Reuters Asia Business

By Naveen Thukral and Rajendra Jadhav SINGAPORE/MUMBAI (Reuters) – Adverse weather across top rice suppliers in Asia, including the biggest exporter India, is threatening to reduce the output of the world’s most important food staple and stoke food inflation that is already near record highs. Rice has bucked the trend of rising food prices amid …

Analysis-Global rice supplies at risk as harsh weather hits top exporters Read More »

TAIPEI (Reuters) – Taiwan’s inflation cooled slightly in July, with the consumer price index (CPI) expanding 3.36% from a year earlier, and missed market expectations, providing some relief for central bank to raise interest rates. The pace slowed marginally from a 3.59% year-on-year reading for June, the highest in 14 years, the Directorate General of …

Taiwan consumer inflation cools slightly in July Read More »

(This Aug 4 story corrects milestone to February from January in paragraph 2) By Daniel Leussink TOKYO (Reuters) – Japan’s households increased spending for the first time in four months in June, as demand for travel services rose in a positive sign for broader recovery prospects. Spending jumped 3.5% in June from a year earlier, …

Japan’s households increase spending for first time in 4 months Read More »

By Lucy Raitano LONDON (Reuters) – Bond funds recorded their largest weekly inflow since late 2021 while equity funds were sold off, suggesting investors are becoming increasingly risk adverse against a darkening outlook for the global economy. Investors put $11.7 billion into bonds in the week to Wednesday – the biggest such inflow into fixed …

Jittery markets see bond funds enjoy largest weekly inflows since Nov 2021 Read More »

By Muyu Xu and Nidhi Verma (Reuters) – Spot prices for Russia’s key export crude grade ESPO Blend to Asia have rebounded from all-time lows amid strong demand from top buyers India and China and easing concerns about possible sanctions, several traders said. The crude exported from the Pacific port of Kozmino saw its spot …

Russian crude prices recover on strong India, China demand Read More »

HONG KONG (Reuters) – HSBC has appointed Sandeep Pahwa as head of capital financing and investment banking coverage for South Asia, according to a memo seen by Reuters. Pahwa was most recently with Barclays in Singapore where he was vice chairman and head of Southeast Asia investment banking, as well as APAC head of client coverage, the …

HSBC hires Pahwa for South Asia banking business Read More »

BEIJING (Reuters) – The Export-Import Bank of China has appointed Ren Shengjun as the president of the bank, according to a statement released by the bank on Friday. Ren previously worked at the Ministry of Finance. He also served China Taiping Insurance (HK) Company Limited as the company’s deputy general manager. (Reporting by Beijing Newsroom; …

Ren Shengjun appointed as president of China EXIM bank Read More »

By Stefanno Sulaiman and Gayatri Suroyo JAKARTA (Reuters) -Indonesia’s economic growth accelerated in the April-June quarter amid an export boom driven by rising commodity prices, official data showed on Friday, but monetary tightening, rising inflation and a global recession risk threaten the outlook. Second-quarter gross domestic product (GDP) was up 5.44% on a year earlier, …

Indonesian GDP growth accelerates in Q2, beats forecast Read More »

By Casey Hall SHANGHAI (Reuters) – Sanya, a top tropical holiday destination on China’s southern Hainan island, began closing its duty free malls on Friday in response to a worsening COVID-19 outbreak. Since China shut its international borders in early 2020 to curb the spread of COVID-19, Hainan’s duty-free industry has boomed, becoming a vital …

China’s Sanya holiday hotspot shuts duty-free malls, venues to curb COVID Read More »