Reuters Asia Business

By Praveen Menon SYDNEY (Reuters) – Singapore sovereign wealth fund GIC, one of the world’s biggest investors, said it is factoring in the potential for a global recession and was prepared to stress-test its portfolio if need be. GIC Chief Executive Lim Chow Kiat told Reuters in an interview that rising inflation poses a big …

Singapore’s GIC says global recession scenario possible, eyes Australia opportunities Read More »

WASHINGTON (Reuters) – U.S. Deputy Treasury Secretary Wally Adeyemo will travel to Asia this week for a two-day meeting with finance ministers from the Asia-Pacific region and bilateral meetings in Thailand and Singapore, the U.S. Treasury Department said on Tuesday. Adeyemo, who has led work on U.S. sanctions over Russia’s invasion of Ukraine, will represent …

U.S. Treasury’s Adeyemo heads to APEC meeting with focus on trade, ‘resilience’ Read More »

By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka approved legislation on Tuesday to let companies from oil-producing nations import and sell fuel as it attempts to cope with a steep oil bill that deepened its worst financial crisis in decades. The island of 22 million people is caught in the throes of a severe foreign exchange …

Sri Lanka approves law to liberalize petroleum imports Read More »

By Naveen Thukral and Dominique Patton SINGAPORE/BEIJING (Reuters) – China’s soybean stocks are set to tighten further as delays in shipments from the United States deepen shortages of key animal feed ingredient soymeal, keeping prices at record highs. Ships carrying up to three million tonnes of U.S. soybeans which were scheduled to arrive this month …

Shipping woes to squeeze China’s soybean stocks, hit feed output Read More »

(Reuters) – Amazon Web Services (AWS),the cloud computing division of Amazon.com Inc, said on Monday it plans to invest $5 billion in Thailand over the next 15 years to strengthen its infrastructure in the country. The investment would include construction of data centers and purchase of goods and services from regional businesses, AWS said in …

Amazon to boost Thailand cloud infrastructure with $5 billion investment Read More »

SEOUL (Reuters) – South Korea’s LG Chem Ltd said in a regulatory filing on Tuesday that it is investing $566 million to acquire U.S. firm Aveo Pharmaceuticals Inc and enter the U.S. anti-cancer drug market. The deal is expected to close in the first quarter of 2023, LG Chem said. (Reporting by Joyce Lee; Editing …

S.Korea’s LG Chem to invest $566 million to acquire U.S. Aveo Pharmaceuticals Read More »

By Sarah Wu TAIPEI (Reuters) -Taiwanese tech giant Foxconn, best known for assembling Apple’s iPhone, said on Tuesday it hopes to one day make cars for Tesla as it ramps up electric vehicle (EV) manufacturing in a strategy to diversify its business. Speaking at the company’s annual Tech Day, Chairman Liu Young-way said Foxconn, the …

A Foxconn Tesla? Taiwan tech giant targets 5% of EV manufacturing by 2025 Read More »

By Maki Shiraki and Rocky Swift TOKYO (Reuters) – Japan is already seeing an increase in inbound travellers since relaxing its COVID-19 border controls last week, but a full recovery will remain elusive until China opens up, said the head of the country’s biggest international airport. Narita Airport chief executive Akihiko Tamura said a jump …

Japan travel industry’s recovery depends on China reopening- Narita Airport CEO Read More »

(Reuters) -BYD Co, China’s biggest electric car maker, said third-quarter net profit likely more than quadrupled as it extends its sales lead over Tesla Inc in the world’s largest auto market. Shares in BYD jumped. Having ditched gasoline vehicles from its product mix this year, BYD has, more than any other automaker, been able to …

BYD flags huge quarterly profit jump as China sales surge past Tesla Read More »