Reuters Asia Business

Hong Kong’s CK Hutchison under fire after China criticism of ports sale to US

14 Mar 2025

By Clare Jim and James Pomfret HONG KONG (Reuters) -China’s Hong Kong and Macau Affairs Office (HKMAO) reposted a commentary criticising CK Hutchison’s port deal with U.S. firm BlackRock as a betrayal of China, sending shares of the Hong Kong-based conglomerate sharply lower on Friday. The repost of the critical state media commentary by China’s …

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The big currency winners of 2025 so far do not include the dollar

14 Mar 2025

LONDON (Reuters) – Donald Trump’s second presidency is having a dramatic impact on currencies around the world, though not in the way investors anticipated just a few months ago.  The dollar has weakened this year against all other developed market currencies, except Canada’s, on concern that tariff uncertainty is harming the U.S. economy. “Tariffs, generally …

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Exclusive-Tesla plans Model Y costing at least 20% less to produce to defend China share, sources say

14 Mar 2025

SHANGHAI (Reuters) -Tesla will make a lower-cost version of its best-selling Model Y in Shanghai, three people with knowledge of the matter said, aiming to regain ground lost during a price war in its second-largest market. The U.S. electric vehicle maker is developing the model under a project codenamed “E41” and will build it using …

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Discounts in India hit 8-month high as record prices weigh on demand

14 Mar 2025

By Rajendra Jadhav and Rahul Paswan (Reuters) – Gold discounts in India widened this week to their highest point in nearly eight months, as a surge in prices to a record high dampened demand, while customers in other key hubs also remained on the sidelines. “Jewellers all over are seeing fewer customers. Demand’s taken a …

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Indonesia plans launch of forestry-based carbon offset trade soon, Antara reports

14 Mar 2025

JAKARTA (Reuters) – Indonesia plans to launch sales of carbon offsets from its forestry sector soon, while authorities work on recognising existing international standards, state news agency Antara reported. The Southeast Asian country stopped cross-border carbon trade in late 2021, wanting to prioritise meeting its own carbon reduction targets as it sets up broad rules …

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Hong Kong’s AIA misses VONB estimates, unveils $1.6 billion buyback

14 Mar 2025

By Adwitiya Srivastava and Aaditya GovindRao (Reuters) – Hong-Kong based insurer AIA on Friday posted an 18% rise in annual value of new business (VONB) but missed estimates, while announcing a $1.6 billion share buyback that analysts said fell short of market expectations. The company’s shares fell as much as 4.2% by 0615 GMT, hitting …

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Exclusive-China state firms curb Russian oil imports on sanctions risks, sources say

14 Mar 2025

By Chen Aizhu and Florence Tan SINGAPORE (Reuters) – Chinese state oil companies are shying away from Russian oil this month, with two importers halting purchases while two others scaled back volumes as they assess compliance following recent U.S. sanctions on Moscow, multiple trade sources said. Russian oil supplies to top buyers India and China …

Exclusive-China state firms curb Russian oil imports on sanctions risks, sources say Read More »

Indonesia issues telco permits for five Apple iPhone 16 models

14 Mar 2025

JAKARTA (Reuters) -Indonesia has issued telecommunications permits for five different models of Apple’s iPhone 16, the communications ministry said on Friday, a step towards allowing sales after a domestic ban.      The permit issue came a week after Indonesia issued local content certificates for 20 Apple products including iPhone 16.  Apple still needs an …

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Oracle mulls data center investment in Indonesia’s Batam Island, Bloomberg News reports

14 Mar 2025

(Reuters) -Oracle Corp is in discussions with the Indonesian government to establish a cloud services center in the country’s Batam Island, Bloomberg News reported on Friday, citing people familiar with the matter. Nongsa Digital Park in Batam is favoured as a location considering its “free trade zone” status and its proximity to city-state of Singapore …

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Russia leans on cryptocurrencies for oil trade, sources say

14 Mar 2025

By Anna Hirtenstein and Chen Aizhu (Reuters) – Russia is using cryptocurrencies in its oil trade with China and India to skirt Western sanctions, according to four sources with direct knowledge of the matter. While Russia has publicly encouraged the use of crypto and last summer passed a law to allow digital currency payments in international …

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