Reuters Asia Business

China cenbank conducts medium-term loan operation, rate unchanged

25 Feb 2025

SHANGHAI (Reuters) – China’s central bank conducted a medium-term loan operation on Tuesday and left the interest rate unchanged. The People’s Bank of China (PBOC) lent 300 billion yuan ($41.3 billion) in one-year medium-term lending facility (MLF) loans to some financial institutions at 2.00%, unchanged from the previous rate, according to an online statement from …

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Nvidia’s H20 chip orders jump as Chinese firms adopt DeepSeek’s AI models, sources say

25 Feb 2025

By Fanny Potkin and Che Pan SINGAPORE/BEIJING (Reuters) – Chinese companies are ramping up orders for Nvidia’s H20 artificial intelligence chip due to booming demand for DeepSeek’s low-cost AI models, six people familiar with the matter said. The surge in orders, which is being reported for the first time by Reuters, underlines Nvidia’s dominance of …

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Japanese trading companies’ shares jump on Buffett comments

25 Feb 2025

TOKYO (Reuters) – Shares in Japan’s five major trading houses rose more than 5% in early trade on Tuesday after billionaire investor Warren Buffett said his conglomerate Berkshire Hathaway would likely increase its ownership in them. Mitsubishi Corp was the top performer, up 7.5%, while Mitsui & Co, Sumitomo Corp, Itochu and Marubeni each gained …

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Japan’s corporate service inflation accelerates to 3.1% y/y in January

25 Feb 2025

TOKYO (Reuters) – A leading indicator of Japan’s service-sector inflation in January accelerated to 3.1% from a year earlier as prices for a wide range of services continued to rise, keeping alive expectations of further interest rate hikes by the central bank. Service-sector inflation is being closely watched by the Bank of Japan to gauge …

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USTR proposes charging Chinese ships up to $1.5 million to enter US ports

24 Feb 2025

By David Lawder WASHINGTON (Reuters) – The U.S. Trade Representative’s office has proposed charging up to $1.5 million for Chinese-built vessels entering U.S. ports as part of its investigation into China’s growing domination of the global shipbuilding, maritime and logistics sectors. USTR said in a January 16 report on a probe launched during the administration …

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Saudi Arabia to buy control of Olam’s agribusiness for $1.8 billion; shares jump

24 Feb 2025

(Reuters) -Saudi Arabia’s agricultural and livestock investment firm SALIC has agreed to buy a 44.58% stake in Singapore-based Olam Group’s agricultural products business Olam for 1.78 billion, the companies said on Monday. Shares in Olam Group jumped as much as 8.9% in early trading to S$1.23, their biggest daily jump since November last year. The …

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Alibaba to invest more than $52 billion in AI over next 3 years

24 Feb 2025

(Reuters) -Alibaba said on Monday it plans to invest at least 380 billion yuan ($52.44 billion) in its cloud computing and artificial intelligence infrastructure over the next three years. The Chinese e-commerce giant had said it had plans to invest in the sector while announcing its results on Friday, but did not provide an exact …

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Volkswagen, CATL to collaborate in China on lithium battery development

24 Feb 2025

(Reuters) -The Volkswagen Group’s China subsidiary and CATL, the world’s largest battery maker, plan to collaborate on developing lithium batteries for Volkswagen’s electrified cars in China, CATL said on Monday. The parties signed a statement of intent with the aim of creating bespoke batteries with higher performance and more efficient cost structures for specific models …

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China’s Shimao secures creditor backing for $11 billion offshore debt revamp

24 Feb 2025

(Reuters) – Chinese property developer Shimao Group has secured creditor backing to restructure about $11.04 billion in offshore debt, the latest such deal in the sector after years of liquidity troubles. Sunac China became the first troubled Chinese property developer to successfully reduce its onshore debt earlier this year, while CIFI Holdings has reached an …

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China’s pork consumption has no more room to grow, says researcher

24 Feb 2025

By Ella Cao and Mei Mei Chu BEIJING (Reuters) -There is no more room for growth in Chinese pork consumption in the near future, Zhu Zengyong, a researcher with the state-backed Chinese Academy of Agricultural Sciences said on Monday. A rise in demand from the world’s biggest pork consumer had propelled the expansion and modernisation …

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