Reuters Asia Business

By Muyu Xu SINGAPORE (Reuters) – Road and air traffic in China, the world’s second-biggest oil consumer, has rebounded sharply after a significant easing in the country’s COVID-19 restrictions, boosting the outlook for fuel demand and supporting crude prices. After almost three years of pursuing a policy targeting zero COVID cases, China last week abandoned …

China fuel demand outlook brightens as road, air traffic jump after COVID curbs ease Read More »

(Reuters) -Chinese tech giant Alibaba Group Holding Ltd cannot buy some of the most advanced chip designs after the SoftBank-owned British chip tech firm Arm Ltd determined that U.S. and Britain would not approve licences to export technology to China, the Financial Times reported on Wednesday. This is the first known time that Arm has …

U.S., UK export controls hit China’s access to Arm’s chip designs – FT Read More »

By Jane Lanhee Lee, Josh Horwitz and Alexandra Alper OAKLAND, Calif./SHANGHAI/WASHINGTON (Reuters) – China’s largest chip maker SMIC is ramping up production of a decade-old chip technology, key to many industries’ supply chains, setting off alarm bells in the United States and prompting some lawmakers to try to stop them. The United States and allied …

Analysis-China’s massive older chip tech build up raises U.S. concern Read More »

(Reuters) – The International Monetary Fund’s chief Kristalina Georgieva said a growth downgrade for China was “very likely” after a recent surge in COVID-19 infections in the country, AFP news agency reported on Tuesday. In November, Georgieva had warned of a possible downgrade in China’s GDP forecast. (Reporting by Jyoti Narayan in Bengaluru; editing by …

IMF chief says growth downgrade for China ‘very likely’ over COVID surge – AFP Read More »

LONDON (Reuters) – The executive board of the International Monetary Fund is not expected to formally approve Sri Lanka’s $2.9 billion bailout before year-end, a key step required for the embattled country to receive funding, two sources familiar with the matter said. Seeking a way out of its worst economic crisis in decades, Sri Lanka …

IMF not expected to discuss Sri Lanka before year-end -sources Read More »

By David Shepardson (Reuters) -Subaru on Tuesday said it was recalling 271,000 Ascent sport utility vehicles with model years between 2019 to 2022 due to increased fire risks and urged owners to park their vehicles outside until repairs are completed. The Japanese automaker said owners should park away from structures and avoid leaving vehicles unattended …

Subaru recalls 271,000 U.S. vehicles for fire risks, urges drivers to park outside Read More »

By Takahiko Wada and Leika Kihara TOKYO (Reuters) – The Bank of Japan should change a policy statement so it has more flexibility to adjust interest rates instead of narrowly focusing on maintaining massive stimulus, Mana Nakazora, chief credit strategist at BNP Paribas Japan, told Reuters. Nakazora, also a member of a trade ministry panel …

BOJ should amend policy statement to include scope for rate changes – Nakazora Read More »

By Gibran Naiyyar Peshimam ISLAMABAD (Reuters) – Pakistan is seeking financial help from Saudi Arabia that will include doubling the current deferred oil payment facility given by Riyadh to $2.4 billion per year, Finance Minister Ishaq Dar said on Tuesday. Pakistan is struggling to meet its external financing obligations in the face of low foreign …

Pakistan expecting Saudi financial help – finance minister Read More »

HONG KONG (Reuters) – Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 1.33 million Hong Kong-listed shares of electric vehicle maker BYD for HK$267.69 million ($34.43 million), a stock exchange filing showed. The sale lowered Berkshire’s holdings in BYD’s total issued H-shares to 14.95% on Dec. 8, down from 15.07%, according to …

Berkshire Hathaway sells $34.4 million worth of shares in China’s BYD Read More »