Reuters Asia Business

Malaysia’s AMMB cancels $249 million sale of insurance units to Great Eastern

3 Feb 2025

SINGAPORE (Reuters) -Malaysian lender AMMB Holdings said on Monday that the proposed sale of its Malaysian insurance businesses, jointly owned with MetLife, to Singapore insurer Great Eastern for 1.12 billion ringgit ($249.61 million), has been called off. AMMB said the agreement dated Oct. 2, 2023, in which Great Eastern’s units – Great Eastern Life Assurance …

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Asia automakers lead the decline as region takes a beating from Trump tariffs

3 Feb 2025

(Reuters) – Shares of Japanese and South Korean car makers and their suppliers led declines in Asia on Monday, as exporters across the region were walloped by U.S. President Donald Trump’s introduction of sweeping tariffs on Mexico, Canada and China. The move by Trump, though widely expected, knocked some of the world’s biggest manufacturers, as …

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Billionaire Ambani’s Reliance brings Shein back to India after 2020 app ban

3 Feb 2025

By Dhwani Pandya MUMBAI (Reuters) -Reliance Retail has launched an app in India to sell fashionwear from China’s Shein under a licensing deal, almost five years since Shein’s app was banned in the country after getting caught up in a diplomatic tussle. Reliance, owned by billionaire Mukesh Ambani, launched the app on Saturday morning, said …

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Trump says Americans could feel ‘pain’ in trade war with Mexico, Canada, China

3 Feb 2025

By Jarrett Renshaw, Daphne Psaledakis and David Lawder WASHINGTON (Reuters) – President Donald Trump said on Sunday the sweeping tariffs that he has imposed on Mexico, Canada and China may cause “short term” pain for Americans as global markets reflected concerns the levies could undermine growth and reignite inflation. Trump said he would talk on …

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Barrenjoey Capital to open Hong Kong office for Australian, NZ equities

3 Feb 2025

SYDNEY (Reuters) – Barrenjoey Capital, a boutique Australian investment bank, said on Monday that it will open a Hong Kong office focused on Australian and New Zealand equities sales, trading and research. The office opening follows Barrenjoey’s acquisition of the Asian business of its strategic alliance partner, Forsyth Barr, the New Zealand investment firm. Barrenjoey’s …

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BOJ debated weak-yen risk, scope for more rate hikes at Jan meeting, summary shows

3 Feb 2025

By Leika Kihara TOKYO (Reuters) -Bank of Japan policymakers discussed the likelihood of raising interest rates further with some warning of upside inflation risks and the damage a weak yen could inflict on the economy, a summary of opinions at their January meeting showed on Monday. The debate highlights an increasing chance the central bank …

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China box office sets revenue record as sequels help overcome economic malaise

2 Feb 2025

BEIJING (Reuters) – China’s movie box office took in record revenue during the Lunar New Year holiday, as sequels to popular Chinese hits drew theatregoers at a time when other types of spending have suffered during a period of relatively sluggish economic growth. Box office revenue for the four days of the week-long holiday starting …

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China denounces Trump tariff: ‘Fentanyl is America’s problem’

2 Feb 2025

By Kevin Krolicki and Qiaoyi Li BEIJING (Reuters) -China’s government on Sunday denounced the Trump administration’s imposition of a long-threatened 10% tariff on Chinese imports while leaving the door open for talks with the U.S. that could avoid a deepening conflict. Beijing will challenge President Donald Trump’s tariff at the World Trade Organization – a …

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Trump launches trade war with tariffs on Mexico, Canada and China

2 Feb 2025

By Andrea Shalal, Jarrett Renshaw and David Lawder (Reuters) -U.S. President Donald Trump on Saturday ordered sweeping tariffs on goods from Mexico, Canada and China, demanding they stanch the flow of fentanyl – and illegal immigrants in the case of Canada and Mexico – into the United States, kicking off a trade war that could …

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