Reuters Asia Business

Azerbaijan’s SOCAR signs deal to buy refiner Italiana Petroli

23 Sep 2025

By Nailia Bagirova and Francesca Landini BAKU (Reuters) -Azerbaijan’s state oil company SOCAR agreed on Tuesday to buy Italiana Petroli, securing control of one of Italy’s largest petrol station networks, a Reuters witness reported from the signing ceremony. The event took place during the international investment forum in Baku and confirmed what sources told Reuters …

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Pakistan floods batter fields, factories and fiscal plans

23 Sep 2025

(Corrects to add punctuation in headline) By Ariba Shahid and Asif Shahzad KARACHI/ ISLAMABAD (Reuters) -Massive floods in Pakistan have struck both the rural heartland and industrial centres for the first time in decades, causing billions of dollars in damage while straining food supplies, exports and a fragile economic recovery.  The government had been optimistic …

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Chinese police investigating app fraud case, says German drugmaker Merck KGaA

23 Sep 2025

SHANGHAI (Reuters) -Police in China are investigating an app fraud case, said German healthcare firm Merck KGaA, amid growing concerns over entities claiming affiliation with major corporations. The Zibo police office in Shandong province had called the company over an investigation into an app fraud case, Merck KGaA said in a statement late on Monday.  Police …

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Nvidia’s $100 billion OpenAI play raises big antitrust issues

23 Sep 2025

By Jody Godoy (Reuters) -The $100 billion partnership between dominant AI chipmaker Nvidia and leading artificial intelligence company OpenAI could give both companies an unfair advantage over their competitors, experts say. The move underscores the increasingly overlapping financial interests of the various tech giants developing advanced AI systems, and the potential for a dwindling number …

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High rice prices jolt Indonesia consumers despite good crop, hefty stocks

23 Sep 2025

By Dewi Kurniawati and Bernadette Christina JAKARTA (Reuters) -Indonesian rice prices hit record highs recently despite a bumper harvest and vast stockpiles after the government raised its purchase price and lowered state-procurement quality standards, leading to a scramble for the grain and fueling consumer backlash. The price of benchmark medium rice rose to 15,950 rupiah …

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Taiwan August export orders beat forecasts on solid AI demand

23 Sep 2025

TAIPEI (Reuters) -Taiwan’s export orders rose for the seventh straight month in August, fuelled by demand for tech products such as those related to artificial intelligence, but global trade uncertainty continues to cloud the outlook. Export orders rose 19.5% in August on the year to $60.02 billion, the economic affairs ministry said on Tuesday, beating …

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Exxon Mobil starts up new Singapore refining unit, boosts sour crude imports

23 Sep 2025

By Florence Tan and Anmol Choubey (Reuters) -Exxon Mobil Corp has started production at new facilities at its Singapore oil refinery complex to produce base stocks from residue fuel, it said on Tuesday, boosting the plant’s intake of high-sulphur crude. The technology combines processes to convert fuel oil and other bottom-of-the-barrel crude products into higher-value …

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Thailand records 7.44% y/y drop in foreign visitors so far in 2025

23 Sep 2025

BANGKOK (Reuters) -Thailand’s foreign tourist arrivals from January 1 to September 21 fell 7.44% from the same period a year earlier, the Tourism Ministry said on Tuesday. There were about 23.45 million foreign visitors during the period, it said in a statement. Malaysia was the largest source market with 3.38 million visitors, followed by China …

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Indonesia suspends 190 mining permits, state media reports

23 Sep 2025

JAKARTA (Reuters) -Indonesia suspended 190 coal and mineral mining permits after they failed to meet their obligations for the rehabilitation of mine-damaged land or comply with production quotas, state media Antara reported on Tuesday, citing the deputy mining minister. “This is (based on) a comprehensive evaluation conducted by the Directorate General of Minerals and Coal,” …

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