Reuters Asia Business

Japan likely to miss primary budget surplus target for FY2025, sources say

15 Jan 2025

By Yoshifumi Takemoto TOKYO (Reuters) – Japan is likely to miss achieving its goal of running a primary budget surplus by the next fiscal year, according to three sources with knowledge of fresh fiscal estimates, as the minority government faces increasing pressure for more spending. The new estimate, to be released this week, knocks the …

Japan likely to miss primary budget surplus target for FY2025, sources say Read More »

South Korea jobless rate hits 3-1/2-yr high amid political uncertainty

15 Jan 2025

By Jihoon Lee SEOUL (Reuters) -South Korea’s jobless rate jumped to the highest in 3-1/2 years in December, as political turmoil stoked economic uncertainty and dampened sentiment, data showed on Wednesday, a day ahead of the central bank’s first monetary policy meeting of the year. The unemployment rate last month rose to 3.7% on a …

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China to cut pay by half for staff at top financial regulators, sources say

15 Jan 2025

BEIJING/HONG KONG (Reuters) -China is set to slash pay for staff at its top three financial regulators, including the central bank, by about half, as part of a regulatory revamp unveiled in 2023 to bring their salaries in line with other civil servants, sources said. Starting from this month, staff at the People’s Bank of …

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Over half a million ‘TikTok refugees’ flock to China’s RedNote 

14 Jan 2025

By Eduardo Baptista, Katie Paul and Krystal Hu (Reuters) – New users have piled in to Chinese social media app RedNote just days before a proposed U.S. ban on the popular social media app TikTok, as the lesser-known company rushes to capitalize on the sudden influx while walking a delicate line of moderating English-language content, …

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US bans imports from 37 more Chinese companies over Uyghur forced labor, including Huafu Fashion

14 Jan 2025

By Karen Freifeld WASHINGTON (Reuters) – The United States has banned imports from another tranche of Chinese companies over alleged human-rights abuses involving the Uyghurs, targeting 37 textile, mining and solar companies, the Department of Homeland Security said on Tuesday. The companies include Huafu Fashion Co., one of the world’s largest textile manufacturers, and 25 …

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EU weighs curbs on Chinese medical device makers in public bids

14 Jan 2025

By Philip Blenkinsop BRUSSELS (Reuters) -EU medical device suppliers are not given fair access to China’s public tenders, the European Commission concluded on Tuesday, a finding that could lead to restrictions on Chinese suppliers in Europe. The EU executive said it could exclude Chinese bidders from EU public procurement markets or attach a penalty score …

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