Reuters Asia Business

Exclusive-Indian refiners cancel palm oil orders for July-Sept as prices surge

18 Jun 2025

By Rajendra Jadhav MUMBAI (Reuters) -Indian refiners cancelled orders for 65,000 metric tons of crude palm oil (CPO) scheduled for delivery from July to September following a sudden surge in benchmark Malaysian prices, four trade sources told Reuters. Refiners in the world’s largest palm oil importer cancelled the orders in the past three days after …

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LME’s new Hong Kong warehouses attract strong interest for metal deliveries, LME CEO says

18 Jun 2025

By Eric Onstad LONDON (Reuters) -The London Metal Exchange’s new warehouses in Hong Kong are seeing strong interest for metal deliveries before they go live next month, partly due to the current tightness in the copper market, the CEO of the exchange said on Wednesday. Last month, the LME approved three more warehouses in Hong …

LME’s new Hong Kong warehouses attract strong interest for metal deliveries, LME CEO says Read More »

Ride-hailer Careem to suspend decade-old Pakistan service

18 Jun 2025

By Ariba Shahid ISLAMABAD (Reuters) -Careem, Uber’s ride-hailing arm in the Middle East, will suspend its Pakistan service on July 18, citing economic challenges, rising competition, and capital constraints, ending its core business in a country where it helped pioneer app-based transport nearly a decade ago. The move underscores strain on Pakistan’s digital economy, as …

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Malaysia to build 50% more gas-fired power capacity to meet data centre demand, official says

18 Jun 2025

By Sudarshan Varadhan and Ashley Tang KUALA LUMPUR (Reuters) -Malaysia is expected to add 6-8 gigawatts of gas-fired power by 2030 to address growing electricity consumption driven by demand from data centres, an industry official said. The country is expected to see the fastest surge in data centre power demand in southeast Asia, with its …

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AirAsia owner seeks jets for growth but restructuring first priority, CEO says

18 Jun 2025

By Tim Hepher and Lisa Barrington PARIS/SEOUL (Reuters) -Airline entrepreneur Tony Fernandes, CEO of AirAsia owner Capital A Group, said on Wednesday he is in talks to buy 50 to 70 Airbus A321XLR jetliners, but signalled the first priority was to complete the group’s restructuring. Asia’s largest low-cost carrier also remains in talks to buy …

AirAsia owner seeks jets for growth but restructuring first priority, CEO says Read More »

China issues guidelines for Shanghai international financial centre

18 Jun 2025

BEIJING (Reuters) -China issued guidelines for the development of the Shanghai international financial centre on Wednesday, the official Xinhua news agency reported. The country will facilitate cross-border trade and investment and push for more international financial organisations to set up in Shanghai, the Central Financial Commission said in the guidelines. China will also improve monitoring …

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China youth jobless rate drops to 11-month low in May

18 Jun 2025

BEIJING(Reuters) -The jobless rate for 16 to 24-year-olds in China, excluding college students, dropped to an 11-month low of 14.9% in May, data from the National Bureau of Statistics showed on Wednesday. The unemployment rate for 25 to 29-year-olds, excluding students, also slid slightly to 7.0% from 7.1% a month earlier, the data showed. (Reporting …

China youth jobless rate drops to 11-month low in May Read More »

China talks up digital yuan in push for multi-polar currency system

18 Jun 2025

SHANGHAI/BEIJING (Reuters) -The head of China’s central bank pledged to expand the international use of the digital yuan and called for the development of a multi-polar global currency system, where several currencies dominate the world economy. China will establish an international operation centre for e-CNY in Shanghai, People’s Bank of China Governor Pan Gongsheng said …

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Trump to extend TikTok sale deadline for third time, White House says

18 Jun 2025

By David Shepardson WASHINGTON (Reuters) -U.S. President Donald Trump will extend a June 19 deadline for China-based ByteDance to divest the U.S. assets of short video app TikTok for 90 days despite a law that mandated a sale or shutdown absent significant progress, the White House said on Tuesday. Trump had already twice granted a …

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Pakistan’s PIA sale draws interest from leading firms, army company ahead of deadline

18 Jun 2025

By Ariba Shahid and Saeed Shah ISLAMABAD (Reuters) -Two of Pakistan’s leading business groups and a company backed by the powerful military will bid for the country’s ailing national carrier, a divestment the government hopes will kickstart the privatisations of state-owned enterprises. The sale of Pakistan International Airlines will be the first major privatisation for …

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