Reuters Asia Business

China’s industrial profits drop further as COVID woes take toll on economy

27 Nov 2022

By Liz Lee and Liangping Gao BEIJING (Reuters) -China’s industrial firms saw overall profits decline further in the January-October period as COVID-19 outbreaks flared up and cities imposed new virus curbs, including targeted lockdowns, dampening economic activity. Industrial profits fell 3.0% in the first 10 months of 2022 from a year earlier. That compares with …

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BOJ to conduct annual survey on climate finance to nurture ESG market

27 Nov 2022

By Leika Kihara TOKYO (Reuters) – Bank of Japan (BOJ) Deputy Governor Masayoshi Amamiya said on Sunday the central bank will conduct a survey annually of financial institutions and companies, seeking ways to nurture the country’s growing climate finance market. An initial survey in August showed “strong demand” in Japan for “green” bonds and other …

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South Korea transport ministry to meet with striking truckers union on Monday

26 Nov 2022

By Heekyong Yang SEOUL (Reuters) -South Korea’s transport ministry plans to meet with the striking truckers union on Monday for negotiations, a ministry official said on Saturday, with the impact of the strike expected to be more keenly felt through the country early next week. Thousands of unionised truckers launched their second major strike in …

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U.S. bans Huawei, ZTE equipment sales, citing national security risk

26 Nov 2022

By Diane Bartz and Alexandra Alper (Reuters) -The Biden administration has banned approvals of new telecommunications equipment from China’s Huawei Technologies and ZTE because they pose “an unacceptable risk” to U.S. national security. The U.S. Federal Communications Commission said on Friday it had adopted the final rules, which also bar the sale or import of …

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Macau’s 6 casino operators get new licences, Malaysia’s Genting out

26 Nov 2022

(Reuters) -Macau’s government said on Saturday its six incumbent casino operators would be given new licences to operate in the world’s biggest gambling hub from January, with Malaysian operator Genting missing out on a spot. The highly anticipated announcement signals stability and continuity for the Macau operators who have invested more than $50 billion in …

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China’s Shenzhen Energy signs long-term LNG contract with BP

26 Nov 2022

SINGAPORE (Reuters) – China’s Shenzhen Energy Group has signed a long-term agreement with oil major BP to buy liquefied natural gas (LNG), aiming to lock in supplies with gas-fired power generation poised to surge in the world’s second-largest economy. The agreement is Shenzhen Energy’s first long-term international LNG contract and its first long-term contract with …

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Binance CEO Zhao says don’t fight crypto, regulate it

26 Nov 2022

ATHENS (Reuters) – Binance Chief Executive Officer Changpeng Zhao said on Friday regulation rather than opposition of the crypto sector is a better option for world governments as digital currencies become more mainstream. Regulation of crypto currencies has come into sharp focus following the collapse of several platforms, culminating in the crash of the FTX …

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Elon Musk says Twitter’s verified service with colors to start next week

25 Nov 2022

(Reuters) -Twitter Inc is planning to roll out its verified service next Friday with different colored checks for individuals, companies and governments, after a botched initial launch led to a surge in users impersonating celebrities and brands on the platform. Chief Executive Elon Musk on Friday allotted colors for the categories – gold for companies, …

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