Reuters Asia Business

HONG KONG (Reuters) – Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 3.23 million Hong Kong-listed shares of electric vehicle maker BYD for HK$630.33 million ($80.67 million), a stock exchange filing showed. The sale lowered Berkshire’s holdings in BYD’s total issued H-shares to 15.99% on Nov. 17, down from 16.28%, a filing …

Berkshire Hathaway sells $80.7 million of shares in China’s BYD Read More »

(Reuters) -Baidu Inc’s third-quarter revenue beat Wall Street estimates on Tuesday, as China’s search engine giant benefited from a recovery in online advertising sales and growth in its cloud and artificial intelligence (AI) business. Baidu, which generates most of its revenue from ads on its Google-like search engine, has seen a recovery since the second …

China’s Baidu beats Q3 revenue estimates as ad sales recover Read More »

By Kane Wu and Andres Gonzalez HONG KONG/LONDON (Reuters) – China’s Fosun International Ltd has appointed Deutsche Bank to advise on a potential sale of its stake in Hong Kong-based reinsurance company Peak Re, four people with knowledge of the matter told Reuters. The sale comes as the tourism-to-financials conglomerate is battling with high debts. …

China’s Fosun appoints Deutsche Bank to sell Peak Re – sources Read More »

JAKARTA (Reuters) – Pertamina International Shipping, a unit of Indonesia’s state energy firm, aims to invest up to $3 billion over the next five years to rejuvenate and expand its fleet, including investing in vessels to transport liquefied natural gas, an executive said. Pertamina International Shipping (PIS) operates more than 400 vessels, including three very …

Indonesian Pertamina’s shipping unit plans up to $3bln investment for vessels Read More »

By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s central bank is expected to keep rates steady as inflation shows signs of easing and as authorities focus on discussions to secure a $2.9 billion International Monetary Fund (IMF) bailout to stabilise its crisis-hit economy. Thirteen out of 15 economists and analysts polled by Reuters forecast rates …

Sri Lanka to hold rates as inflation slows slightly, focus on IMF bailout Read More »

By Sarah Wu and Yimou Lee TAIPEI (Reuters) – Major Apple Inc supplier and iPhone assembler Foxconn said on Tuesday it had hired Chiang Shang-yi, a former top executive at Taiwanese chipmaker TSMC and Chinese chipmaker SMIC, to lead its growing push in the chip business. Foxconn, the world’s largest contract electronics maker, is best …

Apple supplier Foxconn hires chip veteran formerly at TSMC and SMIC Read More »

By Sheila Dang (Reuters) – A coalition of civil rights activists on Monday were urging Twitter’s advertisers to issue statements about pulling their ads off the social media platform after its owner Elon Musk lifted the ban on tweets by former U.S. President Donald Trump. Trump’s account, which Twitter had suspended after the U.S. Capitol …

‘Toxic Twitter’ activists ramp up pressure on brands after Trump account reinstated Read More »