Reuters Asia Business

By Scott Murdoch, Clare Jim and Xie Yu HONG KONG (Reuters) -Country Garden warned on Tuesday about its inability to meet offshore debt obligations, potentially joining a growing list of Chinese developers that have defaulted and setting the stage for one of the country’s biggest debt restructurings. Companies accounting for 40% of Chinese home sales …

Country Garden says can’t meet all offshore debt payments, setting stage for revamp Read More »

LONDON (Reuters) – China-exposed European stocks rose on Tuesday after Bloomberg reported China is looking to increase its budget deficit for 2023, part of a new round of stimulus to help the economy. Miners Anglo American , Antofagasta and Glencore, and financial services companies Standard Chartered and Prudential all rose 3-5%. Stephane Ekolo, global equity …

China-exposed European stocks rise after report of new stimulus Read More »

(Reuters) – China is looking to increase its budget deficit for 2023 as the government prepares to bring a new round of stimulus to help the economy meet the government’s annual growth target, Bloomberg News reported on Tuesday citing people familiar with the matter. The government’s policymakers are weighing the issuance of at least 1 …

China considers new stimulus to meet growth target – Bloomberg News Read More »

By Andrea Shalal MARRAKECH, Morocco (Reuters) – The International Monetary Fund on Tuesday cut its growth forecasts for China and the euro area and said overall global growth remained low and uneven despite what it called the “remarkable strength” of the U.S. economy. The IMF left its forecast for global real GDP growth in 2023 …

IMF says global economy ‘limping along,’ cuts growth forecast for China, euro area Read More »

By Gaurav Dogra (Reuters) – Asian equities suffered massive foreign outflows in September, hit by worries about interest rates remaining higher for a prolonged period in the United States and a surge in Treasury yields. Data from stock exchanges in Taiwan, India, South Korea, Indonesia, the Philippines, Thailand and Vietnam showed foreigners disposed of a …

Foreign outflows rock Asian equities in September amid rate concerns Read More »

By Danial Azhar KUALA LUMPUR (Reuters) – Malaysia is expected to make subsidy cuts for the well-off and provide cash aid for the needy as part of its budget plan for 2024, prioritising support for low-income households amidst a global slowdown and fiscal strains. Public finances are tight for the export-driven Southeast Asian economy, whose …

Malaysia likely to cut subsidies in 2024 budget for fiscal strength Read More »

By Stephen Nellis (Reuters) – The chief executive of RISC-V International said on Monday that possible government restrictions on the open-source technology will slow down the development of new and better chips, holding back the global technology industry. The comments come after Reuters last week reported that a growing group of U.S. lawmakers are calling …

RISC-V group says restrictions on open technology would slow innovation Read More »

By Sam Nussey TOKYO (Reuters) – The European Union sees “convergence” with Japan on thinking about generative artificial intelligence (AI), a senior official said on Monday. “I see a lot of convergence in how we look at AI and generative AI,” European Commission Vice-President for Values and Transparency Vera Jourova told Reuters in an interview. …

EU sees ‘convergence’ with Japan on AI – official Read More »