Reuters Asia Business

BERLIN (Reuters) – Volkswagen will strengthen its relationship to China and can guarantee that the company does not employ any forced labour in the country, the carmaker’s chief executive Herbert Diess said to German broadcaster RTL on Wednesday. “China will remain an engine of growth,” Diess said. “We will engage even more strongly there.” The …

Volkswagen to strengthen engagement in China, promises no forced labour at plants – RTL Read More »

By Mei Mei Chu KUALA LUMPUR (Reuters) – State agency the Malaysian Palm Oil Council (MPOC) on Wednesday lowered its production outlook for the world’s second largest producer and pegged prices to remain above 6,000 ringgit ($1,367.37) a tonne this year. MPOC forecast Malaysia’s 2022 production at 18.6 million tonnes, up from 18.1 million tonnes …

Malaysia palm oil prices seen trading above 6,000 rgt in 2022 -state agency Read More »

HONG KONG (Reuters) -HSBC Holdings plans to invest more than 3 billion yuan($448 million) in its Chinese operations, Chief Executive Noel Quinn told state news agency Xinhua, saying he sees challenges for the economy but also opportunities for investments. The investment roadmap comes just a month after HSBC’s largest investor, Chinese insurance firm Ping An, …

HSBC plans $448 million investment in Chinese business – Xinhua Read More »

By Tetsushi Kajimoto TOKYO (Reuters) -Japanese firms raised capital spending for a fourth straight quarter from January to March, underscoring the resilience of business investment led by manufacturers despite uncertainty over the COVID-19 pandemic and the war in Ukraine. Firm business expenditure could raise hopes for policymakers counting on cash-rich Japanese corporations to splurge on …

Japan Q1 corporate capital spending rises 3%, led by manufacturers Read More »

By Farah Master HONG KONG (Reuters) – Plunging casino revenues in Macau, the world’s largest gambling hub, are taking a heavy toll on the wider economy, forcing hundreds of businesses to close down and pushing unemployment to its highest level since 2009. The former Portuguese colony on Wednesday posted one of its worst monthly gambling …

Macau’s casino losses engulf gambling hub as no quick fix in sight Read More »

SHANGHAI (Reuters) – China will aim to ensure that its grids source about 33% of power from renewable sources by 2025, up from 28.8% in 2020, the state planning agency said on Wednesday in a new “five-year plan” for the renewable sector. China’s total renewable energy consumption is set to reach about 1 billion tonnes …

China says a third of electricity will come from renewables by 2025 Read More »

By Chen Lin and Mei Mei Chu SINGAPORE/KUALA LUMPUR (Reuters) – Singapore is bracing for a shortage of its de-facto national dish, chicken rice, as major supplier Malaysia halts all chicken exports from Wednesday. Restaurants and street stalls in the city-state are faced with hiking prices of the staple food or shutting down altogether as …

Singapore’s de-facto national dish in the crossfire as Malaysia bans chicken exports Read More »

TOKYO (Reuters) – Denso Corp, Japan’s largest auto supplier, was bullish about its prospects in a business presentation on Wednesday as demand for automotive chips expands and it tackles semiconductor shortages that have frustrated Toyota Motor Corp, its biggest shareholder and customer. Chief Technology Officer Yoshifumi Kato said Denso expects demand for auto chips to …

Denso bullish on business prospects as it tackles chip shortages Read More »

(Reuters) – Panasonic Holdings Corp, which makes batteries for Tesla and other automakers, said on Wednesday it expected global car production to recover this fiscal year, but predicted that the two-year long chip shortage would continue. “We will be running our business as we consider risks of fluctuations on vehicle production,” said Masashi Nagayasu, CEO …

Japan’s Panasonic sees global car output improving this business year Read More »