Reuters Asia Business

Markets ask how soon Nippon Steel will benefit from $15 billion bid for U.S. Steel

29 May 2025

By Katya Golubkova and Anton Bridge TOKYO (Reuters) -Nippon Steel investors and analysts are asking if its $15-billion deal to buy U.S. Steel, backed but not yet approved by President Donald Trump, is positive for the near term, even if its hopes for strong U.S. demand materialise. Such a merger would create the world’s third-largest …

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Hanoi bans The Economist’s printed issue with Vietnam’s top leader on cover, say distributor sources

29 May 2025

(Reuters) – The Economist’s latest printed edition for Asia featuring Vietnam’s top leader To Lam on its cover has been banned in Vietnam, sources at two local media distributors told Reuters, in a new instance of censorship in the Communist-run country. The May 24 issue, which is still available in the country in its electronic …

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US curbs chip design software, chemicals, other shipments to China

29 May 2025

By Karen Freifeld (Reuters) -The United States has ordered a broad swathe of companies to stop shipping goods to China without a license and revoked licenses already granted to certain suppliers, said three people familiar with the matter. The new restrictions – which are likely to escalate tensions with Beijing – appear aimed at choke …

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Singapore’s Keppel appoints ex-DBS CEO Piyush Gupta as deputy chairman

29 May 2025

(Reuters) -Singapore-based manager and asset operator Keppel said on Thursday it has appointed ex-DBS Group CEO Piyush Gupta as its deputy chairman, effective July 1. Gupta left DBS, Southeast Asia’s largest lender by assets, in March this year after serving as CEO for around 15 years. Before joining DBS, he was Citi’s CEO for its …

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Saudi Arabia’s ACWA Power signs MoU to develop renewables capacity in Malaysia

29 May 2025

DUBAI (Reuters) -Saudi Arabia’s ACWA Power said on Thursday it had signed a preliminary agreement to develop up to 12.5 gigawatts of renewable energy generating capacity in Malaysia with an initial investment of up to $10 billion. The renewable energy utility said in a statement it agreed a memorandum of understanding with the Malaysian Investment …

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Taiwan central bank will take ‘timely’ steps to ensure financial stability

29 May 2025

TAIPEI (Reuters) -Taiwan’s central bank will take “timely” measures to ensure financial stability in the face of uncertainty over U.S. tariffs, geopolitical conflict, climate change and market volatility, it said on Thursday. In its annual financial stability report, the central bank said the uncertainty could adversely affect global economic development and pose risks to Taiwan’s …

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Indonesia antitrust agency finds risk of monopoly from TikTok’s Tokopedia takeover

29 May 2025

JAKARTA (Reuters) -Indonesia’s antitrust agency on Wednesday said last year’s takeover of the country’s biggest e-commerce platform Tokopedia by TikTok carried a risk of monopoly.  TikTok, owned by China’s ByteDance, in January 2024 completed a deal to buy 75.01% of Tokopedia for $840 million from GoTo. The antitrust agency said it had found during its …

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Asia jet fuel exports to US West Coast to hit 1-year high in May

29 May 2025

By Trixie Yap and Shariq Khan SINGAPORE/NEW YORK (Reuters) -Asia’s jet fuel exports to the U.S. West Coast are expected to hit at least a one-year high in May, according to shiptracking data and three trade sources, as refinery outages in California boosted prices and import demand. The exports for May, mostly from South Korea, …

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Japan likely held off US Treasury sales, says ex-BOJ policymaker

29 May 2025

By Leika Kihara TOKYO (Reuters) -Japan likely held off selling from its huge U.S. Treasury holdings as there is no alternative investment given the dollar’s status as a global reserve currency, former Bank of Japan (BOJ) policymaker Sayuri Shirai said on Thursday. Japan and China are the two largest holders of U.S. Treasuries, making their …

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