Reuters Asia Business

By Qiaoyi Li and Brenda Goh BEIJING (Reuters) – U.S. automaker Tesla sold 84,159 China-made electric vehicles (EVs) in August, a 9.3% rise from a year earlier, data from the China Passenger Car Association (CPCA) showed on Monday. Sales of China-made Model 3 and Model Y cars rose 30.9% from a month earlier. Chinese rival …

Tesla’s China-made EV deliveries rise 9.3% y/y in August Read More »

By Chen Lin SINGAPORE (Reuters) -Singapore named Chia Der Jiun as the new chief of its central bank on Monday, replacing Ravi Menon, the city state’s longest-serving central banker, the Monetary Authority of Singapore (MAS) said. The appointment will take effect from Jan 1. next year, the bank said in a statement. Chia, a permanent …

Singapore picks Chia Der Jiun as central bank head from next year Read More »

By Selena Li HONG KONG (Reuters) – HSBC Holdings said on Monday its insurance brokerage unit in China had secured a license to sell a range of investment fund products in the country, helping towards its long-term drive to expand there. The banking group reiterated its commitment to growth in China in its recent earnings …

HSBC insurance brokerage unit secures fund sales licence in China Read More »

SHANGHAI (Reuters) – Shares on China’s two-year-old Beijing stock exchange recorded their best daily performance ever on Monday, after the country announced reform measures to improve the market that focuses on smaller innovative tech firms. The Beijing Stock Exchange 50 Index closed up 5.9%, after the China Securities Regulatory Commission (CSRC) said on Friday it …

Beijing exchange shares log record daily jump after reform measures Read More »

By Victoria Waldersee MUNICH (Reuters) -CATL will produce its upcoming fast-charging Shenxing battery at its plants in Germany and Hungary alongside China, principal engineer Gao Pengfei said at the IAA Munich car show on Monday. The battery will be mass-produced in China from late 2023 and available in electric vehicles from 2024. Gao declined to …

CATL to produce fast-charging Shenxing battery in Germany, Hungary Read More »

SHENZHEN, China (Reuters) – Huawei Technologies has opened a cloud data centre in the Saudi capital Riyadh in a bid to grow its online service offerings in the Middle East and North Africa, the Chinese tech giant said on Monday. The cloud data centre in Riyadh, Huawei’s 30th worldwide, will support government services for the …

China’s Huawei opens cloud data centre in Saudi Arabia in regional push Read More »

By Enrico Dela Cruz (Reuters) – Iron ore futures clung to modest gains on Monday amid optimism over top global steel producer China’s policy support for its struggling property sector. China is set to take further action, including relaxing home-purchase restrictions, as it scrambles to tackle a deepening crisis in its debt-riddled property sector, Reuters …

Iron ore gains as China property stimulus in focus Read More »

By Sophie Yu and Brenda Goh BEIJING (Reuters) -Kweichow Moutai and coffee brand Luckin Coffee on Monday launched in China a latte advertised as containing the fiery Chinese spirit baijiu, as the Chinese luxury liquor maker aims to pull in younger consumers. The 38 yuan ($5.23) “sauce-flavoured latte”, which Luckin discounted to 19 yuan on …

China’s Moutai, Luckin launch alcohol-tinged latte to woo young Chinese consumers Read More »

By Trixie Yap and Muyu Xu SINGAPORE (Reuters) -Global crude oil supplies are expected to improve in the next six to eight weeks because of refinery maintenance, although sour crude will stay tight, said Russell Hardy, chief executive of the world’s largest independent oil trader, Vitol. Speaking at the APPEC conference in Singapore on Monday, …

APPEC-Global crude oil supplies to improve on refinery maintenance -Vitol exec Read More »