Reuters Asia Business

By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s decision to raise interest rates shows the crisis-hit country’s commitment to reducing inflation quickly towards single-digit levels, the International Monetary Fund (IMF) said on Saturday. In a surprise move, the South Asia nation’s central bank raised rates by 100 basis points on Friday to battle inflation, which …

Sri Lanka’s rate hike shows commitment to rapid disinflation – IMF Read More »

(Reuters) – The Treasury Department is preparing a new program that could prohibit U.S. investment in certain sectors of adversarial nations, the Wall Street Journal reported on Friday citing copies of reports provided to lawmakers on Capitol Hill viewed by the newspaper. The Biden administration’s work on the new rules would in practice largely deal …

US prepares new rules on investment in technology abroad- WSJ Read More »

TAIPEI (Reuters) – Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world’s largest contract chipmaker, will recruit more than 6,000 new staff in 2023, the company said in a statement on Saturday. The hiring drive comes despite a global downturn in the chip industry. According to TSMC, the company will seek young engineers with associates, bachelor’s, …

Taiwan’s TSMC to recruit 6,000 engineers in 2023 Read More »

By Luc Cohen NEW YORK (Reuters) – U.S. prosecutors on Friday urged a judge to sentence former Goldman Sachs banker Roger Ng to 15 years in prison after he was convicted of helping loot billions of dollars from Malaysia’s 1MDB sovereign wealth fund. A jury in Brooklyn federal court had last April found Ng, Goldman’s …

Ex-Goldman banker Ng deserves 15 years in prison, US prosecutors say Read More »

By Asif Shahzad ISLAMABAD (Reuters) -Industrial and Commercial Bank of China Ltd on Friday approved a rollover of a $1.3 billion loan for cash-strapped Pakistan, which will help shore up its depleting foreign exchange reserves, Finance Minister Ishaq Dar said. The facility will be disbursed in three instalments. The first one of $500 million has …

China approves $1.3 billion loan rollover for Pakistan -finance minister Read More »

TOKYO (Reuters) – Japan’s economy likely grew a tad faster than initially estimated in the fourth quarter, a Reuters poll showed, though the recovery remains fragile as weak capital expenditure weighs on hopes for a sustained revival in demand. Revised gross domestic product data out on March 9 will probably show the world’s No. 3 …

Japan Q4 GDP likely revised up but weakness persists Read More »

By Kevin Yao BEIJING (Reuters) -China’s central bank will adjust monetary policy in a timely and appropriate manner, and cutting banks’ reserve requirements to release long-term liquidity will still be an effective tool to support the economy, top bank officials said on Friday. Policymakers are looking to support a nascent recovery in the world’s second-largest …

China’s central bank says will adjust policy in a timely way as economy recovers Read More »