Reuters Asia Business

(Reuters) – Shares in SoftBank’s Arm Holdings ARM.O opened 10% above their offer price in their Nasdaq debut on Thursday, valuing the British chip designer at nearly $60 billion in its return to the public markets after seven years. The stock opened at $56.10 per American Depositary Share compared with the initial public offering (IPO) …

SoftBank’s Arm soars in market debut to notch $60 billion valuation Read More »

By Echo Wang and Anirban Sen (Reuters) – SoftBank Group CEO Masayoshi Son was in San Francisco on Wednesday when he joined a call with his bankers in New York to make a final decision about his company’s most valuable asset: chip designer Arm Holdings. Arm’s blockbuster initial public offering (IPO) was oversubscribed by 12 …

How SoftBank played it safe in pricing Arm’s IPO Read More »

WASHINGTON (Reuters) – A group of senior U.S. House Republicans on Thursday urged the Biden administration to crack down on Huawei and Semiconductor Manufacturing International Corp (SMIC) after reports suggested Huawei has developed an advanced smartphone capable of supporting 5G. The lawmakers – including the chairs of the House of Representatives’ Foreign Affairs, Energy and …

House Republican lawmakers urge US crackdown on Huawei, SMIC Read More »

By Anshuman Daga, Yantoultra Ngui and Fanny Potkin SINGAPORE (Reuters) – DBS Group Chief Executive Piyush Gupta said current widespread pessimism about China’s economy was not “overdone” but he was upbeat about India, where the bank plans to triple its business in the next five years. “There’s some real headwinds in China in the short-term”, …

DBS chief says China pessimism not ‘overdone’, upbeat about India Read More »

JAKARTA (Reuters) – Indonesia has asked Chinese carmaker Geely Automotive Holdings to help it build a homegrown electric car by 2025 or 2026, a senior minister said on Tuesday, adding that the automaker has agreed. Geely did not immediately respond to a Reuters request for comment. “I have offered Geely, do you want to make …

Indonesia asks China’s Geely to help build homegrown EV by 2026 Read More »

By Brenda Goh and Ryan Woo SHANGHAI/BEIJING (Reuters) -Beijing on Thursday blasted the launch of a probe by the European Commission into China’s electric vehicle (EV) subsidies as protectionist and warned it would damage economic and trade relations, as shares in Chinese EV makers slipped. European Commission President Ursula von der Leyen announced the investigation …

Beijing blasts ‘protectionist’ EU probe as China EV stocks slip Read More »

SHANGHAI (Reuters) – China’s central bank is expected to boost liquidity while keeping the borrowing cost steady when rolling over its medium-term policy loans on Friday, a Reuters survey showed, after a string of data showed some signs of economic stabilisation. China has already lowered the medium-term policy rate twice since June to stimulate credit …

China’s central bank set to boost liquidity but keep policy rate steady Read More »

MILAN (Reuters) – The sustainable mobility unit of Italy’s Eni and petrochemicals maker LG Chem have teamed up to explore the potential development of a biorefinery in South Korea, the two companies said in a statement on Thursday. The project, which is designed to process around 400,000 tonnes of bio-feedstocks per year, aims to boost …

Italy’s Eni and LG Chem team up for biorefinery plant in South Korea Read More »

By Xinghui Kok and A. Ananthalakshmi KUALA LUMPUR/ISKANDAR PUTERI, Malaysia (Reuters) – As cash-strapped developer Country Garden battles to stave off default, its sprawling $100 billion development in Malaysia has come under scrutiny from creditors even as the Southeast Asian nation dangles financial incentives to lure investments. Billed as a paradise with turtles and white-sand …

‘Seeing is believing’: Country Garden’s Malaysia project in spotlight Read More »