Reuters Asia Business

BEIJING (Reuters) – China’s central bank and forex regulator met with foreign financial institutions and companies on Monday, as Beijing strives to attract overseas investment to support its recovery. JPMorgan, HSBC, Deutsche Bank and Tesla were among those attending the meeting, according to a statement by the People’s Bank of China (PBOC), in a sign …

China central bank, FX regulator meet foreign firms in capital drive Read More »

By Heekyong Yang SEOUL (Reuters) -Hyundai Motor Co and a union representing its South Korean workforce on Monday sealed a wage deal that will boost annual pay by about 12%, avoiding a strike and production losses at the company’s biggest manufacturing base. The union, one of the biggest in South Korea with more than 44,000 …

Hyundai Motor’s South Korea union accepts 12% wage hike deal Read More »

By Stephen Nellis (Reuters) – UltraSense Systems, a Silicon Valley startup that makes a chip that can replace mechanical buttons, said on Monday that it has signed a deal with South Korea’s Mobase Electronics to supply chips in cars due to hit the market next year. UltraSense makes a chip that uses ultrasound waves to …

Chip startup UltraSense enters deal with Korean automotive supplier Read More »

By Kitiphong Thaichareon and Panarat Thepgumpanat BANGKOK (Reuters) – Thailand’s new cabinet approved on Monday higher budget spending of 3.48 trillion baht ($97.64 billion) for fiscal year 2024, along with a larger budget deficit of 693 billion baht, the deputy finance minister said on Monday. The bigger allocation comes as the new government, which took …

Thai cabinet approves higher budget for fiscal 2024, aiming to boost economy Read More »

BEIJING (Reuters) – Starbucks has promoted Molly Liu to executive vice president and co-chief executive officer of Starbucks China, the company said on Monday. The promotion will become effective on Oct. 2, the company said. Liu will co-lead Starbucks business in China with Belinda Wong, chairwoman and CEO of Starbucks China. Liu has served as …

Starbucks promotes Molly Liu to co-CEO of Starbucks China Read More »

BEIJING (Reuters) – The involvement of two Chinese state-owned financial firms in Zhongrong International Trust Co’s operations and management may diffuse risk at the troubled shadow bank but does little to ease concerns about missed payments, analysts and investors said. The shadow bank, which traditionally had sizable real estate exposure, missed payments on dozens of …

Chinese state firms’ help to troubled shadow bank does little to address investor concerns Read More »

By Kevin Krolicki and Chen Aizhu SINGAPORE (Reuters) – Fully electric refrigerated trucks for delivering food and pharmaceuticals are expected to give a Singapore-based startup the edge to crack into the crowded Chinese electric vehicle (EV) market. Singauto Technology will unveil its first EV cold storage truck model at an event in Beijing on Tuesday …

Refrigerated trucks may give Singapore startup edge into China EV market Read More »