Reuters Asia Business

By Ira Dugal MUMBAI (Reuters) – India will withdraw its highest denomination currency note from circulation, the central bank said on Friday. The 2000-rupee note, introduced into circulation in 2016, will remain legal tender but citizens have been asked to deposit or exchange these notes by Sept. 30, 2023. The decision is reminiscent of a …

Explainer-What India’s decision to scrap its 2000-rupee note means for its economy Read More »

(Reuters) -Samsung Electronics will not change the default search engine on its smartphones from Google to Microsoft Corp’s Bing any time soon, the Wall Street Journal reported on Friday, citing people familiar with the matter. Samsung has suspended an internal review that explored replacing Google with Bing on its web-browsing app, which comes pre-installed on …

Samsung not planning to replace Google with Bing in phones – WSJ Read More »

PARIS (Reuters) -EU industry chief Thierry Breton said on Friday he had recently spoken with TikTok Chief Executive Shou Zi Chew and told him there was still a lot to do for the Chinese-owned social network in order to comply with EU rules. “I told him that, as of now, there is still a lot …

EU’s Breton: TikTok still a long way from EU rules compliance Read More »

(Reuters) – The Hong Kong Stock Exchange said on Friday it would launch the new dual counter trading model on June 19, wherein investors would be able to begin interchanging securities listed in both Hong Kong dollar and renminbi counters. The bourse operator had late last year disclosed plans to amend the existing model of …

Hong Kong exchange to roll out new dual counter model in June Read More »

By Leika Kihara TOKYO (Reuters) -Bank of Japan (BOJ) Governor Kazuo Ueda said the central bank is unwavering in its stance of patiently maintaining ultra-loose monetary policy, reassuring markets Japan will be a dovish outlier as its global peers combat stubbornly high inflation. The recent rise in Japanese inflation above the BOJ’s 2% target is …

BOJ’s Ueda vows to maintain easy policy, rules out chance of early exit Read More »

(Reuters) -China is considering transferring government ownership in the country’s biggest bad debt managers to a unit of its sovereign wealth fund, Bloomberg News reported on Friday. Under the proposal, the Ministry of Finance will move its stakes in China Cinda Asset Management Co, China Great Wall Asset Management and China Orient Asset Management to …

China is considering moving stakes in bad debt managers to sovereign fund -Bloomberg News Read More »

(Reuters) -India has approved a three-month trial of Battlegrounds Mobile India (BGMI), a popular battle-royale format game that was banned for nearly a year, a minister from the government said on Friday. The Indian government had blocked BGMI, the flagship game made by South Korea’s Krafton Inc, in July, citing concerns about its data-sharing and …

India approves 3-mth trial of BGMI, Krafton’s blocked battle-royale game – Minister Read More »

SHANGHAI/SINGAPORE (Reuters) – China is expected to leave lending benchmarks unchanged at a monthly fixing on Monday, a Reuters survey showed, as the cost of medium-term policy loans was kept steady, while the yuan currency faced renewed downside pressure. The loan prime rate (LPR) normally charged to banks’ best clients is calculated each month after …

China set to hold lending benchmarks steady in May, survey shows Read More »

By Leika Kihara TOKYO (Reuters) – As inflation has run past the Bank of Japan’s 2% target, governor Kazuo Ueda has had no shortage of advice from fellow academics on how best to communicate the future path of monetary policy including a possible exit from its massive stimulus. The proposals include call for the BOJ …

Academics weigh in on how BOJ’s Ueda can exit easy policy Read More »

By James Pomfret and Engen Tham HONG KONG/SHANGHAI (Reuters) – Some Hong Kong-based staff with U.S. consultancy Mintz Group have left the city after the firm’s Beijing office was raided by Chinese police in March, according to two sources with direct knowledge of the matter. Investigations by Chinese authorities into Mintz, as well as U.S. …

Exclusive-US consultancy Mintz’s executives leave Hong Kong after China raid-sources Read More »