidity injections but keep the interest rate unchanged when it rolls over maturing medium-term policy loans on Wednesday, a Reuters survey showed. While parts of China’s economy are starting to show signs of improvement after a mid-year slump, the property market and exports …

China cbank set to boost liquidity injection Wednesday but keep rate unchanged Read More »