Reuters Asia Business

By Tetsushi Kajimoto TOKYO (Reuters) -Japanese Finance Minister Shunichi Suzuki said on Tuesday that authorities are not targeting absolute currency levels when it comes to intervening in the market. Suzuki made the remark at a news conference when asked about the government’s stance on intervention, as the dollar broke above the 145 yen threshold, a …

Japan’s Suzuki: Not targeting absolute levels on FX intervention Read More »

SINGAPORE (Reuters) – The growth of the Japanese business of the European Energy Exchange (EEX) is exceeding expectations, its CEO Peter Reitz told Reuters in an interview late Monday. EEX, the world’s largest electricity exchange, saw a sharp drop in traded volumes last year, as Russia’s invasion of Ukraine in February 2022 pushed power tariffs …

EEX CEO says ‘fastest growing’ Japan power business exceeding expectations Read More »

By Navya Mittal (Reuters) -Australia’s Federal Court on Monday ordered Dell Technologies Inc’s local unit to pay A$10 million ($6.46 million) in penalties for making misleading representations on its website about discounts for add-on computer monitors. In a legal action brought by the country’s competition regulator, Dell Australia was found guilty by the Federal Court …

Australian court fines Dell unit $6.5 million for misleading customers on discounts Read More »

BEIJING (Reuters) -Tesla on Monday said it has cut prices in China for its Model Y long-range and performance versions starting on Aug. 14, sending its shares lower on concern of further pressure on its profit margins. This marks the first time since January that Tesla has reduced its vehicle prices in China, although the …

Tesla cuts prices in China for select Model Y versions Read More »

(Reuters) -Embattled property developer China Evergrande Group said on Monday its listed electric-vehicle arm has agreed to issue new shares to certain subscribers to ease loan burden and improve liquidity as part of its restructuring proposal. Under the terms, China Evergrande New Energy Vehicle Group (NEV) will issue an aggregate of 5.44 billion new shares …

China Evergrande EV unit to issue fresh shares in restructuring plan Read More »

By Aftab Ahmed and Nikunj Ohri NEW DELHI (Reuters) – India’s annual retail inflation in July rose to its highest in 15 months as vegetable and cereals prices skyrocketed, beating all market expectations and putting pressure on the government to take action to bring down prices. India’s annual retail inflation rose sharply to 7.44% in …

India’s retail inflation surges on food prices in challenge to Modi government Read More »

(Reuters) -Turmoil at China’s largest private developer Country Garden could set off a “vicious cycle” of financing stress on the country’s real estate investment trusts (REITs), brokerage J.P. Morgan warned on Monday. The brokerage flagged issues at Chinese conglomerate Zhongzhi Enterprise Group, after two Chinese listed companies said they had not received payment on maturing …

China’s Country Garden woes raise fears of REIT defaults – J.P.Morgan Read More »

BEIJING/HONG KONG (Reuters) – Chinese property developer Country Garden is seeking to extend full repayment for an onshore private bond due Sept. 2 by three years in instalments, a source with direct knowledge said on Monday. The bond has an outstanding amount of 3.9 billion yuan ($537.96 million), according to data provider Wind. Country Garden …

Country Garden seeks to extend $538 million onshore bond repayment by 3 years – source Read More »

By Joyce Lee SEOUL (Reuters) – South Korean tech giant Naver’s webcomics business, called “Webtoon”, will rely on its deep bank of content and creators to fend off new competition from larger Silicon Valley rivals, its CEO said, as it plans a listing next year. Webtoons are digitalised short-form comics optimised for reading on mobiles …

Naver’s ‘Webtoon’ CEO says barrier for new entrants is high Read More »