Reuters Asia Business

By Trevor Hunnicutt and Khanh Vu WASHINGTON/HANOI (Reuters) -The United States will place a lower-than-promised 20% tariff on many Vietnamese exports, Donald Trump said on Wednesday, cooling tensions with its tenth-biggest trading partner days before the U.S. president could raise levies on most imports. Vietnamese goods would face a 20% tariff and trans-shipments from third …

Trump says he will put 20% tariff on Vietnam’s exports Read More »

By Phuong Nguyen and Khanh Vu HANOI (Reuters) -Vietnam hailed a long-awaited trade deal with the United States as a breakthrough on Thursday and said negotiators were working to finalise details, as business groups awaited clarity on the finer points to assess the impact of the new tariffs.    The agreement, announced by U.S. President Donald …

Vietnam hails US pact a boost for business as firms await deal details  Read More »

(Reuters) -India’s Oil and Natural Gas Corporation said on Thursday it has signed an agreement with Japan’s second-largest shipping company, Mitsui O.S.K. Lines, to build and operate two very large ethane carriers (VLECs). Under the agreement, the VLECs will ship imported ethane to ONGC Petro additions Ltd (OPaL), a unit of ONGC that operates a …

India’s ONGC signs deal with Japan’s Mitsui OSK to build ethane carriers Read More »

By Makiko Yamazaki and Kentaro Sugiyama TOKYO (Reuters) -Japanese companies agreed to raise wages by an average 5.25% this year, their biggest pay hike in 34 years and the third straight year of robust growth as they grapple with severe labour shortages and seek to shield workers from inflation. The final figure tallied on Thursday …

In labour-starved Japan, workers land another bumper pay hike Read More »

By Stefanno Sulaiman JAKARTA (Reuters) -Indonesia will sign a pact worth $34 billion with business partners next week to boost purchases from the U.S., as part of efforts to strike a trade deal with Washington ahead of the July 9 deadline, Indonesia’s chief economic minister said on Thursday. The deal would include increasing imports of …

Indonesia says it will sign $34 billion pact with US partners ahead of tariff talks deadline Read More »

By Jihoon Lee and Joyce Lee SEOUL (Reuters) – South Korea’s parliament passed on Thursday a revision to the Commercial Act to expand the fiduciary duty of board members to protect the interests of minority shareholders and try to boost the country’s corporate market valuations.    President Lee Jae Myung, who was elected last month, had …

South Korea passes commercial bill revision to tackle ‘Korea discount’ Read More »

By Leika Kihara TOKYO (Reuters) -The Bank of Japan should focus on working with the government to boost domestic demand and revitalise the economy, Souhei Kamiya, head of the small opposition party Sanseito, said on Thursday, criticising the central bank’s quantitative tightening plan. “I understand that Japan shouldn’t issue an unlimited amount of government bonds. …

Japan dark-horse opposition criticises BOJ’s quantitative tightening plan Read More »

By Yuka Obayashi TOKYO (Reuters) -Japan’s Nippon Steel said on Wednesday it would raise 800 billion yen ($5.6 billion) through two subordinated loans to partially fund its recent $14.9 billion acquisition of U.S. Steel and refinance previous loans. Japan’s biggest steelmaker will use a 500 billion yen subordinated loan to partially repay a 2 trillion …

Nippon Steel to raise $5.6 billion in subordinated loans to fund U.S. Steel deal Read More »