Reuters Asia Business

South Korean firms get indefinite waiver on US chip gear supplies to China

9 Oct 2023

By Joyce Lee SEOUL (Reuters) -Samsung Electronics and SK Hynix will be allowed to supply U.S. chip equipment to their China factories indefinitely without separate U.S. approvals, South Korea’s presidential office and the companies said on Monday. The U.S. had been expected to extend a waiver granted to the South Korean chipmakers on a requirement …

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Deloitte expands as PwC Maldives, Sri Lanka network firms exit – memo

9 Oct 2023

BENGALURU (Reuters) -Accounting giant Deloitte is acquiring some of rival PricewaterhouseCoopers’ (PwC) Maldives and Sri Lanka network firms, according to a Deloitte memo seen by Reuters, strengthening the company’s presence in the South Asia region. After the deal, one of the largest such combination deals in the region, Deloitte will have 28 partners and 800 …

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GSK signs shingles vaccine deal with China’s Zhifei for around $3 billion

9 Oct 2023

By Maggie Fick and Andrew Silver LONDON/SHANGHAI (Reuters) – China’s largest vaccines company Zhifei will pay British drugmaker GSK 2.5 billion pounds ($3.05 billion) for the exclusive rights to distribute GSK’s shingles vaccine in the world’s No.2 pharmaceuticals market. The deal is one of a series of moves by western pharmaceutical firms to seize a …

GSK signs shingles vaccine deal with China’s Zhifei for around $3 billion Read More »

China’s Country Garden eyes debt deal, Evergrande creditors anticipate liquidation

9 Oct 2023

By Clare Jim and Scott Murdoch HONG KONG (Reuters) -China’s Country Garden may announce a restructuring of its offshore debt soon, local media reported, while bondholders of embattled peer China Evergrande Group raised concerns about a possible liquidation as its debt plans floundered. Country Garden, which missed two dollar interest payments last month, has two …

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Arm’s shares get helping hand as IPO banks weigh in with ratings

9 Oct 2023

By Aditya Soni and Roshan Abraham (Reuters) -Shares of Arm Holdings rose 3% on Monday after a wave of “buy” ratings from Wall Street analysts who said that the chip designer’s dominance in the smartphone market and potential for expansion into data centers could power earnings growth. The flurry of recommendations marked the end of …

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Huawei-backed Aito says gets 50,000 orders for M7 car since relaunch

9 Oct 2023

SHENZHEN, China (Reuters) – Huawei-backed electric vehicle (EV) brand Aito has received more than 50,000 orders for its revamped M7 model within the first 25 days since it went on sale, the company said. Richard Yu, Huawei’s Smart Car CEO, announced the milestone on his Weibo social media account on Saturday. The orders, which required …

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China’s Sept new yuan loans seen jumping on policy boost- Reuters poll

9 Oct 2023

BEIJING (Reuters) – China’s new yuan lending is expected to jump in September after a surprising surge in August, a Reuters poll showed, as the central bank strives to boost the economy’s recovery amid tepid demand both at home and abroad. Chinese banks are forecast to have extended 2.5 trillion yuan ($342.63 billion) in net …

China’s Sept new yuan loans seen jumping on policy boost- Reuters poll Read More »

Singapore banks sharpen scrutiny after $2 billion money laundering scandal -sources

9 Oct 2023

By Chen Lin and Yantoultra Ngui SINGAPORE (Reuters) – Banks in Singapore are taking longer than usual to perform due diligence on clients and closing accounts in some cases, sources said, as procedures tighten after the financial hub’s biggest money laundering scandal, which involved $2 billion in assets. Banks such as Oversea-Chinese Banking Corp Ltd …

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Thailand sticking to digital wallet policy, fiscal discipline – deputy Finance Minister

9 Oct 2023

BANGKOK (Reuters) – Thailand’s government will maintain fiscal discipline and forge ahead with its digital wallet stimulus policy, a deputy finance minister said on Monday, amid concerns from dozens of experts about its viability and efficiency. The policy, which will involve about $15 billion in total, disbursed as 10,000 baht ($269.61) to the digital wallets …

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Shares in Haitong International Securities double on privatisation plan

9 Oct 2023

SHANGHAI/HONG KONG (Reuters) – Shares in Hong Kong-listed Haitong International Securities Group nearly doubled on Monday on a proposal by its majority owner Shanghai-based Haitong Securities to privatise the unit. Haitong Securities is offering up to HK$3.5 billion ($443 million) for the 26.6% of Haitong International Securities it does not currently own. Haitong international Securities …

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