Reuters Asia Business

Philippines wealth fund buys into China-backed national grid operator

27 Jan 2025

MANILA (Reuters) – The Philippines’ sovereign wealth fund Maharlika Investment Corp is buying a 20% stake in the operator of the country’s power grid, the government said on Monday, a first major investment that tightens its grip on critical infrastructure. National Grid Corp of the Philippines holds a 25-year concession to run the country’s sole …

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Analysis-Global economy takes Trump guessing-game in stride

27 Jan 2025

By Balazs Koranyi and Howard Schneider FRANKFURT (Reuters) – Global economic policymakers had been braced for an economic firestorm from the new U.S. administration but instead got a surprisingly restrained start from Donald Trump, who remains big on rhetoric but more cautious on action – for now. Trump had hinted at sweeping trade barriers from …

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China Vanke’s CEO, chairman resign as $6.2 billion forecast loss deepens concerns

27 Jan 2025

By Clare Jim HONG KONG (Reuters) -Property developer China Vanke said on Monday its chairman Yu Liang and CEO Zhu Jiusheng stepped down as it forecast a record $6.2 billion net loss for 2024, as concerns over the company’s liquidity deepen.      Xin Jie, the chairman of its major state-owned shareholder Shenzhen Metro, will become Vanke’s …

China Vanke’s CEO, chairman resign as $6.2 billion forecast loss deepens concerns Read More »

China ‘teapot’ refiners halt plants as new fuel tax bites, sources say

27 Jan 2025

By Chen Aizhu and Trixie Yap SINGAPORE (Reuters) – Several independent oil refineries in eastern China have halted operations, or plan to do so, for indefinite maintenance periods as new Chinese tariff and tax policies plunge them deeper into losses, refinery and trade sources said. The rare outages come at a time of nascent consolidation …

China ‘teapot’ refiners halt plants as new fuel tax bites, sources say Read More »

DBS raises stake in China’s Shenzhen Rural Commercial Bank to over 19%

27 Jan 2025

(Reuters) -Singapore’s DBS Group said on Monday it acquired an additional stake in Shenzhen Rural Commercial Bank (SRCB) for 1.60 billion yuan ($220.4 million), bringing its total ownership in the Chinese lender to 19.40%. DBS, the biggest bank in Southeast Asia, acquired an additional 281.6 million shares in SRCB at 5.67 yuan per share. The …

DBS raises stake in China’s Shenzhen Rural Commercial Bank to over 19% Read More »

China central bank conducts 1.7 trln yuan of outright reverse repos in Jan

27 Jan 2025

SHANGHAI (Reuters) – China’s central bank said on Monday it conducted 1.7 trillion yuan of outright reverse repurchase agreements in January. The People’s Bank of China (PBOC) said the repo operations aimed to “keep banking system liquidity reasonably ample”. The tenors of the repos for the month were 3 and 6 months. Separately, the PBOC …

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Thailand sees economy growing up to 3.5% this year on stimulus, foreign investment

27 Jan 2025

By Kitiphong Thaichareon and Orathai Sriring BANGKOK (Reuters) – Thailand’s economy is expected to grow between 3% and 3.5% this year, driven by stimulus measures and strong foreign investment, while tourist numbers should surpass 2024 figures, the finance minister said on Monday. More big foreign investments are coming as confidence in the country grows, Pichai …

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Malaysian bourse operator appoints RHB Bank executive as new CEO

27 Jan 2025

(Reuters) – Bursa Malaysia has appointed Fad’l Mohamed as its new chief executive, replacing Muhamad Umar, the operator of the country’s bourse said on Monday. Fad’l is currently the managing director of RHB Bank’s group wholesale banking unit and has experience as a CEO from his stint with Maybank Investment Bank. Muhamad Umar, the chief …

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Bangladesh central bank hires auditors for banks it says lost $17 billion, FT reports

27 Jan 2025

(Reuters) -Bangladesh’s central bank has hired three “Big Four” accounting firms – EY, Deloitte and KPMG – to audit banks it says lost $17 billion to business people close to the regime of former leader Sheikh Hasina, the Financial Times reported on Sunday, citing bank governor Ahsan Mansur. In an interview with the newspaper, Mansur …

Bangladesh central bank hires auditors for banks it says lost $17 billion, FT reports Read More »

Brookfield closes two Japan real estate deals for $1.6 billion

27 Jan 2025

TOKYO (Reuters) – Canadian investment firm Brookfield Asset Management said on Monday it has closed two real-estate investments in Japan worth a combined $1.6 billion. The investments comprise a stake in Tokyo’s landmark Gajoen complex, a mixed-use office, retail and luxury hotel, and a 1 million square foot (93,000 square metre) plot in the outskirts …

Brookfield closes two Japan real estate deals for $1.6 billion Read More »

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