Reuters Asia Business

By Aftab Ahmed and Nupur Anand NEW DELHI (Reuters) – The Indian government has set the ball rolling for the country’s biggest initial public offering (IPO) by March-end, filing draft papers for a share sale by state-owned insurance giant Life Insurance Corp of India (LIC) with regulators on Sunday. Very little was previously known about …

Factbox-Four key facts about Indian insurance giant LIC as $8 billion mega-IPO nears Read More »

By Naveen Thukral SINGAPORE (Reuters) – Record volumes of lower quality wheat from India and Australia are set to fill a gap left in Asia’s animal feed market by a shortage of corn exports from South America, where drought is expected to reduce output, traders and analysts told Reuters. Combined wheat production from India and …

Analysis-Abundant lower-quality Asian wheat supplies to fill corn shortage Read More »

By Anshuman Daga SINGAPORE (Reuters) – DBS Group flagged strong business momentum after its profit rose to a record last year, cementing a recovery for Southeast Asia’s largest lender as pandemic-hit economies rebound and boost loan growth and asset quality. Singapore lenders are also expected to be big beneficiaries of rising interest rates, while the …

Singapore bank DBS profit rebounds, rates outlook improves outlook Read More »

SHANGHAI (Reuters) – China’s central bank is expected to roll over its medium-term loans maturing this week, but a second consecutive cut to its lending rate is seen as unlikely, a Reuters survey showed. Nineteen out of 22 financial institutions surveyed said they expect the People’s Bank of China (PBOC) to issue 200 billion yuan …

China seen rolling over medium-term loans, rate change not expected Read More »

By Khanh Vu and Phuong Nguyen HANOI (Reuters) – Vietnamese factories making everything from shoes to smartphones are expected to continue production despite record COVID-19 infections, reversing a policy of sweeping lockdowns last year that hobbled global supply chains for Western retailers. One of the world’s biggest garment makers, Vietnam reported more than 26,000 new …

In relief for retailers, Vietnam won’t close factories amid COVID surge Read More »

SHANGHAI (Reuters) – Standard Chartered Bank (Hong Kong) Ltd said on Monday that it has become the first foreign bank qualified as a direct participant in China’s Cross-border Interbank Payment System (CIPS) outside mainland China. Backed by the People’s Bank of China (PBOC), China launched the CIPS clearing and settlement services system in 2015 to …

Standard Chartered HK says it has qualified as direct CIPS offshore participant Read More »

TOKYO (Reuters) – Japan’s chief cabinet secretary Hirokazu Matsuno voiced hope on Monday that the central bank will continue to make efforts to accelerate inflation to its 2% target. “Specific monetary policy means falls under the jurisdiction of the Bank of Japan. We hope the BOJ continues to strive toward achieving its price goal,” Matsuno …

Japan govt spokesman voices hope BOJ will continue effort to hit inflation goal Read More »