Reuters Asia Business

By Jeffrey Dastin, Anna Tong and Krystal Hu PALO ALTO, California (Reuters) – Technology executives, prominent venture capitalists and founders including OpenAI CEO Sam Altman raced this weekend to keep alive companies caught up in the collapse of Silicon Valley Bank. Friday’s dramatic failure of the bank, which focuses on tech startups, was the biggest …

Tech execs race to save startups from ‘extinction’ after SVB collapse Read More »

SEOUL (Reuters) – South Korea’s finance minister said on Sunday the country was closely monitoring any impact from the collapse of Silicon Valley Bank on South Korean markets. Top financial officials met on Sunday to discuss the collapse, the biggest bank failure since the 2008 financial crisis, the finance ministry said in a statement. The …

S.Korea finance minister: monitoring impacts from Silicon Valley Bank crisis Read More »

By Hyunsu Yim and Ju-min Park SEOUL (Reuters) -HYBE Co Ltd, the agency representing top-selling South Korean boy band BTS, dropped its plan to take control of K-pop pioneer SM Entertainment Co Ltd, the company said on Sunday. HYBE’s withdrawal put an end to a weeks-long takeover battle with social media giant Kakao Corp, and …

K-pop giant HYBE drops bid for SM Entertainment, ending takeover battle Read More »

By Anshuman Daga and Yantoultra Ngui SINGAPORE (Reuters) – Asia-focussed telecoms tower firm Edotco Group, its Malaysian parent Axiata and a Japanese backer are in talks with investors for stake sales, in a deal that could raise about $1.2 billion, four sources familiar with the matter said. The move comes as global infrastructure funds are …

Exclusive-Malaysia’s Edotco, backers plan stake sales in hot telco towers market -sources Read More »

BEIJING (Reuters) – China’s rubber-stamp parliament, the National People’s Congress, on Sunday unexpectedly reappointed Yi Gang, 65, as governor of the People’s Bank of China and Liu Kun, 66, as finance minister, despite both men having reached retirement age. The moves preserve continuity in key economic policymaking roles after Li Qiang, 63, was on Saturday …

China reappoints central bank chief, finance minister Read More »

SHANGHAI (Reuters) – The Chinese joint venture of failed U.S. lender SVB Financial Group said on Saturday it has a sound corporate structure and an independently operated balance sheet. SPD Silicon Valley Bank (SSVB), SVB’s venture with Shanghai Pudong Development Bank, said in a statement it “always operates in a regulated and sound manner in …

China venture of collapsed U.S. lender SVB says its corporate structure is sound Read More »

By Francesco Guarascio and Toby Sterling HANOI/AMSTERDAM (Reuters) -Suppliers to Dutch chip-making machines giant ASML Holding NV are considering building plants in Southeast Asia instead of China amid political tensions between Beijing and the West, according to two sources and documents seen by Reuters. Officials from a dozen tech companies are set to visit Vietnam, …

Exclusive-Chip equipment maker ASML’s suppliers eye Asia plants outside China amid tensions Read More »

(Reuters) – The Biden administration is working to further tighten restrictions on exporting semiconductor manufacturing gear to China, Bloomberg News reported on Friday citing people familiar with the situation. The government has briefed U.S. companies about the plan and told them it expects to announce the restrictions as early as next month, the report said. …

US set to further tighten chipmaking exports to China – Bloomberg News Read More »