Reuters Asia Business

KKR, Macquarie eyeing Singapore’s waste management firm SembWaste – sources

9 May 2023

By Kane Wu and Yantoultra Ngui HONG KONG/SINGAPORE (Reuters) – U.S. private equity group KKR & Co Inc and Australia’s Macquarie Asset Management are among potential bidders for the waste and recycling management arm of Singapore’s energy group Sembcorp in a deal that could value the unit at around $500 million, said two sources with …

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Japan hopes for G7 agreement on establishing new supply-chain scheme

9 May 2023

TOKYO (Reuters) – Japan is aiming to lead the Group of Seven financial leaders to agree on establishing a mutually beneficial partnership between low and middle-income nations and advanced countries to strengthen global supply chains, Japanese officials said on Tuesday. The officials unveiled the plan ahead of the G7 financial leaders’ May 11-13 summit, which …

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TIMELINE-China’s steps to control its data and information

9 May 2023

By Josh Ye HONG KONG (Reuters) – A Chinese investigation of consulting firm Capvision Partners over national security concerns is the latest step in a years-long campaign by Beijing to tighten control of data generated within its borders. State media accused overseas institutions of using domestic consulting firms to steal state secrets and intelligence in …

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China’s car sales rise 2.1% in April as price war effect fades

9 May 2023

BEIJING/SHANGHAI (Reuters) – China’s passenger vehicle sales rose by 2.1% in April from a month earlier, industry data showed, underscoring a slower pace of growth as the stimulus effect of price cuts and incentives faded. Car sales in April totalled 1.65 million units, 54.5% higher from a year earlier when COVID-19 lockdowns disrupted productions and …

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EU decries China consultancy crackdown as foreign corporate unease grows

9 May 2023

By Laurie Chen and James Pomfret BEIJING/HONG KONG (Reuters) -The European Union said on Tuesday a crackdown in China on consulting firms was “not good news”, as Chinese state media suggested authorities would intensify law enforcement action to safeguard national security. The scrutiny of consulting firms comes as China is set to expand its counter-espionage …

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British investment minister visits Hong Kong, first official visit in 5 years

9 May 2023

HONG KONG (Reuters) – Britain’s Minister for Investment Dominic Johnson said he held a series of meetings with government officials and executives in Hong Kong this week, the first official visit from a senior British official to the city in five years. Johnson’s visit comes after relations between Britain and Hong Kong have been increasingly …

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Japan says G7 to discuss strengthening global banking system

9 May 2023

By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) -Finance leaders of the Group of Seven (G7) advanced economies will discuss this week ways to strengthen the global financial system, Japan’s finance minister said on Tuesday, as recent U.S. bank failures bring the risk of digital bank runs into focus. “The environment surrounding finance has changed …

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PayPal adjusted margin forecast cut eclipses higher profit expectations

9 May 2023

By Manya Saini (Reuters) – PayPal Holdings Inc on Monday cut its outlook for annual adjusted operating margin, overshadowing its profit forecast raise, sending shares in the payments firm down 5% in extending trading. PayPal expects adjusted operating margin expansion of 100 basis points this year, compared with its earlier forecast of a 125-basis-point growth. …

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