Reuters Asia Business

TOKYO (Reuters) – Japan’s Chubu Electric Power said on Thursday it will buy a stake in U.S. NuScale Power from the Japan Bank for International Cooperation (JBIC) as it bets on small modular nuclear reactors to help combat climate change. The move comes after Japan made a major nuclear power policy shift last year to …

Japan’s Chubu Electric to buy stake in NuScale Power from JBIC Read More »

By Xie Yu and Davide Barbuscia HONG KONG/NEW YORK (Reuters) – Creditors of Country Garden Holdings are doubtful the Chinese developer will be in a position to service debt that will come due later this year without liquidity support, after it averted a catastrophic default this week at the last minute. With its financial situation …

Analysis-Default dodged, but Country Garden’s upcoming debt payments stir worries Read More »

By Daniel Leussink TOKYO (Reuters) – James Kuffner, the chief executive of Toyota Motor’s autonomous driving technology unit Woven by Toyota, will step down from his post effective Oct. 1, the subsidiary said in a statement on Thursday. Kuffner will be appointed a senior fellow at a new unit that Toyota Motor will establish in …

Toyota mobility tech unit CEO Kuffner to leave post Read More »

By Aditya Kalra and Aditi Shah NEW DELHI (Reuters) – Singapore’s investment firm Temasek led a $140 million funding round in India’s Ola Electric at a valuation of $5.4 billion, two sources with the direct knowledge said, the latest funding for the e-scooter maker before its initial public offering. The investment round has been closed …

Temasek leads $140 million Ola Electric funding at $5.4 billion valuation – sources Read More »

By Rozanna Latiff and Danial Azhar KUALA LUMPUR (Reuters) – Malaysia’s central bank on Thursday kept its benchmark interest rate unchanged for the second straight meeting, as economic growth and inflation continued to ease. Bank Negara Malaysia (BNM) maintained its overnight policy rate (OPR) at 3.00%, in line with market expectations, and following an unexpected …

Malaysia central bank keeps rates on hold as inflation, growth cool Read More »

By Leika Kihara KOCHI, Japan (Reuters) -Bank of Japan policymaker Junko Nakagawa on Thursday stressed the need to maintain ultra-loose monetary policy and set a high hurdle for ending negative interest rates, suggesting the bank would be in no rush to phase out its massive stimulus programme. An increasing number of Japanese companies were raising …

BOJ policymaker calls for keeping ultra-easy policy, sets high bar on exit Read More »

By Stefanno Sulaiman JAKARTA (Reuters) – The Indonesian parliament’s budget committee and the government on Thursday agreed on key assumptions for President Joko Widodo’s 2024 budget and tentatively raised next year’s spending to 3,325.1 trillion rupiah ($216.83 billion). Widodo had originally proposed to spend 3,304.1 trillion rupiah next year versus the 2023 outlook at 3,123.7 …

Indonesia plans to raise 2024 budget to $216 billion, expects more oil revenues Read More »

JAKARTA (Reuters) – Indonesian state utility Perusahaan Listrik Negara (PLN) will need up to $172 billion of investment in renewable energy projects and upgrades for its electricity grid to add 60 gigawatt of new renewable power capacity, a director said on Thursday. PLN aims to build 32 GW of new renewable power capacity as a …

Indonesia needs $172 billion investment to increase renewable energy use- state utility Read More »