Reuters Asia Business

SHANGHAI (Reuters) – Tesla plans to produce a six-seat variant of its Model Y car in China from late 2025, two people with direct knowledge of the matter said, as the U.S. automaker strives to increase the appeal of its best-selling yet aging electric vehicle (EV). Tesla has asked suppliers to prepare accordingly for a …

Exclusive-Tesla plans six-seat Model Y, production slated for 2025 in China, sources say Read More »

By Joanna Plucinska and Tim Hepher (Reuters) -Hong Kong’s Cathay Pacific Airways said on Monday it had started inspecting all its Airbus A350 jets after the in-flight failure of an engine component, sending shares in British engine supplier Rolls-Royce down sharply. The carrier said it had cancelled 24 return flights operating until the end of Tuesday, …

Cathay Pacific inspects Airbus A350 fleet after engine part failure Read More »

By Kate Abnett EINDHOVEN, The Netherlands (Reuters) -The European Commission is working on tighter rules to ensure EU funding for hydrogen projects benefits European companies, after local industries raised concerns over cheap Chinese imports, the EU’s head of climate change policy said on Monday. The EU will this month launch its next round of funding …

EU to tighten hydrogen subsidy rules after China concerns Read More »

BEIJING (Reuters) -Sales of U.S. automaker Tesla’s China-made electric vehicles grew 3% in August from a year earlier, data from the China Passenger Car Association (CPCA) showed on Monday. Deliveries of its China-made Model 3 and Model Y vehicles rose 17% from July. Chinese rival BYD, with its Dynasty and Ocean series of EVs and …

Tesla’s China-made EV sales in August up 3% yr/yr Read More »

(Reuters) – TikTok-owner ByteDance is tapping banks for a $9.5 billion loan that would be the biggest dollar-denominated corporate facility in Asia ex-Japan, two sources with knowledge of the matter said on Monday. Citigroup, Goldman Sachs and JPMorgan are the coordinators of the financing, which carries a tenor of three years and can be extended …

ByteDance taps banks for $9.5 billion Asia dollar corporate loan, sources say Read More »

Karachi (Reuters) – Pakistan’s annual consumer price inflation rate slowed to 9.6% in August, the first single-digit reading in almost three years, the statistics agency said on Monday. Pakistan struck a deal last month with the International Monetary Fund for a $7 billion loan programme that includes tough measures such as higher taxes on farm …

Pakistan annual inflation slows to 9.6%, first single-digit stat in nearly 3 years Read More »

By Florence Tan SINGAPORE (Reuters) – Top oil exporter Saudi Arabia is expected to cut prices for most of the crude grades it sells to Asia in October after Middle East benchmark Dubai slumped last month, industry sources said on Monday. The October official selling price (OSP) for flagship Arab Light crude is expected to …

Saudi Arabia may cut crude oil prices for Asia in October Read More »

By Clare Jim HONG KONG (Reuters) – Shares in major Hong Kong property developer New World Development plunged 13% after it estimated a net loss of as much as HK$20 billion ($2.6 billion) for the financial year that ended in June. The shares closed at HK$6.83 on Monday, another 21-year low. The company said in …

Shares in Hong Kong’s New World Development plunge after loss estimate Read More »

(Reuters) -China has warned of severe economic retaliation against Japan if it further restricts sales and servicing of chipmaking equipment to Chinese firms, Bloomberg News reported on Monday, citing people familiar with the matter.  Toyota Motor privately told Japanese officials that Beijing could react to the curbs by cutting Japan’s access to minerals required for …

China warns Japan of retaliation over potential new chip curbs, Bloomberg reports Read More »