Reuters Asia Business

By Makiko Yamazaki TOKYO (Reuters) -Japan’s second-largest bank, Sumitomo Mitsui Financial Group Inc, reported on Monday a jump of 42.6% in third-quarter net profit, as a continuing recovery in economic activities from the coronavirus pandemic boosted the core lending business. As the government steadily normalises social and economic activity, the lender saw brisk loan demand …

SMFG’s Q3 profit jumps on loan demand as business activities recover Read More »

PARIS/TOKYO (Reuters) – French carmaker Renault and its Japanese partner Nissan on Monday agreed to a sweeping reset of their two-decade alliance that will put them on equal footing. The partnership, which has grown to include junior member Mitsubishi Motors, was founded in 1999 and long dominated by former Renault and Nissan top executive Carlos …

From boom to bottom and now big change: Renault and Nissan reshape alliance Read More »

By Valerie Insinna and Tim Hepher SEATTLE/PARIS (Reuters) – Boeing’s 747, the original and arguably most aesthetic “Jumbo Jet”, revolutionized air travel only to see its more than five-decade reign as “Queen of the Skies” ended by more efficient twinjet planes. The last commercial Boeing jumbo will be delivered to Atlas Air in the surviving …

Boeing’s 747, the original jumbo jet, prepares for final send-off Read More »

NEW DELHI (Reuters) -Gautam Adani faces a critical day on Monday with his flagship company’s $2.5 billion share sale’s second day of bidding overshadowed by a $48 billion rout in the Indian billionaire’s stocks which was sparked by a U.S. short seller’s report. Seven listed companies belonging to the Adani conglomerate, which is led by …

Adani’s $2.5 billion share sale faces crucial day after Indian rout Read More »

BEIJING (Reuters) – Chinese battery giant CATL plans to build a new project to recover waste batteries and make lithium materials, with investment of up to 23.8 billion yuan ($3.5 billion), the company said on Sunday. Guangdong Bangpu Recycling Technology Co Ltd – a unit of CATL – will invest and build the facilities in …

China’s battery maker CATL plans $3.5 billion new project Read More »

BEIJING (Reuters) – China’s central bank said on Sunday it will roll over three lending tools to increase support for targeted sectors of the economy. The People’s Bank of China will roll over a lending tool for supporting carbon emission reduction to the end of 2024, and extend a relending tool for promoting the clean …

China central bank to roll over lending tools to spur growth Read More »

(Reuters) – Pakistan’s ministry of finance announced on Sunday petrol and diesel prices would rise by 35 rupees ($0.1400) a litre after the country’s currency value plummeted this week when price caps were removed. The decision came days before an International Monetary Fund mission will visit Pakistan later this month to discuss the stalled ninth …

Pakistan govt lifts petrol, diesel prices by 35 rupees a litre Read More »

MANILA (Reuters) – Philippines President Ferdinand Marcos has approved a value-added tax refund programme for foreign tourists by 2024 to attract more visitors, the Presidential Communications Office (PCO) said on Sunday. The government collects a 12% VAT on goods consumed within the Southeast Asian country. The plan is to allow foreigners to get a VAT …

Philippines to offer value-added tax refund to foreign tourists by 2024 Read More »

BEIJING (Reuters) – China’s cabinet said on Saturday it would promote a consumption recovery as the major driver of the economy and boost imports, state broadcaster CCTV reported, at a time of cooling global demand as major economies teeter on the brink of recession. At a meeting chaired by Premier Li Keqiang, China’s state council …

China aims to boost consumption and imports as global demand cools Read More »