Reuters Asia Business

By Francesca Landini MILAN (Reuters) – Italy’s Eni could more than double its gas production in Indonesia thanks to the development of a recent discovery and potential synergies with assets it already owns, a company executive said on Friday. Eni announced earlier this month a gas find at Geng North-1, an exploration well drilled in …

Eni could more than double gas production in Indonesia, top exec says Read More »

By Polina Devitt and Fransiska Nangoy LONDON/JAKARTA (Reuters) – Reserves of high-grade nickel ore in top producer Indonesia may be depleted in around six years, a miners’ association has warned, risking shortages of the material used to make stainless steel. Indonesia’s high-grade 1.7% nickel ore is mainly used for the country’s nickel pig iron (NPI) …

Indonesia’s high-grade nickel ore reserves may be depleted in 6 years Read More »

By Sarah Wu HSINCHU, Taiwan (Reuters) -Taiwan’s chip industry is ready to work with the government to achieve its 2050 net-zero goal but development of renewable energy sources needs to be hastened as demand for artificial intelligence booms, a top industry executive said on Friday. Taiwan imports nearly all its energy needs, mostly in the …

Entering AI era, Taiwan chip industry urges speeding up renewables push Read More »

By David Kirton SHENZHEN, China (Reuters) -China’s Huawei Technologies saw a slight uptick in revenue in the first three quarters of 2023, with the company citing growth in its digital power and cloud businesses as well as the growing competitiveness of its vehicle components unit. Huawei posted revenues of 456.6 billion yuan ($62.4 billion)for the …

China’s Huawei reports modest revenue growth for first three quarters Read More »

By Yuka Obayashi TOKYO (Reuters) -Japan’s top power generator JERA returned to profit in the first half of fiscal 2023/24, helped by lower fuel procurement costs and higher electricity prices, it said on Friday. Net profit stood at 291 billion yen ($2.2 billion) for the six months through Sept. 30, against a loss of 214 …

Japan’s JERA returns to profit in first half on lower fuel costs Read More »

By Makiko Yamazaki TOKYO (Reuters) -Nomura Holdings, Japan’s biggest brokerage and investment bank, reported a doubling in second-quarter net profit after a buoyant domestic stock market led to a surge in equity offerings and retail brokerage fees. Nomura’s dominant position in Japan, where the stock market is trading at 33-year highs, helped it offset lethargic …

Nomura quarterly profit doubles on Japanese stock market strength Read More »

BEIJING/SHANGHAI (Reuters) – Industrial and Commercial Bank of China Ltd (ICBC), China’s largest commercial lender by assets, on Friday said net profit grew 0.03% year-on-year in the third quarter. Profit was 94.93 billion yuan ($12.97 billion) in the three months ended September, the bank said in a filing. ($1 = 7.2543 Chinese yuan renminbi) (Reporting …

Top China bank ICBC posts flat Q3 profit Read More »

SHANGHAI/BEIJING (Reuters) – Agricultural Bank of China Ltd (AgBank), the country’s third-largest lender by assets, reported a 7.8% rise in third quarter net profit on Friday. Net profit for the three months ended September totalled 74.12 billion yuan ($10.13 billion), AgBank said in a filing. ($1 = 7.3171 Chinese yuan renminbi) (Reporting by Engen Tham …

China’s AgBank posts 7.8% rise in Q3 profit Read More »

By Kevin Buckland and Tomo Uetake TOKYO (Reuters) – Japan’s biggest life insurers plan to add to holdings of superlong Japanese government bonds (JGB) over the next five months, but are cautious amid risks for a hawkish turn by the country’s central bank. Nippon Life, Dai-Ichi Life and Meiji Yasuda Life were among those who …

Japan’s life insurers to boost JGB buying but wary of policy shift Read More »