Reuters Asia Business

Doctors, bankers protest ‘impossible situation’ as Sri Lanka runs out of fuel

29 Jun 2022

By Uditha Jayasinghe COLOMBO (Reuters) -Doctors and bankers were among hundreds of Sri Lankans who marched on Wednesday to demand the government resolve a severe fuel shortage at the heart of the Indian Ocean island’s worst economic crisis in decades or step down. Weeks of street demonstrations against cascading woes such as power cuts and …

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Manulife bids for full control of China fund JV, lured by $3.8 trln mkt -sources

29 Jun 2022

By Selena Li and Samuel Shen HONG KONG/SHANGHAI (Reuters) -Canada’s Manulife Financial Corp moved closer toward taking full control of its funds joint venture in China after regulators there accepted an application for the ownership change, two sources with knowledge of the matter told Reuters. Manulife, Canada’s largest life insurer, is seeking to bolster its …

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Stocks mostly slip, yields ease in wake of Powell inflation comments

29 Jun 2022

By Caroline Valetkevitch NEW YORK (Reuters) – Stocks on global indexes mostly edged lower and Treasury yields eased on Wednesday as investors weighed comments by Federal Reserve Chairman Jerome Powell, who said there is a risk the U.S. central bank’s interest rate hikes will slow the economy too much, but the bigger risk is persistent …

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JD.com to issue shares worth $220 million to Tencent for WeChat access

29 Jun 2022

(Reuters) -China’s JD.Com Inc said on Wednesday it would issue shares worth $220 million to investor Tencent Holdings Inc over a three-year period to access certain services on the latter’s WeChat platform. The deal follows Tencent’s sale of a $16.4 billion stake in JD.com to Walmart Inc last year and extends an existing partnership with …

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Analysis-Easing COVID-19 rules, growth focus aid China bulls’ cautious return

29 Jun 2022

By Xie Yu HONG KONG (Reuters) – The latest easing of coronavirus travel rules combined with other encouraging policy signals have began luring some foreign investors back to Chinese stocks, raising the chances that the market can sustain its bounce after months of heavy selling. As the S&P 500 is about to close its worst …

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LG Energy signs battery-grade lithium supply deal with Compass Minerals

29 Jun 2022

(Reuters) – South Korean battery maker LG Energy Solutions (LGES) said on Wednesday it had entered into a non-binding deal for battery-grade lithium supply with Compass Minerals while negotiations for a final agreement were ongoing. Prices of battery metals including lithium, cobalt and nickel have rallied to multi-year highs due to red-hot demand for electric …

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Toyota misses May production target in third monthly shortfall

29 Jun 2022

By Satoshi Sugiyama TOKYO (Reuters) -Toyota Motor Corp’s global production for the first five months of 2022 fell 9.7% short of its own target on average, raising questions about whether the Japanese automaker will be able to maintain its current target for the year. The world’s largest automaker by sales said it produced 634,940 vehicles …

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S.Korean office workers hit convenience stores as ‘lunch-flation’ bites

29 Jun 2022

By Jihoon Lee SEOUL (Reuters) – Office worker Park Mi-won had never bought her lunch from a convenience store, until her favourite lunch buffet recently raised prices by more than 10% to 9,000 won ($7) as South Korean inflation soared to a 14-year high. “After the price rise, I went to convenience stores instead, where …

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Tianqi Lithium aims to raise up to $2 billion in Hong Kong listing -sources

29 Jun 2022

By Scott Murdoch and Julie Zhu HONG KONG (Reuters) -China’s Tianqi Lithium Corp will sell its shares for between HK$69 and HK$82 ($8.79-$10.45) each for a Hong Kong listing which could raise up to $2 billion, said two sources with direct knowledge of the matter. Tianqi, one of the world’s top producers of lithium chemicals …

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