Reuters Asia Business

By Stephen Nellis (Reuters) – Tenstorrent, a Silicon Valley artificial intelligence chip startup founded by Apple and Intel veterans, said it had won a deal with the Japanese government to help train up to 200 Japanese chip designers at its U.S. offices over five years. The contract announced on Tuesday, under which $50 million will …

Japan taps US chip startup Tenstorrent to help train new wave of engineers Read More »

LONDON (Reuters) – Mitsubishi UFJ Financial Group (MUFG) has appointed former Fidelity International banker Raphael Charon as head of middle market direct lending for MUFG in Europe, the Middle East and Africa, the bank said on Tuesday, as it looks to expand in one of banking’s hottest areas, private credit. Charon will be tasked with …

Japan’s MUFG hires Raphael Charon to grow direct lending business in EMEA Read More »

By Casey Hall SHANGHAI (Reuters) – China will upgrade its free trade zones and explore investment agreements with other countries, Chinese Premier Li Qiang said on Tuesday, adding that opening up was a “must” to combat rising unilateralism globally. Li told the opening ceremony of the annual China International Import Expo that as part of …

China must open up further to combat rising unilateralism, premier says Read More »

By Roshan Thomas and Yantoultra Ngui (Reuters) -The largest shareholder of Singapore’s Dyna-Mac said on Tuesday it will tender its entire stake in the oil contractor, following South Korean conglomerate Hanwha Group’s increased takeover offer of S$790.6 million ($599.44 million). The estate of founder Desmond Lim, Dyna-Mac’s single largest shareholder, did not find Hanwha’s initial …

Dyna-Mac’s founder accepts South Korean Hanwha’s revised buyout offer Read More »

BANGKOK (Reuters) – Thailand’s exports could grow more than 2% this year and beat a previous forecast, the Thai National Shippers’ Council said on Tuesday. “At worst, if Q4 numbers are the same as last year, exports should exceed 2%,” said Chaichan Chareonsuk, chairman of the Thai National Shippers’ Council. The council previously saw 2% …

Thai exports could grow above 2% this year, shippers’ group says Read More »

By Daniel Leussink TOKYO (Reuters) – Toyota Motor is expected to post its first profit drop in two years when it reports second-quarter earnings on Wednesday, signalling cooling demand after a run of robust earnings helped by a consumer shift away from electric vehicles. The world’s largest automaker is nonetheless expected to deliver almost $8 …

Toyota to post first profit drop in 2 years as demand cools after big run Read More »

BEIJING (Reuters) – China’s services activity expanded at the fastest pace in three months in October, helped by early signs that Beijing’s big stimulus push was helping improve business conditions, a private-sector survey showed on Tuesday. The Caixin/S&P Global services purchasing managers’ index (PMI) grew to 52.0 in October from 50.3 the previous month. The …

China’s services activity picks up as conditions improve, Caixin PMI shows Read More »

SEOUL (Reuters) – South Korea’s October headline inflation slowed further to the weakest level in almost four years, data showed on Tuesday, strengthening the case for more interest rate cuts and fueling worries of an undershoot of the Bank of Korea’s 2% target. The consumer price index rose 1.3% in October from a year earlier, …

South Korea inflation weakest in almost 4 years, sets stage for more rate cuts Read More »

By Lewis Jackson, Phuong Nguyen, Colleen Howe and Nichola Groom (Reuters) – Some of the biggest Chinese-owned solar factories in Vietnam are cutting production and laying off workers, spurred on by the expansion of U.S. trade tariffs targeting it and three other Southeast Asian countries. Meanwhile, in nearby Indonesia and Laos, a slew of new …

Chinese solar firms, ever-nimble, go further afield where US tariffs don’t reach Read More »