Reuters Asia Business

KARACHI, Pakistan (Reuters) – Pakistan will slash fuel subsidies for a second time in a week in a bid to control the fiscal deficit and secure International Monetary Fund (IMF) bailout money, the finance minister said on Thursday. Pakistan and the IMF concluded negotiations last week on the resumption of the bailout programme, following which …

Pakistan slashes fuel subsidies in bid to control fiscal deficit – finance minister Read More »

By Howard Schneider NEW YORK (Reuters) – Digital money, a curiosity just a few years ago, is emerging as an intense concern among central banks with the potential to erode the power of monetary policy, and even in the best of worlds likely to make control of interest rates more difficult, according to new Federal …

A coming crypto storm for central banks? Focus on digital money intensifies Read More »

By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka is seeking help from the International Monetary Fund (IMF) for its 17th program in seven decades, needing a bailout in place before its economy disintegrates and shortages worsen. WHY DOES SRI LANKA NEED THE IMF’S HELP? The country of 22 million people, located off India’s southern tip, …

Factbox-Sri Lanka is running out of time to secure an IMF bailout Read More »

By Makiko Yamazaki and Scott Murdoch TOKYO (Reuters) -Toshiba Corp, the troubled Japanese conglomerate exploring strategic options, said it has received eight initial proposals to take it private as well as two proposals for capital alliances that would see it remain listed. The news comes amid recent signs that Toshiba, which has long been at …

Japan’s Toshiba receives eight proposals to go private Read More »

By Brenda Goh SHANGHAI (Reuters) -Amazon.com said it will stop supplying retailers in China with its Kindle e-readers from Thursday and will shut its Kindle e-bookstore there next year, in the latest pullback by a U.S. tech firm from the restrictive Chinese market. Amazon announced the decision on its official WeChat account on Thursday, saying …

Amazon to pull Kindle out of China, other businesses to remain Read More »

By Neil Jerome Morales and Karen Lema MANILA (Reuters) -Philippines ports and gaming tycoon Enrique Razon is acquiring a majority stake in a South China Sea gas field from a close ally of outgoing President Rodrigo Duterte, a move seen benefitting his oil exploration franchise on the Reed Bank. Razon’s Prime Infra Holdings Inc said …

Philippine tycoon Razon to buy majority of South China Sea gas field Read More »

BEIJING (Reuters) – China’s commerce ministry said on Thursday it will adopt necessary measures to protect the legitimate interests of Chinese companies after the U.S. said it was considering adding new Chinese firms to its blacklist over export sanction issues. Commerce ministry spokesperson Gao Feng, speaking at a regular news conference, said the U.S. should …

China to take necessary measures to protect domestic firms from U.S. blacklist – Commerce Ministry Read More »

By Bernadette Christina JAKARTA (Reuters) – Indonesia barred a group of its plantation workers from travelling to Malaysia because recruiters did not follow proper procedures and most of the workers did not have the right visa, the head of the country’s migrant worker protection agency said. Malaysia, the world’s second-largest palm oil producer behind Indonesia, …

Indonesia plantation workers barred from departing to Malaysia over visas Read More »

By Gaurav Dogra (Reuters) – Asian equities continued to witness foreign outflows for a fifth consecutive month in May, hit by concerns over monetary tightening measures by major central banks and supply chain disruptions due to strict lockdowns in China. Overseas investors withdrew $3.69 billion out of Asian equities, data from stock exchanges in Taiwan, …

Foreigners pull out of Asian equities for fifth straight month in May Read More »