Reuters Asia Business

By Bernadette Christina and Stefanno Sulaiman JAKARTA (Reuters) – Sales of electric cars in Indonesia jumped last month after the government launched tax incentives, auto executives said, in an early sign that electric vehicle (EV) adoption is gaining traction in Southeast Asia’s largest economy. Effective from April, Indonesia cut the value-added tax (VAT) on electric …

Indonesia tax cut drives electric car sales for Hyundai, Wuling Read More »

KARACHI, Pakistan (Reuters) -The Pakistani rupee fell 1.3% to a record low of 288.5 against the U.S. dollar on Wednesday, a day after former prime minister Imran Khan was arrested by the anti-corruption agency in Islamabad. Pakistan’s international bonds nudged lower with the 2024 issue down 0.4 cents on the dollar, according to Tradeweb data. …

Pakistan rupee, bonds fall to new low after Imran Khan arrest Read More »

SHANGHAI (Reuters) -BYD Co Ltd on Wednesday cut the starting price of its best-selling Seal sedan by 10%, as the Chinese electric vehicle (EV) giant seeks to extend its lead in the world’s largest auto market with lower-priced products. The company replaced its line-up of the model with five new versions. That includes a rear-wheel …

China’s BYD cuts starting price for Seal EV; aims to extend lead Read More »

BERLIN (Reuters) – Volkswagen investors will demand answers from the carmakers’ executives at its annual general meeting on Wednesday on its competitiveness in China and its contested plant in Xinjiang, advance copies of their speeches showed. Chief Executive Oliver Blume will acknowledge the fast pace of China’s electrification, and outline Volkswagen’s strategy to hold on …

Chinese competition, Xinjiang plant loom large for Volkswagen investors at AGM Read More »

TOKYO (Reuters) -Mitsubishi Heavy Industries on Wednesday said it expects to book record defence equipment orders this business year as Japan embarks on its biggest military expansion since World War Two. The government plan to double defence spending to around 2% of gross domestic product within five years includes subsidies to support Japan’s fractured defense …

Mitsubishi Heavy expects record defence orders as Japan pours money into military Read More »

By Kantaro Komiya TOKYO (Reuters) – Japan’s economy likely grew in January-March at the fastest pace in three quarters, as spending in the services sector offset soft business activity, a Reuters poll showed. Japan has so far been spared major impact from deteriorating global economic conditions thanks in part to the services sector enjoying a …

Japan GDP growth likely accelerated in Q1 on robust services consumption- Reuters poll Read More »

By Sam Nussey and Kiyoshi Takenaka TOKYO (Reuters) -Japan’s Nintendo Co Ltd on Tuesday said it sees a further slide in sales of its aging Switch console to 15 million units in the financial year to end-March 2024, a 17% annual drop that would mark a third consecutive year of decline. The Kyoto-based gaming firm …

Nintendo sees Switch sales sliding; hails ‘Super Mario’ movie success Read More »