Reuters Asia Business

WASHINGTON (Reuters) -The U.S. Commerce Department said on Wednesday it was suspending the export privileges of three U.S.-based firms for 180 days for what it said was the illegal export of satellite, rocket and defense technology to China. Quicksilver Manufacturing Inc, Rapid Cut LLC and U.S. Prototype Inc are subject to the action for the …

U.S. suspends three firms’ export privileges for alleged illegal exports to China Read More »

(Reuters) – Russian lender Sberbank suspended settlements in yuan for corporate clients from June 7, the bank said on Wednesday. “Currently, the bank is working with Chinese partners on solving the situation and renewal of the settlements,” a company spokesperson said. It was not immediately clear what lead to the stoppage of the operations in …

Russia’s Sberbank suspends settlements in yuan for corporate clients Read More »

By Jeffrey Dastin and Akash Sriram (Reuters) – Dave Clark, the Amazon.com Inc executive who built a delivery arm to rival major cargo companies, will join logistics technology startup Flexport as chief executive in September, he said on Wednesday in a LinkedIn post. Amazon announced last week that Clark planned to leave his role as …

Amazon’s consumer chief to jump to logistics startup Flexport as CEO Read More »

By Sheila Dang and Greg Roumeliotis (Reuters) -Twitter Inc anticipates a shareholder vote on its $44 billion sale to Elon Musk could come by early August, as it continues to work constructively to complete the deal with the world’s richest person, the social media company’s top executives told employees on Wednesday. Musk’s lawyers warned Twitter …

Twitter plans to have shareholder vote by August on sale to Elon Musk Read More »

CAIRO (Reuters) – Egypt has extended the ban on the export of wheat, flour, corn, lentils, pasta, fava beans and all kinds of vegetable oil for three more months, its trade ministry said in a document seen by Reuters on Wednesday. The ministry said it would allow exports of any excess of the local market’s …

Egypt extends ban on staples including wheat, flour and corn for three more months -document Read More »

By Uditha Jayasinghe COLOMBO (Reuters) -A power sector union in Sri Lanka said on Wednesday it will go on an indefinite strike from midnight in protest against new government legislation, potentially leading to power blackouts in a country already grappling with its worst economic crisis in decades. Some 900 out of around 1,100 engineers of …

Sri Lanka power union announces strike, raising risk of blackouts Read More »