Reuters Asia Business

By Ziyi Tang, Engen Tham and Selena Li BEIJING/SHANGHAI (Reuters) -China’s major state-owned banks have warned net interest margins will face increased pressure for the rest of the year as the world’s second-largest economy grapples with deflation and global economic volatility. The sector’s profit margins have been under pressure since the COVID-19 pandemic, weighed down …

China’s big banks warn of more margin pressure in the second half Read More »

BEIJING (Reuters) -Chinese electric vehicle maker BYD’s quarterly profit fell for the first time in more than three years, as its expansion hit a speed bump amid a government campaign against price wars. Net profit at the world’s biggest EV producer totalled 6.4 billion yuan ($894.74 million) in the second quarter, it reported on Friday, …

BYD’s quarterly profit falls for first time in 3-1/2 years as price wars bite Read More »

TOKYO (Reuters) -Japan’s Prime Minister Shigeru Ishiba and his Indian counterpart Narendra Modi agreed on Friday to deepen economic and security ties as New Delhi confronts new U.S. tariffs and Tokyo looks to counter China’s growing influence. “Japan and India should draw on each other’s strengths, help solve each other’s challenges, and even tackle together …

Japan, India to deepen security, economic ties amid U.S. tariffs Read More »

(Corrects to clarify that the ministry did not cite wider European concerns in first paragraph) MADRID (Reuters) -The Spanish government has cancelled a fibre-optic service contract with Telefonica over the use of equipment made by China’s Huawei, the Digital Transformation Ministry said, amid concerns in Europe that such gear may pose a security risk. “We …

Spanish government cancels contract with Telefonica for using Huawei gear Read More »

By Arriana McLymore and Helen Reid NEW YORK -The U.S. administration on Friday ended duty-free imports of packages worth less than $800, known as the “de minimis” exemption, a decision that increases costs for retailers around the world selling to the U.S. and will likely cause prices to rise for American shoppers. President Donald Trump …

Explainer-What the end of the de minimis exemption means for US shoppers and businesses Read More »

SINGAPORE (Reuters) -Thailand’s Constitutional Court dismissed Prime Minister Paetongtarn Shinawatra from office on Friday for an ethics violation after only a year in power, catapulting the Southeast Asian country into a new period of turmoil and uncertainty. Thailand’s SET index has lost more than 11% this year, making it the worst performing stock market in …

Analyst reaction to Thai court sacking PM Paetongtarn Shinawatra Read More »