Reuters Asia Business

By Arshreet Singh (Reuters) – U.S. lithium miners Albemarle and Livent are expected to report a rise in quarterly profit this week, but investor focus will likely be on how they plan to navigate the slide in prices for the metal used in electric-vehicle batteries. Strong demand for EVs and limited supply of the metal …

As lithium miners gear up for first-quarter earnings, investors focus on tumbling prices Read More »

By Maha El Dahan and Ron Bousso (Reuters) -Saudi Arabian oil giant Aramco is in a “listening phase” on proposals from refining giant Sinopec Corp and French oil major TotalEnergies for a slice of a shale gas development project worth about $10 billion, two sources with knowledge of the matter said on Tuesday. Sinopec and …

TotalEnergies, Sinopec pitched for role in Saudi gas project -sources Read More »

Hong Kong (Reuters) -Hong Kong’s economy grew 2.7% in the first quarter of 2023, John Lee, the leader of the Asian financial hub, said in a surprise announcement ahead of Tuesday’s official release of the data, to snap four consecutive quarters of contraction. Although exports continued to decline in the first quarter, faster growth in …

Hong Kong’s GDP rebounds 2.7% in first quarter as outlook brightens Read More »

By Tatiana Bautzer and Saeed Azhar NEW YORK (Reuters) -Few investors and bankers could have imagined regulators would allow the largest U.S. lender to buy another bank and become even bigger. Then, Jamie Dimon beat the odds, clinching a deal to buy First Republic Bank on Monday. Now, the JPMorgan Chase & Co CEO expects …

JPMorgan’s takeover of First Republic fuels M&A expectations Read More »

By Yuka Obayashi and Katya Golubkova TOKYO (Reuters) -Japan’s trading houses Mitsui & Co Ltd and Sojitz forecast lower net profit in the current fiscal year as commodity prices are retreating from last year’s peaks when the both enjoyed record-high earnings. While the post-pandemic energy crisis fuelled by Russia’s invasion of Ukraine allowed the world’s …

Japan’s Mitsui and Sojitz warn of lower profits after record FY22/23 results Read More »

By Leika Kihara and Jihoon Lee INCHEON, South Korea (Reuters) -Japan and South Korea held their first finance leaders’ meeting in seven years on Tuesday and agreed to resume regular dialogue as tensions in the wider region and slowing growth prod them to increase co-operation and mend strained relations. The resumption of bilateral financial discussions …

Japan, South Korea revive stalled economic talks as global risks grow Read More »

SEOUL (Reuters) – Most of the South Korean central bank’s board members cited concerns about the U.S. banking sector’s health as a major factor to keep interest rates steady at their April 11 meeting, minutes showed on Tuesday. While the collapse of U.S. lender Silicon Valley Bank had only limited direct impact on local markets, …

U.S. banking woes a major factor behind Bank of Korea rate freeze Read More »

By Daniel Leussink TOKYO (Reuters) – Japan’s automakers are facing a sales crisis in China, data shows, as a rapid shift to electric vehicles (EVs) has upended the world’s largest auto market and led to a plunge in purchases of gasoline-powered cars. Total sales of Japanese auto brands in China were down 32% year-on-year in …

Analysis-Japan’s automakers have a made-in-China sales crisis Read More »

TOKYO (Reuters) -Japan Airlines Co on Tuesday forecast a 60% rise in net profit for the current business year as travel demand recovers further from the COVID-19 pandemic, and after swinging back to the black for the first time in three years. For the business year to March 2024, JAL expects a group net profit …

JAL expects 60% profit rise in further post-pandemic recovery Read More »