Reuters Asia Business

TAIPEI (Reuters) -Taiwan looks forward to producing “democracy chips” with the United States, President Tsai Ing-wen told the visiting governor of the U.S. state of Arizona, Doug Ducey, on Thursday, the latest in a string of senior officials from the county to visit. Taiwan has been keen to show the United States, its most important …

Taiwan president says she looks forward to producing ‘democracy chips’ with U.S Read More »

By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka has reached a preliminary agreement with the International Monetary Fund (IMF) for a loan of about $2.9 billion, the global lender said on Thursday, as the country seeks a way out its worst economic crisis in decades. The agreement, which Reuters first reported on Wednesday, is subject to …

Sri Lanka gains IMF’s provisional agreement for $2.9 billion loan Read More »

ISLAMABAD (Reuters) – Pakistan’s consumer price index (CPI) surged to a multi-decade high of 27.3% in August from a year earlier, government data showed on Thursday, as authorities warn massive flooding in the country could exacerbate already skyrocketing prices. Price rises in staples, including vegetables, wheat and cooking oil led the high inflation, the Pakistan …

Pakistan CPI inflation hits multi-decade high 27.3% on year in August Read More »

BEIJING (Reuters) – A U.S. move to stop Nvidia Corp from selling top artificial intelligence chips to China undermines the legitimate rights and interests of Chinese companies and the stability of global industrial and supply chains, Chinese Commerce Ministry spokesperson Shu Jueting told a regular news conference on Thursday. Chip designer Nvidia Corp said on …

China opposes U.S. move barring Nvidia from selling it high-end chips Read More »

BEIJING (Reuters) – Two former financial regulating officials in northeast China’s Liaoning province have been expelled from the Communist Party and dismissed from public office for bribery and corruption, China’s banking and insurance regulator said on Thursday. One of the officials is Zheng Weihong, a former head of banking and insurance regulator in Liaoyang city. …

Two Chinese financial officials in Liaoning province expelled from Communist party Read More »

SEOUL (Reuters) -South Korea might raise concerns over the U.S. Inflation Reduction Act’s potential impact on its automakers at a meeting between the countries’ top security advisers this week, Seoul’s presidential office said on Thursday. South Korea’s national security adviser Kim Sung-han is slated for meetings in Hawaii with his U.S. and Japanese counterparts chiefly …

S.Korea could raise concerns over U.S. EV subsidy changes this week Read More »

By Stefanno Sulaiman and Gayatri Suroyo JAKARTA (Reuters) – Indonesia’s inflation rate eased more than expected in August, official data showed on Thursday, but economists said the rate is set to accelerate and more interest rate increases are likely amid expectation of a fuel price hike. President Joko Widodo has been considering raising subsidised fuel …

Indonesia inflation eases in Aug, but pressure seen from fuel price hike Read More »

SINGAPORE (Reuters) – Standard Chartered and FairPrice Group on Thursday rolled out their digital bank focusing on Singapore’s retail segment, a move that comes on the heels of digital bank launches by GXS Bank and China’s Ant Group in the affluent city-state. The companies unveiled Trust Bank — owned 60% by the London-headquartered lender and …

Standard Chartered rolls out digital bank in hot Singapore market Read More »