Reuters Asia Business

BEIJING (Reuters) – China’s economy is resilient and has not collapsed, the Chinese foreign ministry said on Tuesday, rejecting claims from the West that its economy is faltering and could cause wider problems. Officials from countries including Australia and the United States have publicly raised concerns about the world’s second-largest economy. U.S. President Joe Biden …

China says its economy is ‘resilient’, rejects Western concerns Read More »

SHANGHAI/BEIJING (Reuters) -China’s largest private property developer Country Garden won approval from its creditors to extend repayments on six onshore bonds by three years, two sources familiar with the matter said on Tuesday, sending shares up as much as 10%. The bondholder reprieve came as investors are closely monitoring whether China’s latest government stimulus measures …

Country Garden secures bondholder reprieve, sources say; shares soar Read More »

By Ariba Shahid KARACHI (Reuters) – Pakistan’s central bank is expected to hike rates when it meets to decide on policy on Thursday as it seeks to tackle sky-high inflation and bolster diminished foreign exchange reserves that have sent the rupee to record lows. Economic and political crises have seen the State Bank of Pakistan …

Crisis-ridden Pakistan likely to raise rates, hike of at least 150 bps seen : Reuters poll Read More »

By Yoshifumi Takemoto and Leika Kihara TOKYO (Reuters) -Influential ruling party lawmaker Hiroshige Seko signalled his abiding preference for an ultra-loose monetary policy on Tuesday, following hawkish comments by Japan’s central bank chief that pushed up the yen and bond yields. In an interview on Saturday, Bank of Japan Governor Kazuo Ueda said the central …

Japan ruling party heavyweight reiterates preference for easy policy after BOJ hints at change Read More »

By Andrew Hayley BEIJING (Reuters) – Venezuela President Nicolas Maduro has arrived in Beijing for a visit that will likely feature energy and debt repayment talks against a backdrop of China’s souring relations with the West. China, the world’s largest importer of crude oil, is Venezuela’s largest creditor and a major player in the country’s …

Factbox-China’s oil trade and investment in Venezuela Read More »

SINGAPORE (Reuters) – GlobalFoundries, the world’s third-largest contract chipmaker, opened a $4 billion semiconductor fabrication plant in Singapore on Tuesday, as part of a major global manufacturing expansion. The U.S chipmaker’s new 23,000 square meters (248,000 square feet) facility will be able to produce 450,000 300 millimetre wafers per year at full capacity, expected by …

GlobalFoundries opens $4 billion Singapore chip fabrication plant Read More »

By Vivek Mishra BENGALURU (Reuters) – China’s economy will grow less than previously thought this year and next as a struggling property market dogs what was once the world’s growth engine, according to a Reuters poll of economists who said the risks were skewed to further downgrades. The world’s second-largest economy has been struggling after …

China 2023 GDP growth forecast cut to 5.0%, 4.5% in 2024 – Reuters poll Read More »