Reuters Asia Business

By Vivek Kumar M (Reuters) -The $1.3 billion maiden share sale by LG Electronics’ Indian unit closed on Thursday, becoming the most subscribed billion-dollar IPO in nearly two decades, as investors rushed to grab a slice of the appliance maker in a red-hot IPO market. The share sale drew bids worth 4.43 trillion rupees ($49.9 …

LG Electronics’ India IPO attracts $50 billion in bids, sets near two-decade record Read More »

(Reuters) -SoftBank’s payments app operator PayPay Corp has acquired a 40% equity stake in Binance Japan, the Japanese subsidiary of Binance said on Thursday, without disclosing details of the transaction. PayPay is the latest Japanese firm looking to grow its digital asset offerings in light of an anticipated relaxation of regulations in Japan and record …

Softbank’s PayPay buys 40% stake in Binance’s Japan to deepen push into digital payments Read More »

DUBAI (Reuters) -Saudi Aramco said on Thursday it had completed the acquisition of a 22.5% stake in its refining and petrochemicals joint venture Petro Rabigh from Japan’s Sumitomo Chemical for 2.63 billion riyals ($701.8 million), part of a turnaround plan for the loss-making venture. The agreement raises Aramco’s stake in Petro Rabigh to about 60% …

Aramco completes deal to up stake in struggling JV Petro Rabigh Read More »

(changes headline to read billion (not bln) By Selena Li, Tommy Reggiori Wilkes and Scott Murdoch HONG KONG/LONDON (Reuters) -HSBC plans to buy out minority investors in Hong Kong’s Hang Seng Bank for HK$106.1 billion ($13.6 billion), paying a premium and halting its own share buybacks to acquire a lender hit hard by the local …

HSBC offers $13.6 billion to buy out Hong Kong’s Hang Seng Bank Read More »

By Makiko Yamazaki and Yoshifumi Takemoto TOKYO (Reuters) -The Bank of Japan should be cautious about raising interest rates again as the economy is still fragile, said Etsuro Honda, a close economic adviser to Sanae Takaichi, who is likely to become the country’s next prime minister. “Japan is at a delicate stage right now, where …

BOJ should be wary of more rate hikes, adviser to Japan’s likely next PM says Read More »

By Paolo Laudani (Reuters) -Luxury sports carmaker Porsche has seen its sales slide in China and come under pressure in the United States, a reflection of how Germany’s once dominant carmakers are battling the toughest global conditions in years. Porsche car saw global deliveries decline by around 6% in the third quarter of this year, …

Porsche sales slide in China, North America as German carmakers squeezed Read More »

BEIJING (Reuters) -China pledged on Thursday to rein in “disorderly” price competition, urging companies to maintain a fair and orderly market, according to a notice released by the country’s state planner and market regulator. Authorities may evaluate the average cost of production in industries for which disorderly competition is a prominent issue and provide guidelines …

China pledges to rein in ‘disorderly’ pricing competition by companies Read More »

By Leika Kihara TOKYO (Reuters) -A pledge by Japan’s next likely prime minister to reassert government sway over the central bank has fanned worries about political interference in monetary policy, however, a weak yen and politics could limit any such push. Sanae Takaichi is set to become Japan’s next premier and has already rattled markets …

Analysis-Takaichi’s jab at BOJ independence may face political reality check Read More »

By Marc Jones and Phoebe Seers LONDON (Reuters) -Global financial authorities are set to miss a 2027 target set by the G20 group of nations to make international cross-border payments faster, cheaper and more transparent, the G20’s Financial Stability Board said on Thursday. Goals set in 2021 included cutting the global average cost of a …

G20’s cross-border payments push set to miss 2027 target Read More »