Reuters Asia Business

By Jonathan Stempel NEW YORK (Reuters) – Roger Ng, the former Goldman Sachs banker convicted for helping loot Malaysia’s 1MDB sovereign wealth fund, on Friday sued the government’s star witness Tim Leissner for more than $130 million, alleging fraud. In a complaint filed in a New York state court in Manhattan, Ng accused his former …

Ex-Goldman banker Ng, convicted in 1MDB case, sues ex-boss Leissner for $130 million Read More »

By Priyamvada C (Reuters) – U.S. hotel operators expect more pain from China’s strict COVID-19 lockdowns which have halted construction of some luxury properties and impeded travel to one of the world’s key tourism markets. Growth in China has been stuttering at a time when companies are rushing to open hotels and capitalise on pent …

U.S. hotels reel from China COVID curbs amid travel boom Read More »

By Nichola Groom (Reuters) -More than 1,000 shipments of solar energy components worth hundreds of millions of dollars have piled up at U.S. ports since June under a new law banning imports from China’s Xinjiang region over concerns about slave labor, according to federal customs officials and industry sources. The level of seizures, which has …

Exclusive-U.S. blocks more than 1,000 solar shipments over Chinese slave labor concerns Read More »

HONG KONG (Reuters) – Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 5.78 million Hong Kong-listed shares of electric vehicle maker BYD for HK$1.14 billion ($145.38 million), a stock exchange filing showed. The sale lowered Berkshire’s holdings in BYD’s total issued H-shares to 16.62% on Nov. 8, down from 17.15%, Friday’s filing …

Berkshire Hathaway sells $145 million of shares in China’s BYD, filing shows Read More »

HONG KONG (Reuters) – Hong Kong’s economy contracted 4.5% in the third quarter from a year earlier, advance government data showed on Friday, weighed down by rising global interest rates and a slump in trade. It was the third consecutive quarter of year-on-year contraction for the Asian financial hub’s gross domestic product (GDP), and marked …

Hong Kong’s economy shrinks for third straight quarter, outlook dims Read More »

By Rozanna Latiff and Mei Mei Chu KUALA LUMPUR (Reuters) -Malaysia’s economy expanded at its fastest pace in over a year in the third quarter, outrunning the growth rate in many of its Southeast Asian peers, but the central bank said the outlook was clouded by the risk of a global slowdown. The economy grew …

Malaysia posts fastest economic growth in over a year, outlook clouded Read More »

TAIPEI (Reuters) – Taiwanese electric scooter maker Gogoro Inc is delaying its expansion plans in China due to geopolitical and economic uncertainty there and putting more focus on India and Indonesia, its chief financial officer told Reuters on Friday. As well as making its own vehicles, Gogoro has electric battery and other partnerships with vehicle …

Taiwan electric scooter firm Gogoro delaying China expansion Read More »