Reuters Asia Business

(Reuters) – The U.S. Treasury Department on Friday said it employed somewhat broader measures of trade and current account surpluses and currency interventions in its analysis of U.S. trading partners’ foreign exchange policies. The semi-annual report declined to label any U.S. trading partner a currency manipulator, although it found that Vietnam and Taiwan continued to …

Factbox-U.S. Treasury tweaked its currency manipulation test; what’s different? Read More »

By Asif Shahzad ISLAMABAD (Reuters) – Pakistan will end most exemptions on sales tax so that all sectors pay a uniform 17% as part of a package of belt tightening measures aimed at securing approval for a $1 billion tranche of IMF funding, officials said on Friday. As well as withdrawing sales tax exemptions worth …

Pakistan plans budget squeeze to win IMF funding approval Read More »

WASHINGTON (Reuters) – U.S. President Joe Biden said on Friday China could release more oil from its reserves although it has not done so yet, adding that decreases in gasoline prices are beginning to reach Americans. Citing a decision by the United States and other countries including India and Japan to release oil from reserves …

Biden says China may release more oil from reserves Read More »

TOKYO (Reuters) – Toyota Motor Corp said all new vehicle sales in Western Europe will be zero-emission models by 2035, as the world’s biggest automaker complies with tighter emission rules in the region. By 2030, at least half of Toyota’s model mix will be zero emission, including electric vehicles (EV) and hydrogen fuel cell cars, …

Toyota says all Europe sales will be zero-emission cars by 2035 Read More »

SARAJEVO (Reuters) – Power trader and operator (EFT) has signed an agreement on the construction of a 60-megawatt (MW) solar plant in Bosnia with China’s Dongfang Electric International Corporation (DEC), the EFT said in a statement on Friday. Last year EFT won a tender published by autonomous Serb Republic to build and operate for 50 …

EFT, China’s DEC sign $49 million deal to build solar plant in Bosnia Read More »

By Nivedita Balu (Reuters) – Nvidia Corp’s dreams of acquiring British chip technology provider Arm for a hefty price of over $80 billion may not materialize, but analysts believe the chipmaker has plenty to focus on as it pushes into the metaverse. On Thursday, the U.S. Federal Trade Commission sued to block the deal, which …

Nvidia metaverse future bright even as Arm may slip from grasp Read More »

TAIPEI (Reuters) – Taiwan’s trade surplus with the United States is due to the China-U.S. trade war and pandemic driving tech demand, a central bank official said on Friday, after the U.S. Treasury said the island continued to exceed its currency manipulation thresholds. The Treasury, in its semi-annual currency report, said no major U.S. trading …

Taiwan blames China-U.S. trade war, pandemic for U.S. trade imbalance Read More »

By Helena Soderpalm STOCKHOLM (Reuters) -Shares in Sweden’s Orphan Biovitrum (Sobi) plunged 23% on Friday after U.S. private equity firm Advent International and Singapore’s sovereign wealth fund said they were withdrawing their bid for the drugmaker. The company in September agreed to an $8 billion takeover by Advent and Aurora, an investment vehicle of Singapore’s …

Shares in drugmaker Sobi tumble as Advent, Aurora withdraw $8 billion bid Read More »

NEW YORK (Reuters) – Portfolio flows to emerging markets slowed by $100 billion last month from a year earlier and decelerated from October, hit by increased bets on tighter U.S. monetary policy and by weaker EM currencies, the Institute of International Finance (IIF) said. Non-resident flows to emerging markets landed at $15.6 billion last month, …

EM flows tumble in November from year-ago record – IIF Read More »