Reuters Asia Business

By Roxanne Liu and Selena Li (Reuters) – China’s Ant Group and Standard Chartered said on Monday they will work together in green finance and global fund management, broadening their existing partnership. The deal is the first high-profile tie-up between Ant and a major foreign bank since authorities cancelled a planned mega-IPO by the fintech …

StanChart, Ant Group to partner in green finance, global fund management Read More »

BANGKOK (Reuters) -Thailand’s economic recovery remained on track in June as the tourism sector expanded on higher foreign tourist arrivals while exports declined, the central bank said on Monday. Economic activity was seen gradually improving, driven by tourism, as exports were not expected to improve until late in the year, said Chayawadee Chai-Anant, an assistant …

Thailand’s economy on recovery path as tourism rises Read More »

BEIJING (Reuters) – U.S. automaker Tesla is set to cut prices on multiple variants of its Model 3 and Model Y vehicles in Hong Kong from Aug. 4, Hong Kong Economic Times reported on Monday. The discounts would range from 6% to 11.9%, according to the report. (Reporting by Beijing Newsroom)

HONG KONG/SINGAPORE (Reuters) – Singapore’s central bank said on Monday it was proposing measures to tighten money laundering surveillance of family offices, which handle the financial affairs of the super rich. The Monetary Authority of Singapore (MAS), in a statement, said it had launched a public consultation on the changes, which include requiring Single Family …

Singapore seeks to tighten money laundering audits for family offices Read More »

MANILA (Reuters) – Philippine headline inflation was expected to ease for a sixth straight month with the central bank on Monday projecting the rate in July to come in between 4.1% and 4.9%, down from 5.4% in June. Ahead of the data release on Aug. 4, however, Bangko Sentral ng Pilipinas’ (BSP) Governor Eli Remolona …

Philippines central bank sees July inflation easing for sixth month Read More »

By Munsif Vengattil and Praveen Paramasivam CHENNAI (Reuters) -Taiwan’s Foxconn has signed an agreement with India’s Tamil Nadu to invest 16 billion rupees ($194 million) in a new electronic components manufacturing facility that will create 6,000 jobs, the government of the southern state said on Monday. The facility will be for Foxconn Industrial Internet (FII), …

Foxconn signs $194 million components plant deal with India’s Tamil Nadu state Read More »

By Heekyong Yang and Zoey Zhang SEOUL/SHANGHAI (Reuters) – Chinese battery materials firms are ramping up investment in South Korea, announcing projects worth at least $4.4 billion this year to try to meet U.S. electric vehicle (EV) tax credit rules aimed at lowering reliance on China’s supply chains. Five battery materials plants worth about 5.6 …

Chinese firms ramp up investment in S.Korea to get US EV tax credits Read More »

TOKYO (Reuters) – Japan’s Panasonic Holdings posted a 42% rise in first quarter profit on Monday, buoyed by a weaker yen and stronger sales in its automotive and energy segments, while it stuck to its full-year outlook. Panasonic, whose energy unit makes batteries for Tesla Inc, said operating profit came to 90.37 billion yen ($637 …

Panasonic Q1 profit jumps, maintains FY forecast Read More »

By Leika Kihara TOKYO (Reuters) -Japanese companies are raising prices and wages at a pace not seen in the past, the Bank of Japan (BOJ) said on Monday, stressing the need to watch for signs that inflationary pressures were broadening. Price hikes have spread rapidly among Japanese companies and sectors that had previously been cautious …

BOJ flags broadening price, wage hikes in wake of policy tweak Read More »

TOKYO (Reuters) – Two of Japan’s megabanks reported solid quarterly profit on Monday amid hope that the Bank of Japan’s policy change would herald a sea change in their business after years of being squeezed by rock-bottom interest rates. The central bank’s relaxation of its cap on bond yields on Friday boosted the prospect of …

Japan megabanks report solid Q1 profit amid hope of BOJ windfall Read More »