Reuters Asia Business

By Andy Bruce LONDON (Reuters) -Japanese industrial company Daikin, the market leader for heat pumps in Europe, said Prime Minister Rishi Sunak’s decision to push back Britain’s plans to tackle climate change will undermine confidence and international investment. Daikin, the world’s largest manufacturer of air conditioning equipment, headquartered in Osaka, said Sunak’s decisions would make …

Japan’s Daikin says new UK net zero plan will undermine investment and growth Read More »

By Chavi Mehta and Phuong Nguyen (Reuters) -Vietnamese electric-vehicle maker VinFast said on Thursday its revenue more than doubled in the second quarter on higher deliveries to domestic customers, in its first results since its market debut last month. VinFast, backed by Vietnam’s largest conglomerate Vingroup, garnered a valuation of about $85 billion – higher …

VinFast quarterly revenue surges in first report since market debut Read More »

By Kevin Yao BEIJING (Reuters) -China’s economic slowdown is polarising government advisers over the best way forward, with advocates of structural reforms now emerging from the shadows in a challenge to others calling for more state spending to shore up faltering growth. The rare debate among advisers, who influence policy-making but do not wield direct …

Analysis-China’s economic woes embolden calls for deeper reforms Read More »

By Enrico Dela Cruz (Reuters) – Prices of iron ore, steel and steelmaking ingredients in China slumped on Thursday, as risk sentiment was hit after the U.S. Federal Reserve signalled another rate hike by year-end and tighter monetary policy through 2024. Traders at the same time opted to wait for details of China’s pledge to …

China ferrous futures slump as risk-off mood dominates Read More »

By Gayatri Suroyo and Stefanno Sulaiman JAKARTA (Reuters) – Indonesia’s central bank left interest rates unchanged for an eighth straight month on Thursday, keeping its focus on making sure the rupiah remains stable and as inflation has stayed within target. Bank Indonesia (BI) held the seven-day reverse repurchase rate steady at 5.75%, where it has …

Indonesia central bank holds rates, keeps focus on rupiah Read More »

TAIPEI (Reuters) -Taiwan’s central bank cut its 2023 economic growth forecast for the export-reliant economy due to sluggish global demand though predicted better growth next year, while it kept rates on hold on Thursday as inflationary pressures cool. Taiwan is a major producer of semiconductors used in everything from cars to smartphones, but with global …

Taiwan cuts GDP outlook on weak global demand, keeps rates unchanged Read More »

BEIJING (Reuters) – China’s Beijing Municipal Commerce Bureau issued draft rules aimed at promoting and regulating foreign investments in the capital city. The bureau also said it would support authentic capital inflows and repatriations from foreign investors freely with no delays, according to an online statement. (Reporting by Beijing Newsroom; Editing by Himani Sarkar)

HONG KONG (Reuters) – UBS has cut around 70% of the Hong Kong-based staff headcount at Credit Suisse’s securities research unit, two sources with direct knowledge of the matter said, as the two Swiss banking giants move ahead with integration of operations. UBS’ takeover of Credit Suisse, the biggest bank merger since the 2008 global …

UBS cuts nearly 70% Credit Suisse researchers in Hong Kong-sources Read More »

By Neil Jerome Morales and Mikhail Flores MANILA (Reuters) – The Philippine central bank kept its key interest rate steady at 6.25% on Thursday, as expected, but signaled its readiness to tighten monetary policy at its next meeting in November if inflation pressures persist. “A rate hike is on the table for November. How big …

Philippine cbank keeps rates steady but sends hawkish signal Read More »