Reuters Asia Business Archives - Page 1367 of 2133

Crypto exchange Coinbase secures Singapore payments licence

2 Oct 2023 2 Oct 2023

By Rae Wee and Elizabeth Howcroft (Reuters) -Cryptocurrency exchange Coinbase has been awarded a full payments licence to operate in Singapore by the city-state’s central bank, the U.S.-based company said on Monday. The Major Payment Institution (MPI) licence, granted by the Monetary Authority of Singapore (MAS), will allow Coinbase to offer digital payment token services …

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Shell company Vertex Tech to buy streaming platform in landmark deal for Singapore

2 Oct 2023 2 Oct 2023

By Adwitiya Srivastava and Yantoultra Ngui (Reuters) -Singapore’s Vertex Technology Acquisition Corp (VTAC) will buy live streaming platform 17LIVE Inc for up to S$925.1 million ($676 million), the special purpose acquisition company (SPAC) backed by state investor Temasek said on Monday. The deal is the first purchase of a private company by a SPAC listed …

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Shareholder proposals gain traction in Japan as activism thrives

2 Oct 2023 2 Oct 2023

By Makiko Yamazaki TOKYO (Reuters) -Shareholder proposals gained more traction in Japan this year as a number of resolutions received greater support, data showed on Monday, building on recent momentum in shareholder activism in the world’s third-largest economy. During the 2023 annual general meeting season through June, a total of 81 shareholder proposals were voted …

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Samsung to manufacture chips from AI chip startup Tenstorrent

2 Oct 2023 2 Oct 2023

By Max A. Cherney (Reuters) – Samsung’s contract chip manufacturing arm picked up a new artificial intelligence chip customer, a Canadian startup called Tenstorrent, the company said on Monday. Tenstorrent is among a number of startups looking to challenge Nvidia, which dominates the market for AI chips. The company produces chips and intellectual property for …

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China Evergrande shares set to resume trade on Tuesday

2 Oct 2023 2 Oct 2023

(Reuters) -China Evergrande Group said on Monday it has applied to the Hong Kong Stock Exchange for trading in its shares to resume on Tuesday, adding there is currently no other inside information related to the company that needs to be disclosed. On Thursday, trading in shares of the embattled Chinese property developer were suspended …

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Explainer-What would Japanese intervention to boost the weak yen look like?

2 Oct 2023 2 Oct 2023

By Leika Kihara TOKYO (Reuters) – Japanese authorities are facing renewed pressure to combat a sustained depreciation in the yen, as investors eye prospects of higher-for-longer U.S. interest rates while the Bank of Japan remains wedded to its super low interest rate policy. Aside from verbal intervention, Japan’s government has several options to stem what …

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Eni boosts Indonesia exposure with big gas discovery

2 Oct 2023 2 Oct 2023

By Francesca Landini MILAN (Reuters) – Italian energy group Eni announced on Monday a big gas discovery in Indonesia, opening the door to a strengthening of its position in the Asian country, where it has been present since 2001 with a portfolio of exploration and production assets. The group said the discovery was from the …

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China’s power sector investments may top $13.7 trillion by 2060

2 Oct 2023 2 Oct 2023

BEIJING (Reuters) – China’s investments in its power sector may exceed 100 trillion yuan ($13.7 trillion) from 2020 to 2060, the official Xinhua news agency reported on Monday, citing utility behemoth State Grid Corp. of China. The timeframe of the investment is in line with President Xi Jinping’s pledge for China to attain net-zero emissions …

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Indonesia court rejects petition to review pro-investment law

2 Oct 2023 2 Oct 2023

JAKARTA (Reuters) – A top court in Indonesia on Monday rejected a petition launched by labour groups to review a controversial pro-investment law passed earlier this year. Workers’ groups had petitioned the Constitutional Court to review the so-called ‘omnibus law’ that streamlines bureaucracy to attract investment, which they said was too pro-business and was formulated …

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As yen nears 150/$, Japan says watching FX moves with ‘strong sense of urgency’

2 Oct 2023 2 Oct 2023

By Tetsushi Kajimoto TOKYO (Reuters) -Japan’s key economic ministers kept investors wary of currency market intervention, warning that authorities were watching with a “strong sense of urgency” as the yen slid closer to the 150 per dollar level on Monday, its weakest in nearly a year. Last September, Japanese authorities conducted their first intervention in …

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Reuters Asia Business﻿﻿

Reuters Asia Business