Reuters Asia Business

KARACHI, Pakistan (Reuters) – Pakistan said on Friday it “strongly contests” a ratings downgrade by agency Moody’s, adding that it had adequate liquidity and financing arrangements to meet its external liabilities despite being hit by catastrophic floods. Moody’s cut Pakistan’s sovereign credit rating on Thursday by one notch further into junk territory to Caa1 from …

Pakistan contests Moody’s ratings downgrade, says can meet its obligations Read More »

TAIPEI (Reuters) – Taiwan’s exports fell in September for the first time in more than two years on weakness in demand in major market China and stagnant consumer spending even as chip demand held up, with the government predicting more turbulence ahead. Exports fell 5.3% in September from a year earlier to $37.53 billion, the …

Taiwan Sept exports drop for first time in two years, outlook poor Read More »

KUALA LUMPUR (Reuters) – Malaysia has allocated 7.8 billion ringgit ($1.68 billion) in cash aid for low-income households and individuals, Finance Minister Tengku Zafrul Abdul Aziz said on Friday in his budget speech. The government has also allocated 2.5 billion ringgit in welfare aid in its 2023 budget, he said. Malaysia unveiled a smaller budget …

Malaysia allocates $1.7 billion in cash aid for low-income households Read More »

Oct 7 (Reuters) – Hong Kong’s official foreign currency reserve assets stood at $419.2 billion at end-September, the Hong Kong Monetary Authority said on Friday, down 2.9 percent from $431.8 billion at end-August. ((Reporting by Hong Kong news room)( +852 2841 5763))

(Reuters) – Alphabet Inc’s Google plans to invest a total of 100 billion yen ($690.13 million) in Japan through 2024, its Chief Executive Officer Sundar Pichai told Nikkei in an interview on Friday. Google will open a data centre in Chiba Prefecture near Tokyo next year — its first in Japan — which will provide …

Google to invest $690 million in Japan, CEO Pichai tells Nikkei Read More »

ROME (Reuters) – The United Nations food agency’s world price index fell for a sixth month in a row in September, receding from all-time highs posted earlier this year after Russia invaded Ukraine. The Food and Agriculture Organization (FAO) said on Friday that its price index, which tracks the most globally traded food commodities, averaged …

World food price index falls for sixth month in Sept -FAO Read More »

By Tom Hals WILMINGTON, Del. (Reuters) -Elon Musk said banks are working to finance his $44 billion deal for Twitter Inc and asked a judge to halt the social media company’s lawsuit, which Twitter swiftly rejected and said the case should head to trial this month, according to Thursday court filings. The world’s richest person …

Elon Musk, Twitter spar over billionaire’s bid to stop lawsuit on eve of trial Read More »

By Alexandra Alper and Karen Freifeld WASHINGTON (Reuters) -The Biden administration plans to spare SK Hynix and Samsung from the brunt of new restrictions on memory chipmakers in China aimed at thwarting Beijing’s technological ambitions and blocking its military advances, sources said. The Commerce Department, which plans to release new curbs on exports of technology …

Exclusive-Samsung, SK Hynix to be spared brunt of China memory chip crackdown -sources Read More »