Reuters Asia Business

LONDON (Reuters) – Analysts at JPMorgan put an ‘underweight’, or sell sign, on international emerging market sovereign debt on Friday due to the global economic slowdown and ongoing rise in interest rates and the dollar. The lender, viewed as one of the world’s most influential investment banks, said the premiums investors demand to hold EM …

JPMorgan puts sell sign on emerging market government debt Read More »

SHANGHAI (Reuters) – Chinese battery maker Contemporary Amperex Technology Co’s Yibin plant, which mainly supplies battery cells to Tesla Shanghai, said it is operating in compliance with COVID-19 control measures required by local government. The Yibin plant is operating under a so-called closed-loop management that required workers to sleep near production lines and out of …

CATL’s battery unit operates in compliance with COVID curbs Read More »

By Aditya Kalra and Munsif Vengattil NEW DELHI (Reuters) -Tencent-backed Indian music streaming app Gaana has switched to a paid subscription model to avoid closing down after failing to secure fresh funds or find a buyer, according to an email sent to some music partners seen by Reuters. Gaana, also backed by India’s Times Internet, …

Exclusive-Fighting to survive, Tencent-backed Indian music app Gaana turns to subscriptions Read More »

FRANKFURT (Reuters) – Chinese battery manufacturer SVOLT Energy Technology on Friday unveiled plans to build an additional cell assembly in Germany to supply electric vehicles, picking the state of Brandenburg – also home to Tesla’s gigafactory – as a location. The planned site in Lauchhammer would have a capacity of 16 gigawatt hours (GWh) per …

China’s SVOLT picks same German state as Tesla for second battery cell plant Read More »

By Muyu Xu SINGAPORE (Reuters) – Oil demand in China, the world’s biggest energy consumer, could contract for the first time in two decades this year as Beijing’s zero-COVID policy keeps people at home during upcoming holidays and reduces fuel consumption. Hundreds of millions of Chinese who typically hit the roads and domestic flights during …

China oil demand may shrink first time since 2002 as COVID curbs bite Read More »

By Muyu Xu SINGAPORE (Reuters) – Oil demand in China, the world’s biggest energy consumer, could contract for the first time in two decades this year as Beijing’s zero-COVID policy keeps people at home during upcoming holidays and reduces fuel consumption. Hundreds of millions of Chinese who typically hit the roads and domestic flights during …

China oil demand may shrink first time since 2002 as COVID curbs bite Read More »

BEIJING (Reuters) – New bank lending in China rose less than expected in August, while broad credit growth slowed, as COVID flare-ups and a deepening property crisis weigh heavily on the economy despite the central bank’s efforts to stimulate demand. Banks extended 1.25 trillion yuan ($180.63 billion) in new yuan loans in August, up from …

China’s Aug new bank loans rise less than expected, credit growth slows Read More »

(Corrects milestone of the trade deficit size to ‘nearly’, not ‘more than’, nine years, in paragraph 1, headline) By Kantaro Komiya TOKYO (Reuters) – Japan likely recorded its biggest trade deficit in nearly nine years in August as the yen’s plunge to 24-year-lows swelled import costs, a Reuters poll showed on Friday. The sharp slump …

Japan Aug trade deficit seen at near 9-year high as weak yen boosts imports – Reuters poll Read More »

By Scott Murdoch and Julie Zhu HONG KONG (Reuters) -Chinese electric vehicle maker Zhejiang Leapmotor Technology has shelved a plan to raise $1.5 billion through an initial public offering (IPO) in Hong Kong because of lukewarm investor interest, said two sources with direct knowledge of the matter. Bankers and advisers had hoped a deal of …

Exclusive-China EV maker Leapmotor puts off $1.5 billion Hong Kong IPO -sources Read More »