Reuters Asia Business

BANGKOK (Reuters) – Thailand’s decision to hike electricity prices by 20% in early 2023 will push up inflation and undermine the country’s competitiveness as the economy recovers gradually from the pandemic, a leading joint business group said on Friday. Southeast Asia’s second-largest economy’s recovery has lagged that of others in the region as the crucial …

Thai power price hike to hurt business, competitiveness – business group Read More »

SEOUL (Reuters) – South Korea’s LG Display Co Ltd said on Friday it plans to halt the production of its liquid-crystal display (LCD) TV panels in South Korea due to intensifying competition. The Apple Inc supplier expects the decision to halt production of LCD TV panels would not have impact on its normal business activities, …

LG Display to halt production of liquid crystal display TV panels in South Korea Read More »

SEOUL (Reuters) – South Korea’s central bank said on Friday its interest rate policy next year would continue to target containing inflation, which it said is expected to slow though a huge amount of uncertainty lies ahead. “The Bank of Korea will continue to conduct its monetary policy with a focus on price stability so …

Bank of Korea says curbing inflation remains main rate policy target in 2023 Read More »

By David Shepardson WASHINGTON (Reuters) -ByteDance, the Chinese parent company of popular video app TikTok, said on Thursday that some employees this summer improperly accessed TikTok user data of two U.S. journalists and were no longer employed by the company, an email seen by Reuters shows. ByteDance employees accessed the data as part of an …

ByteDance finds employees obtained TikTok user data of two U.S. journalists Read More »

(Reuters) -Global ratings agency S&P Global on Thursday cut Pakistan’s long-term sovereign credit rating by one notch to “CCC+” from “B” to reflect a continued weakening of the country’s external, fiscal and economic metrics. Pakistan’s already low foreign exchange reserves will remain under pressure through 2023 unless oil prices slump or foreign assistance improves, the …

S&P Global lowers Pakistan’s long-term sovereign credit rating Read More »

By Makiko Yamazaki and Ritsuko Shimizu TOKYO (Reuters) – Mitsubishi UFJ Financial Group Inc, Japan’s biggest banking group, is keen to expand in Asia and is ready to embark on more acquisitions if need be, its chief executive told Reuters. “The first phase of our investment strategy was building footholds for commercial banking in Asia, …

Japan’s Mitsubishi UFJ says ready to do more deals to expand in Asia Read More »