Reuters Asia Business

BEIJING/SHANGHAI (Reuters) -Ping An Insurance Group Co of China, China’s largest insurer by market value, reported a 3.9% rise in first half net profit, the first increase over this period in three years, a filing with the Hong Kong stock exchange showed on Tuesday. The group posted a net profit of 60.3 billion yuan ($8.81 …

Ping An Insurance profit rises 3.9% in first half Read More »

By Kane Wu and Makiko Yamazaki HONG KONG (Reuters) – Japan’s Olympus Corp is close to selling its microscope unit to a private equity firm in a deal that could fetch more than 300 billion yen ($2.2 billion), three people with direct knowledge of the matter told Reuters. Bain Capital has emerged as the frontrunner, …

Olympus nearing deal to sell microscope unit for over $2 billion – sources Read More »

SHENZHEN, China (Reuters) -The founder of China’s Huawei Technologies has told employees the company must shift its focus from pursuing scale to ensuring profits and cash flow as the global economy enters a long period of recession, media reported on Tuesday. “With survival the main principle, marginal businesses will be shrunken and closed, and the …

Founder of China’s Huawei urges focus on cash flow, survival in downturn – media Read More »

By Gayatri Suroyo and Fransiska Nangoy JAKARTA (Reuters) -Indonesia’s central bank raised its benchmark interest rate for the first time since 2018 on Tuesday, stepping up monetary tightening to fight rising inflation and stabilise the rupiah. Southeast Asia’s largest economy has made a steady recovery from pandemic disruptions and benefitted from strong global demand for …

Indonesia central bank hikes rates for first time since 2018 to temper inflation Read More »

KUALA LUMPUR (Reuters) – Malaysia’s top court ordered former prime minister Najib Razak to begin a 12-year prison sentence on Tuesday after rejecting his appeal against a conviction on charges related to a multi-billion dollar graft scandal at state fund 1Malaysia Development Berhad (1MDB). The following are details of the scandal and cases brought against …

Explainer-Malaysia’s ex-PM Najib and the multi-billion dollar 1MDB scandal Read More »

SHANGHAI (Reuters) – Juneyao Group, the parent of Chinese carrier Juneyao Airlines, plans to start making electric vehicles (EV), two people with knowledge of the matter said, as it seeks to diversify from businesses that have been hit hard by COVID. Shanghai-based Juneyao, owned by Chinese billionaire Wang Junjin, his brother and nephew, is setting …

Chinese airline owner Juneyao Group plans to enter booming EV market -sources Read More »

SEOUL (Reuters) – South Korean consumers’ inflation expectations fell in August after six months of rises, a central bank survey showed on Tuesday, while their assessment of economic conditions improved. The median of inflation expectations for the next 12 months fell to 4.3% in August from 4.7% in July, which was the highest since the …

S.Korean inflation expectations fall in August after 6 months of gains – survey Read More »