Reuters Asia Business

By Gayatri Suroyo and Ananda Teresia JAKARTA (Reuters) -Indonesia’s newly-launched state farm company plans to invest 8 trillion rupiah ($479 million) until the end of next year to build production capacity by buying modern farm equipment and adding rice mills, its chief executive said on Tuesday. Launched in May with the task of boosting rice …

Indonesia’s state farm company to invest nearly $500 million to boost rice output Read More »

By Sethuraman N R NEW DELHI (Reuters) -India’s private coal power producers have urged the government to allow equipment imports from China, saying domestic resources are insufficient and costly, as the country seeks to expand its generation from coal, industry and government sources said. In 2021, India’s Ministry of Power mandated the use of homemade …

India’s private coal power firms urge easing of China equipment curbs, sources say Read More »

JAKARTA (Reuters) -Indonesia’s finance minister Purbaya Yudhi Sadewa said on Tuesday the country’s GDP is expected to grow by more than 5.5% in the fourth quarter. The growth is expected to be driven by a wide range of sectors as the government injects liquidity into the economy, he said. (Reporting by Stefanno SulaimanWriting by Fransiska …

Indonesia Q4 GDP growth seen above 5.5%, finance minister says Read More »

By Orathai Sriring and Thanadech Staporncharnchai BANGKOK (Reuters) -Thailand’s gold trade is pushing back against central bank plans for a tax aimed at curbing a currency rally, warning the measure would hammer businesses and undermine the Southeast Asian nation’s role as a major trading hub for the metal. Strength in the baht currency, now hovering …

Thai gold industry opposes tax on trading amid currency rally Read More »

By Francesco Guarascio HANOI (Reuters) -Trayton Group signed a deal to relocate most of its furniture production to Vietnam from China the day after Donald Trump was re-elected as U.S. President. New U.S. tariffs would not change the strategy, its head told Reuters. The mid-sized manufacturer, which declined to disclose its revenues, ships 70% of …

Staying put in Vietnam, furniture exporters bet US consumers will absorb tariff blow Read More »

SEOUL (Reuters) -South Korea’s foreign exchange authorities sold a net $800 million in currency market intervention transactions in the second quarter, after selling $2.96 billion in the first quarter, central bank data showed on Tuesday. It was the third consecutive quarter authorities sold dollars to curb losses in the won. In the second quarter, the …

Bank of Korea sold net $800 million for FX intervention in Q2 Read More »

JAKARTA (Reuters) -Indonesia’s trade surplus likely narrowed to $4 billion in August, as exports shrank while imports remained in contraction, a Reuters poll showed on Tuesday. In July, the surplus was at $4.18 billion, supported by strong shipments of palm oil products and machinery. Southeast Asia’s largest economy has recorded a back-to-back monthly trade surplus …

Indonesia trade surplus seen shrinking to $4 billion in August: Reuters poll Read More »

SINGAPORE (Reuters) -Cryptocurrency exchange OKX said on Tuesday it has launched a service allowing its customers to make payments in stablecoins to merchants on ride-hailing operator Grab’s payments platform in Singapore. This marks the first time that GrabPay merchants in the city-state will accept direct stablecoin payments, highlighting the increasing adoption of the digital asset …

OKX Singapore launches stablecoin payments at local GrabPay merchants Read More »