Reuters Asia Business

Singapore iron ore rises on optimism for increased China demand

11 Mar 2025

By Amy Lv and Lewis Jackson BEIJING (Reuters) -Singapore iron ore futures rose on Tuesday, driven by expectations of increased demand as steelmakers in the northern region of top consumer China are set to resume production following the conclusion of the annual parliament meeting. However, gains were capped by concerns over escalating global trade friction …

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Sri Lanka ‘welcomes’ investment opportunities from Adani, says official

11 Mar 2025

COLOMBO (Reuters) – Sri Lanka has not changed its stance on doing business with India’s Adani Group and welcomes investment opportunities from the conglomerate, the country’s cabinet spokesperson said on Tuesday. Gautam Adani, the chairman of the ports to power business group, and top executives of Adani Green were indicted by U.S. prosecutors last year …

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Indonesia’s central bank uses Ramadan sermons to preach on inflation

11 Mar 2025

By Stefanno Sulaiman MAJALENGKA, Indonesia (Reuters) – Waiting to break their fast during the Muslim holy month of Ramadan, clerics in the Indonesian town of Majalengka gathered for an unusual briefing on the subject of inflation, led by the country’s central bank. The address by a central bank official and two Muslim clerics in the …

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China’s Xpeng may invest up to $13.8 billion in humanoid robots, state media reports

11 Mar 2025

BEIJING (Reuters) – Chinese electric vehicle maker Xpeng sees humanoid robots as a long-term project and is considering large investments that could go up to 100 billion yuan ($13.80 billion), state media reported its CEO as saying on Monday. CEO He Xiaopeng said on the sidelines of the annual parliamentary session that while the company’s …

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Panama Canal weighs pipeline to move gas, with eye on Asian clients

11 Mar 2025

(C) By Elida Moreno PANAMA CITY (Reuters) – The Panama Canal is exploring the construction of a pipeline to move liquefied petroleum gas (LPG) across the trade passage, canal administrator Ricaurte Vasquez said on Monday, with Japan seen as a top potential client for gas coming from the U.S. WHY IT’S IMPORTANT The canal, one …

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Japan government to work with BOJ on rising living costs, economy minister says

11 Mar 2025

By Leika Kihara TOKYO (Reuters) – Japan’s Economy Minister Ryosei Akazawa said on Tuesday the government will work closely with the Bank of Japan (BOJ) in reaching its 2% inflation target as rising living costs hurt households. The government and central bank are striving to achieve the inflation goal in a stable manner and have …

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Indonesia to build oil refineries with total capacity of 1 million bpd, minister says

11 Mar 2025

JAKARTA (Reuters) – Indonesia will build oil refineries on several of its islands, including Kalimantan and Sulawesi, with a total capacity of 1 million barrels per day, upgrading from a planned single refinery with a 500,000 bpd capacity, the energy minister said. Last week, the government said it wanted to accelerate 21 natural resource processing …

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In deflation-hit China, one store holds flash sales four times a day

11 Mar 2025

By Liangping Gao and Marius Zaharia BEIJING/HONG KONG (Reuters) -Leo Liu, manager of the sprawling Wankelai store in the Chinese capital of Beijing, spoke into a microphone, announcing progressively steeper discounts in a flash sale, until he finally sold a cotton jacket and a woman’s undershirt. In a symptom of China’s deflationary economy, Liu eventually …

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