Reuters Asia Business

By Ananda Teresia JAKARTA (Reuters) -Indonesia may raise fuel prices by 30% to 40% to manage fiscal pressure from a ballooning subsidy budget, three lawmakers from parliament’s energy committee told Reuters on Friday. The information came from a closed-door meeting with state oil company Pertamina earlier this week, they said. Southeast Asia’s largest economy has …

Indonesia considering hiking fuel prices as much as 40% -lawmakers Read More »

KUALA LUMPUR (Reuters) – Malaysia’s government will present its budget for 2023 to parliament on Oct. 7, earlier than originally scheduled, news portal Malaysiakini reported on Friday, citing the country’s law minister Wan Junaidi Tuanku Jaafar. The budget was previously scheduled to be tabled on Oct. 28. A spokesperson for Wan Junaidi told Reuters the …

Malaysia brings forward 2023 budget to Oct 7 – report Read More »

BEIJING (Reuters) -Chinese food delivery company Meituan on Friday posted a better-than-expected 16.4% rise in quarterly revenue from a year earlier, despite a resurgence of COVID-19 cases in China. Revenue rose to 50.94 billion yuan ($7.42 billion) for the quarter ended in June, beating the 48.59 billion yuan expected on average by 14 analysts, Refinitiv …

China’s Meituan posts 16.4% jump in Q2 revenue, beats estimate Read More »

BEIJING (Reuters) – China central bank said on Friday that it will allow more foreign banks to get cheap funding via its carbon emission reduction supporting tool. The People’s Bank of China (PBoC) said in a statement that Chinese units of Deutsche Bank and Societe Generale have been allowed to use the tool. China’s central …

China’s central bank to allow more foreign banks to tap carbon emission reduction tool Read More »

(Reuters) -Smartphone maker Xiaomi Corp is eyeing an electric vehicle (EV) production tie-up with Beijing Automotive Group Co (BAIC), as it faces delays in acquiring a licence to make cars on its own, Bloomberg News reported on Friday. Such partnership among EV startups and traditional carmakers has become increasingly common in China, as state planners …

Xiaomi in talks with BAIC to produce electric cars -Bloomberg News Read More »

BANGKOK (Reuters) – Thailand’s exports in July rose at their slowest pace in more than a year as global economic growth slowed and supply chain disruptions increasingly affected shipments of industrial goods, the commerce ministry said on Friday. Exports, a key driver of Thai growth, increased 4.3% in July from a year earlier, far below …

Thai July export growth slowest in 17 months, misses forecast Read More »

By Tom Hals WILMINGTON, Del. (Reuters) -Elon Musk’s demands for Twitter Inc user details were rejected as “absurdly broad” by a judge on Thursday, although the billionaire will get some data as he pursues his bid to end his $44 billion acquisition of the company. Chancellor Kathaleen McCormick of Delaware’s Court of Chancery said many …

Elon Musk’s ‘absurdly broad’ Twitter data requests mostly rejected by judge Read More »

By David Shepardson WASHINGTON (Reuters) -Global shipping container suppliers China International Marine Containers and Maersk Container Industry in a joint statement on Thursday said they have abandoned a merger plan, citing significant regulatory challenges. China International Marine Containers (CIMC) in September had agreed to buy the Danish shipping company AP Moeller – Maersk’s refrigerated containers …

Shipping container suppliers abandon $987 million deal after U.S. probe Read More »