Reuters Asia Business

Philippine bourse sees firms raising $3.6 billion on capital markets this year

13 Aug 2022

MANILA (Reuters) – The Philippine stock exchange operator expects companies to raise 200 billion pesos ($3.6 billion) on the capital markets this year on a robust pipeline of listings and share sales, despite market volatility, its president said on Saturday. Philippine firms, including renewable energy companies, are pursuing expansion plans this year, banking on an …

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Global stocks rise, U.S. yields fall as inflation slows

12 Aug 2022

By Chibuike Oguh NEW YORK (Reuters) – Global equity markets rose while U.S. Treasury yields fell on Friday as investors tempered their expectations of the scale of the Federal Reserve’s interest rate raising cycle as falling oil prices helped to cool inflation. Market sentiment has been buoyed by U.S. Labor Department data this week showing …

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Stronger dollar down for the week as clues point to inflation peak

12 Aug 2022

By John McCrank NEW YORK (Reuters) -The dollar rallied on Friday but was set for a weekly drop as traders weighed improving U.S. inflation data against comments from Federal Reserve officials who cautioned the battle against rising prices was far from over. U.S. import prices declined for the first time in seven months in July …

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Oil falls 2% on expectations that U.S. Gulf supply disruption will ease

12 Aug 2022

By Stephanie Kelly NEW YORK (Reuters) -Oil prices plunged around 2% on Friday, on expectations that supply disruptions in the U.S. Gulf of Mexico would be short-term, while recession fears clouded the demand outlook. Futures, however, were still on track for a weekly gain. Brent crude futures fell $1.45, or 1.5%, to settle at $98.15 …

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Mazda seeks to reduce dependence on Chinese supplies after COVID lockdowns

12 Aug 2022

TOKYO (Reuters) – Japan’s Mazda Motor Corp said on Friday it would ask its parts suppliers to increase stockpiles in Japan and produce components outside China after COVID-19 lockdowns in Shanghai destabilised supply and hampered production. The request from the Hiroshima-based automaker underscores the vulnerability of sprawling supply chains that have been tested by the …

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Five Chinese state-owned companies, under scrutiny in U.S., will delist from NYSE

12 Aug 2022

SHANGHAI/HONG KONG/NEW YORK (Reuters) -Five U.S.-listed Chinese state-owned companies whose audits are under scrutiny by the U.S. securities regulator said on Friday they would voluntarily delist from the New York Stock Exchange. Oil giant Sinopec and China Life Insurance, Aluminium Corporation of China (Chalco), PetroChina and a separate Sinopec entity, Sinopec Shanghai Petrochemical Co, each …

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Ukraine’s creditors agree 2-year freeze on $20 billion overseas debt

12 Aug 2022

(This August 10 story corrects paragraph 8 to show that JPMorgan had been appointed as sole solicitation agent .. not.. to keep the records of the consent solicitation) By Jorgelina do Rosario, Rodrigo Campos and Karin Strohecker LONDON/NEW YORK (Reuters) – Ukraine’s overseas creditors backed its request for a two-year freeze on payments on almost …

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Asian demand for beef to remain strong as per-capita consumption still low – JBS

12 Aug 2022

By Ana Mano SAO PAULO (Reuters) -JBS SA, the world’s largest meatpacker, is bullish on the outlook for beef sales to Asian countries, mainly China, as per-capita beef consumption in the region remains low. Speaking on a conference call to discuss second-quarter results, Chief Executive Gilberto Tomazoni said JBS, with its many export platforms, was …

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Taiwan revises down 2022 GDP growth forecast on inflation woes

12 Aug 2022

By Roger Tung and Jeanny Kao TAIPEI (Reuters) -Taiwan’s economy is likely to grow at a slower pace this year that initially forecast, the statistics office said on Friday, lowering its outlook due to global inflation and slowing consumer demand in major markets. The downward revision was accompanied by the statistics office trimming its export …

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Exclusive-Malaysia’s Tenaga plans $1 billion IPO for power business, sources say

12 Aug 2022

SINGAPORE (Reuters) – Malaysian electricity utility Tenaga Nasional Bhd plans to set begin the process next year for a potential $1 billion listing of its power generation business, sources close to the matter told Reuters. In what would be the country’s largest initial public offering (IPO) in a decade, TNB Power Generation Sdn Bhd, known …

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