Reuters Asia Business

By Mimosa Spencer PARIS (Reuters) – The 30 largest listed fashion firms must do more to hit Paris climate accord targets and U.N. sustainable development goals, although some are improving their social and environmental credentials, The Business of Fashion said in a report on Tuesday. Fashion brands face increasing pressure from consumers, particularly younger ones, …

Fashion industry needs to pick up pace on climate goals, says report Read More »

By David Lawder WASHINGTON (Reuters) -U.S. Deputy Treasury Secretary Wally Adeyemo said on Tuesday that the Biden administration is considering whether to cut some tariffs on Chinese goods, but needs to balance short-term price reduction goals against the longer-term need to address unfair competition from China. “We’re actively considering what we do with regard to …

Biden considering move on Chinese goods tariffs-Treasury’s Adeyemo Read More »

By Manoj Kumar and Aftab Ahmed NEW DELHI (Reuters) – India’s economic growth slowed to the lowest in a year in the first three months of 2022, hit by weakening consumer demand amid soaring prices that could make the central bank’s task of taming inflation without harming growth more difficult. Gross domestic product grew 4.1% …

India’s March qtr GDP growth at one-year low as prices hit consumers Read More »

By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka wants farmers to plant more rice as part of plans to avert a severe food shortage, a top official said on Tuesday, as experts warned of a 50% drop in production that would worsen the impact of its already-severe financial crisis. Sri Lanka is in the throes …

Sri Lanka appeals for farmers to plant more rice as food shortage looms Read More »

SHANGHAI (Reuters) -China’s Ministry of Finance said on Tuesday that it will halve a purchase tax for small-engine cars to boost auto sales. The government will cut the tax for cars priced at no more than 300,000 yuan ($45,000) and with 2.0-liter or smaller engines to 5% of the sticker price, it said in a …

China to halve purchase tax for small-engine cars Read More »

By Sam Nussey TOKYO (Reuters) – Japan’s SoftBank Group Corp had its credit outlook cut to “negative” from “stable” on Tuesday by ratings agency Moody’s Investors Service which cited a decline in the value of its portfolio and estimated the tech investor’s leverage had risen. SoftBank this month reported a record loss at its Vision …

Moody’s revises SoftBank outlook to ‘negative’ citing tech slide, leverage Read More »

TAIPEI (Reuters) -Taiwan’s central bank said on Tuesday it expects economic growth to decline and inflation to rise this year and that it will take appropriate steps in a timely way to respond to economic uncertainty. At its last quarterly meeting in March, the central bank unexpectedly raised the benchmark discount rate by 25 basis …

Taiwan central bank says it will respond appropriately to economic uncertainty Read More »

JAKARTA (Reuters) – Indonesia’s central bank predicts the rupiah will weaken slightly against the U.S. dollar next year, even as the Federal Reserve is expected to hike interest rates several times through to 2023, its governor said on Tuesday. Perry Warjiyo said the rupiah’s exchange rate is seen averaging at a range of 14,400 to …

Indonesia central bank sees 2023 avg rupiah exchange rate at 14,400-14,800/$ Read More »