Reuters Asia Business

SINGAPORE (Reuters) – China will extend a resource tax concession for shale gas development to end-2027 to help boost domestic natural gas supplies, according to a joint statement from the Ministry of Finance and the State Administration of Taxation on Wednesday. The government will continue a 30% concession to the 6% resource tax for developing …

China extends resource tax concession on shale gas to end-2027 Read More »

(Reuters) – Russia’s Transneft signed an agreement with Kazakhstan on Wednesday regarding transit shipments of Kazakh oil for 2024, it said in a statement, providing no further details on the deal. Kazakhstan ships most of its oil via the Caspian Pipeline Consortium, but also sends smaller quantities via Transneft pipelines, including to Germany’s Schwedt refinery. …

Russia’s Transneft, Kazakhstan sign deal on Kazakh oil transit for 2024 Read More »

TOKYO (Reuters) -Mitsubishi Motors has decided to end automobile production in China, the Nikkei newspaper reported on Wednesday. The Japanese automaker is making final arrangements with its local joint venture partner Guangzhou Automobile Group (GAC) for the exit, the newspaper said without citing sources. GAC will likely convert the plant, in Hunan province, to a …

Mitsubishi Motors to exit from China production – Nikkei Read More »

By Yuka Obayashi and Katya Golubkova TOKYO (Reuters) – The Japanese government and Malaysia’s state oil firm Petronas on Wednesday agreed to discuss how to export carbon dioxide (CO2) emitted in Japan to storage sites in Malaysia as part of efforts to tackle climate change. Similar talks could eventually take place with other nations in …

Japan, Petronas to discuss storing Japanese CO2 in Malaysian sites Read More »

BEIJING (Reuters) – Profits at China’s industrial firms extended a double-digit drop for the first eight months, but the pace of declines eased slightly as a flurry of policy support steps has started to stabilise parts of the stuttering economy. The 11.7% year-on-year fall in profits narrowed from a 15.5% contraction for the first seven …

China’s industrial profits extend slump for Jan-Aug, but pace of downturn eases Read More »

LONDON (Reuters) – Canada wants to reach deals with countries that are more “dependable” trading partners than China for the supply and processing of the critical materials needed to power the energy transition, a Canadian minister said on Tuesday. “Much of the critical mineral resources around the world is controlled by China … We are …

Canada sees China as less ‘dependable’ partner on critical minerals, minister says Read More »

FRANKFURT/BERLIN (Reuters) – Germany will no longer grant promotional loans to China from 2026, the Federal Development Ministry (BMZ) confirmed on Tuesday, in the latest measure to reduce Germany’s strategic dependence on China. The German ministry informed the Chinese Ministry of Finance in mid-September of the federal government’s decision to permanently stop granting promotional loans …

Germany’s KfW bank will no longer grant promotional loans to China from 2026 Read More »

PARIS (Reuters) -French carmaker Renault said on Tuesday that it would end its common purchasing agreements with partners Nissan and Mitsubishi with a view to having a more agile structure that could make decisions more quickly. The move is aimed at better adapting to automotive markets that are becoming more regional due to differences in …

Renault ends common purchasing agreement with Nissan and Mitsubishi Read More »

TOKYO (Reuters) – Japan retained its view of a modest recovery in the world’s third-biggest economy, but upgraded its assessment of corporate earnings for the first time since March 2022 even as it warned of risks to growth from a global slowdown and volatile markets. The economy is “recovering moderately”, the government said in its …

Japan maintains modest economic recovery view, raises corp profits assessment Read More »