Reuters Asia Business

BEIJING/JOHANNESBURG (Reuters) -BRICS nations should strengthen cooperation on cross-border payment, a Chinese foreign ministry official said on Thursday, the final day of a three-day BRICS summit in South Africa, while India’s foreign secretary said it was a promising area. BRICS members should also study local currency cooperation payment tools and platforms, and promote local currency …

BRICS should strengthen cross-border payment cooperation: China Read More »

By Abigail Summerville, Anirban Sen and Deborah Mary Sophia NEW YORK (Reuters) -Private equity firm Roark Capital agreed on Thursday to buy Subway, in a deal that people familiar with the matter said values the U.S. sandwich chain at up to $9.55 billion, including debt, subject to targets in its financial performance. The deal marks …

Roark Capital to buy sandwich chain Subway for up to $9.55 billion -sources Read More »

By Arriana McLymore (Reuters) -Shein said on Thursday it has partnered with SPARC Group, a joint venture between Forever 21 owner Authentic Brands and mall operator Simon Property, as the online fashion retailer and its rivals look to expand their market reach. The deal, which would give Shein a roughly one-third interest in SPARC Group, …

Shein signs deal with Forever 21 owner as fast-fashion majors look to boost reach Read More »

(Reuters) – HSBC said on Thursday it has expanded venture debt offering to early-stage startups through its U.S. innovation banking division. London-based HSBC has been catering to late-stage and mature firms since 2019. Debt has become an increasingly popular option for startups looking for cash in a tough financing market. Last year, several late-stage startups …

HSBC expands venture debt offering to early-stage startups in US Read More »

By Fransiska Nangoy and Bernadette Christina JAKARTA (Reuters) -Indonesia’s central bank kept interest rates unchanged on Thursday, as expected, saying current levels are sufficient to keep inflation in check, while strengthening efforts to stabilise the rupiah currency. Bank Indonesia (BI) plans to issue new rupiah-denominated securities, using its holdings of government bonds as the underlying …

Bank Indonesia holds rates steady, plans new way to attract inflows Read More »

By Himanshi Akhand (Reuters) – Bearish bets on most emerging Asian currencies firmed as concerns over slowing economic growth in China continued to weigh on risk sentiment, a Reuters poll found on Thursday. Short positions on the Chinese yuan, the Philippine peso and the Malaysian ringgit firmed, while short bets on the Indonesian rupiah, the …

Bearish bets on Asian currencies firm, focus remains on China growth: Reuters poll Read More »

BANGKOK (Reuters) – Air Japan, a low-cost carrier of Japan’s All Nippon Airways’ (ANA), will get a second aircraft in May next year to be deployed in Southeast Asia, a top executive said on Thursday. Air Japan will add one or two planes each year, the airline’s president Hideki Mineguchi said in Bangkok. ANA launched …

ANA unit Air Japan to get second jet in 2024, add more each year Read More »

By Casey Hall SHANGHAI (Reuters) -Chinese food delivery giant Meituan on Thursday posted a bigger-than-expected 33.4% rise in second-quarter revenue, defying a slowing Chinese economy. Meituan, which offers an app that provides services such as bike-sharing, ticket-booking and maps, reported April-June revenue of 67.9 billion yuan ($9.33 billion), up from 50.9 billion a year earlier. …

China’s Meituan swings to profit, beats expectations on food delivery rebound Read More »

By Khanh Vu and Phuong Nguyen HANOI (Reuters) – Vietnamese internet company VNG Corp has filed for an initial public offering (IPO) in the United States via VNG Ltd. VNG’s IPO attempt follows the August 15 Nasdaq listing debut by VinFast which has vaulted 254% since its debut to $37.03. The surge in VinFast could …

Factbox-Vietnam firms that have launched or sought overseas IPOs Read More »

By Xie Yu and Yoruk Bahceli HONG KONG/AMSTERDAM (Reuters) -Global investors fleeing China have one simple message for the country’s leadership: put prudence aside for a short while, and start spending big. As they go from hope to disappointment and now capitulation, investors are losing patience with what they see as incoherent, slow and stingy …

Stimulus or bust: Investors staying out of China until the spending starts Read More »