Reuters Asia Business

South Korean night-life district mourns dead a year after Halloween crush

29 Oct 2023

By Daewoung Kim and Jimin Jung SEOUL (Reuters) – A year after 159 Halloween revellers were killed in a crowd crush in South Korea, the capital’s night-life district of Itaewon was quiet on Saturday, the area’s usual festivities replaced by mourning for those died. In the days before Halloween, seasonal decorations normally adorn the alleys …

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G7 calls for immediate repeal of bans on Japanese food, pressing China

29 Oct 2023

By Kantaro Komiya TOKYO (Reuters) -The Group of Seven (G7) industrial powers called on Sunday for the “immediate repeal” of import curbs on Japanese food products, a reference to China’s restrictions after Japan began releasing wastewater from the Fukushima nuclear power plant. The G7 trade ministers, in a statement after a weekend meeting on Osaka, …

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US, UK make progress on critical minerals agreement, US says

28 Oct 2023

(Reuters) – U.S. Trade Representative Katherine Tai said “significant progress” was made on a U.S.-UK critical minerals agreement in talks on Saturday in Japan. Tai issued a statement after meeting with British business and trade minister Kemi Badenoch. The United States and the UK have been negotiating a critical minerals agreement that could allow electric …

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Flights in China to increase 34% above pre-pandemic levels

28 Oct 2023

BEIJING (Reuters) -China’s aviation regulator said it will increase domestic flights to 34% above pre-pandemic levels, a move that will further boost the recovery of Chinese airlines. China’s top airlines reported their first quarterly profitsin more than three years on Friday, fanning industry hopes for China’s big three state carriers to finally step out of …

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Thai policy rate is right for now, Mideast war is a concern – central bank chief

28 Oct 2023

BANGKOK (Reuters) -Thailand’s current policy rate is appropriate for the economy, but the central bank is ready to make “adjustments” if needed, the bank’s governor said as he warned of increased global risks and concerns over the Middle East conflict. Sethaput Suthiwartnarueput told reporters on Saturday that Southeast Asia’s second’s largest economy is still expected …

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EU, Japan conclude agreement on data flows, EU says

28 Oct 2023

BRUSSELS (Reuters) – The European Union and Japan concluded an agreement on Saturday on cross-border data flows, which should drive business and may help shape global rules for data, the European Commission said. The European Commission said the agreement would benefit companies across a range of sectors, including financial services, transport, machinery and e-commerce, allowing …

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Pakistan approves $29 million financing for national airline

27 Oct 2023

(Reuters) – Pakistan’s caretaker government on Friday approved an 8 billion rupee ($28.60 million) financing proposal for Pakistan International Airlines to meet its debt payment obligations. The financing will be made through the country’s civil aviation authority’s resources, the finance ministry said in a post on social media platform X. The airline, which has accumulated …

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Western Digital’s stop-start merger talks with Japan’s Kioxia stall -sources

27 Oct 2023

By Yoshifumi Takemoto, Makiko Yamazaki and Miho Uranaka TOKYO (Reuters) -Merger talks between Western Digital and Japan’s Kioxia Holdings have stalled, two sources said on Friday, as opposition from Kioxia investor SK Hynix has complicated the on-again, off-again deal to create a memory chip giant. South Korea’s SK Hynix, itself a major memory chip maker …

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Low-cost e-commerce rivals Shein and Temu shelve US court cases

27 Oct 2023

By Casey Hall SHANGHAI (Reuters) – Fierce rivals Shein and PDD Holdings-owned Temu have applied to end their legal fights with each other in the U.S., documents show, marking a truce even as a global market share battle between the low-price online platforms heats up. Joint declarations were filed to courts in Chicago and Boston …

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Moody’s raises Kazakhstan’s outlook on Middle Corridor prospects

27 Oct 2023

ALMATY (Reuters) – Rating agency Moody’s raised Kazakhstan’s sovereign rating outlook to positive from stable on Friday, citing the oil-rich nation’s economic diversification and its importance as a link in a new China-Europe cargo route bypassing Russia. “The positive outlook reflects Moody’s assessment that material and ongoing progress in economic diversification thanks to Kazakhstan’s rising prominence as …

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