Reuters Asia Business

MUMBAI (Reuters) – Chinese smartphone maker Xiaomi Corp on Sunday said it was “disappointed” with an Indian order that froze $682 million of its assets and would continue to protect its interests. An Indian appellate authority on Friday confirmed an April order by India’s federal financial crime fighting agency, the Enforcement Directorate, to seize 55.51 …

China’s Xiaomi says will protect business interests after assets frozen in India Read More »

(Reuters) – A look at the day ahead in Asian markets from Jamie McGeever The final quarter of the year kicks off on Monday and the market mood could not be darker. This may in fact be one of the few sources of optimism that the bottom is in, at least for now. Investors are …

Marketmind: Can Q4 stop the rot? Read More »

By Anshuman Daga and Yantoultra Ngui SINGAPORE (Reuters) -Buyout firms and asset managers are moving in on billions of dollars of infrastructure assets across Southeast Asia, lured by the sector’s growth prospects and stable, long-term returns, bankers and analysts say. Merger and acquisition deal volume is up in the sector so far this year, data …

Global funds find promise in Southeast Asia infrastructure deals Read More »

MONTREAL (Reuters) – Nigeria would consider buying China’s newly-certified C919 passenger jet as it grows the country’s fledgling carrier Nigeria Air to 30 planes by around 2025, Aviation Minister Hadi Sirika said on Saturday. Sirika said the new airline would have a mixture of Airbus and Boeing planes, but added the carrier is also willing …

Nigeria would consider China’s C919 plane for new airline Read More »

KARACHI, Pakistan (Reuters) – Pakistan’s inflation slowed in September, with the consumer price index (CPI) rising 23.2% from a year earlier, the statistics bureau said on Saturday. Prices were down 1.2% from the previous month, the bureau said in a press release. In August, CPI hit a multi-decade high of 27.3% year-on-year. While the CPI …

Pakistan CPI inflation slows to 23.2% y/y in September Read More »

BANGKOK (Reuters) -Thailand’s central bank has been in the foreign exchange market to reduce currency volatility, the central bank said on Saturday, as the Thai baht currency hovered at 16-year lows against the dollar. The baht has fallen 11.7% against the dollar this year, which the central bank said had been driven by dollar strength. …

Thai central bank says has acted to curb baht volatility Read More »

By Maytaal Angel and Bernadette Christina LONDON/JAKARTA (Reuters) – Food giant Nestle plans to stop sourcing from subsidiaries of Astra Agro Lestari (AAL), a major Indonesian palm oil producer accused by environmental groups of land and human rights abuses. The move comes as multinationals face increased reputational and legal pressure from consumers and governments to …

Nestle to stop sourcing from Indonesian palm oil producer AAL Read More »

By Julie Zhu and Josh Ye HONG KONG (Reuters) – Tencent is resetting its M&A strategy to put more focus on buying majority stakes mainly in overseas gaming companies, as the tech giant eyes global expansion to offset slowing growth at home in China, people with direct knowledge of the matter said. Tencent Holding Ltd …

Tencent shifts focus to majority deals, overseas gaming assets for growth-sources Read More »

MELBOURNE (Reuters) – Australia’s second-largest telcoms firm Optus, owned by Singapore Telecommunications, on Saturday ran a full-page apology in major newspapers for a “devastating” cyberattack 10 days ago and pointed affected customers to a new help site. “We’re deeply sorry that a cyberattack has happened on our watch,” the company said in the notice. “We …

Australia’s Optus says ‘deeply sorry’ for cyberattack Read More »