Reuters Asia Business

(Reuters) – Cryptocurrency exchange operator Binance said on Wednesday it acquired Sakura Exchange BitCoin (SEBC), a crypto exchange service registered in Japan, to expand into the Asian country. The terms of the transaction were not disclosed by Binance. Through the acquisition, Binance will be able to operate in the Japanese market as an entity regulated …

Binance enters Japanese market with Sakura Exchange BitCoin deal Read More »

(Reuters) – Citigroup on Wednesday forecast global growth to slow to below 2% next year, echoing similar projections by major financial institutions such as Goldman Sachs, Barclays, and J.P. Morgan. Strategists at the brokerage cited continued challenges from the COVID-19 pandemic and the Russia-Ukraine war — which skyrocketed inflation to decades-high levels and triggered aggressive …

Citi expects global growth to slow below 2% in 2023 Read More »

SEOUL (Reuters) – South Korea’s central bank is ready to readjust the pace of its policy tightening to respond to an economic slowdown and a slumping property market, the bank’s governor told the Reuters NEXT conference on Wednesday. But Rhee Chang-yong declined to say whether the Bank of Korea would stop raising interest rates before …

Reuters NEXT: Bank of Korea ready to readjust tightening pace, going by data Read More »

By Selena Li and Jason Xue HONG KONG (Reuters) – Chinese ventures of foreign asset managers including JPMorgan, Warburg Pincus and UBS are gearing up to expand their retirement offerings, as the country officially unveiled a private pension system last week. China on Friday launched its first private pension scheme in 36 cities as it …

JPMorgan, UBS and others vie for bigger share of China’s pension market Read More »

SHANGHAI (Reuters) – BYD was the top-selling car brand in China in the first four weeks of November, brokerage data showed, outperforming the Volkswagen brand in a reversal that highlights the pressure on legacy brands in the world’s largest auto market. Tesla’s retail sales in China also nearly doubled in November, from a year earlier, …

BYD set to be China’s top-selling car brand for Nov, Tesla gains -data Read More »

By Xie Yu and Ziyi Tang HONG KONG (Reuters) -Chinese property developer Shimao Group Holdings Ltd plans a private placement of shares, becoming the second player in the cash-squeezed sector to tap equity fundraising options just a day after Beijing lifted a ban on such deals. Shares of Shimao, a mid-sized developer, surged in Shanghai …

Chinese developer Shimao to raise funds as Beijing lifts equity sales ban Read More »

By Kylie Madry MEXICO CITY (Reuters) – Chinese electric-vehicle maker BYD said on Tuesday it will launch its cars in Mexico next year, with a senior executive pegging its sales target at up to 30,000 vehicles in 2024. Next year, BYD will begin selling fully electric versions of its Tang sport utility vehicle (SUV) alongside …

China’s BYD to sell EVs in Mexico next year, aims up to 30,000 sales in 2024 Read More »

By Siddharth Cavale, Uday Sampath Kumar and Casey Hall NEW YORK/SHANGHAI (Reuters) – Online shopping fatigue set in across the United States and China as retailers in both countries posted mostly lackluster results during both Cyber Week and Singles Day, two of the world’s biggest promotional events, according to the latest data. U.S. shoppers spent …

Analysis-Pickup in U.S. ‘Cyber Week’ sales beat China’s Singles Day gain Read More »