Reuters Asia Business

By Ariba Shahid KARACHI (Reuters) – Pakistan’s central bank will likely raise its key interest rate again on Monday to tackle persistently high inflation, giving in to pressure from the International Monetary Fund (IMF), analysts said. Pakistan must continue its monetary tightening cycle, the International Monetary Fund (IMF) said in a staff report earlier in …

Pakistan seen hiking rates again on IMF guidance, analysts say Read More »

TOKYO (Reuters) -Japan’s Takeda Pharmaceutical posted first-quarter profit that beat analysts’ estimates, citing solid sales of mainstay drugs and the launch of new products including its dengue fever vaccine. The result marked a better-than-expected start to a rebuilding year for Takeda, as main sellers lose patent protection and it works to wring new winners out …

Japan’s Takeda beats Q1 profit estimates on mainstay drugs, dengue vaccine Read More »

By Asif Shahzad ISLAMABAD (Reuters) -Pakistan Finance Minister Ishaq Dar said on Thursday that China has rolled over a $2.4 billion loan to Islamabad for a period of two years, a boost to its foreign reserves on the back of an IMF deal which helped it avert a default. “Chinese Exim bank rolled over principal …

Pakistan says China has rolled over $2.4 billion loan for two years Read More »

By Jihoon Lee SEOUL (Reuters) – South Korea on Thursday proposed tax cuts to encourage companies to shift operations back home and nurture the biopharmaceutical and visual entertainment industries, to stimulate domestic growth and reduce reliance on traditional manufacturing sectors. The country with the world’s lowest birth rate would also increase financial support for marriage …

South Korea proposes tax cuts to stimulate corporate investment, childbirth Read More »

By Joyce Lee and Ju-min Park SEOUL (Reuters) -Samsung Electronics on Thursday said the worst is over for the global memory chip market but announced plans to extend production cuts because a demand recovery is largely constrained to high-end chips used in artificial intelligence. The move underscores the unprecedented semiconductor downturn that led the South …

Samsung to extend production cuts after $7 billion chip loss in H1 Read More »

By Jorgelina do Rosario and Rodrigo Campos LONDON/NEW YORK (Reuters) -Time is running out for Argentina to secure the next tranche of a $44 billion loan with the International Monetary Fund, which it could use to repay the fund older debt due in coming days. With both sides saying an agreement on policy steps required …

Argentina could again use yuan to evade IMF default Read More »

By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) – Thailand’s factory output shrank more than expected in June as sluggish global demand crimped exports amid an uncertain outlook for industry as political uncertainty after May elections drags on, a ministry official said on Thursday. The manufacturing production index (MPI) dropped for a ninth straight month …

Thai June factory output drops more than forecast as exports weak Read More »

HONG KONG (Reuters) -HSBC Holdings said on Thursday it is raising its best lending rate in Hong Kong by 12.5 basis points to 5.875% effective on July 28 after the city’s de facto central bank raised the base rate. HSBC also said it would raise the savings rate for its U.S. dollar savings deposits by …

HSBC to raise prime lending rate to 5.875% after Hong Kong rate hike Read More »

SEOUL (Reuters) – South Korean manufacturers’ business optimism in August hit its highest level in seven months, a central bank survey showed on Thursday, as concern about raw material prices eased. The business outlook index for August rose to 71 on a seasonally adjusted basis from 69 for July, according to the Bank of Korea’s …

South Korean manufacturers most optimistic in seven months -central bank survey Read More »