Reuters Asia Business

BEIJING (Reuters) -China’s factory activity shrank for the third straight month in December and at the sharpest pace in nearly three years as COVID infections swept through production lines across the country after Beijing’s abrupt reversal of anti-virus measures. The official purchasing managers’ index (PMI) fell to 47.0 from 48.0 in November, the National Bureau …

China Dec manufacturing contracts sharply as COVID infections soar Read More »

By Dan Burns (Reuters) -For much of the global economy, 2023 is going to be a tough year as the main engines of global growth – the United States, Europe and China – all experience weakening activity, the head of the International Monetary Fund said on Sunday. The new year is going to be “tougher …

Global economy faces tougher year in 2023, IMF’s Georgieva warns Read More »

(Reuters) -A data breach at Toyota Motor’s Indian business might have exposed some customers’ personal information, it said on Sunday. Toyota India said it has notified the relevant Indian authorities of the data breach at Toyota Kirloskar Motor, a joint venture with Indian conglomerate Kirloskar Group. “Toyota Kirloskar Motor (TKM) has been notified by one …

Toyota’s Indian unit warns of a possible customer data breach Read More »

SHANGHAI (Reuters) – Leading Chinese electric car manufacturer BYD Co has adjusted its product prices starting from Jan. 1, citing the impact of reduced subsidies for new energy vehicles since November last year. Official guidance prices will rise by between 2,000 yuan ($290) and 6,000 yuan for its various models, the company said on its …

China’s BYD raises car prices after subsidy cuts Read More »

SEOUL (Reuters) – The head of South Korea’s central bank said on Sunday it would likely face an increasing conflict between policy goals in 2023 as the effect of the recent aggressive policy tightening materialises in earnest. “It will be a year when a sophisticated policy mix is more important than ever due to a …

Bank of Korea chief sees more conflict between goals Read More »

By Choonsik Yoo SEOUL (Reuters) -South Korea’s exports in December fell from a year earlier for the third consecutive month, data showed on Sunday, with the outlook clouded by a Chinese economy fighting a surge in COVID-19 cases at a time of slowing global growth. South Korea is the first major exporting economy to release …

South Korea’s president vows ‘export first’ policy as Dec exports fall Read More »

BEIJING(Reuters) – China’s home prices fell at a faster pace in December, according to a private survey on Sunday, reflecting persistently weak demand amid rising COVID-19 cases despite a slew of support measures. China’s property market crisis worsened this summer, with official data showing home prices, sales and investment all falling in recent months, adding …

China home prices fall at faster pace in December – private survey Read More »

TAIPEI (Reuters) – Taiwan will plough an extra T$380 billion ($12.43 billion) in tax revenue back into the economy in 2023 to help protect the island from global economic shocks, including subsidies for electricity prices, President Tsai Ing-wen said on Saturday. While the export-dependent economy grew 6.45% in 2021, the fastest rate since it expanded …

Taiwan to plough $12 billion in excess tax revenue back into economy in 2023 Read More »