Reuters Asia Business

BEIJING (Reuters) – Chinese organisations, from state media to a Shaolin temple, said on Tuesday they have signed partnerships with Baidu’s ChatGPT-style project, ahead of an expected launch next month.    The Chinese search engine giant last week announced that it would complete internal testing of its “Ernie Bot” in March. It is a large artificial …

From state media to a Shaolin temple, Baidu’s ChatGPT-style bot sees partner rush Read More »

(Reuters) -Idemitsu Kosan Co, Japan’s second-biggest oil refiner, revised its full fiscal year net profit forecast down by 32% to 220 billion yen ($1.7 billion) on Tuesday, expecting lower oil prices and a stronger yen to hit earnings. The revision follows a similar step by Japan’s top refiner Eneos Holdings Inc, which last week slashed …

Japan’s Idemitsu Kosan cuts full-year forecast on lower oil prices Read More »

By Anshuman Daga and Yantoultra Ngui SINGAPORE (Reuters) -Singapore sovereign wealth fund GIC said it continues to scout for long-term investment opportunities in China, looking at a wide range of industries, adding that it maintains significant exposure to large markets such as China. The statement comes after the Financial Times reported earlier in the day …

Singapore’s GIC says still exploring China investment opportunities Read More »

By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) -Japan’s government named academic Kazuo Ueda as its pick to become next central bank governor, a surprise choice that could heighten the chance of an end to its unpopular yield control policy. Ueda, a 71-year-old former Bank of Japan (BOJ) policy board member, will succeed incumbent Haruhiko …

Japan names academic Ueda as next central bank governor Read More »

By Summer Zhen HONG KONG (Reuters) – After seeing record outflows in 2022, Asia-focused hedge funds posted a 5.3% gain in a January rally to mark their best monthly performance in years, bolstered mainly by a rebound in Chinese share prices, Goldman Sachs said in a note. The funds’ performance in January, the strongest in …

Asia hedge funds post strongest month in January since 2016 – Goldman Read More »

By Francesco Guarascio HANOI (Reuters) – Concerned Vietnam-based exporters are seeking to ensure they comply with a U.S. ban on imported products using raw materials from China’s Xinjiang as lucrative trade in goods like garments and solar panels comes under closer scrutiny in Washington. As U.S. Trade Representative Katherine Tai visits Vietnam this week, executives …

Vietnam exporters fret over potential trade fallout of U.S. rules on Xinjiang Read More »

SINGAPORE (Reuters) – Singapore Finance Minister Lawrence Wong said on Tuesday the government expects 2022’s budget deficit to be S$2 billion ($1.51 billion), or 0.3% of gross domestic product, down from a previous estimate of S$3 billion. Wong, who was presenting the 2023 budget to parliament, said the city-state must brace for a period of …

Singapore finance minister sees lower 2022 budget deficit at S$2 billion Read More »

By Makiko Yamazaki TOKYO (Reuters) -Japan’s Toshiba Corp slashed its annual earnings estimate after third-quarter profit slumped, while its chief operating officer resigned over the inappropriate use of entertainment expenses some years ago. Hit by weak demand for hard disk drives due to reduced investments in data, Toshiba said quarterly operating profit tumbled 88% to …

Toshiba warns on profit after Q3 slump; COO resigns over expenses Read More »

By Hyunsu Yim SEOUL (Reuters) – BTS agency HYBE saw shares rally 6.6% on Tuesday as the market bet it would emerge as the winner from a major restructuring of South Korea’s K-pop industry, boosting its earnings and giving it even greater market dominance. HYBE announced plans on Friday to acquire up to a 39.8% …

BTS agency HYBE shares rally as market backs its K-pop deal Read More »