Reuters Asia Business

By Dave Sherwood HAVANA (Reuters) – Cuba’s state cigar monopoly, Habanos S.A., said on Wednesday it logged record sales of its famous hand-rolled smokes in 2021, rebounding strongly after two years of pandemic-induced sluggishness. Curbs on travel in 2020 due to the coronavirus had dealt a serious blow to demand from countries reliant on tourism …

Puffed with pride: Cuba’s legendary hand-rolled cigars post record sales in 2021 Read More »

SHANGHAI (Reuters) -China’s overall vehicle sales for April plunged almost 48% from a year earlier as COVID-19 lockdowns hit factories and showrooms, but sales of electric vehicles surged and Chinese brands took share from global rivals. The monthly sales volume was the lowest for the month in a decade, underscoring the economic toll of the …

China vehicle sales plunge 48% but EVs strong as BYD gains Read More »

By Liz Lee and Rozanna Latiff KUALA LUMPUR (Reuters) -Malaysia’s central bank unexpectedly raised its benchmark interest rate from an historic low on Wednesday, to cool inflationary pressures as the Southeast Asian country continues to recover from the COVID-19 pandemic. Bank Negara Malaysia (BNM) raised its overnight policy rate to 2% from a record low …

Malaysia central bank lifts key rate from all-time low on inflation risk Read More »

By Satoshi Sugiyama TOKYO (Reuters) -Toyota Motor warned “unprecedented” hikes in raw material costs could slice a fifth off full-year profit, a clear sign the world’s top automaker by sales can no longer shrug off the supply-chain crunch that has roiled the global industry. Also reporting a 33% drop in fourth-quarter operating profit, the Japanese …

Toyota warns profit to skid 20% as raw materials costs pile up Read More »

By Mei Mei Chu KUALA LUMPUR (Reuters) – Buyers in China, the world’s second-largest palm oil importer, are “no longer big bulls” in the commodities markets as they face an economic slowdown while the country chases a zero-COVID policy, edible oil analyst Dorab Mistry said on Wednesday. “China may not be the steam engine for …

China’s commodities consumption to slow, no longer ‘big bulls’, says analyst Mistry Read More »

By Tim Kelly TOKYO (Reuters) – Panasonic Corp forecast on Wednesday flat operating profits this business year as component shortages and rising material costs continue to pose a risk to earnings. The Japanese company predicted operating profit of 360 billion yen for the year to March 31, 2023, little changed from the 357 billion it …

Panasonic sees flat profits amid price rises, shortages Read More »

(Reuters) – The yuan’s 5% fall against the dollar in the last three weeks has raised speculation over when and how the People’s Bank of China (PBOC) might act to slow its depreciation. Even against a basket of major trading partners’ currencies, the yuan has lost 3.6%. The main factors behind the portfolio outflows from …

Factbox: How PBOC might respond to China’s weakening yuan Read More »

TOKYO (Reuters) – Japan’s economy likely contracted in the first three months of this year as the lingering fallout from the COVID-19 pandemic took a toll on consumption and exports, a Reuters poll showed. The weak reading will underscore the challenge policymakers face in pulling the world’s third-largest economy sustainably out of the pandemic-induced doldrums. …

Japan’s economy to suffer Q1 slump on lower consumption Read More »

TAIPEI (Reuters) -Taiwan’s central bank said on Wednesday it will tighten its monetary policy in a timely manner, but that will depend on the inflation outlook, domestic COVID-19 outbreak and what major economies are doing. In a surprise move in March, the central bank raised its benchmark interest rate and by a much bigger margin …

Taiwan central bank flags ‘timely’ tightening of monetary policy Read More »