Reuters Asia Business

By A. Ananthalakshmi and Yantoultra Ngui KUALA LUMPUR/SINGAPORE (Reuters) -Embattled Chinese developer Country Garden said on Monday its $100-billion project in Malaysia was proceeding as planned and it had sufficient assets, despite concerns about its financial strength amid debt woes. The comment by China’s largest private developer came after it missed two dollar coupon payments …

China’s Country Garden says $100 billion Malaysia project on track Read More »

By David Shepardson BEIJING (Reuters) -U.S. Commerce Secretary Gina Raimondo opened talks with Chinese government officials on Monday, saying it is “profoundly important” for the world’s two largest economies to have a stable economic relationship. Raimondo is looking to boost business ties as U.S. firms have reported increasing challenges with operating in China, while China …

Raimondo: crucial US, China have stable economic relationship Read More »

By David Shepardson BEIJING (Reuters) -U.S. Commerce Secretary Gina Raimondo arrived in Beijing late on Sunday for a four-day visit aimed at boosting business ties between the world’s two largest economies while declaring American national security trade measures off-limits for debate. “If you wanted to put a tagline to the trip and the mission, it’s …

US Commerce chief seeks trade, tourism boost in China talks Read More »

By Clare Jim HONG KONG (Reuters) – China Evergrande Group, the world’s most-indebted property developer, on Sunday reported a narrower net loss for the first half of the year, thanks to a rise in revenue. Evergrande said its January-June loss was 33 billion yuan ($4.53 billion) versus a 66.4 billion yuan loss in the same …

China Evergrande first-half net loss narrows to $4.5 billion Read More »

(Reuters) – Chinese refining giant Sinopec Corp reported on Sunday a 20.1% fall in interim net profit for the first half of the year compared with the year-ago period, to 35.11 billion yuan ($4.82 billion), on lower crude prices despite higher refinery output and growth in fuel sales. Sinopec, the world’s largest refiner by capacity, …

China’s Sinopec’s interim profit down 20.1% on lower oil prices Read More »

BEIJING (Reuters) -Profits at China’s industrial firms fell 6.7% in July from a year earlier, extending this year’s slump to a seventh month with weak demand squeezing companies as a post-pandemic recovery faltered in the world’s second-biggest economy. Earnings shrank 15.5% year-on-year for the first seven months, following a 16.8% decline in the first half …

China’s industrial profits extend slump into seventh month Read More »

SYDNEY (Reuters) – Australian Treasurer Jim Chalmers said on Sunday the government was closely watching China amid “concerning” signs of economic weakness that could weigh on Australia’s economy. “I share the pretty substantial concerns that people have voiced about the Chinese economy,” Chalmers told Sky News television. “It is concerning to see the weakness, the …

Australia concerned about China economy, monitoring ‘very closely’ Read More »

JACKSON HOLE, Wyoming (Reuters) -Underlying inflation in Japan remains “a bit below” the Bank of Japan’s 2% target, BOJ Governor Kazuo Ueda said at a Federal Reserve research symposium on Saturday, and as a result the bank will maintain the current approach to monetary policy. “We think that underlying inflation is still a bit below …

BOJ’s Ueda: Underlying inflation still a bit below target Read More »

By Howard Schneider JACKSON HOLE, Wyoming (Reuters) – U.S. trade has shifted away from China due to policies enacted by the Biden and Trump administrations, but U.S. reliance on China-linked supply chains has not necessarily been reduced and consumers have faced higher costs, according to new research presented on Saturday at a Federal Reserve economic …

Trump, Biden policies shifted trade from China at a cost, study shows Read More »

By Gopal Sharma KATHMANDU (Reuters) – The Himalayan kingdom of Bhutan is to halve the $200 daily fee it charges tourists in an effort to boost a sector still struggling to recover a year after the end of COVID-19 restrictions. Bhutan raised its “Sustainable Development Fee” to $200 per visitor per night, from $65, when …

Bhutan cuts daily tourist fee by half to lure more visitors Read More »