Reuters Asia Business Archives - Page 2110 of 2133

India adds 54 more Chinese apps to ban list; Sea says it complies with laws

15 Feb 2022 15 Feb 2022

(Reuters) -India has blocked access to 54 mobile apps, mainly Chinese but also including Singapore-based Sea Ltd’s “Free Fire” mobile game, over security concerns, government sources said on Tuesday. Since the start of political tension with China in 2020 following a border clash, India’s ban list, which initially had 59 Chinese apps, including TikTok, has …

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Starbucks faces backlash in China over police incident at store

15 Feb 2022 15 Feb 2022

BEIJING (Reuters) – Starbucks is battling its second bout of public fury in China in less than three months, after an incident described by the U.S. coffee giant as a “misunderstanding” at one of its stores sparked criticism from online users and state media. The company came under scrutiny on Monday after a user on …

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China’s central bank buys net 33.3 billion yuan in FX in Jan

15 Feb 2022 15 Feb 2022

BEIJING, Feb 15 (Reuters) – China’s central bank purchased a net 33.3 billion yuan worth of foreign exchange in January, according to Reuters calculations based on central bank data released on Tuesday. The following are historical data for central bank foreign exchange sales/purchases since Jan 2021, based on Reuters calculations. Month Net change (100 mln …

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Malaysia’s Sime Darby Plantation to compensate migrant workers over fees

15 Feb 2022 15 Feb 2022

KUALA LUMPUR (Reuters) – Malaysia’s Sime Darby Plantation will set aside a total of 82.02 million ringgit ($19.60 million) to compensate current and former migrant workers who paid recruitment fees to secure jobs, the company said, amid concerns over its labour practices. The U.S. Customs and Border Protection (CBP) has since 2020 barred Malaysian products …

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AirAsia parent to raise $95.5 million for engineering arm

15 Feb 2022 15 Feb 2022

By Aradhana Aravindan SINGAPORE (Reuters) -AirAsia’s parent Capital A Bhd is raising more than 400 million ringgit ($95.53 million) in capital for its engineering arm, which plans to build maintenance, repair and overhaul (MRO) facilities at Kuala Lumpur International Airport. Chief Executive Tony Fernandes of Capital A, which owns Malaysia’s flagship budget airline AirAsia, on …

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Thailand approves tax cut on diesel to ease high prices

15 Feb 2022 15 Feb 2022

BANGKOK (Reuters) – Thailand’s cabinet on Tuesday agreed to cut the excise tax on diesel by 3 baht ($0.0928) per litre for three months, from 5.99 baht currently, to help mitigate the impact of high energy prices. The tax cut will reduce revenue by 17 billion baht ($526 million), but that should be partially offset …

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Philippines, UAE agree to start talks on trade, investment deal

15 Feb 2022 15 Feb 2022

DUBAI (Reuters) – The Philippines and the United Arab Emirates, Manila’s top trade partner in the Middle East, on Tuesday agreed to start negotiations on bilateral trade and investment pact, a joint statement released by the Philippines government said. Thousands of Filipinos also work in the UAE, sending home more than $1 billion in remittances …

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Malaysia Airlines’ parent to lease 25 737 MAX jets from Air Lease Corp

15 Feb 2022 15 Feb 2022

SINGAPORE (Reuters) -Air Lease Corp will lease 25 Boeing 737 MAX jets to Malaysia Airlines’ parent to be delivered between early 2023 and 2026 through the lessor’s orderbook with the manufacturer. Malaysia Aviation Group (MAG) Chief Executive Izham Ismail said the deal was part of a restructuring of the terms of the airline’s order book …

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Dollar gains as Ukraine worries rise, Bullard reiterates rate comments

15 Feb 2022 15 Feb 2022

By Caroline Valetkevitch NEW YORK (Reuters) – The U.S. dollar index reached a two-week high on Monday on growing worries about Russia-Ukraine tensions and as St. Louis Federal Reserve President James Bullard reiterated calls for faster U.S. Federal Reserve interest rate hikes. The index briefly jumped further in afternoon trading after Ukraine President Volodymyr Zelenskiy …

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Tight oil market could see prices hit $125 in Q2, JP Morgan says

14 Feb 2022 14 Feb 2022

(Reuters) – Shortfalls in OPEC+ production and spare capacity concerns are likely to keep the oil market tight and prices could hit $125 per barrel as early as the second quarter of this year, JP Morgan Global Equity Research said. “Supply undershoot set to rise through 2022 as OPEC+ unlikely to deviate from targeted quota …

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Reuters Asia Business﻿﻿

Reuters Asia Business