Reuters Asia Business

SEOUL (Reuters) – Abu Dhabi organisations have identified about $2 billion of investment opportunities in South Korea after the two sides agreed to expand business ties in January, a joint statement said on Monday. The United Arab Emirates (UAE) pledged during South Korean President Yoon Suk Yeol’s visit to Abu Dhabi in January to invest …

Abu Dhabi identifies $2 billion in investment opportunities in South Korea Read More »

MUMBAI (Reuters) -Private equity company Blackstone Inc said it has fully acquired the jewellery certification firm International Gemological Institute (IGI) from China’s Fosun and the company’s founding family. Blackstone bought IGI, whose majority revenue and profits come from India, for about $530 million, a person with direct knowledge of the matter said on condition of …

Blackstone acquires International Gemological Institute Read More »

LIMA (Reuters) – The Peruvian prosecutor’s office said on Wednesday it has launched an investigation into China’s COSCO Shipping Ports Ltd after a landslide at one of the company’s tunnel construction sites at a major port project in the country. The incident, which took place Tuesday morning in the coastal province of Huaral, damaged at …

Peru probes China’s COSCO Shipping Ports after construction site landslide Read More »

By Katya Golubkova and Sakura Murakami HIROSHIMA, Japan (Reuters) – The International Energy Agency (IEA) does not expect moves by the Group of Seven nations to counter the evasion of price caps on Russian energy will change the supply situation for crude oil and oil products, the IEA’s Executive Director Fatih Birol said. The G7, …

Oil supply won’t be affected by stricter price cap enforcement – IEA Read More »

SYDNEY (Reuters) – Australian Prime Minister Anthony Albanese said on Sunday that he backed a Group of Seven (G7) joint statement out of Japan stressing the need to ease reliance on trade with China. The G7 rich nations, which increasingly see China as a economic security threat, on Saturday issued a communique from the city …

Australian PM backs G7 on ‘de-risking’ trade with China Read More »

HIROSHIMA, Japan (Reuters) – Members of the Group of Seven rich nations will ensure big investments in China continue even as they pare risky exposure to the world’s second-largest economy, Germany Chancellor Olaf Scholz said on Sunday. G7 leaders are wrapping up a three-day summit in the Japanese city of Hiroshima, where they sent signals …

G7’s China investment continues even as members ‘de-risk’ – Germany’s Scholz Read More »

BEIJING (Reuters) – China’s exports to North Korea soared in April from a year earlier, with wigs and fertiliser among major shipments, Chinese customs data showed on Saturday. Chinese outbound shipments to the isolated country surged 69% year-on-year to $166 million in April, data released by China’s General Administration of Customs showed. The top export …

China’s exports to North Korea surge in April Read More »

(Reuters) – Leaders of the Group of Seven (G7) agreed on Saturday to establish an initiative to counter economic “coercion”, pledging to take steps to ensure that any actors attempting to “weaponise” economic dependence would fail and face consequences. The initiative, dubbed Coordination Platform on Economic Coercion, will use early warning and rapid information sharing …

Factbox-Excerpts from G7 leaders’ statement on economic coercion Read More »

SINGAPORE/BEIJING (Reuters) – China’s crude oil imports from Russia rose 8.6% in April from a year earlier, as larger private refiners also embarked on purchases of the discounted fuel. Arrivals from Russia – including seaborne shipments and supplies via pipelines – totalled 7.1 million tonnes or 1.73 million barrels per day (bpd), according to customs …

China’s Russian oil imports rise in April but Saudi is top supplier Read More »