Reuters Asia Business

SHANGHAI/SINGAPORE (Reuters) – Chinese exporters are using a complicated currency swap strategy to avoid converting their dollar earnings into yuan for fear of losing out on potential gains in the U.S. currency, official data and conversations with companies show. China’s state banks are counterparties to some of these swap transactions that allow exporters to exchange …

Exclusive-Chinese exporters using currency swaps to retain dollars as yuan sags Read More »

BANGKOK (Reuters) – Thailand’s economic recovery remained on track in July as private spending increased and the tourism sector expanded on higher foreign tourist arrivals, while exports declined, the central bank said on Thursday. Economic activity going forward would mainly rely on tourism as exports, a key driver of growth, were not expected to improve …

Thailand’s economic recovery on track but exports weigh Read More »

TOKYO (Reuters) -Japanese Prime Minister Fumio Kishida on Thursday set a target to raise the country’s average minimum wage by nearly 50% from current levels in about a decade from now, underscoring his focus on achieving a consumption-driven economic recovery. Kishida said the government will aim to raise the average minimum wage to 1,500 yen …

Japan PM Kishida sets target for raising minimum wage Read More »

TOKYO (Reuters) – A row with China over Tokyo’s decision to release treated radioactive water from the Fukushima nuclear power plant could shave 0.2% off Japan’s real gross domestic product (GDP), estimates by Daiwa Institute of Research showed on Thursday. Japan started releasing treated radioactive water from the wrecked Fukushima nuclear power plant into the …

Row with China over Fukushima release could shave 0.2% off Japan GDP -Daiwa Read More »

By Divya Chowdhury MUMBAI (Reuters) – The Bank of Japan is likely to orchestrate an exit from its easy monetary policy in the second half of next year even if the increases in inflation and wage negotiations this year cannot be sustained, former BOJ policy board member Takahide Kiuchi said on Thursday. The BOJ believes …

BOJ may exit easy monetary policy in second half of 2024 -ex-board member Kiuchi Read More »

By Takaya Yamaguchi and Tetsushi Kajimoto TOKYO (Reuters) -Japan’s budget demands will hit a record for the next fiscal year, exceeding 112 trillion yen ($767 billion), sources told Reuters, as rising interest rates add to debt-servicing costs and military and social security spending rises. The government is saddled with the industrial world’s heaviest debt at …

Japan budget demands hit record as BOJ tweaks raise borrowing costs -sources Read More »

By Yuka Obayashi and Ritsuko Shimizu TOKYO (Reuters) – Nippon Steel Corp, Japan’s top steelmaker, expects profit margins on steel sales in Asia will remain weak through March because of sluggish demand in the world’s top consumer China and in the region, a senior executive said. But the world’s fourth-biggest steelmaker is still on track …

Nippon Steel expects Asia’s steel margins to remain weak – executive Read More »

By Clare Jim HONG KONG (Reuters) -China’s largest private property developer warned on Wednesday of default risks if its financial performance continues to deteriorate, and said it “felt deeply remorseful” for its record loss in the first half. Country Garden posted a net loss between January and June of 48.9 billion yuan ($6.72 billion), versus …

Country Garden warns of default risks, ‘deeply remorseful’ for record loss Read More »