Reuters Asia Business

SINGAPORE (Reuters) – Shell said on Friday it will set up a joint venture with China’s Shenergy Group to build a hydrogen refuelling network in Shanghai, the first of its kind for the European energy major in Asia. The joint venture plans to build six to 10 hydrogen refuelling stations in Shanghai and the surrounding …

Shell sets up venture to build Shanghai hydrogen refuelling network Read More »

By Roger Tung TAIPEI (Reuters) -Taiwan’s economy grew at its slowest pace in two years in the second quarter and performed slightly worse than expected, hit by supply chain woes and a surge in domestic COVID cases, with the outlook for exports clouded by signs of a global slowdown. For the April-June period, annual gross …

Taiwan Q2 GDP grows at slowest in two years on China lockdowns, COVID Read More »

BEIJING (Reuters) -Financial authorities in China’s central Henan and eastern Anhui provinces on Friday announced a third round of repayments, starting Aug. 1, to clients of five rural banks whose funds were frozen in what authorities said was a complex scam. Individuals with deposits of between 100,000 yuan ($14,787) and 150,000 yuan at four lenders …

China’s Henan, Anhui provinces to make more repayments to rural bank scandal victims Read More »

By Makiko Yamazaki TOKYO (Reuters) – Japan’s Sumitomo Mitsui Financial Group Inc reported a bigger-than-expected increase in first-quarter net profit thanks to improved economic conditions, while higher credit costs weighed on rival Mizuho Financial Group Inc. Sumitomo Mitsui, Japan’s second-largest lender, said demand for loans is coming back in commercial and industrial lending, as well …

Japan’s Sumitomo Mitsui reports Q1 profit jump, Mizuho suffers drop Read More »

By Sam Nussey TOKYO (Reuters) – Japan’s Sony Group Corp on Friday trimmed its full-year profit forecast due to an expected weaker performance at its key gaming unit, which posted a steep drop in first-quarter operating profit as consumer interest in gaming waned. Sony’s gaming business showed a 37% fall in profit in the April …

Sony trims profit forecast as gaming performance drags Read More »

By Anshuman Daga and Lawrence White SINGAPORE/LONDON (Reuters) -Standard Chartered’s first-half pre-tax profit rose 19% and beat market expectations, as the emerging markets-focused lender benefitted from rising interest rates and issued an upbeat post-COVID outlook, pushing its shares 3.7% higher. The strong performance unveiled on Friday showed how some banks with a focus on Asia …

StanChart cheers investors with $500 million share buyback, 19% profit jump Read More »

TOKYO (Reuters) – It goes a step too far to say a weak yen is the main reason for explaining why prices in Japan are rising, Asian Development Bank (ADB) President Masatsugu Asakawa said on Friday. The major factors for the price rises that Japan is seeing are pandemic supply chain disruptions and surging food …

Japan’s inflation not mainly caused by weak yen, ADB’s Asakawa says Read More »

By Mimosa Spencer PARIS (Reuters) -Sales at Birkin bag maker Hermes rose sharply in the second quarter, lifted by fast growth in Europe and the United States, and rebounding strongly in China in June. Following lockdowns in China in April and May the French leather goods company, which is also known for its silk scarves …

Hermes flags strong rebound in China, posts record margin Read More »