Reuters Asia Business

(Reuters) -Starbucks Corp missed Wall Street expectations for quarterly comparable sales on Thursday, as persistent weakness in the coffee chain’s China business offset strong sales in the North American market. Shares of the Seattle, Washington-based company slid about 3% to $106.34 in extended trading. While China has largely abandoned its zero-COVID policy and began reopening …

Starbucks misses quarterly sales estimates as China weakness weighs Read More »

WASHINGTON (Reuters) – TikTok, owned by China’s ByteDance, should be removed from app stores run by Apple Inc and Alphabet’s Google because the short video social media app poses a risk to national security, Senator Michael Bennet, a Democrat on the intelligence committee, said in a letter dated Thursday. The app, which Congress has already …

Democratic senator urges Apple, Google to kick TikTok out of app stores Read More »

By Roushni Nair and Sameer Manekar (Reuters) – Singapore’s Keppel Corp posted a steeper-than-expected drop in annual profit on Thursday hurt by its urban development unit, but forecast China’s easing market conditions and policy support to the real estate sector would boost market sentiment. The conglomerate, which traces its roots to a small ship repair …

Keppel profit slumps on China lockdown, real estate woes; sees green shoots Read More »

ISLAMABAD (Reuters) -Pakistan’s foreign exchange reserves held by the central bank decreased by 16.1% to $3.09 billion in the week ending Jan. 27, the State Bank of Pakistan (SBP) said on Thursday, which analysts said covers less than three weeks of imports. The country is locked in negotiations with the International Monetary Fund (IMF) to …

Pakistan’s forex reserves with central bank drop to $3.09 billion Read More »

(Reuters) -The International Monetary Fund (IMF) said on Thursday that Bangladesh’s near-term growth was projected to slow to 5.5% in FY2023 and 6.5% in FY2024, compared with projections before the start of the Ukraine war at above 7%. Earlier this week, the IMF approved loans of $4.7 billion to Bangladesh making it the first to …

Bangladesh’s near-term growth projected to slow to 5.5% for FY2023 – IMF Read More »

PARIS (Reuters) – France’s Renault and its Japanese partner Nissan will formally unveil the agreement to reshape their alliance on Feb. 6 in London, the two car makers said in a joint statement on Thursday. The announcement, with junior alliance partner Mitsubishi Motors, confirmed a Jan. 26 Reuters exclusive about the deal, which will retool …

Renault, Nissan to present redesign of their alliance on Feb. 6 in London Read More »

HONG KONG (Reuters) – Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 1.55 million Hong Kong-listed shares of electric vehicle maker BYD for HK$351.81 million ($44.85 million), a stock exchange filing showed. The sale lowered Berkshire’s holdings in BYD’s issued H-shares to 12.9% on Jan. 27, down from 13.04%, the filing to …

Berkshire Hathaway sells $44.9 million of shares in China’s BYD Read More »