Reuters Asia Business Archives - Page 717 of 2133

Turkey, AIIB signs MoU for $5 billion financing to public sector projects

17 Feb 2025 17 Feb 2025

ANKARA (Reuters) – Turkey’s Finance Ministry said on Monday that it has signed a memorandum of understanding with the Asian Infrastructure Investment Bank (AIIB) for $5 billion financing for public sector projects in three years. The deal, which was signed in Saudi Arabia’s Al Ula, is aimed at funding sustainability and green development projects in …

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Standard Chartered, HKT, Animoca to form JV for HK dollar-backed stablecoin

17 Feb 2025 17 Feb 2025

(Reuters) – Standard Chartered Plc said on Monday its Hong Kong banking division, Animoca Brands and HKT will establish a joint venture to apply for a license from the Hong Kong Monetary Authority for issuance of a Hong Kong dollar-backed stablecoin. Standard Chartered said it has entered agreements with Animoca Brands, a company which specialises …

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Baidu share slide wipes $2.4 billion off market value amid speculation over Xi meeting

17 Feb 2025 17 Feb 2025

HONG KONG (Reuters) – The Hong Kong shares of Baidu plunged on Monday, wiping $2.4 billion off its market value, after the founder of the Chinese search engine giant was not spotted at a rare meeting between President Xi Jinping and corporate leaders. Xi hosted a symposium in Beijing with the country’s top tycoons, including …

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Factbox-Chinese firms and their founders at Xi’s symposium

17 Feb 2025 17 Feb 2025

BEIJING (Reuters) – Chinese President Xi Jinping addressed more than a dozen founders and chief executives from some of China’s largest companies on Monday, in a bid to boost private sector sentiment. Here are details of some of the firms, and their heads, in attendance: ALIBABA – JACK MA The appearance of Ma, co-founder of …

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The significance of China Xi’s meet with private enterprises

17 Feb 2025 17 Feb 2025

(Reuters) -China’s President Xi Jinping spoke on Monday at a symposium on private enterprises attended by tech entrepreneurs including Alibaba co-founder Jack Ma, state media said, but gave no specific details. Last week Reuters reported the symposium aims to boost private-sector sentiment, with Xi expected to encourage executives to expand their businesses despite a deepening …

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HK comments leave the door open to use of cryptocurrencies as proof of wealth

17 Feb 2025 17 Feb 2025

By Summer Zhen HONG KONG (Reuters) – The Hong Kong government has responded for the first time to questions about the use of cryptocurrencies as proof of wealth for an immigration scheme after a local accountant talked publicly about two cases that had accepted the digital assets. Clement Siu, a Hong Kong-based certified public accountant, …

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China to strengthen support for metals vital to EVs and energy storage

17 Feb 2025 17 Feb 2025

BEIJING (Reuters) – China will strengthen support for exploring domestic mineral resources including lithium, cobalt and nickel, its industry ministry said on Monday. The world’s largest consumer of the metals key to electrical vehicles batteries and energy storage also will support enterprises to strengthen foreign investment and cooperation, and improve the supply of overseas development …

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New downloads of DeepSeek suspended in South Korea, data protection agency says

17 Feb 2025 17 Feb 2025

SEOUL (Reuters) – South Korea’s data protection authority on Monday said new downloads of the Chinese AI app DeepSeek had been suspended in the country after DeepSeek acknowledged failing to take into account some of the agency’s rules on protecting personal data. The service of the app will be resumed once improvements are made in …

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Malaysian PM says Petronas will stick to contract commitments

17 Feb 2025 17 Feb 2025

KUALA LUMPUR (Reuters) – Malaysian state energy firm Petroliam Nasional Berhad (Petronas) will maintain all its contractual obligations, Prime Minister Anwar Ibrahim said, after talks over gas distribution with Petroleum Sarawak Berhad (Petros) fanned industry concerns. A recent deadlock in talks between Petronas and Petros, run by the state of Sarawak, home to more than …

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Indonesia president says new export measure to add $80 billion to FX reserves

17 Feb 2025 17 Feb 2025

JAKARTA (Reuters) -Indonesian President Prabowo Subianto on Monday signed a regulation requiring exporters of resources other than oil and gas to hold all proceeds locally for at least a year, which he said would add $80 billion to the country’s forex reserves. “Indonesia’s natural resources must benefit the welfare of the nation and the people, …

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Reuters Asia Business﻿﻿

Reuters Asia Business