Reuters Asia Business

LONDON (Reuters) – Britain will maintain anti-dumping measures on heavy plate steel from China for a further five years, it said on Wednesday, after a recommendation from the Trade Remedies Authority (TRA) that British industry would suffer if they were removed. Britain has been taking measures against cheap Chinese imports of steel to help protect …

Britain extends anti-dumping measures on Chinese heavy plate steel Read More »

By Balazs Koranyi and Francesco Canepa SINTRA, Portugal (Reuters) -Bank of Japan (BOJ) Governor Kazuo Ueda on Wednesday said the central bank would see good reason to shift monetary policy if it became “reasonably sure” that inflation would accelerate into 2024 after a period of moderation. The BOJ expected inflation to slow “for a while” …

BOJ’s Ueda: See good reason to shift policy if inflation re-accelerates into 2024 Read More »

By Josh Ye HONG KONG (Reuters) – Chinese tech giants Tencent Holdings and Ant Group said that they would allow users to link international credit cards to their platforms, an issue that has long plagued foreign visitors as the country’s payment system has kept credit cards out for years. Tencent, operator of the popular chat …

Chinese payment giants revive effort to accept foreign credit cards Read More »

ISLAMABAD (Reuters) – Pakistan and the International Monetary Fund are discussing a $2.5-billion “standby arrangement” for six to nine months, domestic newspapers said on Wednesday, with the current bailout programme set to expire on June 30. Pakistan rushed through a recent slew of policy adjustments, including a revised budget sought by the IMF and an …

Pakistan, IMF discuss $2.5 billion standby arrangement -domestic media Read More »

By Yantoultra Ngui and Phuong Nguyen SINGAPORE/HANOI (Reuters) – Vietnamese conglomerate Truong Hai Group, founded by tycoon Tran Ba Duong, is considering bringing in an investor into its automobiles arm Thaco Auto in a deal that could value the unit at around $5 billion, two people familiar with the matter said. Truong Hai Group is …

Exclusive-Vietnam’s Truong Hai considers stake sale in $5 billion automotive arm – sources Read More »

By Takaya Yamaguchi and Tetsushi Kajimoto TOKYO (Reuters) -Japan’s top currency officials on Wednesday ramped up a warning against the yen’s current weakness, saying the authorities would respond appropriately if moves become excessive, repeating similar comments by the finance minister on Tuesday. Finance Minister Shunichi Suzuki said one-sided movements were seen in the yen’s slide, …

Japan finance officials step up warning against yen weakening Read More »

BEIJING (Reuters) -Annual profits at China’s industrial firms extended a double-digit decline in the first five months as softening demand squeezed margins, reinforcing hopes of more policy support to bolster a stuttering post-COVID economic recovery. The 18.8% year-on-year slump in profits came on top of the 20.6% contraction in January-April, and added to evidence of …

China’s industrial profits tumble, deepening economic gloom Read More »

(Corrects spelling of Chinese in headline) HONG KONG (Reuters) – Four more property developers listed in mainland China said they have received approval to refinance via share placements totalling 19.9 billion yuan ($2.8 billion), in a sign of the regulatory effort to improve liquidity in the embattled sector. China’s securities watchdog has now approved requests …

Four more Chinese developers get refinancing approval Read More »

SYDNEY (Reuters) – China’s Sichuan Kelun-Biotech Pharmaceutical is looking to raise $208.6 million in a Hong Kong initial public offering, according to a term sheet seen by Reuters. The company is selling 22.44 million shares in a price range of HK$60.60 to HK$72.80 ($7.74-$9.30) each, the term sheet showed. The company did not immediately respond …

China’s Sichuan Kelun-Biotech opens books for $208 million Hong Kong IPO – term sheet Read More »