Reuters Asia Business

MOSCOW (Reuters) – Russia is expected to increase seaborne oil exports from its western ports this month to a four-year high to meet Asian demand for low-priced oil, two sources familiar with the loading plans from the ports said. Weaker global prices mean Russian oil trades below $60 per barrel, the price cap level imposed …

Russian oil companies ramp up May exports to meet Asian demand Read More »

BEIJING (Reuters) – China’s average daily home sales by floor area were down 22% compared with the May Day holiday period before COVID-19, as demand remains subdued in small and medium-sized cities, a private survey showed on Thursday. Average daily home sales fell 28% in what are known as tier-two cities during the five-day holiday …

China’s holiday home sales fall sharply against pre-COVID level – survey Read More »

By Amy Lv, Rajendra Jadhav and Kavya Guduru BEIJING/MUMBAI/BENGALURU (Reuters) – On a recent evening in April, only three or four people browsed among the several gold jewellery booths in a plaza in Beijing’s high-end Wangfujing shopping district and all left without buying anything. “I’m just taking a look. I do not consider buying right …

Lofty prices tarnish gold’s lustre in top Asian retail hubs Read More »

SEOUL (Reuters) – South Korea’s SK Hynix Inc plans to expand its legacy chip production capacity at its chip manufacturing facilities in China, market research firm TrendForce said. The world’s second-biggest memory chip maker’s long-term strategy involves shifting its capacity expansion back to South Korea, while its China chip production site caters to domestic demand …

TrendForce says SK Hynix to raise China legacy chip output capacity Read More »

TAIPEI (Reuters) – Taiwan’s central bank debated the need for further rate hikes this year to combat persistent inflation, minutes from its last board meeting showed on Thursday. The central bank, at its quarterly board meeting in March, unanimously decided to raise its policy rate by 12.5 basis points (bps) to 1.875%, a surprise move …

Taiwan central bank may keep raising interest rates, minutes show Read More »

HONG KONG (Reuters) -Hong Kong’s March retail sales rose 40.9% from a year earlier, the second biggest percentage rise on record, as consumer and visitor spending continued to improve, though the low base of comparison also contributed, government data showed on Thursday. Sales increased to HK$33.6 billion ($4.28 billion) in a fourth consecutive month of …

Hong Kong March retail sales jump 40.9% in fourth month of growth Read More »

By Ariba Shahid KARACHI (Reuters) -The International Monetary Fund (IMF) is preparing to discuss Pakistan’s budget plans for the coming financial year, as part of a long-awaited financing injection from the lender for the cash-strapped nation, the IMF’s country mission chief said on Thursday. Negotiations over key budget targets such as the fiscal deficit are …

IMF to discuss Pakistan’s budget plans as elusive funding lifeline nears Read More »

BENGALURU (Reuters) -India’s Adani Ports and Special Economic Zone Ltd said on Thursday that it has completed the sale of its port in sanction-hit Myanmar for $30 million, significantly lower than its investment in the project. The Adani Group company announced the sale in May 2022 after a military coup in Myanmar and an ensuing …

India’s Adani Ports sells Myanmar port at heavy discount of $30 million Read More »