Reuters Asia Business

China considers broad stimulus with property support, rate cuts -Bloomberg News

13 Jun 2023

(Reuters) – China is considering at least a dozen stimulus measures including interest-rate reductions to support areas such as real estate and domestic demand, Bloomberg News reported on Tuesday citing people familiar with the matter. China’s property sector, once a pillar of economic growth, slumped sharply last year with developers defaulting on debt or bonds …

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Explainer-How could solid-state batteries improve next-gen EVs?

13 Jun 2023

TOKYO/SINGAPORE (Reuters) – Toyota Motor has said it is moving toward production of solid-state batteries for the next generation of electric vehicles (EVs), bringing a technology that promises more energy storage and faster charging closer to market. HOW ARE SOLID-STATE BATTERIES DIFFERENT? Solid-state batteries use thin layers of solid electrolytes that carry lithium ions between …

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Heatwave lays bare Vietnam’s structural electricity woes

13 Jun 2023

By Khanh Vu and Francesco Guarascio HANOI (Reuters) -Vietnam is battling electricity cuts caused by a heatwave that has exposed structural and bureaucratic problems limiting available power to half of installed capacity and crimping efforts to unlock $15.5 billion in global climate funding. The manufacturing hub hosts large factories run by tech firms Samsung and …

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Exclusive-Pakistan paid in Chinese currency for discounted Russian oil- minister

12 Jun 2023

By Ariba Shahid and Asif Shahzad ISLAMABAD (Reuters) -Pakistan paid for its first government-to-government import of discounted Russian crude oil in Chinese currency, the South Asian country’s petroleum minister said on Monday, a significant shift in its U.S. dollar-dominated export payments policy. Discounted crude offers a respite as Pakistan faces an economic crisis with an …

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China’s southern cities call for power saving as grid stress increases

12 Jun 2023

BEIJING (Reuters) – An oil refining city in southern China is calling on firms and citizens to save on electricity after its electricity load broke records three times as of Monday, as grid stress increases amid searing and persistent hot weather. Southern China has been beleaguered by a combination of sizzling hot temperatures and heavy …

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Pakistan PM says first discounted Russian crude oil cargo arrives in Karachi

12 Jun 2023

(This June 11 story has been refiled to correct the reporter’s name) (Reuters) – Pakistan’s Prime Minister Shehbaz Sharif on Sunday said the first cargo of discounted Russian crude oil arranged under a new deal struck between Islamabad and Moscow had arrived in Karachi. “Glad to announce that the first Russian discounted crude oil cargo …

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Pakistan cenbank chief says Pakistan not considering bilateral debt restructuring – sources

12 Jun 2023

KARACHI, Pakistan (Reuters) – Pakistan’s central bank governor said the country is not considering a bilateral debt restructuring, sources that attended an analyst briefing following the monetary policy decision told Reuters. “As of now there is no plan to enter into any debt restructuring,” the sources cited State Bank of Pakistan (SBP) governor Jameel Ahmad …

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Pakistan cenbank leaves key rate unchanged, signals tightening pause

12 Jun 2023

By Ariba Shahid KARACHI, Pakistan (Reuters) -Pakistan’s central bank kept its key interest rate unchanged on Monday, in line with market expectations, and signaled that it would pause its tightening cycle as record-high inflation may have peaked. The State Bank of Pakistan’s (SBP) key rate remains at a record high of 21%. The central bank …

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Ex-Samsung Elec executive indicted over alleged data theft for China factory

12 Jun 2023

By Soo-hyang Choi SEOUL (Reuters) – South Korean prosecutors said they indicted a former Samsung Electronics executive on Monday on suspicion of stealing the company’s technology to build a chip factory in China. The defendant, who also formerly worked at SK Hynix as a vice president, is accused of illegally acquiring Samsung data to build …

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Singapore bank DBS deepens focus on booming family office business

12 Jun 2023

SINGAPORE (Reuters) – Singapore lender DBS Group is stepping up its focus on the business of family offices, where its assets have surged in the last two years. Southeast Asia’s largest bank by assets is introducing a new investment platform tailored towards the needs of family offices, which are one-stop firms that manage the portfolios …

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