Reuters Asia Business

Stocks rise with growth names, dollar up on talk of more Moscow sanctions

4 Apr 2022

By Caroline Valetkevitch NEW YORK (Reuters) – Stocks on global indexes rose on Monday, with the Nasdaq and growth names leading gains on Wall Street, while the U.S. dollar strengthened on talk of more sanctions against Moscow following international outrage over Ukraine civilian killings. Adding to investor caution, the 2-year/10-year Treasury yield curve remained inverted, …

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Prosecutor urges jury to convict ex-Goldman banker in ‘brazen’ 1MDB scheme

4 Apr 2022

By Luc Cohen NEW YORK (Reuters) -A former Goldman Sachs banker should be convicted of helping loot billions of dollars from Malaysia’s 1MDB sovereign wealth fund and causing “immeasurable” harm, a U.S. prosecutor told jurors in her closing argument on Monday. But a lawyer for the defendant Roger Ng, Goldman’s former top investment banker for …

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Oil jumps over 3% as deaths near Kyiv prompt talk of new sanctions

4 Apr 2022

By Stephanie Kelly NEW YORK (Reuters) -Oil prices jumped over 3% on Monday, with investors worried about tighter supply as mounting civilian deaths in Ukraine increased pressure on European countries to impose sanctions on Russia’s energy sector. Global benchmark Brent crude jumped $3.14, or 3%, to settle at $107.53 a barrel. U.S. West Texas Intermediate …

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Sri Lanka gets new finance minister, cenbank governor as unrest grows

4 Apr 2022

By Uditha Jayasinghe and Devjyot Ghoshal COLOMBO (Reuters) – Sri Lankan President Gotabaya Rajapaksa dropped his brother as finance minister and sought a new central bank governor on Monday, as crowds angry over the country’s deepening economic crisis surrounded the homes of several lawmakers. The debt-laden country, run by Rajapaksa and members of his family …

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Analysis-Russia-Ukraine fallout starts felling fragile ‘frontier’ economies

4 Apr 2022

By Rachel Savage and Marc Jones LONDON (Reuters) – The fallout of the Russia and Ukraine war has just helped tip two of world’s poorest countries into full-blown crises, and the list of those at risk – and the queue at the International Monetary Fund’s door – will only get longer from here. They may …

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Kazakhstan oil output down in March, Chevron leads the fall -sources

4 Apr 2022

(Reuters) – Kazakh oil production excluding condensate fell to 1.55 million barrels per day (bpd) in March, down 3% from February, amid export problems from the Black Sea Caspian Pipeline Consortium (CPC) terminal, Reuters calculations based on output data from two industry sources showed. The fall in Kazakh oil output was because of lower intake …

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U.S. dollar firms on prospect of more sanctions over Ukraine

4 Apr 2022

By Gertrude Chavez-Dreyfuss and Joice Alves NEW YORK/LONDON (Reuters) – The dollar gained on Monday, rising for three straight sessions, as civilian killings in north Ukraine and the prospect of increased sanctions pushed investors to seek safety in the greenback. The U.S. currency also continued to benefit from a strong non-farm payrolls report for March …

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Square Peg to raise $550 million, bullish on Southeast Asian startups

4 Apr 2022

By Anshuman Daga SINGAPORE (Reuters) – Australian venture capital firm Square Peg is raising $550 million to expand its commitment to back startups in its key markets of Australia and Israel, with a growing focus on Southeast Asia’s booming tech markets. “We do want to continue to double down in Southeast Asia in particular,” Tushar …

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Indonesia’s GoTo sells stake in Philippines e-wallet Coins.ph

4 Apr 2022

SINGAPORE (Reuters) – GoTo Group, Indonesia’s biggest tech firm, said on Monday it had sold its majority stake in Filipino e-wallet Coins.ph, signalling the end of it efforts to capture the Philippines market. Ride-hailing and payments firm Gojek, which merged last year with e-commerce leader Tokopedia to form GoTo, had acquired the stake in 2019 …

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Myanmar central bank says FX deposits must be converted into local currency

4 Apr 2022

(Reuters) – Foreign exchange earned by locals in Myanmar must be deposited in accounts at licensed banks and exchanged for the local currency within one working day, the central bank said, as the country’s military authorities seek more control over foreign currency flows. In a notification dated April 3 and published in state media on …

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