Reuters Asia Business

BEIJING (Reuters) – China’s Alibaba Group said on Sunday it had decided not to participate in affiliate Ant Group’s proposed repurchase of shares, but would maintain its shareholding in the company. Ant Group announced a surprise share buyback of up to 7.6% of its equity interest earlier this month, a day after it was fined …

China’s Alibaba says it will not join Ant Group share buyback Read More »

FRANKFURT (Reuters) – Mercedes-Benz is making China, the world’s top auto market, central to its next electric vehicle (EV) campaign starting in 2025, its CEO told German magazine Automobilwoche. “To do this, we must master electric propulsion just as perfectly as digitalisation. That’s what our customers expect,” Ola Kaellenius was quoted as saying. From 2025, …

China to be centre of Mercedes-Benz 2025 EV sales drive, Automobilwoche says Read More »

BEIJING (Reuters) – Chinese chipmaker Hua Hong Semiconductor said on Sunday it aims to raise up to 21.2 billion yuan ($2.95 billion)in a listing on the Shanghai stock exchange. The country’s second-largest chip foundry will sell 407.75 million shares priced at 52 yuan per share, it said in a statement to the exchange. The IPO …

Chinese chipmaker Hua Hong seeks up to $2.95 billion in mainland listing Read More »

HONG KONG (Reuters) – China’s Dalian Wanda Commercial Management, a unit of China’s largest commercial real estate developer Dalian Wanda Group, has made a $400 million bond repayment, financial information provider REDD reported on Saturday. Ratings agencies Moody’s and S&P both raised concerns in recent days about the property company’s ability to meet the debt …

China’s Wanda Commercial meets $400 million bond repayment deadline – report Read More »

NEW DELHI (Reuters) – India has rejected Chinese automaker BYD Co’s proposal to set up a $1 billion factory in India in partnership with Hyderabad-based Megha Engineering and Infrastructure Ltd, the Economic Times reported on Saturday. Reuters reported this month that BYD had submitted a $1 billion investment proposal to build electric cars and batteries …

India rejects BYD’s $1 billion factory proposal -Economic Times Read More »

By Sarita Chaganti Singh and Sudarshan Varadhan BAMBOLIM, India (Reuters) – Major fossil fuel producers, including Saudi Arabia and Russia, on Friday opposed a proposal to triple G20 countries’ renewable energy capacity by 2030, three sources said. China, the world’s biggest emitter of carbon dioxide, as well as coal exporters South Africa and Indonesia, also …

Exclusive-Russia, Saudi oppose G20 proposal to triple green energy capacity Read More »

By David Shepardson WASHINGTON (Reuters) -Two U.S. House of Representatives committees said Friday they are investigating Ford Motor Co’s partnership with Chinese battery company CATL. Ford announced in February it is spending $3.5 billion to build a battery plant in Michigan using technology from CATL, the world’s largest battery maker. Jason Smith and Mike Gallagher, …

U.S. House committees investigate Ford Chinese battery partnership Read More »

BEIJING (Reuters) – China’s cabinet has approved guidelines on transforming underdeveloped areas in megacities, in the government’s latest move to support the economy, state media said on Friday. The post-COVID recovery in China, the world’s second-largest economy, is faltering as demand weakens at home and abroad, adding pressures on policymakers to roll out more support …

China seeks to boost demand by pushing urban development – state media Read More »

HONG KONG (Reuters) – China’s two main bourses on Friday issued guidelines for rating the performances of sponsor institutions such as brokerages who help firms list on the exchanges, as part of efforts to battle capital market fraud. Sponsors would be assessed by the “quality” of listed firms they assisted, such as management competency, market …

China to rate sponsor institutions’ performance in assisting listed firms Read More »