Reuters Asia Business

SHANGHAI (Reuters) – China’s central bank is widely expected to keep unchanged the borrowing costs on its medium-term policy loans for the sixth consecutive month on Friday, a Reuters survey showed. Aggressive global monetary tightening and higher domestic inflationary pressure have limited room for further easing, and analysts and traders believe China’s central bank is …

China seen keeping medium-term policy rate unchanged for a sixth month Read More »

By Clare Jim and Xie Yu HONG KONG (Reuters) – Chinese banks are set to take a hit to asset quality from mortgage business as growing numbers of homebuyers threaten to stop loan repayments to protest against unfinished apartments, analysts said. The mortgage bad-loan ratios for banks could rise three- to five-fold as a result …

China property protests threaten to dent $220 billion of banks’ mortgage loans Read More »

By Enrico Dela Cruz, Karen Lema and Neil Jerome Morales MANILA (Reuters) -The Philippine central bank raised its key interest rates by 75 basis points in a surprise move on Thursday and kept the door open for further tightening as it rushed to contain broadening inflationary pressure and rescue a faltering peso. Implemented outside the …

Philippine central bank hastens interest rate rise, ready for more action Read More »

TAIPEI (Reuters) -Taiwan’s Foxconn, the world’s largest contract electronics maker, would need Taiwanese government permission if its unit were to invest in embattled Chinese chip conglomerate Tsinghua Unigroup, a government official said on Thursday. Taiwan media has reported that Foxconn’s China-listed unit Foxconn Industrial Internet Co Ltd plans to spend 9.8 billion yuan ($1.46 billion) …

Taiwan says Foxconn needs govt approval for any China chip firm investment Read More »

By Andrea Shalal and Asif Shahzad NUSA DUA, Indonesia (Reuters) -The International Monetary Fund (IMF) on Thursday said it had reached a staff-level agreement with Pakistan that would pave the way for disbursement of $1.17 billion, if approved by the IMF board, and was considering topping up the programme. In a statement, the IMF said …

IMF reaches staff-level accord with Pakistan to disburse $1.17 billion Read More »

(Reuters) – Panasonic Holdings Corp will invest several billion dollars in a factory in Kansas to supply a new high-capacity battery for Tesla’s electric vehicles, Nikkei reported https://s.nikkei.com/3c4Fr45 on Wednesday. The report came after Tesla Chief Executive Elon Musk said it was having difficulty in boosting the production of its so-called 4680 batteries, which are …

Panasonic to build EV battery plant for Tesla in Kansas -Nikkei Read More »