Reuters Asia Business

Indonesia unveils economic stimulus package worth almost $1 billion

JAKARTA (Reuters) – Indonesia on Monday announced a new economic stimulus package worth 16.23 trillion rupiah ($989 million), including food assistance and an infrastructure building programme that could provide temporary work for more than 600,000 people. The stimulus measures will be implemented in the fourth quarter of 2025, the country’s chief economic minister Airlangga Hartarto …

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China accuses US of ‘bullying’ in push for tariffs over Russian oil purchases

BEIJING (Reuters) – China accused the United States of “unilateral bullying” in calling on allies to impose tariffs on China over its purchase of Russian oil, fueling tensions as Chinese and U.S officials meet in Spain to try to resolve trade disputes. China opposes Washington’s request that the Group of Seven and NATO countries impose …

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China’s Xi urges ‘orderly exit’ of outdated production capacity, Xinhua says

BEIJING (Reuters) -Chinese President Xi Jinping has called for the “orderly exit” of outdated production capacity and the curbing of “disorderly” price competition, state-run news agency Xinhua reported on Monday, citing an article written by Xi. China’s leaders have pledged to put an end to aggressive price cuts by some Chinese companies, which regulators say …

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Indonesia expects state bank funding to spur village co-op programme

JAKARTA (Reuters) -The Indonesian government expects the $12 billion it has moved to state banks to spark an acceleration in plans to set up 80,000 village cooperatives across the country after a slow start to the flagship scheme, a minister said on Monday. The “Red and White Cooperatives” are intended to drive growth and create …

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South Korea to fine companies up to 5% of profit for recurring fatal accidents, ministry says

SEOUL (Reuters) -South Korea will introduce a new industrial safety regulation that will fine companies with more than three workers dying from workplace accidents each year up to 5% of operating profit, the labour ministry said on Monday. The government will also revise industrial safety law to strip construction companies, which are repeatedly ordered to …

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China’s BYD says to ‘actively respond’ to supplier payment initiative

HONG KONG (Reuters) – China’s BYD said on Monday it would actively respond to an industry initiative that fleshes out rules on automakers making timely payments to suppliers, joining others in complying with a government call against price wars. The Chinese electric vehicle giant said it will focus on order confirmation, delivery and acceptance, payment …

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China’s home prices extend decline, more policy support needed

BEIJING (Reuters) – China’s new home prices fell again in August, extending a prolonged slump in prices as persistently weak demand in the pivotal housing sector remains a drag on economic growth. Prices slipped 0.3% in August from the previous month, according to Reuters calculation based on data released by the National Bureau of Statistics. …

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