Reuters Asia Business

By Renju Jose and Florence Tan SYDNEY/SINGAPORE (Reuters) -Australia’s labour regulator cleared the way for strike action at Chevron’s Wheatstone and Gorgon liquefied natural gas (LNG) facilities if workers vote in favour of such a step, fuelling concerns the country’s exports could be cut. The Fair Work Commission said in an order dated Thursday that …

Australia regulator clears way for strike vote at Chevron LNG plants Read More »

By Enrico Dela Cruz MANILA (Reuters) -Retail prices for imported and locally produced rice in the Philippines rose further by 4% to 14% this month, government data showed on Friday, as global and domestic farmgate prices soared, adding pressure on food inflation. The steady rise in prices of the country’s staple food pushed local rice …

Rising rice prices in Philippines fuel food inflation concerns Read More »

By Jason Xue and Tom Westbrook SHANGHAI (Reuters) – A growing number of healthcare companies in China are shelving their initial public offering (IPO) plans as its stock exchanges have stepped up scrutiny of the pharmaceutical industry’s business practices amid an escalating anti-corruption drive.     Healthcare stocks have already slumped in China since the government …

China drugmakers axe IPO plans as they face scrutiny in anti-graft drive Read More »

By Daniel Wiessner (Reuters) – A China-based tutoring company has agreed to settle a U.S. government agency’s novel lawsuit claiming it used hiring software powered by artificial intelligence to illegally weed out older job applicants. The 2022 lawsuit against iTutorGroup Inc was the first by the U.S. Equal Employment Opportunity Commission (EEOC) involving a company’s …

Tutoring firm settles US agency’s first bias lawsuit involving AI software Read More »

By Phuong Nguyen HANOI (Reuters) -Vietnamese electric vehicle maker VinFast said it expects to start trading on the U.S. Nasdaq as soon as next week after its merger into a special purchase acquisition company (SPAC) was approved on Thursday. Shareholders of Hong Kong-based Black Spade Acquisition, a blank-check company, voted on Thursday to approve the …

Vietnamese EV maker VinFast gets go ahead for Nasdaq SPAC listing Read More »

By Casey Hall and Yuvraj Malik (Reuters) -China’s Alibaba Group Holding reported its strongest quarterly revenue growth in almost two years on Thursday as its domestic e-commerce unit focuses on low-cost products to attract consumers amid a sober economic environment. The Chinese e-commerce giant posted first-quarter revenue of 234.16 billion yuan ($32.29 billion), up 14% …

Alibaba’s quarterly revenue beats despite China’s sputtering economy Read More »

(Reuters) – Debt-laden Chinese developer Country Garden expects to report a net loss for the first half of 2023 and said it would take measures to meet its debt obligations and fix operational issues to get the company back on track, it said on Thursday. The company said it has set up a special task …

China’s Country Garden flags H1 net loss, vows to address liquidity concerns Read More »

By Mohammad Yunus Yawar KABUL (Reuters) – A Taliban delegation discussed facilitating international financial transactions with private banks on a recent trip to Kazakhstan in a bid to ease the Afghan banking sector’s isolation, the acting commerce minister said. Nooruddin Azizi, acting Minister of Commerce and Industry, led a business delegation to Kazakhstan last week. …

Taliban discusses easing banking transactions with Kazakhstan – Afghan commerce min Read More »

By Jorgelina do Rosario LONDON (Reuters) – Foreign investors funneled over $3 billion into Chinese debt in July in the first net monthly inflows this year for the world’s second-largest economy, data from the Institute of International Finance (IIF) showed on Thursday. Inflows were less than a third of the $10.6 billion poured into Chinese …

China snaps 2023 debt outflow streak as emerging markets shine in July -IIF Read More »