Reuters Asia Business

By Uditha Jayasinghe COLOMBO (Reuters) – The Asian Development Bank (ADB) on Monday approved a $350 million special policy-based loan to provide budget support to Sri Lanka for economic stabilisation, the regional lender said in a statement. The programme is part of a broader package of financial assistance anchored by the International Monetary Fund’s (IMF) …

Debt-ridden Sri Lanka gets $350 million loan boost from Asian Development Bank Read More »

By Urvi Manoj Dugar and Yantoultra Ngui (Reuters) -Singapore’s Temasek Holdings said it cut compensation for the team that recommended investing in the now-bankrupt FTX cryptocurrency exchange and for senior management, as they take “collective accountability” for the failed investment. The cuts were disclosed in a statement on Monday, a rare announcement for sovereign funds …

Singapore’s Temasek cuts staff compensation after failed FTX investment Read More »

BEIJING (Reuters) – China’s factory activity likely contracted further in May, a Reuters poll showed on Monday, adding to pressures facing the world second-biggest economy amid an uneven economic recovery from the COVID-19 pandemic. The official manufacturing purchasing managers’ index (PMI) is expected to rise to 49.4 in May from 49.2 in April, according to …

China’s factory activity likely contracts in May – Reuters poll Read More »

(Reuters) – Singapore Airlines Ltd and Garuda Indonesia plan to enter into a joint venture (JV) to increase passenger capacity between the two countries, the flag carriers said on Monday, as post-COVID tourism in Southeast Asia ramps up. The proposed JV would allow the carriers to potentially synchronise schedules, improving passengers’ connectivity and convenience, and …

Singapore Airlines, Garuda Indonesia plan JV to boost passenger capacity Read More »

TAIPEI (Reuters) – Artificial intelligence means everyone can now be a computer programmer as all they need to do is speak to the computer, Nvidia Corp CEO Jensen Huang said on Monday, hailing the end of the “digital divide”. Nvidia has surged to become the world’s most valuable listed semiconductor company as a major supplier …

AI means everyone can now be a programmer, Nvidia chief says Read More »

By Joseph White DETROIT (Reuters) -Nvidia Corp and MediaTek Inc on Monday said they will collaborate on technology to power advanced vehicle infotainment systems that can stream video or games or interact with drivers using artificial intelligence. Under the agreement, announced at the Computex technology trade show in Taipei, MediaTek will integrate an Nvidia graphic …

Nvidia, MediaTek partner on connected car technology Read More »

By Jane Lanhee Lee and Stephen Nellis (Reuters) – SoftBank Group Corp owned chip designer Arm on Monday rolled out new technology for mobile devices and Taiwan smartphone chip maker MediaTek Inc said it will be using it for its next-generation product. MediaTek, a longtime supplier of low- and mid-tier smart phone chips, has been …

SoftBank’s Arm rolls out new smartphone tech, MediaTek signs up to use Read More »

By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) – Thailand’s economy is on a solid path to recovery and showing resiliency, helped by good revenue collection and a normalisation of its tourism sector, while inflation should come in below 3% this year, its finance minister said on Monday. Southeast Asia’s second-largest economy expanded faster than …

Thai economy resilient, on path to full recovery – Finance Minister Read More »

By Kevin Buckland TOKYO (Reuters) – Japan’s Nikkei share average rose on Monday to its highest level since July 1990, buoyed by optimism over a U.S. debt ceiling deal and a weaker yen. SoftBank Group jumped more than 8% as shares of Japanese chip-related companies continued to outperform amid the AI euphoria that also propelled …

Japan’s Nikkei hits 1990 high on weak yen, US optimism; SoftBank surges Read More »