Reuters Asia Business

By Neil Jerome Morales MANILA (Reuters) – The Philippines on Monday maintained its economic growth targets over the next five years, citing momentum from increased domestic demand and better labour conditions that would allow its economy to withstand external challenges. Gross domestic product (GDP) is targeted to grow by 6.0% to 7.0% this year, slower …

Philippines sticks to its 5-year GDP growth targets on economic momentum Read More »

SEOUL (Reuters) -The head of South Korea’s central bank said on Monday some short-term interest rates had fallen more than he had expected, adding it was probably due to a shift in funds en masse in search of quick profit. Bank of Korea Governor Rhee Chang-yong also told reporters the central bank’s monetary policy tightening …

Bank of Korea’s Rhee says some short-term rates have fallen more than expected Read More »

(Reuters) – The United States asked South Korea to urge its chipmakers not to fill any market gap in China if Beijing bans memory chipmaker Micron from selling chips, the Financial Times reported on Sunday. The United States made the request as South Korean President Yoon Suk Yeol prepares to travel to Washington on Monday, …

US urges South Korea not to fill China shortfalls if Beijing bans Micron chips – FT Read More »

LONDON (Reuters) – HSBC investors should vote against a resolution by its biggest shareholder Ping An, calling on the bank to consider strategic options including a spinoff of its Asia business, shareholder advisory group ISS said. The proposal by Ping An, over which the bank and the Chinese insurer have been arguing since last November, …

HSBC shareholders should vote against Asia spinoff plan, advisor ISS says Read More »

(Reuters) – British chipmaker Arm Ltd is building its own semiconductor to showcase the capabilities of its products, as it seeks to attract new customers and fuel growth following its Initial Public Offering (IPO) later this year, the Financial Times reported on Sunday. Arm will team up with manufacturing partners to develop the new semiconductor, …

Chipmaker Arm to make its own semiconductor – FT Read More »

By Blake Brittain (Reuters) – Computer-memory company Netlist Inc convinced a federal jury in Texas on Friday to award it more than $303 million for Samsung Electronics Co’s infringement of several patents related to improvements in data processing. The jury in Marshall, Texas determined after a six-day trial that Samsung’s “memory modules” for high-performance computing …

Samsung hit with $303 million jury verdict in computer-memory patent lawsuit Read More »

By Ankit Kumar (Reuters) -Freeport-McMoRan Inc’s first-quarter profit more than halved as the copper miner struggled with an industry-wide talent crunch and warned that tight labor market conditions would persist in the U.S. through the year. Its shares fell 5.6% to $39 on Friday after the company also cautioned that protests in Peru remain an …

Freeport-McMoRan signals more pain from labor shortages as profit slumps Read More »