Reuters Asia Business Archives - Page 775 of 2133

Singapore-based Japfa owners offer to take poultry firm private

24 Jan 2025 24 Jan 2025

(Reuters) – Owner of Singapore’s Japfa Ltd offered to take the poultry firm private on Friday through a scheme of arrangement, valuing the company at S$1.18 billion ($874.85 million), through a scheme of arrangement with joint offerors, acting as special purpose vehicles. The scheme involves purchasing shares from shareholders, excluding certain entities, at a cash …

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HK’s New World Development in talks over potential K11 Art Mall disposal

24 Jan 2025 24 Jan 2025

(Reuters) – Hong Kong-based property developer New World Development on Friday confirmed it is conducting ongoing negotiations for the potential sale of its shopping centre, K11 Art Mall. Local media had reported in August that the company received a HK$9 billion ($1.16 billion) bid for the Hong Kong shopping mall from a Chinese state-owned company. …

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BMW joins Chinese EV makers in filing EU court challenge to tariffs

24 Jan 2025 24 Jan 2025

BRUSSELS (Reuters) – BMW has joined Chinese producers in filing a challenge at the Court of Justice of the European Union (CJEU) against EU tariffs on China-made electric vehicles (EVs), according to a filing on the court’s website. The EU imposed tariffs on China-made EVs at the end of October after an anti-subsidy investigation. The …

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Mongolia says close to signing major green energy deals with Saudi Arabia

24 Jan 2025 24 Jan 2025

By Marwa Rashad DAVOS, Switzerland (Reuters) – Mongolia expects to sign green hydrogen and renewable energy agreements with Saudi Arabia worth several billion dollars over the next few months and is in talks with the United Arab Emirates for similar investments, the country’s deputy prime minister told Reuters. Rich in deposits of copper and coking …

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China issues first-of-its-kind guidelines for EV insurance

24 Jan 2025 24 Jan 2025

BEIJING (Reuters) – China’s national financial regulator issued on Friday the first-of-its-kind insurance guidelines for electric vehicles and plug-in hybrids. The guidelines are intended to reduce the maintenance costs of new energy vehicles and explore setting up a risk classification system for insurance models. The guidelines address the impact on car insurance from the rapid …

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Chinese automaker JAC expects 2024 net loss, hit by VW venture

24 Jan 2025 24 Jan 2025

BEIJING (Reuters) – Anhui Jianghuai Automobile Group (JAC) expects its 2024 results to show a loss, it said on Friday, citing the weak performance of its joint venture with Volkswagen. The Chinese automaker’s stock market filing said it would swing to a net loss of 1.8 billion yuan ($249 million) from a 1.5 billion yuan …

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Greatview says chairman-led takeover proposal off the table

24 Jan 2025 24 Jan 2025

By Rishav Chatterjee (Reuters) -Hong Kong-listed dairy packaging firm Greatview Aseptic said on Friday a potential bid from a group of its managers, including its chairman, would not proceed, days after a buyout offer from a Shenzhen-listed rival became unconditional. Shandong Newjf Technology Packaging, known as Xinjufeng, offered to buy Greatview in May, valuing it …

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Senior UK lawmaker to write to Shein again on China cotton

24 Jan 2025 24 Jan 2025

LONDON (Reuters) – The chair of a British parliamentary committee plans to write to Shein for a second time to ask again if the online fast-fashion retailer ships products with cotton from China’s Xinjiang region to Britain. The spokesperson for the Business and Trade committee said on Friday Shein had failed to answer chair Liam …

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Malaysia Airports sale to Gateway Development Alliance moves a step closer

24 Jan 2025 24 Jan 2025

(Corrects headline and paragraph 1 to remove reference to offer being unconditional, adding acceptance level in paragraph 1) (Reuters) -Malaysia Airports said on Friday a takeover bid by the Gateway Development Alliance (GDA) consortium, led by sovereign wealth fund Khazanah Nasional, had reached an acceptance level of 92.82%. The bidding consortium also includes BlackRock’s Global …

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Sri Lanka’s power purchase deal intact, Adani says, denying AFP report

24 Jan 2025 24 Jan 2025

By Uditha Jayasinghe and Chris Thomas (Reuters) -India’s Adani Group’s power purchase deal with the Sri Lankan government is intact, the company said on Friday, after the AFP news agency reported it had been revoked, citing a government official and a document. Sri Lanka has been reviewing the group’s local projects after U.S. authorities in …

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Reuters Asia Business﻿﻿

Reuters Asia Business