Reuters Asia Business

SHANGHAI (Reuters) – China’s industry ministry issued on Friday a series of draft technical standards including cybersecurity requirements for vehicles, with the country moving to tighten data regulation as cars become more intelligent. Among the proposed rules, the Ministry of Industry and Information Technology plans to ban smart vehicles in China from transferring data directly …

China’s industry ministry issues draft data standards for smart vehicles Read More »

By Ritsuko Shimizu TOKYO (Reuters) – A spin-off of 7-Eleven would jeopardise the convenience store chain’s future growth by cutting it off from its parent’s strength in the food business, the chief executive of Japan’s Seven & i Holdings Co Ltd told Reuters. The comments from Ryuichi Isaka come as he faces a call for …

7-Eleven spin-off would jeopardise growth, CEO says, pushing back at ValueAct Read More »

By Neil Jerome Morales and Enrico Dela Cruz MANILA (Reuters) – Philippine annual inflation was on track to settle within the government’s 2% to 4% target in the fourth quarter after it eased further in April, officials said on Friday, building the case for pausing interest rate hikes. The consumer price index rose 6.6% in …

Philippine inflation slows in April, builds case for a rate pause Read More »

By Navya Mittal and Yantoultra Ngui (Reuters) -The Monetary Authority of Singapore on Friday imposed additional capital requirement on DBS Bank, the banking arm of the country’s largest lender DBS Group, following the disruption of its banking services in recent months. The moves follows the widespread unavailability of the bank’s digital banking services on March …

Singapore’s central bank imposes additional capital requirement on DBS Bank Read More »

BEIJING/SHANGHAI (Reuters) -Tesla Inc delivered 75,842 China-made electric vehicles (EVs) in April, down 14.7% from March, data from the China Passenger Car Association (CPCA) showed on Friday. The figure was however a huge jump from a year earlier, when the city of Shanghai – where Tesla has a factory – was in COVID-19 lockdown. In …

Tesla’s April sales of China-made EVs down 14.7% from March – CPCA Read More »

By Stefanno Sulaiman and Gayatri Suroyo JAKARTA (Reuters) -Indonesia’s economy grew faster than expected in the first quarter, as consumer and government spending offset a slowdown in exports and investment in Southeast Asia’s largest economy. Gross domestic product (GDP) expanded 5.03% in the January to March quarter from a year earlier, data from Statistics Indonesia …

Indonesia Q1 GDP beats forecasts, soft exports cloud outlook Read More »

TAIPEI (Reuters) – Taiwan’s Foxconn, the world’s largest contract electronics maker and major iPhone assembler, said on Friday revenue in April fell 11.77% year-on-year due to weakness in smart consumer electronics, and expected business to drop this quarter. Foxconn said revenue last month reached T$429.2 billion ($14 billion), in line with the company’s own expectations. …

Foxconn’s April sales fall 12% on slowing smartphone business Read More »

HONG KONG (Reuters) -China’s largest express delivery company SF Holding Co Ltd plans to raise up to $3 billion in a second listing in Hong Kong as soon as later this year, in what would be one of the largest public floats in the city, one source said. The Shenzhen-listed courier group has picked Goldman …

Chinese courier group SF aims to raise up to $3 billion in Hong Kong listing – source Read More »