Reuters Asia Business

By Eduardo Baptista BEIJING (Reuters) – In the years before China declared U.S. firm Micron Technology’s products a national security risk, authorities were already scaling back purchases of its chips, opting instead for domestic or South Korean options, documents showed. A Reuters review of over a hundred public government tenders found that while previously Chinese …

China was reducing Micron chip purchases years before ban Read More »

By Sam Nussey TOKYO (Reuters) -S&P Global Ratings cut SoftBank Group Corp’s long-term rating deeper into junk territory on Tuesday, leading the Japanese tech investment conglomerate to question the downgrade. S&P lowered SoftBank’s rating to BB from BB-plus, citing SoftBank’s exposure to unlisted companies that are susceptible to changes in the external environment. “There is …

SoftBank questions S&P after it cuts rating deeper into junk Read More »

SINGAPORE (Reuters) – China, the world’s third-largest gas buyer, imports the fuel in gaseous form via long-distance pipelines from three sources – central Asia, predominantly Turkmenistan, as well as Russia and Myanmar. Its pipeline gas volumes totalled 45.8 million tonnes in 2022, meeting 17% of China’s gas demand. China separately imported 63.4 million tonnes of …

Factbox-China’s main import gas pipelines Read More »

By Josh Ye HONG KONG (Reuters) – China’s Lenovo Group Ltd on Wednesday reported a 24% fall in revenue for the January-March quarter, meeting market expectations, as demand for personal computers (PCs) continued to slump. The world’s largest PC maker said fourth-quarter revenue was $12.63 billion, down 24% from the same period a year earlier …

China’s Lenovo revenue falls for third consecutive quarter as PC demand slumps Read More »

TOKYO (Reuters) -Japanese e-commerce and fintech conglomerate Rakuten Group Inc will raise up to 294.2 billion yen ($2.18 billion) by issuing new shares, it said on Wednesday as it works to offset the financial impact of losses at its mobile business. Rakuten said it will raise up to 252.5 billion yen via a public offering …

Japan’s Rakuten set to raise $2.18 billion through share issue Read More »

SHANGHAI (Reuters) – A U.S. lawmaker’s demand for trade curbs on a Chinese memory chipmaker in response to China calling products from Micron Technology a national security risk is the latest escalation of tension between the big powers. The United States and China have been tussling over a range of issues, from Taiwan to technology, …

Factbox-US-China tensions intensify over tech to Taiwan flashpoints Read More »

TOKYO (Reuters) – China remains a high-priority market even as geopolitical concerns have highlighted the need to develop robust supply chains elsewhere, the group chief executive of Japan’s Panasonic Holdings Corp said on Wednesday. Yuki Kusumi made the comment in a roundtable interview with reporters in Tokyo. The Group of Seven (G7) leaders’ summit, which …

Despite supply chain risks, China remains high-priority market, Panasonic says Read More »

By Enrico Dela Cruz and Emily Chow MANILA/SINGAPORE (Reuters) – With just four years before the Philippines’ only gas field is set to run dry, the country has started importing liquefied natural gas (LNG), creating a fresh headache for a government struggling to curb high inflation. LNG is needed to help replace gas from the …

Analysis-As gas reserves wane, Philippines faces rising costs in switch to LNG Read More »