Reuters Asia Business

By Ziyi Tang and Engen Tham BEIJING/SHANGHAI (Reuters) – Bank of China beat forecasts on Wednesday with a 2.6% rise in 2024 net profit, thanks to growth in trading gains and falling impairment losses, though asset quality and margin pressures persist. Profit climbed to 237.84 billion yuan ($32.74 billion) from 231.90 billion yuan in 2023, …

Bank of China’s 2024 profit beat forecasts, while margin pressure persists Read More »

By Rishav Chatterjee (Reuters) -Chinese billionaire Wang Yusuo’s ENN Group is aiming to buy the rest of clean energy company ENN Energy, valuing the firm at HK$90.50 billion ($11.64 billion), with the aim of streamlining operations in its natural gas business ENN Natural Gas, which currently holds a 34.28% stake in ENN Energy, is proposing …

ENN Group looks to takeover ENN Energy, values it at $11.6 billion Read More »

By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) -Siemens Energy will sell 90% of its wind turbine business in India and Sri Lanka to an investor group led by the climate investment arm of buyout group TPG, in the latest move aimed at fixing its struggling renewables division. Siemens Gamesa, Siemens Energy’s loss-making wind turbine …

Siemens Energy sells most of Indian wind unit in latest revamp Read More »

By Yuka Obayashi and Katya Golubkova TOKYO (Reuters) -Tokyo Gas aims to nearly double its net profit in the 2025/26 fiscal year and plans to expand in the United States, Japan’s biggest city gas provider said on Wednesday. The company said it expects net profit to grow to 131 billion yen ($871 million) in the …

Tokyo Gas expects net profit to nearly double in FY25/26 Read More »

By Sam Nussey and Miho Uranaka TOKYO (Reuters) -Hillhouse Investment has hired co-heads for its Japan real estate investment business, a person familiar with the matter said, as it bulks up its operations there. Hillhouse has hired Jeremy Bleackley and Wataru Goto as co-heads of Japan for Rava Partners, the person said. The two join …

Hillhouse hires Japan co-heads for real estate investment arm from Blackstone, source says Read More »

By Daniel Leussink ATSUGI, Japan (Reuters) -Nissan plans to dramatically cut its car development time to boost its competitiveness, the struggling automaker’s incoming CEO Ivan Espinosa said on Wednesday. Japan’s third-largest automaker currently takes about 55 months to develop a completely new vehicle. “We are slow. This is one of the things we have to …

Nissan’s new CEO intends to slash its vehicle development time Read More »