SHANGHAI (Reuters) – Chinese social media giant Tencent Holdings Ltd will reduce transaction fees for small and medium-sized merchants using its WeChat payments system by 10%, the company said in a statement on Thursday. The reductions will apply beginning Sept. 1, 2021, and extend up to Sept. 30, 2024, the company added. In order to …
China’s Tencent to reduce transaction fees on WeChat payments for SMEs Read More »
By Nivedita Balu (Reuters) – Grab Holdings Ltd on Thursday reported a plunge in revenue that missed estimates as massive promotional offers and higher driver incentives hurt the largest ride-hailing and food delivery firm in Southeast Asia. Shares of Grab, which reported its first quarterly earnings since going public in December, fell 10% to $4.71 …
Grab’s massive investments hurt quarterly revenue Read More »
By Engen Tham and Julie Zhu (Reuters) – Top Chinese banks are rushing to ensure they can maintain business ties with Russian clients without running afoul of a barrage of Western sanctions, people with knowledge of the matter told Reuters. Western nations are tightening an economic noose around Russia following its invasion of Ukraine, shutting …
Analysis-Chinese banks scramble for ‘workarounds’ as Russia sanctions impinge Read More »
HONG KONG (Reuters) – Property developer Sunac China said on Thursday it will hold a meeting next week with investors to approve an additional sell back date next year for a 4 billion yuan ($633.08 million) puttable bond, which analysts said could ease some liquidity pressure for the firm. China’s third largest developer by sales …
China developer Sunac seeks to add new put option for $633 million bond Read More »
By Samuel Shen and Andrew Galbraith SHANGHAI (Reuters) – The Moscow branch of a Chinese state bank has seen a surge in enquiries from Russian firms wanting to open new accounts, a person familiar with the matter said, as the country’s businesses struggle with international sanctions after its invasion of Ukraine. “Over the past few …
Exclusive – Russian firms rush to open Chinese bank accounts as sanctions bite – sources Read More »
By Tim Kelly and Satoshi Sugiyama TOKYO (Reuters) -A Tokyo court on Thursday handed former Nissan Motor executive Greg Kelly a six-month suspended sentence for helping Carlos Ghosn hide pay from regulators, paving the way for the American lawyer to return home after more than three years in Japan. “The court finds the existence of …
Former Ghosn deputy set for U.S. return after suspended sentence Read More »
KUALA LUMPUR (Reuters) – Malaysia’s central bank kept its benchmark interest rate at a record low on Thursday, in line with expectations, as the country’s economic recovery gathers pace. A Reuters poll showed 19 economists surveyed had expected Bank Negara Malaysia (BNM) to keep its overnight policy rate steady at 1.75%, although some forecast a …
TOKYO (Reuters) – Japanese chipmaker Renesas Electronics Corp announced on Thursday it will set up a design centre with India’s Tata Elxsi Ltd to jointly develop electric vehicle (EV) technology as appetite for the EV market continues to grow. The centre in Bangalore will be a new hub for the two companies to develop crucial …
Japan’s Renesas, India’s Tata Elxsi partner in EV design centre Read More »
(Reuters) – Australian financial conglomerate Macquarie Group’s green investment unit said on Thursday it would launch an offshore wind energy business, with operations set to start in April. The new business, Corio Generation, will be part of Macquarie’s Green Investment Group (GIG) and will have a global project pipeline of 15 gigawatts, one of the …
Australia’s Macquarie to launch offshore wind energy business Read More »
BEIJING (Reuters) – A Russian-run online store on Chinese e-commerce platform JD.com thanked Chinese shoppers for their support after it sold out of most items including chocolate and fabric softener, saying it showed the country’s friendship in “difficult” times. The online shop front of the “Russian State Pavilion” store, which says it is endorsed by …
In China, a run on Russian chocolates as show of support Read More »
