Reuters Asia Business

KARACHI, Pakistan (Reuters) – The International Monetary Fund and Pakistan have struck a staff-level agreement for the provision on $3 billion in bailout funds under a stand-by arrangement (SBA). The deal comes under an SBA instead of Pakistan’s Extended Fund Facility (EFF) programme that the country entered in 2019 and which was set to expire …

Factbox-What Pakistan needs to do under the IMF programme Read More »

PARIS (Reuters) – MG Motor, owned by Chinese company SAIC Motor, on Friday announced a new leasing offer whereby drivers in France can get for 99 euros ($107.6) a month its MG4 electric car, matching a scheme the French government would like to see benefiting cars made in Europe. The offer runs from July 1 …

SAIC’s MG Motor brand launches new electric vehicle leasing offer in France Read More »

SHANGHAI/BEIJING (Reuters) – China’s central bank has surveyed some foreign banks in the past week about the interest rates they offer to their clients for dollar deposits, people familiar with the matter said, as authorities step up efforts to slow the yuan’s depreciation. The central bank also guided one commercial lender to lower such rates, …

China’s PBOC asks foreign banks about dollar deposit rates amid weak yuan – sources Read More »

By Toby Sterling AMSTERDAM (Reuters) – The Dutch government on Friday announced new rules restricting exports of certain advanced semiconductor equipment, a move that comes amid U.S. pressure on its allies to curb sales of high-tech components to China. “We have taken this step in the interest of our national security” said Trade Minister Liesje …

Dutch curb chip equipment exports amid US pressure Read More »

TOKYO (Reuters) – Japan Post Holdings said on Friday it booked an impairment loss of 85.1 billion yen ($587.5 million) in the April to June quarter on its stake in beleaguered Japanese e-commerce giant Rakuten Group. Rakuten shares dropped to 499 yen at Friday’s close, a level last seen in 2009 and well below the …

Japan Post books $588 million impairment loss on Rakuten holding Read More »

BEIJING (Reuters) – China’s Sinopec has begun producing green hydrogen at a plant in the western region of Xinjiang, the company said on Friday. Sinopec’s first green hydrogen facility has the capacity to produce 20,000 metric tons of hydrogen a year, using solar power to electrolyse water, the company said in a statement. The plant, …

Sinopec’s first green hydrogen plant starts production in Xinjiang Read More »

By Karen Freifeld (Reuters) – The United States and the Netherlands are set to deliver a one-two punch to China’s chipmakers this summer by further restricting sales of chipmaking equipment, part of the countries’ ongoing effort to prevent their technology from being used to strengthen China’s military. While the Dutch are planning to curb certain …

Exclusive-US, Dutch set to hit China’s chipmakers with one-two punch Read More »

By Daniel Ramos LA PAZ (Reuters) -Bolivia has signed lithium agreements with Russian state nuclear firm Rosatom and China’s Citic Guoan Group, the South American country’s government said on Thursday, as it looks to develop its huge but largely untapped resources of the battery metal. The deals, which envisage total investment of $1.4 billion, follow …

Bolivia taps China, Russia’s Rosatom in bid to unlock huge lithium riches Read More »

By Scott Murdoch and Kane Wu SYDNEY/HONG KONG (Reuters) – Chinese companies are finding it challenging to get timely regulatory approvals for overseas share offerings as scrutiny of their proposals has intensified under new listing rules, frustrating potential issuers and investment bankers. Since the launch of the overhauled listing regime on March 31, not a …

Regulatory logjam in China offshore listings hits firms’ funding plans Read More »