Reuters Asia Business

(Reuters) – Dozens of non-governmental organizations (NGOs) have sent an open letter to Elon Musk, urging the Tesla Inc’s chief to not invest in Indonesia’s nickel industry on environmental concerns. The letter by the NGOs, including Wahana Lingkungan Hidup Indonesia (WALHI) and Friends of the Earth United States, follows Indonesian President Joko Widodo’s meeting with …

NGOs ask Musk to not invest in Indonesia’s nickel industry over environmental worries Read More »

By Jane Lanhee Lee and Stephen Nellis OAKLAND, Calif (Reuters) – U.S. chipmaker Intel Corp said on Monday it will produce chips for Taiwan’s MediaTek Inc, one of the world’s largest chip design firms. The manufacturing arrangement is one of the most significant deals Intel has announced since it launched its so-called foundry business early …

Intel to produce Taiwanese company MediaTek’s chips Read More »

By Yew Lun Tian BEIJING (Reuters) – Sri Lanka has asked China to help with trade, investment and tourism to help it grow sustainably, Colombo’s envoy to Beijing said on Monday as it negotiates for an emergency $4 billion package to help it emerge from an economic meltdown. The island nation of 22 million people …

Sri Lanka asks China for help with trade, investment and tourism Read More »

TOKYO (Reuters) – The Bank of Japan’s new board member Naoki Tamura said on Monday an exit from the central bank’s ultra-easy monetary policy will become a focus of discussion once wages begin to rise in tandem with inflation. “Only when the BOJ can normalise monetary policy and exit can it describe its massive monetary …

BOJ new board member says exit from easy policy will become focus if wages rise Read More »

By Daniel Leussink TOKYO (Reuters) – Japan’s government slashed its economic growth forecast for this fiscal year largely due to slowing overseas demand, highlighting the impact of Russia’s war in Ukraine, China’s strict COVID-19 lockdowns and a weakening global economy. The forecast, which serves as a basis for compiling the state budget and the government’s …

Japan slashes fiscal year GDP growth f’cast to 2.0% on global demand slump Read More »

TOKYO (Reuters) – Toyota Motor Corp has cancelled some orders of the Harrier sports utility vehicle due to production disruption caused by the COVID-19 lockdown in Shanghai, the Nikkei business daily reported on Monday. Customers are being asked to switch their orders to the improved Harrier, which will be released as early as September, the …

Toyota cancels Harrier SUV orders due to production delay – Nikkei Read More »

BEIJING/HONG KONG (Reuters) -China will launch a real estate fund to help property developers resolve a crippling debt crisis, aiming for a warchest of up to 300 billion yuan ($44 billion) in a bid to restore confidence in the industry, according to a state bank official with direct knowledge of the matter. The move would …

China plans real estate fund worth up to $44 billion for distressed sector -source Read More »

By Clare Jim HONG KONG (Reuters) – China Evergrande Group, the world’s most indebted developer, is expected to announce this week a debt restructuring plan that will not only determine its future but also indicate how Beijing plans to overcome a deepening property sector crisis. With more than $300 billion in debt, Evergrande has been …

Evergrande’s debt revamp to provide roadmap on tackling China property crisis Read More »