Reuters Asia Business

By Stephen Nellis (Reuters) -Qualcomm said on Monday it had signed a deal with Apple to supply 5G chips until at least 2026, at a time when the iPhone maker faces increased challenges in China and looks to reinforce its supply chains elsewhere. The deal extends a relationship worth billions of dollars to Qualcomm for …

Qualcomm to supply Apple with 5G chips until 2026 under new deal Read More »

By Katherine Masters NEW YORK (Reuters) – More than a dozen investors are calling on Nike to pay garment workers in Cambodia and Thailand that a labor rights group said lost wages after COVID-19 factory shutdowns, according to a Sept. 7 letter to Nike’s CEO John Donahoe seen by Reuters. The investors want Nike to …

Nike faces calls to pay garment workers ahead of annual shareholder meeting Read More »

By Noel Randewich and Hannah Lang (Reuters) -Retail traders getting their first bite at Arm Holdings’ highly anticipated public offering when the British chip designer begins trading this week should beware: individual investors often get burned when they jump on hot listings. Arm’s goal of raising around $5 billion in New York in what might …

Analysis-For retail investors, jumping on Arm’s blockbuster IPO is a risky business Read More »

(Reuters) – India on Monday imposed an anti-dumping duty on some Chinese steel for five years, according to a government notification. On Sept 4, India’s steel secretary, Nagendra Nath Sinha, said New Delhi was monitoring the steel imports situation after the steel industry raised concerns over potential dumping by Chinese sellers. During April-July, China was …

India imposes anti-dumping duty on some Chinese steel for 5 years Read More »

WASHINGTON (Reuters) -China’s economic problems are more likely to affect the region than the United States, U.S. Deputy Treasury Secretary Wally Adeyemo said on Monday, a day after President Joe Biden called China’s economic situation a “crisis.” Beijing has the resources to deal with its economy short-term but must face longer-term structural economic issues such …

China’s economic headwinds could hit region, US Treasury deputy says Read More »

BEIJING/SHANGHAI (Reuters) -China’s central bank is tightening its scrutiny of bulk dollar purchases by domestic firms, three sources with direct knowledge of the matter said on Monday, at a time when the Chinese currency faces mounting depreciation pressure. Companies that need to purchase $50 million or more will now need approval from the People’s Bank …

Exclusive-China’s central bank to scrutinise bulk dollar purchases – sources Read More »

HONG KONG (Reuters) – HSBC Holdings will raise its mortgage rates in Hong Kong by a maximum of 50 basis points, a spokesperson for the bank said on Monday, as it tries to maintain its profit margin amid higher interest rates. New mortgage loans linked to the Hong Kong Interbank Offered Rate (HIBOR) from HSBC will …

HSBC to hike mortgage rates in Hong Kong by up to 50 bps Read More »

KUALA LUMPUR (Reuters) -Malaysia will develop a policy to ban exports of “rare earth raw materials” to avoid exploitation and loss of resources, Prime Minister Anwar Ibrahim said on Monday. Malaysia is home to just a fraction of the world’s rare earth reserves with 30,000 metric tons, data from the United States Geological Survey in …

Malaysia to ban exports of rare earths Read More »

BEIJING (Reuters) – Western sanctions against Russia are boosting demand for China-made cars, and this surge could continue as long as these sanctions remain in place, an executive with China’s auto association said on Monday. Chinese automakers are also seeking to assemble vehicles in Russia and localise production, Xu Haidong, deputy chief engineer at the …

Western sanctions to sustain surge in China auto exports to Russia-CAAM Read More »