Reuters Asia Business

By Heekyong Yang and Joseph White SEOUL (Reuters) -Stellantis and South Korea’s Samsung SDI Co Ltd on Wednesday said they will build a second electric vehicle battery plant in Kokomo, Indiana, the hometown of United Auto Workers President Shawn Fain. The union leader is currently fighting with the Detroit Three automakers over union representation of …

Samsung SDI, Stellantis choose Indiana for second joint EV battery plant Read More »

JAKARTA (Reuters) -Flag carrier Garuda Indonesia said on Tuesday it has completed a test flight using a palm oil-blended jet fuel on a Boeing 737-800NG aircraft. The plane flew more than 130 km (80 miles) from the capital Jakarta to Pelabuhan Ratu in the southern part of Java island in a one-hour return flight last …

Indonesia’s Garuda conducts test flight with palm oil-blended jet fuel Read More »

DUBAI (Reuters) – Saudi Aramco is in talks to buy a 10% stake in Shandong Yulong Petrochemical Co, it said on Wednesday, a deal that would further boost the state oil giant’s investments in China. Shandon Yulong is building a refinery complex that can process 400,000 barrels of crude a day in eastern China’s Shandong …

Saudi Aramco in talks to buy 10% stake in Chinese refiner Yulong Petrochemical Read More »

By Karen Freifeld and Alexandra Alper (Reuters) – A U.S. rule that restricts shipments of certain advanced chips to China has been revised and is under final review, according to a government posting, suggesting that further curbs on chips that can be used for artificial intelligence are coming soon. Reuters exclusively reported last week that …

Rule curbing AI chip exports to China under final review Read More »

By Clare Jim, Xie Yu and Davide Barbuscia HONG KONG/NEW YORK (Reuters) – As more Chinese property developers move towards restructuring billions of dollars of debt, their offshore creditors are expected to face another setback – the prospects of revamp terms being tightened due to a worsening outlook for the county’s real estate sector. So …

China property creditors face worsening restructuring terms as sector recovery hopes sour Read More »

(Reuters) – Japan’s government is considering extending subsidies to curb gasoline prices beyond January next year, Kyodo news agency reported on Wednesday, a move that will likely moderate the pace of inflation in the world’s third-largest economy. The subsidies will last at least until March next year and could be sustained beyond April depending on …

Japan’s government considering extending fuel subsidies -Kyodo Read More »

(Reuters) – Electric-vehicle maker VinFast Auto said on Wednesday it would acquire a 99.8% stake in battery maker VinES from its founder Pham Nhat Vuong as it seeks to ramp up its integration in the production value chain and competitive advantage. VinFast, which was backed by Vietnam’s largest conglomerate Vingroup, said the strategic acquisition of …

EV maker VinFast to acquire its battery maker sibling Read More »