Reuters Asia Business

Singapore’s Koh Brothers bags $776 million contract to build tunnels at Changi airport

10 Jun 2025

(Reuters) -Singapore’s Koh Brothers Eco Engineering said on Tuesday its unit secured a S$999 million ($776.77 million) contract from Changi Airport Group to construct intraterminal tunnels at the airport’s upcoming fifth terminal. Koh Brothers said its unit, Koh Brothers Building & Civil Engineering Contractor, will carry out the contract through an integrated joint venture with …

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Taiyo Oil buys first Russian crude in more than two years on government request

10 Jun 2025

By Yuka Obayashi TOKYO (Reuters) -Japanese refinery Taiyo Oil has bought its first Sakhalin Blend crude from Russia in more than two years at the Japanese government’s request, it said on Tuesday, to help ensure the stability of a plant also supplying Japan with liquefied natural gas. Japan last imported Russian crude in February 2023, …

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Why China’s auto, tech giants threaten Tesla’s self-driving future

10 Jun 2025

AUSTIN, Texas (Reuters) -Chinese electric-vehicle makers led by BYD beat Tesla in the competition to produce affordable electric vehicles. Now, many of those same fierce competitors are pulling into the passing lane in the global race to produce self-driving cars. BYD shook up China’s smart-EV industry earlier this year by offering its “God’s Eye” driver-assistance …

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Price wars grip China as deflation deepens, $30 for a luxury Coach bag?

10 Jun 2025

By Liangping Gao and Casey Hall BEIJING/SHANGHAI (Reuters) – Chinese energy sector worker Mandy Li likes to treat herself to a luxury brand handbag once in a while. But since her state-owned employer cut her wage by 10% and the properties her family owns lost half their value, she only buys second-hand ones. “I’m cutting …

Price wars grip China as deflation deepens, $30 for a luxury Coach bag? Read More »

Indonesia revokes nickel ore mining permits in Raja Ampat after protest

10 Jun 2025

JAKARTA (Reuters) -Top nickel ore producer Indonesia revoked permits for four mining firms in Raja Ampat in its easternmost region of Papua, the country’s energy minister said on Tuesday, after concerns about their environmental impact sparked a public outcry. Protests against mining in Raja Ampat, a picturesque UNESCO-designated Global Geopark known for its marine biodiversity, …

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South Korea appoints ex-trade chief Yeo Han-koo as new trade minister

10 Jun 2025

SEOUL (Reuters) -South Korea appointed former chief trade envoy Yeo Han-koo as its top trade negotiator, the president’s office said on Tuesday, as Asia’s fourth largest economy prepares for negotiations with Washington to reduce the tariffs. The U.S. imposed 25% levies on South Korea on April 2, one of the highest tariffs for a U.S. …

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Expanding missile threats and airspace closures are straining airlines

10 Jun 2025

(Corrects paragraph 14 to clarify the incidents were unintentional) By Lisa Barrington, Shivansh Tiwary and Joanna Plucinska NEW DELHI (Reuters) -Proliferating conflict zones are an increasing burden on airline operations and profitability, executives say, as carriers grapple with missiles and drones, airspace closures, location spoofing and the shoot-down of another passenger flight. Airlines are racking …

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India’s external investment deficit a hurdle for rupee as Asia rides weak dollar’s coattails

10 Jun 2025

By Jaspreet Kalra and Nimesh Vora MUMBAI (Reuters) -The rupee is likely to lag most of its Asian peers in a softer dollar environment, analysts say, with the Indian currency weighed down by an imbalance between what the country owes and owns abroad. While currencies such as the Singapore dollar, Korean won and Taiwan dollar …

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Apple opens its AI to developers but keeps its broader ambitions modest

10 Jun 2025

By Stephen Nellis and Kenrick Cai CUPERTINO, California (Reuters) -Apple announced on Monday a slew of artificial intelligence features including opening up Apple Intelligence’s underlying technology in a modest update of its software and services as it lays the groundwork for future advances. The presentations at its annual Worldwide Developers Conference focused more on incremental …

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