Reuters Asia Business

CK Hutchison invested $1.7 billion in Panama, surpassing obligations, it says

9 Apr 2025

By Marianna Parraga and Roshan Thomas (Reuters) – A company controlled by Hong Kong-based CK Hutchison has invested $1.7 billion in two ports near the Panama Canal, it said on Wednesday, surpassing the amount required under its contract, which is being audited by Panamanian authorities. Panama Ports Company (PPC), in which CK Hutchison owns a …

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China hits back at Trump tariff hike, raises duties on US goods

9 Apr 2025

By Joe Cash, Yukun Zhang and Ethan Wang BEIJING (Reuters) – China hit back at U.S. President Donald Trump singling out the world’s second-largest economy for tariffs of more than 100% by raising additional duties on American products to 84% on Wednesday, deepening the trade war between the two superpowers. Beijing also imposed restrictions on …

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China slaps restrictions on 18 US firms over Trump tariffs

9 Apr 2025

By Eduardo Baptista BEIJING (Reuters) -China’s commerce ministry slapped restrictions on more than a dozen U.S. defence firms on Wednesday after President Donald Trump made good on his threat to impose an additional 50% tariff on Chinese imports. Beijing added 12 U.S. companies to a control list that prohibits exports of dual-use items and another …

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Pakistan turns to bitcoin miners, AI data centers to use surplus power

9 Apr 2025

By Ariba Shahid ISLAMABAD (Reuters) – Pakistan plans to allocate part of its surplus electricity to Bitcoin mining and AI data centres, the head of Pakistan’s Crypto Council and adviser to the finance minister said on Wednesday, adding it had held talks with several mining firms. Pakistan’s energy sector is grappling with challenges, including high …

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China’s premier vows more proactive macroeconomic policies amid ‘external shocks’

9 Apr 2025

BEIJING (Reuters) – China needs to implement more proactive macroeconomic policies and roll them out in a timely manner as “external shocks” have put pressures to China’s economic stabilisation, Premier Li Qiang said on Wednesday, according to state media. During a symposium with economists and entrepreneurs, Li stressed that the country’s economic work in the …

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China petchem plants face shutdown as tariffs on US LPG loom

9 Apr 2025

By Chen Aizhu, Trixie Yap and Mohi Narayan SINGAPORE/NEW DELHI (Reuters) – Chinese petrochemical makers that buy $11 billion worth of U.S. liquefied petroleum gas (LPG) annually are poised to cut output or shut for maintenance in coming weeks as Beijing’s retaliatory tariffs on U.S. imports drive up costs, industry insiders said. The industry of …

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China trade escalation unfortunate, loss for them, US Treasury secretary says

9 Apr 2025

WASHINGTON (Reuters) – China’s move to impose 84% retaliatory tariffs against the United States is unfortunate and a losing proposition for Beijing, U.S. Treasury Secretary Scott Bessent said on Wednesday. “I think it’s unfortunate that the Chinese actually don’t want to come and negotiate, because they are the worst offenders in the international trading system,” …

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China Mobile’s HK unit scoops over 15% stake in HKBN for $155 million

9 Apr 2025

(Reuters) – China Mobile on Wednesday said it will acquire a 15.5% stake in Hong Kong-based broadband service provider HKBN for HK$1.20 billion ($154.64 million) through its regional unit. Under the deal, China Mobile Hong Kong (CMHK) will purchase approximately 145 million shares from TPG Wireman for about HK$758.2 million. It will also acquire debt …

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Indonesia’s palm oil groups urge levy cuts to offset US tariff impact

9 Apr 2025

JAKARTA (Reuters) – Indonesia’s palm oil industry and farmer groups on Wednesday urged the government to reduce export costs, to offset the impact of market distortion caused by 32% U.S. reciprocal tariffs on Indonesia’s exports. Palm smallholders’ group SPKS called on the government to lower costs by removing an export tax and levy, saying the …

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