Reuters Asia Business

SINGAPORE (Reuters) – U.S. investment bank Raine Group has tapped Jonathan Pflug, Morgan Stanley’s head of Southeast Asia M&A, to lead its coverage in Southeast Asia, two sources familiar with the matter said on Monday. Morgan Stanley and Raine did not immediately reply to Reuters questions about the move. Singapore-based Pflug, a managing director at …

Morgan Stanley’s Southeast Asia M&A chief to head Raine’s Southeast Asia coverage-sources Read More »

By Marc Jones LONDON (Reuters) – The world’s central bank umbrella body, the Bank for International Settlements (BIS), has urged major economies to forge ahead with forceful interest rate hikes despite the growing threat of recessions and currency market volatility. The Switzerland-based BIS’ quarterly report acknowledged that both recession and debt risks were rising, but …

BIS backs “forceful” rate hikes despite rising recession risk Read More »

SHANGHAI (Reuters) – Tesla said on Monday that it is still expanding its sales channels in China at a normal pace, in response to a Reuters report saying it was considering closing some city centre showrooms in its second largest market. Reuters reported on Thursday that the U.S. automaker was considering closing some showrooms in …

Tesla says China sales channel expansion proceeding at normal pace Read More »

SHANGHAI (Reuters) -China’s yuan ended at a fresh 26-month low on Monday and traded below the psychologically critical 7-per-dollar level, pressured by bets for another big rate hike from the U.S. Federal Reserve later this week. The onshore yuan finished the domestic trading session at 7.0179 per dollar, its weakest close since July 14, 2020, …

China’s yuan ends at new 26-month low in busy week for global cenbank meetings Read More »

HONG KONG (Reuters) – Hong Kong’s seasonally adjusted unemployment rate eased to 4.1% in the June-August quarter, improving for the fourth consecutive period as economic activities revived in an easing COVID situation and support from a consumption voucher scheme, the government said on Monday. In the May-July period, the unemployment rate stood at 4.3%. “The …

Hong Kong’s June-August unemployment eases to 4.1%, outlook improving Read More »

BEIJING (Reuters) -China will speed up fund injections to expedite project construction and boost domestic consumption, China’s state planner said on Monday, even after the economy showed signs of renewed momentum last month. The world’s second-biggest economy slowed sharply in the second quarter, dragged down by a deepening property crisis, and slowing exports and imports. …

China to accelerate projects, boost consumption to spur recovery Read More »

TAIPEI (Reuters) – Taiwan’s central bank is expected to raise its policy rate again this week at the same, relatively mild pace as before, according to economists polled by Reuters, with economic growth, exports and inflation all slowing. The central bank is likely to lift the benchmark discount rate by 12.5 basis points to 1.625% …

Taiwan set for mild interest rate rise with economy, inflation slowing – Reuters poll Read More »

BANGKOK (Reuters) – Thailand expects to earn 2.38 trillion baht ($64.50 billion) in tourism revenue in 2023, a government official said on Monday. The government wants tourism next year to reach 80% of its 2019, pre-pandemic level, as the key growth sector is starting to see a recovery as the pandemic eases, said government spokesperson …

Thailand expects $64.5 billion in 2023 tourism revenue -govt spox Read More »

SHANGHAI (Reuters) – China is expected to keep lending benchmarks unchanged this week, a poll of market participants showed, with authorities seen holding off monetary easing in the short-term to avoid more depreciation pressure on the currency. The loan prime rate (LPR), which banks normally charge their best clients, is set by 18 designated commercial …

China set to keep lending benchmarks unchanged amid yuan pressure Read More »