Reuters Asia Business

Thai telco regulator’s decision on $8.6 billion True-DTAC merger due next week

BANGKOK (Reuters) – Thailand’s telecommunications regulator on Wednesday said it expects to make a decision on the merger of the country’s second- and third-largest mobile networks on Oct. 20, nearly a year after the deal was first announced. If the deal between True Corporation Pcl and Total Access Communication Pcl (DTAC) is approved, the new …

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India’s Fireside Ventures raises $225 million for third fund

By Yuvraj Malik BENGALURU (Reuters) – India’s Fireside Ventures has raised $225 million for its third fund to back domestic consumer brands, the venture capital firm said Wednesday, becoming the latest to firm its bet on Asia’s third-largest economy even as startup funding dries up globally. The early-stage investor said the new fund, worth about …

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Mercedes-Benz and Microsoft collaborate on supply chain data platform

BERLIN (Reuters) – Mercedes-Benz and Microsoft announced a partnership on Wednesday using Microsoft Cloud for a data platform intended to improve production efficiency at over 30 passenger car plants globally, the carmaker said on Wednesday. The data platform, called MO360, is already available in Europe, the Middle East and Africa and will also be launched …

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Philippines hopes Cadlao oil redevelopment will revitalise upstream sector

MANILA (Reuters) – The Philippines is seeking to revive its moribund upstream oil industry with the redevelopment of an oil field that last produced in the early 1990s, as it hopes to wean itself off fuel imports, energy officials said on Wednesday. With the Southeast Asian nation importing nearly all of its fuel requirements, high …

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If Taiwan is safe, chip supply chains will be secure, says Taiwan minister

By David Shepardson and David Brunnstrom WASHINGTON (Reuters) -Taiwanese Minister for Economic Affairs Wang Mei-Hua said on a visit to the United States on Tuesday that if Taiwan remains safe, global supply chains of vital semiconductors would also be secure. Wang made the comments at an event hosted by Washington’s Center for Strategic and International …

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Germany’s SLM recommends shareholders accept Nikon takeover offer

(Reuters) – The board of German 3D metal printing machine maker SLM Solutions Group AG on Tuesday recommended that its shareholders accept a takeover offer from Japanese camera maker Nikon Corp. Nikon announced last month its plans to take over SLM Solutions for 622 million euros ($607.20 million), in a bid to become the global …

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Oil settles lower on China COVID flare-up, recession fear

By Laura Sanicola (Reuters) -Oil prices settled 2% lower on Tuesday, extending the previous session’s almost 2% decline, as recession fears and a flare-up in COVID-19 cases in China raised concerns over global demand. World Bank President David Malpass and International Monetary Fund Managing Director Kristalina Georgieva warned on Monday of a growing risk of …

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Markets sway around on raft of economic, political worries

By Sinéad Carew and Dhara Ranasinghe LONDON/NEW YORK (Reuters) – MSCI’s global index of stocks pared losses on Tuesday after hitting its lowest level in almost two years, while the dollar turned red and oil prices declined on fears about a potential global recession as central banks fight inflation with rapid interest rate hikes. Adding …

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Meta’s new Quest Pro headset, mixing real and virtual worlds, makes debut

By Katie Paul (Reuters) -Meta Platforms unveiled its Quest Pro virtual and mixed reality headset on Tuesday, marking a milestone for Chief Executive Mark Zuckerberg’s break into the higher-end market for extended reality computing devices. The headset, introduced at Meta’s annual Connect conference, will hit shelves on Oct 25 at a price of $1,500, and …

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