Reuters Asia Business

By Devayani Sathyan BENGALURU (Reuters) – The Philippines central bank will likely leave its key interest rate unchanged at 6.25% on Thursday, and keep it there for the rest of 2023, marking an end to a year-long tightening cycle as inflation shows signs of cooling, a Reuters poll found. Although annual inflation slowed to 6.6% …

Philippine central bank to hold rates at 6.25% in May after nine straight increases – Reuters poll Read More »

By Kane Wu HONG KONG (Reuters) – Sweden’s Essity has kicked off the sale process for its 52% stake in Hong Kong-based Vinda International – a maker of tissues and diapers, two sources with knowledge of the situation told Reuters. Bank of America, Essity’s adviser on the sale, has sent information to potential buyers including …

Sweden’s Essity kicks off sale of majority stake in Hong Kong’s Vinda – sources Read More »

(Reuters) – China’s Tencent Music Entertainment Group on Tuesday reported higher revenue after five straight quarterly declines, driven by growth in paying users on its Spotify-like music streaming platform, sending its U.S.-listed shares up nearly 3% in premarket trading. The company, which is China’s answer to Spotify, has been ramping up its original content slate …

China’s Tencent Music revenue beats estimates on strong user growth  Read More »

By Emily Chow ADELAIDE, Australia (Reuters) – Woodside Energy Group said on Tuesday it is open to talks with Chinese firms to invest in its $12 billion Scarborough liquefied natural gas (LNG) project in Australia. The company has also started talks with a number of prospective buyers for LNG supplies from the project, Woodside Chief …

Woodside open to talks with Chinese firms for Scarborough gas project Read More »

ASTANA (Reuters) – Kazakhstan and Russia have established the route for a future gas pipeline to support shipments between the two countries and to China, Kazakhstan’s energy minister said on Tuesday. The pipeline would help Russia, hit by Western sanctions over its invasion of Ukraine, boost sales of its energy and commodities in Asia while …

Kazakhstan, Russia map out gas pipeline to China Read More »

By Orathai Sriring and Satawasin Staporncharnchai BANGKOK (Reuters) – Hefty wage increases promised by the winners of Thailand’s election would hurt businesses, jobs, and competitiveness, an industry group said on Tuesday, after industrial sentiment dropped last month. The Southeast Asian country’s main opposition parties, Move Forward and Pheu Thai, agreed on Monday to form a …

Thai industry group warns of impact of big wage increases Read More »

(Reuters) – Tesla Inc has applied for regulatory clearance to expand its Shanghai plant and to begin producing for the first time pouch-type battery cells, albeit in small numbers. An undated public notice said the potential expansion would give the Shanghai Gigafactory the capacity to produce 1.75 million powertrain units annually, up from 1.25 million …

Tesla applies to expand Shanghai plant, add pouch battery cell output Read More »

TOKYO (Reuters) -Japan’s Rakuten Group Inc said on Tuesday it aimed to raise up to 332 billion yen ($2.46 billion) by issuing new shares, marking the latest step by the loss-making e-commerce and fintech company to fortify its finances. Rakuten said in a statement it aimed to raise about 290 billion yen via a public …

Loss-making Rakuten announces $2.5 billion share issue to bolster finances Read More »