Reuters Asia Business

COLOMBO (Reuters) – The International Monetary Fund (IMF) on Wednesday said that it supported Sri Lanka’s plans to engage in “collaborative dialogue” with creditors, a day after the country unilaterally suspended external debt payments amid a severe economic crisis. “We assessed Sri Lanka’s debt to be unsustainable and that the country’s fiscal efforts and macroeconomic …

IMF says it welcomes Sri Lanka’s plans to engage with creditors Read More »

By Andrea Shalal WASHINGTON (Reuters) -The World Bank, International Monetary Fund, UN World Food Program and World Trade Organization on Wednesday called for urgent, coordinated action on food security, and appealed to countries to avoid banning food or fertilizer exports. In a joint statement, the leaders of the four institutions warned that the war in …

IMF, World Bank, WFP and WTO urge coordinated action on food security Read More »

BEIJING (Reuters) – China Tobacco said on Wednesday that e-cigarette manufacturers, wholesalers and retail market players with licenses can gradually trade on the e-cigarette trading management platform starting from June 15. China’s market regulator on Tuesday unveiled national standards for e-cigarettes which will go into effect from Oct. 1. (Reporting by Hong Kong newsroom; Editing …

Chinese e-cigarette firms can trade on platform from June 15 Read More »

By Ron Bousso and Chen Aizhu LONDON/SINGAPORE (Reuters) – China’s top offshore oil and gas producer CNOOC Ltd. is preparing to exit its operations in Britain, Canada and the United States, because of concerns in Beijing the assets could become subject to Western sanctions, industry sources said. Ties between China and the West have long …

Exclusive – China’s oil champion prepares Western retreat over sanctions fear Read More »

TOKYO (Reuters) – Uniqlo operator Fast Retailing Co’s earnings on Thursday may give an indication of how major global retailers are weathering COVID-related shutdowns in China, one of the biggest growth markets for many Western brands. China is Fast Retailing’s biggest overseas market, with 863 stores on the mainland, almost 90 outlets in Shanghai, where …

Uniqlo owner’s results seen as bellwether for China shutdown impact Read More »

By Chen Lin, Chayut Setboonsarng and Neil Jerome Morales (Reuters) – Two years after tourism in Southeast Asia ground to a halt, travellers are getting back on planes as entry and COVID-19 quarantine rules are lifted in the region, but a full recovery will be slow and some long-time hotspots are falling out of favour. …

Southeast Asia’s tourism industry begins uneven recovery Read More »

By Leika Kihara TOKYO (Reuters) -Bank of Japan Governor Haruhiko Kuroda on Wednesday warned the recent rise in inflation driven by higher import costs could hurt the economy, stressing the central bank’s resolve to keep monetary policy ultra-loose. Consumer inflation is likely to clearly accelerate as energy prices rise sharply and companies steadily pass on …

BOJ’s Kuroda vows easy policy, warns of economic hit from rising import costs Read More »

SEOUL (Reuters) – Hyundai Motor Co plans to add electric vehicles (EV) in its Montgomery assembly line in the United States, marking the South Korean automaker’s first EV production in the country, Hyundai Motor Manufacturing Alabama said on Tuesday. Hyundai said it plans to invest $300 million to build the Electrified Genesis GV 70 and …

Hyundai Motor to begin electric vehicles production in U.S Read More »

By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) -Japanese Finance Minister Shunichi Suzuki said on Wednesday sharp currency moves were “very problematic”, escalating his warning against excessive yen declines following the currency’s slide to a two-decade low against the dollar. Suzuki made the remarks to reporters after the yen’s fall below 126 to the dollar, …

Japan escalates currency warning as yen hits 20-year low vs dollar Read More »