Reuters Asia Business

By Tetsushi Kajimoto TOKYO (Reuters) -East Asian economic leaders warned on Thursday of risks to the region’s outlook and pledged to remain committed to market stability and sound fiscal policy. Economic risks included unexpectedly early rises in interest rates “in some advanced nations”, runaway inflation and supply chain disruption on top of the war in …

Asian economic powers warn of risks from war, monetary policy normalisation Read More »

SEOUL (Reuters) – South Korea unveiled plans on Thursday to pay more than $20 billion to small businesses and self-employed people to make up for losses due to COVID restrictions. The first supplementary budget since President Yoon Suk-yeol took office this week is scaled at 59.4 trillion won ($46.1 billion), but 23.0 trillion won will …

South Korea drafts $46 billion extra budget to help COVID-hit businesses Read More »

By Yimou Lee and Sarah Wu TAIPEI (Reuters) -Apple supplier Foxconn warned that current-quarter revenue for its electronics business including smartphones could slip as growth slowed amid rising inflation and cooling demand in locked-down China, as well as escalating supply chain issues. The Taiwanese firm, the world’s largest contract electronics maker, has grappled with a …

Apple supplier Foxconn forecasts tough year on China COVID curbs, inflation Read More »

By David Gaffen NEW YORK (Reuters) – Oil prices rose more than 5% on Wednesday after flows of Russian gas to Europe fell and Russia sanctioned some European gas companies, adding to uncertainty in world energy markets. Oil and gas prices have risen since Moscow invaded Ukraine in February and the United States and allies …

Oil up more than 5%, as Russia-EU energy quarrel intensifies Read More »

KARACHI, Pakistan (Reuters) -Pakistan LNG Limited (PLL) on Wednesday awarded a tender to PetroChina for the delivery of two liquefied natural gas (LNG) spot cargoes in June, an industry source said. PetroChina offered the lowest bids of $23.96 per million British thermal units (mmBtu) for June 1-2 delivery and $22.49/mmBtu for June 28-29 delivery in …

Pakistan LNG awards tender to PetroChina for two June LNG spot cargoes -source Read More »

By Eric M. Johnson and Aishwarya Nair SEATTLE (Reuters) – Boeing Co said on Wednesday it would study an equity raise after unlocking deliveries of its 787 and returning its cash-cow 737 MAX to service in China, but flagged supply chain risks amid broader certification and industrial problems. Resuming deliveries of 787 Dreamliners and clearing …

Boeing sees progress on 787, China, but supply chain risks loom Read More »

By Claudia Cristoferi and Silvia Aloisi MILAN (Reuters) -Italian luxury shoe maker Tod’s sees analysts’ expectations for 2022 sales and profitability as achievable despite a marked slowdown in China due to widespread COVID-19 restrictions, its finance chief said. The company said 30% of its stores in China are closed and online deliveries have stopped because …

Tod’s says China lockdowns won’t derail 2022 results Read More »

BEIJING (Reuters) -China will strive to stabilise the economy and will use various policy tools to support employment, state media quoted the cabinet as saying on Wednesday. China’s fiscal and monetary policy will prioritise employment, and various policy tools will be used to help stave off job losses, the cabinet was quoted as saying after …

China says it will use various policy tools to support employment Read More »