Reuters Asia Business

SINGAPORE (Reuters) – China’s fuel oil imports rose 6.8% in the first two months of 2025 from the same period last year, data showed on Thursday, as traders rushed to deliver the shipments booked ahead of an increase in import taxes and lower tax rebates. Imports during January and February totalled 3.84 million metric tons, …

China’s fuel oil imports rise as traders rush deliveries amid tax policy changes Read More »

By Clare Jim HONG KONG (Reuters) -CK Hutchison on Thursday reported an 11% drop in underlying profit for 2024, as one of Hong Kong’s most powerful conglomerates becomes increasingly embroiled in a political row over the sale of its ports business to a BlackRock-led consortium. The telecoms-to-retail conglomerate, owned by billionaire Li Ka-shing, said this …

CK Hutchison posts 11% fall in profit as Panama ports deal saga ramps up Read More »

TOKYO (Reuters) -Japan’s Mitsubishi Motors, a junior partner of Nissan Motor, plans to outsource production of electric vehicles to Taiwan electronics contract manufacturer Foxconn, Kyodo News said on Thursday. The move is aimed to help the carmaker cut output costs and speed development of its product lineup, while Foxconn, formally called Hon Hai Precision Industry, …

Mitsubishi Motors plans to outsource EV production to Taiwan’s Foxconn, Kyodo says Read More »

SEOUL (Reuters) -South Korea’s parliament on Thursday passed a bill to reform the country’s $830 billion pension fund and delay the depletion of the state fund that has been on track to run out by the mid-2050s due to a rapidly ageing population. The bill’s passage marks the first time parliament has agreed to a …

South Korea approves reforms to shore up $830 billion state pension fund Read More »

By Mariko Katsumura MYOKO, Japan (Reuters) – Three winters from now, Japan’s snowy Myoko highlands will be home to a $1.4 billion mega-resort built by a Singaporean fund, with hotels charging some $1,350 a night. The project by Patience Capital Group (PCG) promises to create 1,000 jobs and spur winter tourism. But for many Myoko …

In Japan’s ski resort area of Myoko, trepidation as more foreign money pours in Read More »

(Reuters) -Potential buyers of Japan’s Seven & i and Canada’s Alimentation Couche-Tard’s U.S. stores have until the end of March to express interest and address antitrust concerns, Bloomberg News reported on Wednesday. Some potential buyers are engaged in the process, and have signed non-disclosure agreements, Bloomberg reported, citing people familiar with the matter. It did …

Deadline set for interest in Seven & i and Couche-Tard US stores, Bloomberg News reports Read More »

By Lewis Jackson BEIJING (Reuters) – China has not shipped any antimony to European Union countries since October, customs data showed on Thursday, after the dominant supplier imposed export controls that have fuelled a surge in global prices for the strategic metal. Accounting for almost half of global supply in 2023, China’s restrictions since last …

China export controls freeze antimony shipments to EU from October Read More »

HONG KONG (Reuters) -The Hong Kong Monetary Authority (HKMA) left its base rate unchanged at 4.75% on Thursday, in line with the U.S. Federal Reserve’s decision to keep rates steady. Major banks followed, with HSBC maintaining its best lending rate in Hong Kong at 5.25%, and Standard Chartered Bank keeping its Hong Kong dollar best …

Hong Kong central bank keeps base rate unchanged as Fed holds steady Read More »

KUALA LUMPUR (Reuters) – Microsoft will launch its first cloud region in Malaysia with three data centres by mid-year, the tech company said on Thursday, nearly a year after it announced a $2.2 billion investment in the Southeast Asian country. The data centres, known as the Malaysia West cloud, will be located in the greater …

Microsoft Malaysia to launch three data centres in Q2 2025 Read More »

BEIJING (Reuters) – Chinese search giant Baidu on Wednesday denied allegations it had suffered an internal data breach after a top executive’s teenage daughter posted personal details of other internet users online, sparking a controversy. The company, one of China’s largest cloud providers, was thrust into the spotlight last week after online users accused the …

China’s Baidu denies data breach after executive’s daughter leaks personal info Read More »