Reuters Asia Business

(Reuters) -Chindata Group said on Wednesday that investor Bain Capital has offered to take the Chinese data center operator private in a deal valuing the company at $2.93 billion. Chindata’s shares, which have lost more than a fifth of their value this year, rose about 14% to $7.18 in early trading. Bain Capital’s proposal values …

Bain Capital values Chindata at nearly $3 billion in take-private offer Read More »

By Selena Li BEIJING (Reuters) -Citigroup’s CEO Jane Fraser said the bank will continue to expand its business in China during her first visit to the country this week as the U.S. firm’s chief, amid Beijing’s push to attract more foreign capital. Fraser held a meeting with the head of China’s new financial regulator on …

Citigroup CEO pledges to Beijing to continue China expansion Read More »

By Noah Browning and Philip Blenkinsop LONDON (Reuters) – The European Commission is investigating the flow of allegedly fraudulent biofuels into the EU following a complaint from Germany, sources told Reuters, as a Commission spokesman said the bloc was determined to tighten oversight of the trade. The spokesperson said in an email to Reuters that …

Germany triggers EU investigation into Chinese biofuels – sources Read More »

By Tetsushi Kajimoto and Takaya Yamaguchi TOKYO (Reuters) -Japan is committed to putting the economy before fiscal reform, Prime Minister Fumio Kishida’s government said in its draft mid-year policy framework, while signalling an end to crisis-mode stimulus spending to return to one in “peacetime”. The draft framework, which was presented at Kishida’s top economic advisory …

Japan keeps growth focus but signals end to crisis-mode fiscal largesse Read More »

TAIPEI (Reuters) – Taiwan’s exports fell for a ninth consecutive month in May, although meeting expectations, in a symptom of anaemic demand for the island’s tech products from China and global markets, with matters not expected to improve until the third quarter. Exports last month were down 14.1% in value on the year, at $36.13 …

Taiwan May exports drop again as China weighs; outlook stays dim Read More »

By Ariba Shahid KARACHI, Pakistan (Reuters) – Pakistan’s government will hope to find a balance between reforms to satisfy the International Monetary Fund and measures to win over voters in an imminent election in its budget for the 2023-24 fiscal year to be announced on Friday, analysts said. Pakistan’s IMF programme runs out this month …

Pakistani budget caught between IMF expectations and election Read More »

(Reuters) – Japan’s Itochu Corp said on Wednesday it has jointly established a power storage company with Osaka Gas Co and Tokyo Century Corp, as the country’s expansion in renewable energy drives demand for storage capacity. The joint venture would start construction of large-scale lithium ion storage batteries in Osaka prefecture in the first half …

Japanese companies team up for battery storage project to fuel clean energy expansion Read More »

By Makiko Yamazaki and Ritsuko Shimizu TOKYO (Reuters) – Japan’s financial regulator is exploring ways to bolster financing for leveraged buyouts (LBOs) and is in discussions with big banks and other institutions about how to bring more participants into the market, regulatory officials said. As more corporations step up sales of non-core assets or seek …

Japan regulator exploring ways to bolster leveraged buyout financing Read More »

HONG KONG (Reuters) – Some of China’s distressed property developers face the risk of being delisted, which would reduce their options for restructuring and make them more vulnerable to liquidation, S&P Global Ratings said on Wednesday. China’s private developers have been in turmoil since mid-2021 after Beijing’s crackdown on debt impacted first Evergrande Group and …

China property liquidation risk heightened by delisting threat, says S&P Read More »