Reuters Asia Business

By Gibran Naiyyar Peshimam KARACHI, Pakistan (Reuters) -Pakistan’s main opposition leader and former prime minister Imran Khan expressed support for a recently-reached bailout deal with the International Monetary Fund (IMF) after a meeting with officials of the lender on Friday, his party said. The IMF said it was, in the lead up to national elections …

Pakistan’s Imran Khan expresses support for bailout deal in IMF meeting Read More »

BENGALURU (Reuters) – India’s metals-to-oil conglomerate Vedanta Ltd said on Friday that it would take over from its holding company the ownership of a joint venture with Taiwan’s Foxconn that was set up to make semiconductors. Vedanta also said it would also take over a display glass manufacturing venture from Volcan Investments, Vedanta’s holding company. …

India’s Vedanta to take over Foxconn chip JV from holding co Read More »

OSLO (Reuters) – Norway’s $1.4 trillion sovereign wealth fund has excluded Power Construction Corp of China from its portfolio and placed London-listed Petrofac under observation. The Norwegian wealth fund, set up in 1996 to save petroleum revenues for future generations, operates under ethical guidelines set by parliament and excludes investments in companies that it says …

Norway wealth fund excludes Power Construction Corp of China Read More »

By Roger Tung and Faith Hung TAIPEI (Reuters) -Taiwan’s exports fell more than expected in June, slumping the most in almost 14 years, as the island struggled with persistent weakness in demand from the U.S. and China for its hi-tech products. As Taiwan is often considered a bellwether of global electronics demand, the sharp slump …

Taiwan June exports slump the most in 14 years on weak China, US demand Read More »

By Bernadette Christina, Fransiska Nangoy and Yantoultra Ngui JAKARTA/SINGAPORE (Reuters) -Amman Mineral Internasional ended 3.5% higher in its stock market debut on Friday after the country’s second-largest copper and gold producer raised 10.73 trillion rupiah ($713.43 million) in Indonesia’s biggest initial public offering (IPO) this year. Amman Mineral’s stock opened at 1,745 rupiah, 2.9% higher …

Amman Mineral makes firm debut in Indonesia’s biggest IPO this year Read More »

JAKARTA (Reuters) – Indonesian officials are investigating whether there have been illegal nickel ore shipments to China, more than three years after Jakarta banned exports of the commodity, its mining minister said on Friday. Indonesia, the world’s biggest nickel ore producer, had stopped exports of the material since the beginning of 2020 to reserve raw …

Indonesia probes possible illegal nickel ore exports to China Read More »

BEIJING (Reuters) – Tesla on Friday offered a new incentive to boost electric vehicle sales in China as it notified some workers making battery packs at its Shanghai complex of layoffs, according to a company announcement and a worker who had received the notice. Tesla announced the cash rebate offer on new cars a day …

Tesla offers new China rebate as price cuts rock EV market Read More »