Reuters Asia Business

Technology-sharing a sticking point as Renault, Nissan hash out reset, sources say

25 Oct 2022

By Gilles Guillaume, Maki Shiraki and David Dolan PARIS/TOKYO (Reuters) -The sharing of technology has emerged as a sticking point between Renault SA and Nissan Motor Co Ltd as the pair negotiate an overhaul of their decades-old partnership, two people familiar with discussions told Reuters. The French and Japanese automakers said this month they were …

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Japan likely spent around $6 billion for Oct 24 suspected FX intervention

25 Oct 2022

By Tetsushi Kajimoto and Daiki Iga TOKYO (Reuters) – Japan likely spent up to 900 billion yen ($6 billion) on its second straight day of suspected currency intervention on Monday, bringing the total for yen-buying action since last month to as much as 9.2 trillion yen, according to market estimates on Tuesday. Authorities’ so-called stealth …

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Wall Street bankers in Riyadh renew warnings over world economy

25 Oct 2022

RIYADH (Reuters) -Top Wall Street bankers renewed their warnings about the world economy on Tuesday amid geopolitical tensions and steep interest rate hikes to tackle decades-high inflation. Goldman Sachs boss David Solomon said economic conditions would “tighten meaningfully from here” and the U.S. Federal Reserve could hike rates beyond 4.5-4.75% if it does not see …

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Climate inaction risks damaging Philippines growth – World Bank

25 Oct 2022

MANILA (Reuters) – Extreme weather events and rising temperatures could see 13.6% of the Philippines’ economic output lost by 2040, inflicting a heavy toll on the country’s poorest if it does not address climate change, a World Bank report said on Tuesday. The report warned that temperatures in the Philippines will continue to rise and …

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China’s Q4 GDP hits early speed bump as COVID stifles economy

25 Oct 2022

By Ryan Woo, Ellen Zhang and Bernard Orr BEIJING (Reuters) – China’s economic growth is hitting an early speed bump in the fourth quarter as COVID-19 curbs and anxieties further tapped the brakes on travel and shipping, constraining consumption and commerce in the world’s second-largest economy. Mobility statistics – from metro passenger traffic in cities …

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China Jan-Sept fiscal revenue up 4.1% y/y, excluding impact of tax credit rebates

25 Oct 2022

BEIJING (Reuters) – China’s fiscal revenue rose 4.1% in the January-September period from a year earlier, after excluding the impact of value-added-tax credit rebates, the finance ministry said on Tuesday. Fiscal expenditure rose 6.2% in the first nine months, according to the finance ministry. (Reporting by Ellen Zhang and Ryan Woo; Editing by Andrew Heavens)

Indonesia expects new gas supply contract with Singapore next week -minister

25 Oct 2022

SINGAPORE (Reuters) – Indonesia expects to sign a new long-term contract next week to supply Singapore with piped natural gas via the Grissik-Batam-Singapore Pipeline, the country’s Minister for Energy and Mineral Resources Arifin Tasrif said on Tuesday. Some of the details in the contract are still being ironed out, he told Reuters on the sidelines …

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