Reuters Asia Business

Alibaba to raise $3.2 billion via convertible bond to fund cloud growth

11 Sep 2025

By Scott Murdoch and Casey Hall (Reuters) – Chinese e-commerce leader Alibaba said on Thursday it plans to raise $3.2 billion through the sale of a zero-coupon convertible bond to fund international expansion and strengthen cloud computing. The bond will be the largest of its kind this year, showed Dealogic data, eclipsing DoorDash’s $2.75 billion …

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Saudi crude oil supply to China set to surge in October, trade sources say

11 Sep 2025

By Siyi Liu SINGAPORE (Reuters) -Saudi Arabia’s crude oil exports to China are set to surge in October after a deep cut in prices, several trade sources said on Thursday. State oil company Saudi Aramco will ship about 51 million barrels to China in October, about 1.65 million barrels per day (bpd), a tally of …

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Britain’s Octopus Energy partners with Chinese wind turbine maker

11 Sep 2025

By Susanna Twidale LONDON (Reuters) -Britain’s largest electricity supplier Octopus Energy has signed a deal with Chinese wind turbine manufacturer Ming Yang Smart Energy, which could see the first Chinese made turbines installed in Britain. Britain is seeking to scale up renewable power to help meet its climate targets but is also grappling with rising …

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Indonesia’s new finance minister says 2026 budget plans could be revised

11 Sep 2025

By Stefanno Sulaiman JAKARTA (Reuters) – Indonesia might allocate more funds from its proposed 2026 budget to its provinces and districts to calm fears about the likelihood of local tax hikes, its new finance minister said on Thursday. Indonesia’s parliament is currently discussing next year’s $236 billion budget proposal, which forecasts a deficit of 2.48% …

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Centurion REIT eyes $1.18 billion valuation, raising $771.1 million in Singapore IPO

11 Sep 2025

(Reuters) -Centurion Accommodation REIT said it is aiming for a valuation of up to S$1.51 billion ($1.18 billion) in its initial public offering in Singapore, potentially making it one of the largest listings in the country this year. The company aims to raise S$771.1 million by offering 216.2 million shares to institutional investors at S$0.88 …

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Philippines forms independent body to probe anomalies in infrastructure projects

11 Sep 2025

MANILA (Reuters) -Philippine President Ferdinand Marcos Jr. formed an independent commission on Thursday to investigate alleged corruption in infrastructure projects, with a focus on flawed flood control facilities that have shocked an already graft-weary nation. Flood control projects have been thrust into the spotlight in recent months after allegations of mismanagement emerged during a period …

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Third cargo from Russia’s sanctioned Arctic LNG 2 discharges and departs China

11 Sep 2025

By Sam Li and Lewis Jackson BEIJING (Reuters) -A third tanker from Russia’s Arctic LNG 2 plant, which is under Western sanctions, discharged its cargo and exited a terminal in China on Wednesday, LSEG and Kpler’s ship-tracking data showed. The U.S.-sanctioned LNG tanker Zarya unloaded more than 160,000 cubic meters of LNG from the sanctioned …

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China’s teapot refiners face fresh test from crackdown on tax evasion

11 Sep 2025

By Sam Li and Lewis Jackson BEIJING (Reuters) -China’s independent teapot refiners are staring down a fresh hit to profits because of new rules introduced this month to crack down on untaxed refined oil, analysts say, as the sector struggles with tepid fuel demand and overcapacity. Refiners are required to pay consumption taxes both when …

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China cannot be ignored, Britain’s trade minister says, as row over embassies clouds ties

11 Sep 2025

By Joe Cash BEIJING (Reuters) – Britain’s new business minister Peter Kyle, visiting Beijing for the first trade talks since 2018, said China’s economic might made it “unignorable” but that better commercial ties hinged on moving past a long-running row on new embassies. Kyle, on his first trip since being appointed last week, will restart …

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