Reuters Asia Business

By Foo Yun Chee BRUSSELS (Reuters) – Chinese-owned short video-sharing app TikTok has agreed to boost European Union users’ rights, EU regulators said on Tuesday, averting possible sanctions in a case sparked by multiple complaints from consumer groups in the bloc. The European Consumer Organisation (BEUC) in its 2021 complaint said TikTok, which has seen …

TikTok to boost EU consumers’ rights, averts possible sanctions Read More »

By Samuel Indyk and Gertrude Chavez-Dreyfuss LONDON/NEW YORK (Reuters) – The Japanese yen plunged against the U.S. dollar on Tuesday to its lowest level since October 1998, as the Bank of Japan’s ultra-loose monetary policy was in stark contrast with an aggressive Federal Reserve determined to stamp out soaring inflation. The yen dropped to a …

Yen sinks to fresh 24-year low vs U.S. dollar Read More »

By Josh Ye HONG KONG (Reuters) – Chinese video platform Bilibili has launched a paywall for some of its videos as the company, bruised by Beijing’s sweeping crackdown on the tech industry, looks to diversify its revenue sources. The Shanghai-based company, sometimes referred to as China’s answer to YouTube, has started to feature premium videos …

China’s Bilibili launches paywall as it seeks new revenue source Read More »

HONG KONG (Reuters) – Hong Kong’s de-facto central bank bought HK$9.577 billion ($1.22 billion) from the market on Tuesday to stop the local currency weakening and breaking its peg to the U.S. dollar, a HKMA spokesman said. The Hong Kong dollar is pegged in a tight band of between 7.75 and 7.85 to the U.S. …

HKMA buys HK$9.58 billion from market as local currency hits weak end of trading range Read More »

By Neil Jerome Morales MANILA (Reuters) – Philippine ports and gaming tycoon Enrique Razon on Tuesday launched an up to 28 billion pesos ($515 million) initial public offering (IPO) for his infrastructure and energy holding firm, according to a corporate filing. The IPO of Prime Infrastructure Capital Inc could be the country’s largest this year, …

Philippine tycoon Razon eyes $515 million Prime Infrastructure IPO Read More »

SINGAPORE (Reuters) – Singapore will introduce a S$1.5 billion ($1.08 billion) support package for mainly lower-income groups to help mitigate increased living costs from inflation and rising energy prices, its finance minister said on Tuesday. The plan is tilted towards low-income groups but will include rebates to all Singaporean households in the city-state of 5.5 …

Singapore announces $1.08 billion support package to handle soaring prices Read More »

By Supantha Mukherjee STOCKHOLM (Reuters) – Swedish telecom equipment maker Ericsson said on Tuesday it expects global 5G mobile subscriptions to surpass 1 billion in 2022, helped by higher adoption in China and North America. A weaker global economy and the uncertainties caused by Russia’s invasion of Ukraine lowered its estimate for 2022 by around …

Ericsson expects 5G subscriptions to cross 1 billion in 2022 Read More »

BANGKOK (Reuters) – Thailand’s finance minister said on Tuesday he had asked the central bank to reduce the impact of any interest rate hike, ensure there was enough liquidity in the banking system and ensure the baht currency remains stable. Arkhom Termpittayapaisith told reporters the central bank had said it would take care of growth …

Thai central bank asked to ease impact of any rate hikes – Finance Minister Read More »