Reuters Asia Business

StanChart shares hit near decade peak after profit rise, $1.5 billion buyback

21 Feb 2025

By Selena Li HONG KONG (Reuters) – Standard Chartered announced a new $1.5 billion share buyback on Friday after reporting its annual profit rose 18% on record growth in its wealth business and a strong performance of its markets division, driving its shares to a near-decade high. The Asia, Africa and Middle East-focused bank is …

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BOJ could raise interest rates in March, says ex-policymaker Shirai

21 Feb 2025

By Leika Kihara and Kentaro Sugiyama TOKYO (Reuters) – The Bank of Japan may raise interest rates in March if U.S. President Donald Trump pushes through on his tariff threats and adds to already mounting domestic inflationary pressures, former central bank board member Sayuri Shirai said on Friday. While Trump’s threatened new tariffs on imports …

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Philippine central bank cuts banks’ reserve requirements, effective from late March

21 Feb 2025

MANILA (Reuters) – The Philippine central bank on Friday said it was reducing the reserve requirement ratio (RRR) for banks by 200 basis points from late March. The reduction will bring the reserve requirement for universal and commercial banks down to 5% and will take effect in the week of March 28, the Bangko Sentral …

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Indonesia official says no discussion of palm oil export restrictions ahead of Ramadan

21 Feb 2025

JAKARTA (Reuters) – The Indonesian government has not held discussions on restricting palm oil exports ahead of the Muslim fasting month of Ramadan, trade ministry official Farid Amir said on Friday. Palm oil futures prices were on track for a fifth consecutive weekly gain on Friday on output concerns, including market speculation that Indonesia was …

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Chinese universities launch DeepSeek courses to capitalise on AI boom

21 Feb 2025

HONG KONG (Reuters) – Universities across China have launched artificial intelligence (AI) courses this month based on Chinese AI startup DeepSeek, whose AI breakthrough has been described as a “Sputnik moment” for China and garnered widespread attention. The move comes as Chinese authorities aim to boost scientific and technological innovation in schools and universities that …

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Alibaba shares open at three year-high as quarterly revenue rebounds

21 Feb 2025

By Harshita Mary Varghese and Casey Hall (Reuters) – Alibaba’s shares opened 10% higher in Hong Kong on Friday to reach their highest level in more than three years, after it reported third-quarter revenues just above analysts’ estimates and said it plans to invest more in e-commerce and AI. The Chinese e-commerce giant’s U.S-listed shares …

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South Korea seeks exemption from Trump tariffs

21 Feb 2025

SEOUL (Reuters) – South Korean officials have requested an exemption from U.S. reciprocal, steel and aluminium tariffs during their visit this week to Washington, the industry ministry said in a statement on Friday. Deputy Minister Park Jong-won, who led the first major South Korean government delegation to visit Washington since U.S. President Donald Trump announced …

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Iron ore heads for weekly gain on brightening demand outlook, China stimulus hopes

21 Feb 2025

By Amy Lv and Lewis Jackson BEIJING (Reuters) -Iron ore futures prices climbed on Friday to their highest levels in more than four months and headed for a weekly gain, as signs of recovery in steel consumption brightened demand outlook in top consumer China, where hopes of more stimulus revived. The most-traded May iron ore …

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BYD’s Fangchengbao launches plug-in hybrid with advanced autonomous driving features

21 Feb 2025

BEIJING (Reuters) – Chinese electric vehicle maker BYD’s off-road brand Fangchengbao on Friday launched smart versions of its plug-in hybrid SUV Bao 5. The Bao 5, packing BYD’s proprietary “God’s Eye” advanced driver-assistance system (ADAS), is priced from 239,800 yuan ($33,082). Another version featuring Huawei’s Qiankun ADAS goes for a starting price at 284,800 yuan. …

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