Reuters Asia Business

By Daphne Psaledakis WASHINGTON (Reuters) -The United States on Thursday imposed sanctions on companies it accused of involvement in Iran’s petrochemical and petroleum trade, including five based in China, pressuring Tehran as it seeks to revive the 2015 Iran nuclear deal. Washington has increasingly targeted Chinese companies over the export of Iran’s petrochemicals as the …

U.S. imposes new sanctions on Iran oil exports, targets Chinese firms Read More »

SHANGHAI (Reuters) -China’s yuan bounced on Thursday from a 14-year low against the dollar hit in the previous session, snapping eight straight days of losses, after the central bank warned against speculative trading and heavy one-way bets on the currency. The People’s Bank of China (PBOC) said on Wednesday that stabilising the foreign exchange market …

China’s yuan snaps eight-day losing streak after strong PBOC warning Read More »

TAIPEI (Reuters) -Taiwan central bank governor Yang Chin-long said on Thursday there would be no foreign exchange controls during his tenure at the bank, adding management measures were sufficient to maintain market stability if there were large capital outflows. Yang’s five-year term is due to expire early next year. He can be reappointed for a …

No forex controls while I’m in office, Taiwan central bank chief says Read More »

BEIJING (Reuters) -China’s central bank said on Thursday it will step up efforts to consolidate an economic recovery, citing a slew of risks to the global economy while pledging to implement prudent monetary policy and keep liquidity reasonably ample. The People’s Bank of China also said it will focus on stabilising employment and prices, and …

China’s central bank to step up efforts to support economic recovery Read More »

FRANKFURT (Reuters) – Shares in Volkswagen’s sportscar brand Porsche started trading on Thursday in what marks Germany’s second-largest listing ever as well as a new phase in a sometimes fraught relationship between the two auto brands that goes back decades. 1931 Ferdinand Porsche opens a design office, the first stage of a business that will …

The long, winding road to Volkswagen’s Porsche IPO Read More »

JAKARTA (Reuters) – Indonesia’s parliament on Thursday approved President Joko Widodo’s 3,061.2 trillion rupiah ($200.73 billion) budget for next year, with a fiscal deficit of 2.84% of gross domestic product, the deputy house speaker Rachmat Gobel said. The 2023 budget aims to consolidate fiscal positions after the deficit was allowed to stretch beyond a legally-mandated …

Indonesia’s parliament approves 2023 fiscal budget Read More »

TOKYO (Reuters) – Japan’s Hitachi Transport System Ltd said on Thursday it had been informed by KKR & Co that the private equity firm’s tender offer for it would be delayed from the initially planned end-September start. In a statement, Hitachi Ltd’s logistics arm cited KKR as saying it would now aim for a mid-November …

KKR’s tender offer for Hitachi Transport to be delayed -statement Read More »

By Selena Li HONG KONG (Reuters) -Credit Suisse has named veteran banker Jing Wang head of its Chinese securities joint venture, as the bank presses ahead with plans to expand in the world’s second-largest economy while preparing a strategy review for its global business. Wang has been named chief executive officer of Credit Suisse Securities …

Credit Suisse appoints China joint venture CEO amid global restructuring Read More »

By Orathai Sriring and Kitiphong Thaichareon (Reuters) – Thailand will gradually raise interest rates to bring inflation back to target and ensure a continued recovery, the central bank chief said on Thursday, playing down the impact of a weak baht on the overall economy. However, the Bank of Thailand (BOT) was ready to adjust the …

Thai rate hikes to be gradual, weak baht impact small -central bank chief Read More »

BANGKOK (Reuters) – Thailand may record slightly more than 10 million foreign tourist arrivals this year, the tourism minister said on Friday, as a vital industry has recovered from the impact of the pandemic. There have been about 5.8 million foreign arrivals since the start of the year, Phiphat Ratchakitprakarn told a seminar. (Reporting by …

Thailand may receive more than 10 million foreign tourists this year – minister Read More »