Reuters Asia Business

Hillhouse, others set to invest $630 million in China’s Giant Biogene -sources

8 Dec 2021

BEIJING/HONG KONG (Reuters) – China’s Xian Giant Biogene Technology has embarked on a fundraising round that will likely see Hillhouse Capital Group and others buy at least 4 billion yuan ($630 million) worth of shares, two people familiar with the matter said. The share sale, a combination of new and existing shares, will value the …

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Hyundai to invest $530 million to launch six EVs in India by 2028

8 Dec 2021

By Aditi Shah NEW DELHI (Reuters) – South Korea’s Hyundai Motor Co said on Wednesday it planned to invest 40 billion rupees ($530 million) to launch six electric vehicles in India by 2028, making a clean driving push in a country with some of the world’s most polluted cities.  Hyundai, India’s second largest carmaker, will …

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Meta offers deferral program for employees unready to return to office

8 Dec 2021

(Reuters) – Meta Platforms Inc said on Tuesday it will fully reopen its U.S. offices on Jan. 31 next year while giving its employees an opportunity to delay their scheduled return by three to five months. The social media giant’s new “office deferral program” will ensure that its employees have flexibility in returning back to …

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China’s HNA transfers airline management to Fangda Group

8 Dec 2021

BEIJING (Reuters) – China’s HNA Group Co Ltd said it has transferred management of its core aviation business, including Hainan Airlines Holding Co Ltd, to strategic investor Liaoning Fangda Group Industrial Co Ltd, effective Wednesday. Gu Gang, an official appointed by the local government to resolve years-long debt risk at HNA, will no longer serve …

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Chinese developer Sunac sells $530 million American depositary shares of KE Holdings

8 Dec 2021

HONG KONG (Reuters) – Sunac China Holdings Ltd said on Wednesday it had sold $530 million worth of American depositary shares (ADS) of Chinese housing transactions and services platform KE Holdings Inc for raising working capital. The Chinese property developer had sold an aggregate 26.71 million ADS of KE Holdings, equivalent to 80.14 million KE …

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Omicron threatens Asia oil demand just as pricing favours Atlantic crude

8 Dec 2021

By Noah Browning and Florence Tan LONDON/SINGAPORE (Reuters) -Recent shifts in the relative price of different crude grades have dealt oil exporters from the vast Atlantic Ocean basin the best chance in months to sell to top consuming region Asia, but sales have been sluggish as COVID-19 fears cool demand. The Omicron coronavirus variant has …

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Omicron sets back airline industry’s recovery hopes

7 Dec 2021

By Jamie Freed, Allison Lampert and Rajesh Kumar Singh (Reuters) – New travel restrictions prompted by the Omicron coronavirus variant have set back the nascent recovery in international flights, creating delays and headaches in some regions, according to airline and airport officials. The flurry of new testing rules and border closings has raised concerns ahead …

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Japan manufacturers’ sentiment rises to 4-month high in Dec – Reuters Tankan

7 Dec 2021

By Kantaro Komiya TOKYO (Reuters) – Japanese manufacturers’ business confidence index rose to a four-month high in December as supply constraints began to ease, the Reuters Tankan showed on Wednesday, offering policymakers some hope the economy was headed for a moderate recovery. Sentiment among non-manufacturers also improved in December, suggesting consumption was gradually recovering after …

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Apple’s iPhone 13 production fell 20% in Sept-Oct – Nikkei

7 Dec 2021

(Reuters) – Production of Apple Inc’s flagship iPhone 13 smartphones fell 20% short of previous plans in September and October, Nikkei reported on Wednesday, citing sources familiar with the matter. The holiday-quarter is one of the busiest for the company as many consumers seek to buy its products as gifts, weeks ahead of Christmas. However, …

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Nickel Mines to buy 70% stake in Indonesia project for $525 million

7 Dec 2021

(Reuters) – Australia’s Nickel Mines Ltd said on Wednesday it would acquire a 70% stake in the Oracle Nickel project in Indonesia in a $525 million deal, as it sets its eyes on becoming a global top-10 producer of the commodity. Under the deal, Nickel Mines will pay investment firm Shanghai Decent Investment (Group) Co …

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