Reuters Asia Business

By Rocky Swift TOKYO (Reuters) -Fast Retailing Co, owner of clothing brand Uniqlo, forecast 18% growth in annual profit on Thursday, as it plans to expand in key markets including China, anticipating that the rising cost of living will make shoppers more price conscious. Fast Retailing, known for its fleece jackets and inexpensive basics, plans …

Uniqlo owner Fast Retailing sees 18% rise in annual profit, plans more stores in China Read More »

By Ben Blanchard TAIPEI (Reuters) – Taiwan was waiting for a decision by the U.S. government on whether Taiwanese chipmakers will be allowed a waiver extension to supply U.S. chip equipment to their factories in China, Economy Minister Wang Mei-hua said on Thursday. Last October, the Biden administration published a sweeping set of export controls, …

Taiwan says awaiting US announcement on China chip waiver extension Read More »

By Rozanna Latiff KUALA LUMPUR (Reuters) – The Malaysian government on Thursday denied allegations by Goldman Sachs that it had breached a settlement deal over the U.S. bank’s role in the multi-billion dollar 1MDB corruption scandal, after the firm sued Malaysia in a British court. Goldman Sachs in 2020 had agreed to pay $3.9 billion …

Malaysia denies Goldman Sachs’ allegations in 1MDB arbitration suit Read More »

By Uditha Jayasinghe, Jorgelina do Rosario and Leika Kihara COLOMBO/MARRAKECH (Reuters) – Sri Lanka said on Thursday it has reached an agreement with the Export-Import Bank of China to cover about $4.2 billion of the island nation’s outstanding debt while talks with other official creditors stall. Sri Lanka is struggling with its worst financial crisis …

Sri Lanka says it has deal with China EXIM bank to cover $4.2 billion of debt Read More »

By John Geddie TOKYO (Reuters) -Israel’s ambassador to Japan said on Thursday that his host country should be “vigilant” and look at what Hamas was doing with the aid it has previously extended to Palestinians. Hamas militants breached the border fence enclosing the Gaza Strip enclave at the weekend, rampaging through towns and villages and …

Japan should be ‘vigilant’ with Palestinian aid, Israel says Read More »

By Yuka Obayashi TOKYO (Reuters) -Toyota and oil refiner Idemitsu Kosan announced a tie up on Thursday to develop and mass produce all-solid-state batteries, in another example of new partnerships being forged amid the disruptive shift to electric vehicles. The companies aim to commercialise next-generation batteries in 2027-28, followed by full-scale mass production. Toyota has …

Toyota, Idemitsu tie up to mass-produce all-solid-state batteries Read More »

By Ben Blanchard TAIPEI (Reuters) – A Taiwanese minister on Thursday urged the European Union to make “effective” progress on talks on a long-stalled investment deal, as the bloc courts closer links to major chipmakers based on the tech powerhouse island, notably TSMC. Taiwan has repeatedly pushed for the conclusion of a Bilateral Investment Agreement …

Taiwan urges progress on EU investment deal as bloc courts chip firms Read More »

By Selena Li and Summer Zhen HONG KONG (Reuters) -China has for the first time issued a notice prohibiting domestic brokerages and their overseas units from taking on new mainland clients for offshore trading, according to an official document seen by Reuters and confirmed by four sources. New investments by existing mainland clients are also …

China bans new offshore brokerage accounts in capital control move Read More »

By Fanny Potkin and Supantha Mukherjee SINGAPORE/STOCKHOLM (Reuters) – Southeast Asian countries are taking a business-friendly approach to artificial intelligence regulation in a setback to the European Union’s push for globally harmonised rules that align with its own stringent framework. Reuters reviewed a confidential draft of the 10-member Association of Southeast Asian Nations’ (ASEAN) “guide …

Exclusive-Southeast Asia eyes hands-off AI rules, defying EU ambitions Read More »