Reuters Asia Business

By Ellen Zhang and Joe Cash BEIJING (Reuters) -China’s April industrial output and retail sales growth undershot forecasts, suggesting the economy lost momentum at the beginning of the second quarter and intensifying pressure on policymakers to shore up a wobbly post-COVID recovery. Tuesday’s batch of data, which also showed a further decline in property investment, …

China’s April data show economic recovery losing steam, testing policymakers Read More »

By Toby Sterling ANTWERP, Belgium (Reuters) – EU industry chief Thierry Breton on Tuesday touted the European Chips Act passed last month, saying Europe must manufacture its own cutting-edge computer chips and not be relegated to a position on research or in building relatively older chips. “With the Chips Act now agreed, we are sending …

EU must build cutting-edge computer chips – industry chief Breton Read More »

By Andrew Goudsward (Reuters) – Exxon Mobil Corp on Monday settled a long-running human rights lawsuit with villagers who claimed soldiers Exxon hired to guard a natural gas facility in Indonesia committed murder and torture. The two sides said in a Washington, D.C., federal court filing that they had resolved the 2001 case. Agnieszka Fryszman, …

Exxon settles Indonesia torture case that led to SEC official’s ouster Read More »

By Carolina Mandl SAO PAULO (Reuters) – Big investment firms including Macquarie Group Ltd, Fidelity and hedge funds Tiger Global Management and Coatue Management LLC were among the largest buyers of U.S. listed shares of Taiwanese contract chipmaker TSMC, in the first quarter, according to regulatory filings. Their moves come roughly three months after Warren …

TSMC added by Macquarie, Fidelity and Coatue after Buffett cut stake -filings Read More »

By Maki Shiraki and Makiko Yamazaki TOKYO (Reuters) – Kioxia Holdings Corp and Western Digital Corp are speeding up merger talks and nailing down a deal structure, two sources with direct knowledge of the matter said, as a slumping flash memory market puts fresh consolidation pressure on the world’s No. 2 and No. 4 players. …

Exclusive-Kioxia, Western Digital speed up merger talks as memory chip demand slumps -sources Read More »

By Uditha Jayasinghe COLOMBO (Reuters) -The International Monetary Fund (IMF) mission in Sri Lanka will evaluate progress made on reforms so far and complete an exercise to improve governance in key areas of the economy, an IMF official said on Monday. An IMF team is in Colombo until May 23 as part of regular consultations …

IMF official says Sri Lanka reforms critical, evaluating progress Read More »

BEIJING (Reuters) – China’s central bank said on Monday it would keep liquidity reasonably ample and interest rates reasonable and appropriate, focusing on supporting domestic demand amid uncertainties. The People’s Bank of China (PBOC) would provide “strong and stable” support for the real economy under its “prudent” monetary policy that would be precise and forceful, …

China central bank to keep liquidity ample, support economic recovery Read More »