Reuters Asia Business

SINGAPORE/KUALA LUMPUR (Reuters) -Malaysian palm oil firm Kuala Lumpur Kepong Berhad said on Thursday it plans to buy a 33% stake in Boustead Plantations and eventually take over the smaller rival along with other top shareholders, in a deal valuing the company at 3.47 billion ringgit ($748 million). The stake purchase and the takeover proposal …

Malaysia’s Boustead Plantations to be taken private by KLK, top shareholders Read More »

By Martin Quin Pollard and Xiaoyu Yin BEIJING (Reuters) – Vendors at Beijing’s largest seafood market said they were angry and scared for their future as Japan began to release treated radioactive water from the wrecked Fukushima nuclear power plant into the Pacific Ocean on Thursday. Amidst a wave of condemnation in Chinese state and …

Chinese seafood traders angry, anxious as Japan begins Fukushima wastewater release Read More »

JOHANNESBURG (Reuters) -Brazil has submitted a proposal to Argentina aimed at securing Chinese yuan guarantees for Brazilian exports to the neighboring country in an initiative involving state-run lender Banco do Brasil, Finance Minister Fernando Haddad said on Wednesday. Banco do Brasil under the proposal would oversee the conversion of yuan back into Brazilian reais, based …

Brazil proposes yuan guarantees for exports to Argentina, finance minister says Read More »

By Echo Wang and Anirban Sen NEW YORK (Reuters) – Chip designer Arm signed up 28 banks for its blockbuster initial public offering without giving them a fee arrangement, a reflection of owner SoftBank Group’s leverage over underwriters clamoring for a role, according to people familiar with the matter. While it is common for the …

Exclusive-SoftBank hired Arm’s IPO banks without clarity on fees -sources Read More »

By Ariba Shahid KARACHI (Reuters) – The International Monetary Fund’s (IMF) representative in Pakistan on Wednesday said that the reform process to which the government had agreed required the country to keep all state-owned enterprises (SOEs) under finance ministry oversight. “Following through on the previously agreed 2021 triage reform process, and other governance and private …

Pakistan required to keep SOEs under finance ministry oversight -IMF Read More »

(Reuters) – WeWork is tapping advisers for restructuring advice as it struggles with a heavy debt load and poor financial performance, Bloomberg News reported on Wednesday citing people familiar with the matter. Shares of the Softbank Group-backed WeWork fell about 15% to 0.12 cents in afternoon trade. The New York Stock Exchange (NYSE) suspended trading …

WeWork tapping advisers for restructuring help – Bloomberg News Read More »

By Andreas Rinke BERLIN (Reuters) -The volume of investment guarantees provided by the German government to companies investing in China has collapsed this year, a government document showed, highlighting the impact of Berlin’s efforts to end over-reliance on the country. Only 51.9 million euros ($56.26 million) in guarantees have been issued so far this year, …

Exclusive-German guarantees for China investments plummet -document Read More »

(Reuters) – Huawei Technologies Co is building a collection of secret semiconductor-fabrication facilities across China to let the company skirt U.S. sanctions, a Washington-based semiconductor association has warned, Bloomberg News reported on Tuesday. The Chinese tech giant moved into chip production last year and is receiving an estimated $30 billion in state funding from the …

Huawei is building secret network for chips, trade group warns – Bloomberg News Read More »