Reuters Asia Business

Baidu’s Apollo teams with Car Inc to launch autonomous driving rental service

8 May 2025

BEIJING (Reuters) -Chinese tech giant Baidu’s smart driving unit Apollo said on Thursday that it would team up with local auto rental firm Car Inc to launch a “first-of-its-kind” autonomous driving rental service. Under an agreement signed in Beijing on Thursday, the two companies will “jointly promote the application of autonomous driving technology” in cities, …

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Exclusive-BYD aims to sell half its cars outside China by 2030, sources say

8 May 2025

By Brenda Goh and Nick Carey SHANGHAI/LONDON (Reuters) -BYD, China’s No. 1 automaker, aims to sell half of its vehicles outside the Chinese market by 2030, a massive increase that would make it a rival to the world’s largest automakers, according to four people familiar with the matter. The growth would be fueled by expansion …

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Toyota sees 21% full-year profit decline as tariffs take a bite

8 May 2025

By Daniel Leussink TOKYO (Reuters) -Toyota Motor expects profit to decline by a fifth in the current financial year, it said on Thursday, as weakness in the U.S. dollar and the impact of President Donald Trump’s tariffs weigh on the world’s largest automaker. In the latest example of how global trade disruption is hitting bottom …

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Taiwan April exports jump 30% ahead of U.S. tariffs, strong H1 seen

8 May 2025

TAIPEI (Reuters) -Taiwan’s exports rose more than expected in April as customers stockpiled the island’s high-tech products before any U.S. tariffs take effect, which could drive first-half exports to a new high. Exports jumped 29.9% from the same month a year ago to $48.66 billion, the second-highest monthly figure on record, the Finance Ministry said …

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Grab looks to strike a deal to acquire Indonesia’s GoTo in Q2, sources say

8 May 2025

By Yantoultra Ngui, Kane Wu and Fanny Potkin SINGAPORE/HONG KONG (Reuters) – U.S.-listed ride-hailing and food delivery company Grab is looking to strike a deal to take over smaller Indonesian rival GoTo in the second quarter, two sources with knowledge of the matter said. Singapore-headquartered Grab has hired advisers to work on the proposed deal, …

Grab looks to strike a deal to acquire Indonesia’s GoTo in Q2, sources say Read More »

Japan’s Nidec gives up hostile takeover of Makino Milling Machine

8 May 2025

TOKYO (Reuters) -Japan’s Nidec Corp said on Thursday it was withdrawing its bid for Makino Milling Machine, giving up on its unsolicited takeover plan after Makino threatened to mount a “poison pill” takeover defence. Nidec said in a statement its board decided to withdraw the April 4 tender offer effective Friday. “Maintaining the tender offer …

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Malaysia keeps rates steady, cuts reserve requirement ratio as growth outlook dims

8 May 2025

By Danial Azhar KUALA LUMPUR (Reuters) – Malaysia’s central bank kept its benchmark interest rate steady on Thursday but warned of weaker economic growth due to trade tensions, which analysts say will lead to rate cuts later in the year.   The dovish policy outlook was reinforced when the central bank said it will lower banks’ statutory …

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Brewer AB InBev’s profit surges ahead of forecasts, shares rise

8 May 2025

By Emma Rumney LONDON (Reuters) -Anheuser-Busch InBev reported a 7.9% rise in first-quarter operating profit on Thursday, more than double the increase expected by analysts, as the world’s biggest brewer boosted its profit margin despite a fall in sales volumes. Analysts had expected the beer maker to report a 3.1% rise in organic operating profit …

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