Reuters Asia Business

Factbox-What is China’s onshore yuan clearing and settlement system CIPS?

28 Feb 2022

BEIJING (Reuters) – Western nations have announced a harsh set of sanctions to punish Russia for its invasion of Ukraine, which includes blocking some banks from the SWIFT international payments system. Chinese payment-related stocks jumped on Monday as investors wagered that kicking banks out of the SWIFT system would benefit China’s own cross-border payment system, …

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India’s Future Retail suspends supermarket operations as Reliance plans takeover

28 Feb 2022

By Aditya Kalra NEW DELHI (Reuters) -Future Retail Ltd, India’s second-largest retailer, suspended most of its online and offline operations as stores remained shut on Sunday, after rival Reliance bid to take over its flagship supermarkets for missed lease payments. Reliance Industries Ltd will rebrand the Future stores after the company failed to make payments …

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Huawei commits to consumer markets with ‘Smart Office’ launch

27 Feb 2022

BARCELONA (Reuters) – China’s Huawei launched seven new “Smart Office” products, including a top-end laptop and its first printer and e-ink tablet, on Sunday, underlining its commitment to consumers after U.S. trade restrictions severely hit its mobile business. Consumer Business Group CEO Richard Yu, speaking in a video presentation ahead of the Mobile World Congress, …

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Google blocks Russia’s RT app downloads on Ukrainian territory

27 Feb 2022

MOSCOW (Reuters) -Alphabet Inc’s Google has banned downloads of Russian state-owned media outlet RT’s mobile app on Ukrainian territory at the request of the government in Kyiv. “In response to a legal request from the Ukrainian government, the RT News app is no longer available for download on Google Play in Ukraine,” a Google spokesperson …

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Oil could jump back above $100 as traders assess Russia SWIFT ban, analysts say

27 Feb 2022

By Ahmad Ghaddar LONDON (Reuters) – A decision by Western allies on Saturday to block certain Russian banks from the SWIFT payments system is likely to lift oil prices well above $100 a barrel as risks with trading Russian oil spike, analysts say. SWIFT, or the Society for Worldwide Interbank Financial Telecommunication, is a secure …

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Stocks set for a painful week as conflict intensifies; bonds to gain

27 Feb 2022

By Saikat Chatterjee LONDON (Reuters) – World markets were set for another tumultuous week after Western nations announced a harsh set of sanctions to punish Russia for its invasion of Ukraine and as fighting intensified for a fourth day. U.S. stocks have fallen nearly 8% so far this year, on track for the worst annual …

Stocks set for a painful week as conflict intensifies; bonds to gain Read More »

Taiwan says chip companies complying with Russia export controls

27 Feb 2022

TAIPEI (Reuters) – Taiwan’s semiconductor companies are complying with government export controls to Russia, put in place as part of sanctions on Moscow for invading Ukraine, the Economy Ministry said on Sunday. Taiwan, which announced it was joining international sanctions against Russia on Friday, is a major chip manufacturer, home to the world’s largest contract …

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Want to attend Warren Buffett’s ‘Woodstock for Capitalists’? Get vaccinated

27 Feb 2022

By Jonathan Stempel (Reuters) – Warren Buffett is this year bringing back the annual extravaganza for shareholders of his Berkshire Hathaway Inc that he calls “Woodstock for Capitalists.” But the 91-year-old billionaire has a cautionary message: If you want to attend, get vaccinated against COVID-19. Proof of vaccination will be required to attend Berkshire’s annual …

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Australia’s Qantas to avoid Russian airspace on London flights

27 Feb 2022

SYDNEY (Reuters) – Australia’s Qantas Airways Ltd is opting to use an alternative flight path between Darwin and London that avoids Russian airspace after the invasion of Ukraine, the airline said on Sunday. “Given the current circumstances and complexities, we’re opting to use one of our alternative flight paths that doesn’t overfly Russia, while we …

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