Reuters Asia Business

By Xie Yu, Engen Tham and Julie Zhu HONG KONG/SHANGHAI (Reuters) – Some of China’s state-backed financial institutions are pushing back on Beijing’s calls to support the embattled property sector due to concerns about the impact of such exposure on their balance sheets, seven people with knowledge of the matter said. Without explicit financial backstop …

Exclusive-Some Chinese financiers cold shoulder Beijing’s property rescue call-sources Read More »

BEIJING (Reuters) – China’s commerce ministry said on Thursday it will take the measures needed to protect the legitimate rights of Chinese companies after the U.S. added seven Chinese entities, mostly related to aerospace, to its export control list. Commerce ministry spokesperson Shu Jueting made the comment at a news conference. (Reporting by Beijing Newsroom; …

China to take steps needed to protect Chinese firms following U.S. export control list Read More »

BEIJING (Reuters) -The sprawling Chinese region of Chongqing, home to several large global automakers, has extended power curbs at factories as a record heatwave and drought continue to wreak economic and environmental damage throughout the country’s southwest. Industrial firms were originally ordered to restrict output from Aug. 17 until Aug. 24, but formal curbs have …

China’s Chongqing extends power curbs as drought drags on Read More »

BANGKOK (Reuters) – Thailand’s oldest lender, SCBX Pcl said on Thursday it was pulling out of a $500 million deal to buy crypto exchange Bitkub, saying the startup needed time to fix regulatory issues. “Bitkub is currently in the process of resolving various issues as per the recommendations and orders of the Securities and Exchange …

Thai lender SCBX scraps $500 million acquisition of crypto exchange Bitkub Read More »

SEOUL (Reuters) – South Korea’s annual producer inflation slowed in July for the first time in five months, central bank data showed on Thursday. The Producer Price Index (PPI) rose 9.2% in July from the same month a year ago, slower than a revised 10.0% rise in June, which was the fastest since October 2008, …

S.Korea annual producer inflation slows for first time in 5 months Read More »

By Sheila Dang and Nivedita Balu (Reuters) – Twitter Inc is facing more employee departures, company executives told staff on Wednesday, as leaders sought to address multiple challenges, including whistleblower https://www.reuters.com/markets/deals/twitter-whistleblower-could-help-musk-by-adding-volatility-legal-battle-2022-08-23 allegations and a legal battle with billionaire Elon Musk. Employee attrition is currently 18.3%, Twitter executives told staff during a company-wide meeting, audio of …

Twitter staff exodus accelerates amid Musk battle, whistleblower complaint Read More »

(Reuters) -China’s industry ministry issued a notice on Wednesday to promote and optimise the development of the country’s photovoltaic industry, warning against market monopolies and encouraging development of power and storage projects. Due to supply and demand mismatches, severe price fluctuations, and hoarding in the supply chain of the photovoltaic industry, there is an “urgent …

China warns against monopolies, hoarding in photovoltaic industry Read More »