Reuters Asia Business

(Reuters) -Singapore’s sovereign wealth fund GIC and Canada’s Dream Industrial REIT will buy Canada’s Summit Industrial Income REIT for about C$4.46 billion ($3.30 billion), excluding debt, the companies said in separate statements on Monday. GIC and Dream Industrial REIT (DIR) will form a joint venture for the deal, with GIC owning 90% and DIR owning …

Singapore’s GIC, partner to buy Canadian REIT Summit for $3.3 billion Read More »

SHANGHAI (Reuters) – Chinese chip manufacturer Hua Hong Semiconductor Ltd has received regulatory approval for an 18 billion yuan ($2.5 billion) IPO in Shanghai, according to a filing published late on Friday on the Hong Kong stock exchange. The planned initial public offering (IPO) comes as China’s chip companies gear up for steeper competition with …

China’s second-largest chipmaker poised for $2.5 billion IPO in Shanghai Read More »

By Gayatri Suroyo and Fransiska Nangoy JAKARTA (Reuters) -Indonesia’s economy expanded at its fastest pace in more than a year in the third quarter, underpinned by improved investment and government spending, but economists warned of tougher times ahead. Southeast Asia’s largest economy grew 5.72% year-on-year, according to data from Statistics Indonesia. That was up from …

Indonesia posts fastest economic growth in over a year, outlook uncertain Read More »

By Josh Ye HONG KONG (Reuters) – The chief executive of China’s Bilibili Inc has taken over direct supervision of the company’s gaming department, according to an internal email seen by Reuters, as the Alibaba-backed company looks to boost revenue growth. The human resource department of Bilibili, best known for its YouTube-like video-sharing platform, issued …

CEO of China’s Bilibili to manage gaming unit in bid to boost revenue Read More »

By Ellen Zhang and Ryan Woo BEIJING (Reuters) – China’s exports and imports unexpectedly contracted in October, the first simultaneous slump since May 2020, as a perfect storm of COVID curbs at home and global recession risks dented demand and further darkened the outlook for a struggling economy. The bleak data highlights the challenge for …

China’s trade unexpectedly shrinks as COVID curbs, global slowdown jolt demand Read More »

(Reuters) – China’s imports of soybeans and copper fell in October from a year earlier, while those of crude oil and iron ore rose, data from the General Administration of Customs showed on Monday. China’s exports and imports unexpectedly contracted in October, the first simultaneous slump since May 2020, as surging inflation and rising interest …

Instant view: China October imports of soybeans and copper fall y/y Read More »

(Reuters) – After Twitter Inc laid off roughly half its staff on Friday following Elon Musk’s $44 billion acquisition, the company is now reaching out to dozens of employees who lost their jobs and asking them to return, Bloomberg News reported on Sunday. Some of those who are being asked to return were laid off …

Twitter asks some laid off workers to come back, Bloomberg reports Read More »

By Mayu Sakoda, Makiko Yamazaki and Takaya Yamaguchi TOKYO (Reuters) – Disagreement over whether to keep Toshiba Corp’s management following a potential buyout caused friction between two of its suitors and is now stoking concern among banks, sources said, further complicating an already uncertain process. Japan Industrial Partners, the private equity firm since selected by …

Fate of management at Japan’s Toshiba a cause of friction for bidders and banks, sources say Read More »

HANOI (Reuters) – Vietnam’s central bank is willing to provide liquidity to the local banking system, Governor Nguyen Thi Hong said on Sunday, as lenders face pressure from higher interest rates and tightening credit conditions. Hong confirmed that the central bank had held emergency meetings during the week with commercial banks to discuss liquidity in …

Vietnam central bank chief says it can provide liquidity to the banking system Read More »