Reuters Asia Business

By Yukiko Toyoda TOKYO (Reuters) -Japan will keep calling for China to act responsibly on the world stage, Prime Minister Fumio Kishida said on Thursday, emphasising the need for peace and stability in the Taiwan Strait. China conducted military drills in the waters off Taiwan earlier this month, and Kishida’s comments came days after foreign …

Japan will keep calling for China to act responsibly, Kishida says Read More »

LONDON (Reuters) – Sumitomo Metal Mining on Thursday said it supports Teck Resources’ plan to create two separate companies, as the Vancouver-based miner fends off an unsolicited takeover bid from mining giant Glencore. Sumitomo is a shareholder in Teck, which operates under a dual-class structure and needs approval from two-thirds of shareholders on both sides …

Teck Resources separation plan backed by shareholder Sumitomo Metal Read More »

By Xie Yu HONG KONG (Reuters) – Hedge fund BFAM Partners and a few other investors have filed a lawsuit in New York against Chinese property developer Glory Health, seeking $201 million in debt repayment, according to a court filing seen by Reuters. Hong Kong-based BFAM and some other investors outside of China were collectively …

Hedge fund BFAM, others file lawsuit against Chinese developer for debt repayment Read More »

BEIJING (Reuters) -A recovery in Chinese consumer demand needs time to pick up due to the “scarring effect” of COVID-19, but there is no basis for any long-term deflation, an official from the People’s Bank of China (PBOC) said on Thursday. While the world’s second-largest economy reported better-than-expected gross domestic product growth in the first …

China’s central bank official says no basis for long-term deflation Read More »

By Heekyong Yang SEOUL (Reuters) -The South Korean government and its top battery companies plan to jointly invest 20 trillion won ($15.1 billion) through 2030 to develop advanced battery technologies, including solid-state batteries, the industry ministry said on Thursday. “The joint investment will allow South Korea to start commercial production of solid state batteries ahead …

South Korea announces $15 billion investment in advanced battery technologies Read More »

By Ankur Banerjee SINGAPORE (Reuters) -Corporate governance in Japan has suddenly become a cause celebre, rousing the world’s third-largest stock market out of decades of lethargy and drawing in hordes of foreign investors. Japan’s stock market has long been seen by investors as a ‘value trap’ where companies focus on market share, hoard cash and …

Analysis-Investors seek to break through Japan Inc’s ‘value trap’ Read More »

By Asif Shahzad ISLAMABAD (Reuters) – Pakistan has placed its first order for discounted Russian crude oil under a new deal struck between Islamabad and Moscow, the country’s petroleum minister said, with one cargo to dock at Karachi port in May. Pakistan’s purchase gives Russia a new outlet for its crude, adding to Moscow’s growing …

Exclusive-Pakistan buys its first cargo of discounted Russian crude oil Read More »

By Karen Freifeld Reuters) – Seagate Technology Holdings has agreed to pay a $300 million penalty in a settlement with U.S. authorities for shipping over $1.1 billion worth of hard disk drives to China’s Huawei in violation of U.S. export control laws, the U.S. Department of Commerce said on Wednesday. Seagate sold the drives to …

Seagate to pay $300 million penalty for shipping Huawei 7 million hard drives Read More »

By James Pearson BELFAST (Reuters) – China is aiming for “global technological supremacy” in cyberspace and is using its cyber capabilities to conduct intelligence and surveillance campaigns, Britain’s cyber chief said on Wednesday. Lindy Cameron, director of the National Cyber Security Centre (NCSC), part of Britain’s GCHQ eavesdropping spy agency, said Britain had a “legitimate …

China aiming for ‘global technological supremacy’, British cyber chief says Read More »