Reuters Asia Business

By Lisa Baertlein LOS ANGELES (Reuters) -U.S. seaborne imports of goods from China dropped 28.5% year-over-year in May, the sharpest decline since the pandemic, as President Donald Trump’s 145% tariffs took hold, supply chain technology provider Descartes said on Monday. China is the top U.S. supplier of goods that enter through seaports, including the nation’s …

US ocean container imports tumble in May as China tariffs take hold Read More »

By Phuong Nguyen and Akash Sriram (Reuters) -Vietnamese electric vehicle maker VinFast reported on Monday its sixth consecutive quarterly net loss as it continues to ramp up spending to boost sales volumes. VinFast reported a net loss of $712.4 million for the first quarter, less than the $1.3 billion loss in the previous quarter but …

EV maker VinFast’s Q1 loss widens on higher spending as deliveries rise Read More »

(Reuters) -Singapore-based ride-hailing and delivery company Grab said on Monday it was not in any talks on a potential deal with smaller Indonesian rival GoTo. Reuters reported last month that Nasdaq-listed Grab was looking to strike a deal to buy GoTo in the second quarter and had hired advisers to work on the proposed deal, …

Singapore’s Grab denies reports of talks with Indonesia’s GoTo for a potential deal Read More »

BEIJING/SHANGHAI (Reuters) -Fierce competition among China’s leading EV makers has intensified, with a long-running dispute between BYD and Great Wall Motor over emissions compliance escalating after Geely joined in to criticise BYD’s aggressive price cuts. The row dates back to 2023, when Great Wall Motor reported BYD to Chinese regulators, alleging that its two best-selling …

China’s EV makers turn on BYD as price war escalates Read More »

KUALA LUMPUR (Reuters) -Malaysia will revise its sales tax rate and also widen the scope of its services tax from July 1, the finance ministry said on Monday, as the government looks to boost its revenue and strengthen its fiscal position.  A sales tax rate of 5% to 10% will be imposed on non-essential and luxury …

Malaysia to introduce revised sales tax, expand services tax from July 1 Read More »

By Dhwani Pandya and Helen Reid MUMBAI/LONDON (Reuters) -Fashion retailer Shein and partner Reliance Retail plan to rapidly expand their Indian supplier base and start international sales of India-made Shein-branded clothes within six to 12 months, said two people with knowledge of the matter. The China-founded, Singapore-headquartered Shein has been discussing plans with the Indian …

Exclusive-Shein and Reliance aim to sell India-made clothes abroad within a year, sources say Read More »