Reuters Asia Business

By Praveen Paramasivam and Aditi Shah GREATER NOIDA, India (Reuters) – BYD will launch its third passenger electric vehicle in India by the fourth quarter of this year, the Warren Buffett-backed Chinese electric carmaker said during an auto show on the outskirts of New Delhi on Wednesday. The all-wheel drive luxury sedan, BYD Seal, will …

China’s BYD to launch luxury electric sedan in India this year Read More »

By Pratima Desai LONDON (Reuters) – Britain’s financial watchdog is blocking the restart of London Metal Exchange nickel trade in Asian hours due to doubts about the LME’s ability to run an orderly market in that time zone, three sources with knowledge of the matter said. The world’s largest metals trading exchange was forced to …

Exclusive-UK watchdog blocks LME plan to restart Asian hours nickel trade-sources Read More »

SINGAPORE (Reuters) – China’s CNOOC Ltd has set its 2023 production target at a record 650 million to 660 million barrels of oil equivalent (boe), about 8% above last year’s goal. The state-controlled offshore oil and gas company produced about 620 million boe last year, exceeding its goal of 600-610 million boe, CNOOC said on …

China’s CNOOC targets record oil, gas output for 2023, 8% above 2022 Read More »

By Sonali Paul and Harshita Swaminathan MELBOURNE (Reuters) -The developer of a $21-billion project aiming to deliver solar power to Singapore from Australia has collapsed as its two main backers, Australian billionaires Mike Cannon-Brookes and Andrew Forrest, failed to agree on a new round of funding. Singapore-based Sun Cable said it had appointed voluntary administrators …

Billionaires’ squabble stalls Australia-to-Asia solar power project Read More »

SHANGHAI (Reuters) – China Southern Airlines has scheduled two Boeing 737 MAX flights for Friday, its mobile app showed, which if completed would be the first commercial services for the model by a Chinese airline since a March 2019 grounding. The scheduled flights are domestic journeys from the southern city of Guangzhou to Zhengzhou and …

China Southern flags 737 MAX flights in possible return of model Read More »

By Muyu Xu and Melanie Burton SINGAPORE/MELBOURNE (Reuters) – Chinese interest in Australian coal has been limited by the upcoming Lunar New Year holiday and high domestic inventories, meaning few deals have been completed since China lifted an unofficial ban on imports last week. Thawing diplomatic relations between Australia and its biggest trading partner led …

Upcoming Chinese holiday, high coal stocks keeping lid on Australian trade Read More »

By Rocky Swift TOKYO (Reuters) – Uniqlo parent Fast Retailing Co Ltd on Wednesday said it would raise wages by as much as 40%, a clear sign that Japan’s rock-bottom salaries may be starting to budge after decades of deflation and cost-cutting. The move by the casual clothing giant is likely to heighten focus on …

Uniqlo owner gives Japan Inc a jolt with 40% wage hike Read More »

By Kantaro Komiya TOKYO (Reuters) – The Bank of Japan’s (BOJ) 2% inflation target can be modified into a “range” to sustain monetary policy flexibility amid possibly higher inflation compared to pre-COVID times, former board member Sayuri Shirai said on Wednesday. Shirai, widely seen as a candidate to become deputy governor at the central bank …

BOJ’s 2% inflation target can be tweaked to ‘range’, deputy governor candidate says Read More »

JAKARTA (Reuters) – Indonesia is reviewing a government regulation on export earnings, including potentially setting rules on how long earnings must be kept in local banks, its chief economic minister Airlangga Hartarto said on Wednesday. The country has required exporters of natural resources to keep earnings in a special account at domestic banks since 2019. …

Indonesia considers new rules on keeping export earnings in local banks Read More »