Reuters Asia Business

By Oliver Hirt, Selena Li, Sumeet Chatterjee and Noele Illien ZURICH (Reuters) -Credit Suisse is accelerating cost cuts announced just weeks ago, Chairman Axel Lehmann said on Friday, as client outflows and a slowdown in activity weigh on the Swiss bank’s revenue outlook. “We are really doubling down on the execution,” Lehmann said in a …

Exclusive-Credit Suisse looks to speed up cuts as revenue outlook worsens Read More »

By Eduardo Baptista BEIJING (Reuters) – As a physics student at the elite Peking University in Beijing, Lynn Lau was expecting big Chinese private sector companies to scour the campus this summer for upcoming talent. But with the world’s second-largest economy growing at its slowest rate in decades, many recruiters stayed away this year. The …

Analysis-As economy stutters, China’s youth seek safety of civil service Read More »

By Patturaja Murugaboopathy and Chi Xue (Reuters) – Analysts have upgraded forecasts for Chinese corporate earnings in 2023, on expectations that its economy will benefit from stimulus measures and the easing of COVID-19 restrictions. Analysts raised forward 12-month earnings of companies on the MSCI China index by 2% in November, data from IBES estimates showed. …

Analysts upgrade China’s 2023 earnings projections on reopening hopes Read More »

SEOUL (Reuters) – South Korea’s central bank governor Rhee Chang-yong said he became sceptical of the benefits of new technologies related to Central Bank Digital Currencies (CBDC), after recent events in the cryptocurrency market. “If I narrowly focus on the technology of blockchain and new technologies related with crypto, stablecoin, and DeFi (decentralised finance), I …

Bank of Korea’s Rhee ‘not so sure’ about digital currencies Read More »

SHANGHAI (Reuters) -China Evergrande Group’s electric vehicle unit has suspended mass production of its only model due to a lack of new orders, two people with knowledge of the matter said, in the latest set of troubles facing the indebted property developer. China Evergrande New Energy Vehicle Group said in mid-September that it had started …

Evergrande’s EV unit suspends mass production due to lack of orders -sources Read More »

A look at the day ahead in European and global markets from Tom Westbrook: Having just closed out its worst month since 2010, the dollar’s bull run may be ending. Federal Reserve Chair Jerome Powell green-lit selling this week, surprising traders by not pushing back against markets’ shifting financial conditions looser in the last few …

Marketmind: Dollar on the jobs line Read More »

(Reuters) – Indonesia’s central bank governor Perry Warjiyo said on Friday inflation expectations were coming down rapidly after Bank Indonesia (BI) started hiking interest rates aggressively four months ago. He told a central banking forum in Bangkok that the consensus forecast for Indonesia’s inflation was at 6.9% four months ago, but now is approaching 5.5%, …

Indonesia inflation expectations coming down near central bank’s forecast – gov Read More »

By Andrea Shalal NEW YORK (Reuters) -Damage from Russian attacks on Ukraine’s infrastructure are increasing the amount of aid the country needs “front-loaded” ahead of the harsh winter months, the head of the International Monetary Fund said on Thursday. IMF Managing Director Kristalina Georgieva told the Reuters NEXT conference she was confident international partners would …

Critical to ‘front-load’ aid to Ukraine as costs rise – IMF’s Georgieva Read More »

By Andrea Shalal NEW YORK (Reuters) -International Monetary Fund Managing Director Kristalina Georgieva said on Thursday that she will travel to Beijing next week with heads of other international institutions to discuss China’s economic, COVID-19 and debt relief policies with the country’s leadership. “This is the first time, hopefully, we will be able to sit …

IMF’s Georgieva to discuss economy, COVID with Chinese authorities Read More »

(Reuters) – U.S. trade officials on Thursday are expected to issue a preliminary decision on whether to impose tariffs on solar panels from four Southeast Asian nations, a move clean energy advocates argue would stall projects and harm progress in combatting climate change. The Commerce Department’s finding will mark the latest development in a longstanding …

U.S. to issue tariff decision on solar panels from Southeast Asia Read More »