Reuters Asia Business

JAKARTA (Reuters) – Indonesia may allocate 5 trillion rupiah ($320.41 million) from next year’s budget to incentivise electric vehicle (EV) purchases, though details of the scheme were still being finalised, a senior minister said on Wednesday. Last week, Industry Minister Agus Gumiwang Kartasasmita said buyers could get a discount of 80 million rupiah for EVs …

Indonesia considers $320 million in incentives to boost EV sales in 2023 Read More »

By Choonsik Yoo SEOUL (Reuters) -South Korea’s government on Wednesday promised policy support and deregulation to boost economic growth which it expects to slow next year at a much faster pace than expected previously. The government predicted Asia’s fourth-largest economy would see growth slowing to 1.6% in 2023 from an estimated 2.5% this year, more …

South Korea vows support, deregulation as growth slows Read More »

By Daniel Wiessner (Reuters) – Twitter Inc on Tuesday was accused by 100 former employees of various legal violations stemming from Elon Musk’s takeover of the company, including targeting women for layoffs and failing to pay promised severance. Shannon Liss-Riordan, a lawyer for the workers, said she had filed 100 demands for arbitration against Twitter …

Twitter is hit with dozens of legal complaints by ex-employees Read More »

By Amanda Cooper LONDON (Reuters) – The dollar’s biggest bull run in 40 years may have finally come to a screeching halt, now that the world’s last dovish central bank – the Bank of Japan – has finally relaxed its iron grip on long-term interest rates. The BOJ shocked markets on Tuesday with a surprise …

Analysis-As Bank of Japan switches gears, roaring dollar hits the skids Read More »

By Andrea Shalal and Trevor Hunnicutt WASHINGTON (Reuters) – The U.S. economy is “already being impacted” by China’s latest COVID developments and energy shortages in Europe, Deputy Treasury Secretary Wally Adeyemo said on Tuesday, but it is in better shape than in the past to withstand such pressures. Adeyemo, in a phone interview with Reuters, …

U.S. feeling impact of China COVID changes, can ‘power through it’ -Treasury’s Adeyemo says Read More »

By Tom Westbrook SINGAPORE (Reuters) – The Bank of Japan’s decision on Tuesday to adjust its policy band for bond yields, a step it said was aimed at improving market functioning, is instead drawing speculators deeper into betting on bigger changes by the developed world’s last dove. As traders were quietly winding down after a …

Analysis-Bank of Japan gives an inch, investors ready to claim a mile Read More »

By Andres Gonzalez LONDON (Reuters) – Wind turbine maker Siemens Gamesa has appointed its Asia Pacific boss Richard Luijendijk as chief executive of its onshore unit as it seeks to turn around the business, a memo signed by Siemens Gamesa CEO Jochen Eickholt showed. Luijendijk will replace Lars Bondo Krogsgaard, whose departure was announced in …

Siemens Gamesa names Luijendijk CEO of onshore wind unit Read More »

By Tassilo Hummel PARIS (Reuters) – A group of French crypto investors have filed a criminal complaint against Binance, accusing the world’s biggest crypto exchange of misleading the public and promoting its services before it was legally allowed to do so, their lawyers said on Tuesday. The group, who were clients of the platform, have …

French clients file complaint against Binance over social media marketing practices Read More »