Reuters Asia Business

Pentagon’s AI metals program goes private in bid to boost Western supply deals

2 May 2025

By Ernest Scheyder (Reuters) -A U.S. government-created artificial intelligence program that aims to predict the supply and price of critical minerals has been transferred to the control of a non-profit organization that is helping miners and manufacturers strike supply deals. Launched in late 2023 by the U.S. Department of Defense, the Open Price Exploration for …

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Malaysia’s Petronas accused of breaching Sarawak state law, media says

2 May 2025

KUALA LUMPUR (Reuters) -Malaysia’s state-owned energy firm Petronas said on Friday its subsidiary Petronas Carigali had received notices from the Sarawak state government about its activities in the state, with local media reporting it does not have proper permits. Petronas said the notices regarded its gas processing and distribution rights, but did not give other …

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India asks IMF to review loans to Pakistan, Indian government source says

2 May 2025

By Sarita Chaganti Singh and Ariba Shahid NEW DELHI/KARACHI (Reuters) – India has asked the International Monetary Fund to review loans disbursed to Pakistan, an Indian government source told Reuters on Friday, as tensions between the South Asian neighbours escalated following a deadly attack in Kashmir. India and Pakistan have announced a raft of measures …

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Itochu reports record annual profit helped by textiles, FamilyMart

2 May 2025

TOKYO (Reuters) -Japanese trading house Itochu reported on Friday a record annual net profit of 880.3 billion yen ($6 billion), bolstered by its textile, food, and FamilyMart convenience store units. Profit rose 10% from the previous year, although it was slightly below an LSEG poll’s forecast for a 887 billion yen net profit for the …

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Hong Kong March retail sales fall 3.5%, government sees challenges ahead

2 May 2025

HONG KONG (Reuters) -Hong Kong’s retail sales fell 3.5% by value in March from a year earlier, marking the 13th consecutive month of declines, government data showed on Friday. Sales dropped to HK$30.1 billion ($3.88 billion), with the percentage change narrowing from a 13% fall in February. In volume terms, March retail sales fell 4.8% …

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India’s Adani Power says hopeful Bangladesh will pay all outstanding dues

2 May 2025

(Reuters) -Bangladesh has substantially reduced its outstanding dues to India’s Adani Power related to a power-supply deal and the company is confident of recovering the roughly $900 million still remaining, its chief financial officer said. Bangladesh has struggled to pay its dues per the deal, signed in 2017, as imports got costly since the Russia-Ukraine …

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Japanese trading houses lure investors with healthy returns amid US tariff uncertainty

2 May 2025

By Yuka Obayashi and Katya Golubkova TOKYO (Reuters) -Japanese trading houses from Mitsubishi to Sumitomo Corp promised healthy shareholder returns this year amid cautious profit forecasts, trying to keep investors, including Warren Buffett, happy amid U.S. tariff uncertainty. Buffett’s Berkshire Hathaway is a large minority shareholder in Mitsubishi, Mitsui, Sumitomo, Itochu and Marubeni. It has …

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Investors sell U.S. shares in past week flock to Japan, Europe, BofA note shows

2 May 2025

LONDON (Reuters) – Investors sold U.S. stocks in the week ending Wednesday and bought Japanese and European shares, BofA Global Research said on Friday. U.S. equities saw an $8.9 billion outflow in the week, BofA said in its regular round up of flows in and out of world markets that uses data from EPFR, but …

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