Reuters Asia Business

Indian drugmaker Dr Reddy’s says it is ‘optimistic’ about Trump administration

23 Jan 2025

By Rishika Sadam and Kashish Tandon BENGALURU/HYDERABAD (Reuters) -Indian generic drugmaker Dr Reddy’s Laboratories on Thursday said it was optimistic about the Donald Trump administration, as it believes the country would have an edge amid tensions between the United States and China. “I believe that the type of products that we bring in and the …

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Sunac China brings in new investor to restructure Chongqing Bay project

23 Jan 2025

(Reuters) – Embattled property developer Sunac China on Thursday said a private credit firm will invest 2.48 billion Chinese yuan ($340.34 million) into restructuring debts for the Chongqing Project. The project focuses on residential and commercial properties for sale, most of which have not yet been developed. ($1 = 7.2869 Chinese yuan renminbi) (Reporting by …

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Korea Zinc chairman retains board control amid takeover battle

23 Jan 2025

By Joyce Lee SEOUL (Reuters) – Shareholders in Korea Zinc elected board members nominated by current management at a special stakeholder meeting on Thursday, escalating a bitter four-month takeover battle for the world’s biggest refined zinc producer. The vote excluded rival and major shareholder Young Poong after Korea Zinc management said it did not have …

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Korea Zinc shareholders vote in directors proposed by management

23 Jan 2025

SEOUL (Reuters) – Shareholders of Korea Zinc, the world’s largest zinc refiner, voted in favour of seven board members nominated by current management, results at a shareholders’ meeting on Thursday showed. The vote was held after Korea Zinc management excluded major shareholder Young Poong’s shares, saying they do not have voting rights. Korea Zinc has …

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Indonesia plans spending cuts worth $18.84 billion, finance ministry says

23 Jan 2025

JAKARTA (Reuters) – Indonesia’s President Prabowo Subianto has instructed his government to cut spending by 306.7 trillion rupiah ($18.8 billion) this year, a finance ministry spokesperson told Reuters on Thursday. Prabowo has frequently highlighted the need for efficient spending under his administration. The cuts are equivalent to about 8% of the total approved spending this …

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Hong Kong’s New World Development says business ‘as usual’ amid Bloomberg’s coverage of potential default

23 Jan 2025

(Reuters) -Hong Kong-based New World Development faced renewed speculation on Thursday as Bloomberg reported on a potential bond default, after the property developer clarified earlier in the day that it continues to operate normally. Bloomberg News reported PJT Partners Inc., a global advisory-focused investment bank, has discussed with New World’s dollar bondholders the possibilities of …

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Nissan to procure EV batteries from SK On for US market, Nikkei reports

23 Jan 2025

TOKYO (Reuters) – Nissan Motor plans to procure batteries for electric vehicles sold in the U.S. from South Korea’s SK On from around 2028 onwards, the Nikkei newspaper said on Thursday, as the troubled Japanese automaker looks to ramp up its EV business as part of a planned turnaround. Separately, a Nissan executive said the …

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Exclusive-ByteDance plans $20 billion capex in 2025, mostly on AI, sources say

23 Jan 2025

BEIJING (Reuters) -ByteDance, the Chinese owner of TikTok, has earmarked over 150 billion yuan ($20.64 billion) in capital expenditure for this year, much of which will be centred on artificial intelligence, two people briefed on the matter said. The privately held technology giant plans to spend about half of the amount abroad on AI-related infrastructure, …

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American firms in China fearful of US-China trade turmoil at 5-yr high, survey shows

23 Jan 2025

By Casey Hall SHANGHAI (Reuters) -More than half the American businesses in China, the most in five years, say they are concerned about a further deterioration in the bilateral relationship between the world’s two largest economies, a survey published on Thursday showed. The annual survey by the American Chamber of Commerce (AmCham) in China showed …

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