Reuters Asia Business

Aeon Financial says its M&A deal with Vietnam’s SeABank is invalid

6 Jun 2025

TOKYO (Reuters) -Aeon Financial Service said on Friday that its deal to buy a financial company owned by Vietnam’s Southeast Asia Commercial Joint Stock Bank was invalid due to “inappropriate accounting transactions.” The Japanese financial services company, a subsidiary of the Aeon retail group, in February completed the acquisition of Post and Telecommunication Finance, a …

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India, central Asian countries express interest in joint rare earths exploration

6 Jun 2025

NEW DELHI (Reuters) -India and five central Asian countries have expressed interest in joint exploration of rare earths and critical minerals, they said in a joint statement on Friday after the fourth meeting of the India-Central Asia Dialogue, held in New Delhi. The announcement comes amid global alarm over China’s decision to curb exports of …

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Hong Kong shareholder Oasis to push Toyota Motor to raise bid for Toyota Industries

6 Jun 2025

TOKYO (Reuters) -Hong Kong-based Oasis Management, a shareholder in both Toyota Motor and Toyota Industries, will push for the Japanese automaker to make a higher offer to take Toyota Industries private, its chief investment officer Seth Fisher said on Friday. Toyota Motor announced its plan for the $33 billion take-private offer on Wednesday, sending Toyota …

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HSBC Chair Tucker to return to Asia insurer AIA after overseeing bank overhaul

6 Jun 2025

By Scott Murdoch and Rishav Chatterjee (Reuters) -HSBC Holdings’ high-profile Chairman Mark Tucker will return to the insurance sector as chair of Hong Kong-based AIA Group, after having presided over top management changes and navigated Sino-U.S. tensions at the Asia-focused lender. Tucker will depart HSBC by September 30 and will step into the role of …

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China’s Sinomine halts Namibia copper smelter, citing concentrate shortage due to global ‘overcapacity’

6 Jun 2025

WINDHOEK (Reuters) – China’s Sinomine Resource Group said on Friday it has temporarily paused copper smelting operations at its Tsumeb plant in Namibia, citing a shortage of concentrate following a rapid expansion in smelter capacity worldwide. Sinomine acquired the Tsumeb smelter, one of the few facilities in the world that can treat arsenic and lead-bearing …

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China’s rare earth weapon changes contours of trade war battlefield

6 Jun 2025

By Laurie Chen BEIJING (Reuters) -China has signalled for more than 15 years that it was looking to weaponise areas of the global supply chain, a strategy modelled on longstanding American export controls Beijing views as aimed at stalling its rise. The scramble in recent weeks to secure export licences for rare earths, capped by …

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Australian resorts operator GemLife considering ASX debut, co-owner Thakral says

6 Jun 2025

(Reuters) – Australian resorts business GemLife is considering listing on the Australian stock exchange, co-owner Thakral Corporation said on Friday. Thakral said there is no assurance that the proposed initial public offering (IPO) will proceed, and that the size and timeline of the IPO are not disclosed. GemLife is owned by Australia’s affluent Puljich family’s …

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Nasdaq-bound Hotel101 eyes expansion into Latin America, Oceania, CEO says

6 Jun 2025

SINGAPORE (Reuters) -Hotel101 Global, a unit of Philippine-listed real estate company DoubleDragon, is looking to expand into Latin America and Oceania in addition to growing its presence in existing regions including Asia, its CEO Hannah Yulo-Luccini told Reuters on Friday.Last month, Hotel101 entered into a partnership with Saudi Arabia-based Horizon Group to build 10,000 rooms …

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China’s yuan slips to 2-year low versus peers after Trump-Xi call leaves issues unresolved

6 Jun 2025

SHANGHAI (Reuters) – China’s yuan slipped against the dollar while falling to a near two-year low versus its major trading partners on Friday, as U.S. President Donald Trump and Chinese leader Xi Jinping held a much-anticipated call but left key issues that have stoked tensions between the world’s two largest economies unresolved. During the more …

China’s yuan slips to 2-year low versus peers after Trump-Xi call leaves issues unresolved Read More »

Japan’s government to say it is not relying on tax cuts to boost income

6 Jun 2025

By Makiko Yamazaki and Takaya Yamaguchi TOKYO (Reuters) -Japan’s government is distancing itself from tax cuts in its annual policy guidelines, amid heightened volatility in the government debt market driven partly by concerns about the country’s tattered finances. The draft of the annual economic and fiscal policy guidelines, presented on Friday, stated that Japan will …

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