Reuters Asia Business

(Reuters) -European prosecutors have uncovered a criminal scheme involving false documentation of Chinese imports to Europe through the Greek port of Piraeus that defrauded authorities of about 700 million euros ($820 million) in lost customs duties and VAT revenue. The investigation carried out by the European Public Prosecutor’s Office (EPPO) spans 14 EU countries and …

EU prosecutors uncover criminal scheme involving Chinese imports via Greece Read More »

By Helen Reid and Greta Rosen Fondahn LONDON/STOCKHOLM (Reuters) -H&M is trying to win shoppers from rivals in the United States by holding prices steady while Zara and Shein raise theirs, as U.S. tariffs disrupt the fast-fashion industry that relies on imports of low-cost clothes from China, Vietnam, and other Asian countries. H&M CEO Daniel …

H&M seeks to lure US shoppers as fast-fashion rivals hike prices due to tariffs Read More »

By Himanshi Akhand (Reuters) -Investors trimmed long positions in most Asian currencies as the conflict between Israel and Iran pushed oil prices higher and drove safe-haven flows into the U.S. dollar, a Reuters poll showed on Thursday. Bullish bets on the South Korean won, the Taiwan dollar, the Indonesian rupiah and the Malaysian ringgit eased …

Asia FX bulls retreat after Middle East conflict dents risk appetite: Reuters poll Read More »

JAKARTA (Reuters) -Indonesia energy minister on Thursday said an additional 30,000 barrels oil per day (bpd) have been produced at the Exxon Mobil-operated Cepu block, as the country strives to counter declining national oil output. Indonesia targeted oil lifting stands at 605,000 bpd this year, but figures for January-May showed production at 567,900 bpd, with …

Indonesia says Exxon boosts production in Cepu block Read More »

By Fransiska Nangoy JAKARTA (Reuters) -The withdrawal of the United States from an international collaboration to help developing countries move away from coal will have a limited impact on Indonesia, the country’s top official for the initiative said on Thursday. The U.S. withdrew from the Just Energy Transition Partnership (JETP) of 10 donor nations this …

US withdrawal from Indonesia coal phase-down plan to have limited impact, official says Read More »

By Stefanno Sulaiman JAKARTA (Reuters) -Indonesia is working on a new regulation that will require e-commerce platforms to collect and pass on sellers’ sales income in a bid to tackle the “shadow economy”, its tax office said on Thursday, confirming a Reuters report earlier this week. Citing sources, Reuters reported exclusively on Tuesday about a …

Indonesia working on new e-commerce tax rule in bid to target ‘shadow economy’ Read More »