Reuters Asia Business

By Makiko Yamazaki TOKYO (Reuters) -Mizuho Financial Group on Monday revised up its profit forecast for the full year due to a weaker yen and rosier outlook for the economy, as the world’s third-largest economy approached monetary policy normalisation. For the full year through March, the third-largest Japanese lender raised its profit forecast to 640 …

Japan’s Mizuho hikes profit forecast on robust economic outlook Read More »

By Yelin Mo and Sameer B Kulkarni (Reuters) -Didi Global, China’s largest ride-hailing company, on Monday reported its first quarterly profit since 2021, adding to signs of its comeback from regulatory challenges as domestic demand for mobility services continues to recover. Didi Global reported net income attributable to shareholders of 107 million yuan ($14.66 million) …

China’s Didi posts first quarterly profit since 2021 as regulatory woes ease Read More »

By Selena Li and Summer Zhen HONG KONG (Reuters) – Citadel Securities, one of the world’s biggest market-making firms, is “actively exploring” establishing a licensed onshore business in China, its chief executive Peng Zhao said. If Citadel Securities were to obtain a licence, it would be the first foreign firm to formally foray into market-making …

Citadel Securities explores China licence as Beijing steps up market-making program Read More »

TOKYO (Reuters) -Japan’s Ajinomoto said on Monday it agreed to acquire U.S.-based genetic medicines maker Forge Biologics Holdings for 82.8 billion yen ($546 million). The transaction is expected to be completed in December 2023 pending regulatory approvals, Ajinomoto said a release. Ajinomoto, whose primary business is in seasonings and processed foods, has a healthcare segment …

Japan’s Ajinomoto to buy US-based Forge Biologics for $546 million Read More »

By David Lawder SAN FRANCISCO (Reuters) – Economic growth among Asia Pacific Economic Cooperation countries is expected to decline next year and remain below the global average as higher interest rates slow U.S. growth, as China continues to struggle with its recovery and tensions between the two hamper trade, the body said on Sunday. The …

APEC’s growth to slow as persistent inflation, US-China tensions weigh-report Read More »

By Heekyong Yang ULSAN, South Korea (Reuters) -Hyundai Motor Co broke ground on Monday on a 2 trillion won ($1.52 billion) plant dedicated to making electric vehicles (EVs) in South Korea, as the automaker accelerates a shift away from petrol-powered cars. Hyundai Motor, the world’s No.3 automaker by sales with its affiliate Kia Corp, plans …

Hyundai Motor breaks ground on $1.5 billion EV plant in South Korea Read More »

By Trevor Hunnicutt and Ernest Scheyder WASHINGTON (Reuters) – The United States and Indonesia on Monday will discuss how to advance a potential minerals partnership aimed a stimulating trade of the electric vehicle (EV) battery metal nickel, according to three people with direct knowledge of the conversations. Next steps that could move the countries toward …

Exclusive-US, Indonesia to discuss potential for deal on EV minerals -sources Read More »

SEOUL (Reuters) – South Korean inflation is likely to ease in November to about 3.6% as prices of agricultural products have started to fall, the finance minister said on Sunday. South Korea’s consumer price index stood 3.8% higher in October from a year ago, the fastest inflation rate since March 2023 and above the 3.6% …

South Korea inflation likely to ease in November – finance minister Read More »

MANILA (Reuters) – The presidential communications office on Saturday released revised rules for the Philippines’ first sovereign wealth fund, with changes to include granting powers to the president to accept or reject an advisory board’s nominations for top officials. Last month, President Ferdinand Marcos Jr. suspended implementation of the Maharlika Investment Fund (MIF) to ensure …

Philippines releases revised rules on sovereign wealth fund Read More »