Reuters Asia Business

COLOMBO (Reuters) – Sri Lanka plans to complete free trade talks with Thailand by February and sign an agreement in March, Sri Lanka’s cabinet spokesperson said on Tuesday, as part of an effort to expand trade as it emerges from economic turmoil. The island nation secured a nearly $3 billion International Monetary Fund bailout in …

Sri Lanka aims to complete free trade talks with Thailand by February Read More »

By Fransiska Nangoy TANGERANG, Indonesia (Reuters) – Italy’s Eni will sign a deal with Chevron Corp later on Tuesday to take over the U.S. firm’s stake in the Indonesia Deepwater Development project, the head of Indonesia’s upstream oil and gas regulator said. The deal will be signed around 9:30 a.m. UK time (0830 GMT), SKK …

Eni to sign deal with Chevron to take over Indonesia project – SKK Migas chief Read More »

By Helen Reid and Linda Pasquini LONDON (Reuters) – The trend for low-rise rubber-soled “terrace” sneakers could give Adidas and Puma an advantage over Nike this summer, but may not offset weakening U.S. and Chinese demand. German sportswear giants Adidas and Puma have trawled their archives to re-release old styles in new colours, driving renewed …

Adidas and Puma bet on ‘terrace’ sneaker trend in tough market Read More »

MELBOURNE (Reuters) – Rio Tinto is the first of the global iron ore majors expected to report lower half-year earnings from this week, as supply chains normalise after COVID-19 and attention turns to how suppliers to China’s steelmaking industry see customer demand. The world’s biggest iron ore producer is expected report its lowest half year …

Iron ore profits to drop by a third as miners eye China demand Read More »

By Arriana McLymore NEW YORK (Reuters) – Shein, an online discount clothing retailer whose labor practices in China are being questioned by U.S. lawmakers, spent $600,000 in the second quarter in lobbying on Capitol Hill, its first filings of such registrations showed. The outlay by Singapore-based Shein, launched in China in 2012, shows its moderate …

Shein posts US lobbying tab as it stays in lawmakers’ crosshairs Read More »

By Ellen Zhang and Kevin Yao BEIJING (Reuters) -China’s top leaders pledged on Monday to step up policy support for the economy amid a tortuous post-COVID recovery, focusing on boosting domestic demand, signalling more stimulus steps. The world’s second-largest economy grew at a frail pace in the second quarter as demand weakened at home and …

China to step up policy adjustments amid tortuous recovery Read More »

By Zaheer Kachwala and Krystal Hu (Reuters) -SoftBank Group is forming a joint venture with warehouse automation company Symbotic to build AI-powered warehouses that will be majority owned by the Japanese technology investor, the companies said on Monday. The firms are investing a total of $100 million in the venture, which will be called GreenBox …

SoftBank forms JV with Symbotic to build AI-powered warehouses, up its stake Read More »

SHANGHAI/TOKYO (Reuters) -Toyota Motor’s joint venture (JV) in China said on Monday that it has terminated early the contracts of about 1,000 dispatch workers, in a sign of pressure on automakers from a price war in the world’s largest auto market. The JV between Toyota and China’s state-owned Guangzhou Automobile Group (GAC) laid off the …

Toyota’s China joint venture dismisses about 1000 workers Read More »

By Julie Zhu, Kane Wu and Selena Li (Reuters) -Beijing has asked law firms to tone down the language used to describe China-related business risks in Chinese companies’ offshore listing documents, warning failure to do so could cost them regulatory green light for the IPOs, three people familiar with the matter said. The move, which …

Exclusive-Beijing pushes for toning down of China risks in IPO prospectuses-sources Read More »