Reuters Asia Business

MOSCOW (Reuters) – After launching a digital rouble early next year, Russia plans to use the currency in mutual settlements with China as it seeks to reduce Washington’s global financial hegemony, a senior Russian lawmaker said on Monday. Russia, like many countries, has been developing digital money over the last couple of years to modernise …

Russia plans to use digital rouble in settlements with China, says lawmaker Read More »

By Hyunjoo Jin SAN FRANCISCO (Reuters) – Tesla’s CEO Elon Musk is set to unveil its prototype humanoid robots at an event on Sept. 30, hoping to expand beyond self-driving cars that have not yet become reality despite his repeated promises. While robots are widely used for specialist tasks at factories, other companies have struggled …

Factbox-The challenges automakers, and now Tesla, face with humanoid robots Read More »

TOKYO (Reuters) – Japan is estimated to have spent about 3.6 trillion yen ($25 billion) in its first dollar-selling, yen-buying intervention in 24 years last Thursday to stem the yen’s recent sharp weakening, according to estimates by Tokyo money market brokerage firms. The estimate could offer clues on the exact size of Japan’s currency intervention …

Japan likely spent $25 billion for Sept 22 FX intervention – estimates Read More »

MANILA (Reuters) – The Philippine economy will grow more slowly this year than previously thought due to the global economic slowdown and tightening financial conditions, the International Monetary Fund (IMF) said on Monday. The IMF said the economy would expand 6.5%, weaker than its previous forecast of 6.7%, but in line with the Philippine government’s …

Philippine economy to grow more slowly than previously thought in 2022 -IMF Read More »

JAKARTA (Reuters) – Flag carrier Garuda Indonesia has requested that a court in New York recognise the airline’s recent debt restructuring deal in a Jakarta court, under Chapter 15 of the U.S. Bankruptcy Code, its chief executive said on Monday. Garuda filed the Chapter 15 case late last week at a New York bankruptcy court, …

Garuda Indonesia files for Chapter 15 U.S. bankruptcy procedure – CEO Read More »

By Muyu Xu SINGAPORE (Reuters) – A U.S. Treasury official has ruled out secondary sanctions to enforce a price cap mechanism on Russian oil exports despite a proposal last week by U.S. senators. Democratic and Republican senators last week proposed that U.S. President Joe Biden’s administration use secondary sanctions on international banks to strengthen the …

U.S. official rules out secondary sanctions for Russian oil price cap Read More »

SHANGHAI (Reuters) -China’s yuan finished domestic trading session at a new 28-month low against the dollar on Monday, near its downside trading limit, despite the central bank taking steps to rein in the currency’s weakness. The People’s Bank of China (PBOC) said it would raise the foreign exchange risk reserves for financial institutions when purchasing …

China’s yuan ends at 28-month low despite fresh policy step, nears daily lower limit Read More »

By Tetsushi Kajimoto and Leika Kihara TOKYO/OSAKA (Reuters) -Japanese Finance Minister Shunichi Suzuki said authorities stood ready to respond to speculative currency moves, a fresh warning that comes days after Tokyo intervened in the foreign exchange market to stem yen falls for the first time in more than two decades. Suzuki also told a news …

Japan warns against speculative yen moves, markets wary of further intervention Read More »