Reuters Asia Business

UK development finance body sets up Southeast Asia renewables JV

22 Jan 2025

SINGAPORE (Reuters) -British International Investment (BII), the UK’s development finance institution, has set up a renewable energy joint venture focused on Southeast Asia with two partners, a joint statement said on Wednesday. BII’s partners in the Sustainable Asia Renewable Assets Company (SARA) are Dutch entrepreneurial development bank FMO and Swiss-based infrastructure investment manager SUSI Partners. …

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Sunway Healthcare hires banks for $675 million Malaysian IPO, sources say

22 Jan 2025

By Yantoultra Ngui SINGAPORE (Reuters) – Sunway Healthcare Group has hired banks, including CIMB and Malayan Banking Bhd, to work on a more than 3 billion ringgit ($675 million) Malaysian initial public offering, two sources with knowledge of the matter said. UBS is also among the banks appointed for the float, a third source said. …

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Taiwan says market uncertainty will be ‘new normal’ under Trump

22 Jan 2025

TAIPEI (Reuters) – Changes in policy promised by the newly inaugurated Trump administration foreshadow a future in which uncertainty will be “the new normal” for financial markets amid rising geopolitical risks, Taiwan’s top financial regulator said on Wednesday. Taiwan’s main index jumped 28% in 2024, making it the best performer in Asia, Taiwan’s Financial Supervisory …

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Malaysia central bank holds key rate for 10th straight meeting

22 Jan 2025

By Danial Azhar KUALA LUMPUR (Reuters) – Malaysia’s central bank kept its benchmark interest rate unchanged for the 10th consecutive policy meeting on Wednesday, citing strong economic growth and steady inflation, while warning of potential currency volatility. Bank Negara Malaysia maintained its overnight policy rate at 3.00%, where it has been since May 2023. In …

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Indonesia to exempt oil and gas sector from new FX retention rule

22 Jan 2025

By Stefanno Sulaiman JAKARTA (Reuters) -Indonesia will exempt oil and gas exporters from its new rule that all proceeds from natural resource exports be kept onshore for a year, as companies urge adjustments to the rule out of concern over its impact on their cashflows. On Tuesday, Jakarta said the new rule would take effect …

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China and Hong Kong stocks tumble on Trump’s tariff threats

22 Jan 2025

HONG KONG (Reuters) – China and Hong Kong stocks fell on Wednesday after U.S. President Donald Trump hinted at new tariffs on Chinese imports, ending a brief reprieve for the markets. China’s blue-chip CSI 300 Index and the Shanghai Composite Index both declined 0.9% at close, marking their biggest single-day retreat in nearly two weeks. …

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China orders pay cap at state-owned financial firms, sources say

22 Jan 2025

BEIJING/HONG KONG (Reuters) – China is set to impose a 1 million yuan ($137,309) cap on the annual income of staff at central government-owned financial institutions, three sources said, expanding a campaign against excess against a backdrop of economic slowdown. Those whose income already exceeds 1 million yuan will have their payout cut, such as …

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Sri Lanka agrees with China’s Sinopec to fast-track $3.7 billion refinery

22 Jan 2025

By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka’s foreign minister said on Wednesday that the South Asian island nation had signed an agreement with Chinese state energy giant Sinopec to fast-track a proposed $3.7 billion oil refinery in its southern port city of Hambantota. Sinopec and Sri Lanka will jointly decide the share of refined fuel …

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