Reuters Asia Business

By Andrea Shalal and Christian Kraemer NIIGATA, Japan (Reuters) -Finance leaders of the Group of Seven (G7) advanced economies will debate this week the idea of implementing targeted controls on investments to China, which analysts see as a double-edged sword that could make little headway. China is much on the minds of G7 finance leaders …

G7 finance heads face tricky trade-off in debating steps to counter China Read More »

WASHINGTON (Reuters) -Dutch medical device maker Philips will pay $62 million (56 million euros) to resolve charges it violated the Foreign Corrupt Practices Act over its conduct related to sales of medical equipment to China, the U.S. Securities and Exchange Commission said on Thursday. Philips said the settlement related to allegations of “irregularities in the …

Philips to pay $62 million to resolve charges it violated US law Read More »

(Reuters) – Volkswagen’s said on Friday its group deliveries jumped 39% year-on-year in April, bringing the total number of vehicles shipped worldwide that month to 720,200. The result was particularly boosted by a 79% surge in China, where the leading German automotive group delivered 255,700 cars. In Western Europe, it had sent a total of …

Volkswagen’s April deliveries jump 39% thanks to China boost Read More »

HONG KONG (Reuters) – Hong Kong’s economy grew 2.7% in the first quarter from a year earlier, government data showed on Friday, adding that inbound tourism and domestic demand would remain drivers for growth this year. It was the first quarter of growth after four consecutive ones of contraction. On a seasonally-adjusted quarterly basis, the …

Hong Kong’s Q1 GDP grows 2.7% y/y Read More »

By Mei Mei Chu and A. Ananthalakshmi KUALA LUMPUR (Reuters) – Some of Malaysia’s largest palm oil producers are not hiring workers from Bangladesh because of concerns over exploitative practices during recruitment, companies and labour consultants say. Planters in the world’s second-largest palm oil producer have in recent years stepped up efforts to implement ethical …

Malaysian palm oil firms say they are not hiring from Bangladesh over recruitment concerns Read More »

By Xinghui Kok SINGAPORE (Reuters) -Singapore’s longest-serving central banker Ravi Menon has been reappointed in his role for another two years, the Monetary Authority of Singapore (MAS) said on Friday.     Menon’s term as managing director of MAS was due to end on May 31. There had been earlier reports that he was to be …

Singapore’s long-serving central bank chief reappointed for 2 years Read More »

By Makiko Yamazaki TOKYO (Reuters) -Toshiba Corp said on Friday it was working with Japan Industrial Partners (JIP) to quickly complete a $15-billion buyout by the private equity firm, as the industrial conglomerate forecast another year of weak earnings. After Toshiba’s board in March accepted a 2 trillion yen ($14.8 billion) buyout offer from the …

Toshiba says working with JIP to ‘quickly complete’ $15 billion buyout Read More »

By Sam Nussey TOKYO (Reuters) -Japanese e-commerce and fintech giant Rakuten Group Inc on Friday posted an operating loss of 76.2 billion yen ($564.24 million) for the first three months of 2023, dragged down by its money-losing mobile business. Rakuten posted a January-March loss of 102.7 billion yen for the mobile business – though that …

Rakuten books Q1 loss, offloads Seiyu stake as mobile bleeds Read More »

BERLIN (Reuters) – The market share of electric cars shipped to Germany from China more than tripled in the first quarter, the German statistics office said on Friday, a worrying sign for German carmakers struggling to keep up with their fast-moving Chinese peers. From January to March, 28.2% of passenger cars with electric motors imported …

Share of e-cars imported from China into Germany more than triples Read More »

FRANKFURT (Reuters) – Germamy’s Thyssenkrupp and Japan’s NSK have terminated discussions over a possible automotive joint venture, the companies said on Friday, exactly a year after first unveiling the talks. NSK, in a results presentation, said it instead signed a joint venture agreement with corporate turnaround fund Japan Industrial Solutions. (Reporting by Christoph Steitz, Editing …

Thyssenkrupp, NSK joint venture talks terminated Read More »