Reuters Asia Business

(Reuters) – China Evergrande Group Chairman Hui Ka Yan is being investigated on suspicion of transferring assets offshore while the indebted property developer struggles to complete unfinished projects, the Wall Street Journal reported on Monday. Evergrande has been working to get creditors’ approval to restructure its offshore debt but the process grew more complicated last …

Evergrande chairman investigated over offshore asset transfers – WSJ Read More »

KARACHI, Pakistan (Reuters) – Pakistan’s inflation rate clocked in at 31.4% year-on-year, rising from 27.4% in August, data from the statistics bureau showed on Monday, as the cash-strapped nation reels from high fuel and energy prices. On a month-on-month basis, inflation climbed 2% for September, compared to an increase of 1.7% in August. Inflation during …

Pakistan’s Sept CPI +31.4% y/y – statistics bureau Read More »

KUALA LUMPUR (Reuters) – Malaysia’s agricultural and food security ministry on Monday said it would provide a subsidy of 950 ringgit ($201.78) per ton for imported white rice in the states of Sabah and Sarawak from Oct. 5. The ministry also asked the Federal Agricultural Marketing Authority to increase distribution of local white rice to …

Malaysia announces subsidy for imported rice in 2 states Read More »

By Satawasin Staporncharnchai and Chayut Setboonsarng BANGKOK (Reuters) -Thailand’s Prime Minister Srettha Thavisin met the governor of its central bank on Monday, less than a week after an unexpected hike in interest rates seemed to clash with government efforts to stimulate the economy. Earlier in the day Srettha had reiterated plans to inject 560 billion …

Thai PM touts stimulus plans, meets central bank chief after surprise rate hike Read More »

TOKYO (Reuters) – Japanese trading house Sojitz and the country’s top refiner, Eneos, have launched a large-scale solar power plant in Queensland, Australia, the two companies said in a joint statement on Monday. Japanese companies are investing in renewable energy projects worldwide to diversify their portfolios to meet “net zero” targets and bring overseas experience …

Japan’s Sojitz, Eneos launch large-scale solar power plant in Australia Read More »

MANILA (Reuters) – The Philippines plans to issue its maiden sukuk bonds by the end of November, its finance secretary said, as it seeks to develop alternative funding sources for its budget. Finance Secretary Benjamin Diokno, who last month said he hoped to raise $1 billion from the maiden offer, said the government will target …

Philippines eyes maiden sukuk issue in November Read More »

SHANGHAI (Reuters) – U.S. automaker Tesla on Sunday released an updated version of its Model Y in China, with minor changes to the vehicle’s exterior and interior. The changes include a new wheel design, according to a post by Tesla’s official WeChat account. The starting price in China for the Model Y, the company’s global …

Tesla launches updated Model Y in China, keeps starting price unchanged Read More »

SEOUL (Reuters) -South Korea’s exports slowed their fall in September, in contrast to market expectations, marking the mildest decline in a yearlong downturn, a hopeful sign for the global economy from the bellwether industrial economy. Overseas sales by Asia’s fourth-largest economy fell 4.4% from a year earlier to $54.66 billion, trade data showed on Sunday, …

South Korea Sept exports fall at mildest pace in 12 months Read More »

SHANGHAI (Reuters) – China’s new home prices rose slightly in September, breaking a four-month decline, data showed on Sunday, as developers sped up launches to take advantage of a recent slew of support measures. Prices rose 0.05% on average from the previous month after falling since May, according to a survey by China Index Academy, …

China new home prices tick up in Sept, ending four-month decline – survey Read More »