Reuters Asia Business

(Reuters) – J.P.Morgan trimmed China’s economic growth forecast for 2023 after the country’s May industrial output and retail sales growth missed forecasts. Economists led by Haibin Zhu said on Thursday they now expect China’s economy to grow 5.5% this year against an earlier estimate of 5.9% growth. (Reporting by Aniruddha Ghosh in Bengaluru; Editing by …

J.P.Morgan cuts China’s full year growth forecast after poor May data Read More »

By Laurie Chen BEIJING (Reuters) – A senior employee of the Beijing-based Asian Infrastructure Investment Bank (AIIB) said on Thursday he was advised to flee the country after resigning from the bank in protest over what he alleged was Chinese Communist Party influence. Bob Pickard, a Canadian national and former global communications chief for the …

Ex-AIIB comms chief says was advised to flee China after fiery resignation Read More »

By Chayut Setboonsarng BANGKOK (Reuters) – Overseas travel bookings from mainland China are currently at just over half of pre-pandemic levels but are on course to return to the 2019 numbers by the end of this year or early 2024, the head of online travel agency Agoda said on Thursday. China was the world’s largest …

China bookings to return to pre-pandemic level by early 2024 – Agoda Read More »

By John Revill and Fanny Potkin SINGAPORE/ZURICH (Reuters) -Siemens will spend 2 billion euros ($2.2 billion) on a new global investment plan, the German engineering group said on Thursday, to make its operations more resilient against supply chain disruptions and geopolitical tensions. Siemens will build new factories, research and development centres and training sites around …

Siemens to spend $2.2 billion to ramp up global production Read More »

TOKYO (Reuters) -Some 85% of Toyota Motor’s shareholders voted to re-elect Chairman Akio Toyoda to the automaker’s board of directors at its annual general meeting, the company said in a regulatory filing on Thursday. Support for Toyoda, the grandson of the company’s founder, was at 96% in the previous year, when he was president and …

Some 85% of Toyota shareholders voted to re-elect Toyoda at AGM Read More »

By Jonathan Stempel NEW YORK (Reuters) – A U.S. appeals court in Manhattan on Wednesday said the exiled Chinese businessman Guo Wengui should remain in jail while he awaits trial over an alleged fraud that federal prosecutors have said exceeds $1 billion. The 2nd U.S. Circuit Court of Appeals said it did not have a …

No bail for exiled Chinese businessman Guo Wengui Read More »

By Ariba Shahid (Reuters) – The International Monetary Fund (IMF) on Thursday expressed dissatisfaction with Pakistan’s recently presented budget, a blow for the cash-strapped country which has only two weeks left until its bailout programme expires. Pakistan has barely enough currency reserves to cover one month’s imports. It had hoped to have $1.1 billion of …

IMF says Pakistan’s 2024 budget a missed opportunity as loan deal deadline looms Read More »

By Jessie Pang HONG KONG (Reuters) – Various versions of the pro-democracy protest anthem “Glory to Hong Kong” were unavailable on Apple’s iTunes Store, Spotify, KKBOX, Facebook and Instagram’s Reels on Wednesday after the government sought an injunction banning the song outright. A Reuters search for the song’s Chinese title on Apple’s iTunes Store and …

Hong Kong protest anthem’s online presence fades as govt seeks total ban Read More »

By David Shepardson WASHINGTON (Reuters) – A bipartisan group of six senators and two members of the House of Representatives on Wednesday introduced legislation to protect Americans’ data from being used by U.S. adversaries. The bill is the latest in a series of proposals aimed at addressing concerns about the data of Americans using foreign-owned …

US lawmakers seek new law to protect TikTok user information Read More »

By David Ljunggren OTTAWA (Reuters) -Canada is freezing ties with the China-led Asian Infrastructure Investment Bank (AIIB) while it probes allegations it is dominated by the Chinese Communist Party, Finance Minister Chrystia Freeland said on Wednesday. Freeland said she did not rule out any outcome of the investigation, a clear hint that Ottawa could pull …

Canada freezes ties with China-led AIIB, probes allegations of Communist domination Read More »