Reuters Asia Business

Indonesia to tighten palm oil exports from Jan. 1 to shore up supply ahead of Ramadan

30 Dec 2022

By Bernadette Christina JAKARTA (Reuters) – Indonesia will tighten export rules for palm oil from Jan. 1 by allowing less shipments overseas for every tonne sold domestically, to ensure sufficient and affordable cooking oil supply at home, officials said on Friday. Exporters will be allowed to ship six times their domestic sales volume, less than …

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Oil drops on China uncertainty; U.S. demand limits decline

29 Dec 2022

By Shariq Khan NEW YORK (Reuters) -Oil prices fell for a second straight session on Thursday on an uncertain demand outlook as more countries considered restrictions on Chinese travelers with COVID-19 infections spreading in the top oil-importing nation. China’s government is dismantling pandemic restrictions, yet a surge in infections there is prompting tougher travel rules …

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Dollar slides as traders weigh China outlook, U.S. jobless claims

29 Dec 2022

By Hannah Lang WASHINGTON (Reuters) – The dollar slipped on Thursday with investors on edge at the end of the year as initial optimism over China’s reopening fizzled out and as markets processed a readout of U.S. jobless claims. Markets are weighing the impact of China’s rapid loosening of its strict COVID-19 rules with a …

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Honda to recall 200,000 hybrid vehicles made in China -regulator

29 Dec 2022

By Casey Hall SHANGHAI (Reuters) – Honda will recall just over 200,000 hybrid vehicles due to issues with brake pedal sensors in some models, China’s State Administration for Market Regulation said in a statement on Thursday. A total of 105,608 hybrid vehicles produced between Oct. 8, 2018 and Sept. 7, 2020 by the Japanese carmaker’s …

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Explainer-How will Japan resolve shipping insurance for Russian LNG imports?

29 Dec 2022

By Yuka Obayashi TOKYO (Reuters) – Japan, the world’s top liquefied natural gas (LNG) importer, is facing its latest challenge in securing vital gas supplies from Russia after Western reinsurers said they would halt marine war insurance for ships travelling in Russian waters from Jan. 1. Having joined other G7 countries in imposing sweeping sanctions …

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China says it will boost fiscal spending in 2023 appropriately

29 Dec 2022

BEIJING (Reuters) -China will boost fiscal spending “appropriately” in 2023 to support the slowing economy, focusing on tech innovation and key strategic sectors, the finance ministry said on Thursday. Chinese leaders have pledged to step up policy adjustments to cushion the impact on businesses and consumers of a surge in COVID-19 infections at a time …

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China’s Sinopec buys 49% of Thai oil retailer Susco Dealer

29 Dec 2022

SINGAPORE (Reuters) – Chinese state refiner Sinopec Corp said on Thursday its Hongkong subsidiary has acquired a 49% stake in Thailand’s Susco Dealers Company Limited to expand fuel retail business there. The investment by Sinopec Hongkong Co Ltd combines the Chinese refiner’s fuel supply base and its brand with the Thai company’s retail network, Sinopec …

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Former PBOC official says China’s digital yuan is little used – Caixin

29 Dec 2022

SHANGHAI (Reuters) – China’s central-bank digital currency is little used, a former official of the People’s Bank of China (PBOC) said on Wednesday, financial news outlet Caixin reported. Expressing disappointment with the result of a trial in select provinces and cities, the former official, Xie Ping, told a conference that application of the so-called digital …

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