Reuters Asia Business

By Fanny Potkin, Sam Nussey and Miho Uranaka SINGAPORE/TOKYO (Reuters) – Taiwan chipmaker Powerchip Semiconductor Manufacturing Corp is considering around five sites in Japan, including Mie prefecture, for setting up a potential $5.4 billion factory as talks on subsidies progress, sources said. Powerchip announced in July it was setting up a joint venture with Japanese …

Taiwan’s Powerchip considering 5 sites in Japan for $5.4 billion factory – sources Read More »

By Xie Yu and Li Gu HONG KONG/SHANGHAI (Reuters) – China’s Gemdale saw its stocks and bonds plunge on Tuesday after the resignation of its chairman, as investors took no chances amid the debt crisis in the key real estate sector. Ling Ke, 64, had resigned due to health reasons, Shanghai-listed Gemdale announced on Monday …

Stocks, bonds in China’s Gemdale dive on property crisis fears Read More »

By Clare Jim HONG KONG (Reuters) – Country Garden’s entire offshore debt will be deemed to be in default if China’s largest private property developer fails to make a $15 million coupon payment on Tuesday, the end of a 30-day grace period. WHAT IS EXPECTED TO HAPPEN NEXT? A non-payment is expected after Country Garden …

Explainer-Country Garden: What happens next? Read More »

By Clare Jim and Xie Yu HONG KONG (Reuters) -Country Garden’s entire offshore debt will be deemed to be in default if China’s largest private property developer fails to make a $15 million coupon payment on Tuesday, the end of a 30-day grace period.Non-payment of this tranche is set to trigger cross defaults in other …

Country Garden’s entire offshore debt to be in default if Tuesday payment not made Read More »

By Karen Freifeld (Reuters) -The U.S. will take steps to prevent American chipmakers from selling semiconductors to China that circumvent government restrictions, a U.S. official said, as part of the Biden administration’s upcoming actions to block more AI chip exports. The new rules, details of which Reuters is reporting for the first time, will be …

Exclusive-US tackles loopholes in curbs on AI chip exports to China – official Read More »

SHANGHAI (Reuters) – Dozens of China-listed companies announced plans on late Monday to buy back shares or scrap plans of stock selling, following a slew of measures authorities took to boost a flagging stock market. This follows more than a hundred Chinese companies committing to buybacks or withdrawing share sales in August after China imposed …

More Chinese companies vow share buybacks as market sags further Read More »

By Ariba Shahid KARACHI, Pakistan (Reuters) – The Pakistani government is looking to tame inflation with fuel price cuts and a price-control mechanism, caretaker Prime Minister Anwaar ul Haq Kakar said on Monday. The South Asian country is embarking on a tricky path to economic recovery under a caretaker government after a $3 billion loan …

Pakistan looks to tame high inflation with fuel price cuts – PM Read More »

MANILA (Reuters) – Bayer AG said on Monday it plans to bring its direct-seeded rice programme to the Philippines in 2024, offering farmers an alternative cultivation method touted to be more climate-friendly. Bayer launched the system in India this year and says it can help reduce water use by up to 40%, greenhouse gas emissions …

Bayer to introduce its direct-seeded rice system in the Philippines Read More »

ASTANA (Reuters) -Kazakhstan’s ecology ministry has appealed after a court failed to uphold its $5 billion lawsuit against the operator of the giant Kashagan oilfield, Ecology and Natural Resources Minister Yerlan Nysanbayev said on Monday. The ministry in March sued the field’s operator – a group which includes Shell, Eni, TotalEnergies and Exxon Mobil, over …

Kazakh ministry appeals court ruling against $5 billion Kashagan lawsuit Read More »