Reuters Asia Business

KKR hires Goldman for selling stake in Philippine fintech Maya, sources say

17 Jan 2025

By Yantoultra Ngui SINGAPORE (Reuters) – Global investment firm KKR has appointed Goldman Sachs for the sale of its significant minority stake in Philippine fintech company Maya, according to two sources with knowledge of the matter. New York-headquartered KKR owns more than 20% of Maya and the potential sale, if it goes through, could value …

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IMF expects more Bank of Japan interest rate hikes in 2025 and 2026

17 Jan 2025

WASHINGTON (Reuters) – The Bank of Japan is expected to hike interest rates twice in 2025 and twice more in 2026, International Monetary Fund chief economist Pierre-Olivier Gourinchas said on Friday. In its latest World Economic Outlook, the IMF forecast that Japan’s economy would grow by 1.1% in 2025, moderating slightly to growth of 0.8% …

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China’s securities regulator approves merger of Guotai Junan, Haitong Securities

17 Jan 2025

BEIJING (Reuters) – China’s securities regulator on Friday approved the merger of Guotai Junan Securities and Haitong Securities, giving the final nod to a deal that would create a $230 billion brokerage powerhouse. The Shanghai-based brokerages in September announced a plan to merge through a share swap. Under the merger plan, Guotai Junan would absorb …

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Chinese battery giant CATL takes CALB to court over alleged patent violation

17 Jan 2025

(Reuters) -China’s battery maker CALB Group said on Friday Contemporary Amperex Technology (CATL) had sued the Hong Kong-listed peer for infringing a patent on battery modules. CATL, the country’s top electric vehicle battery maker, is seeking compensation of 60 million yuan ($8.19 million) as part of the lawsuit. “The patent involved in the litigation relates …

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Trump’s tariff plan could be gambit to win leverage, strategists say

17 Jan 2025

By Ankika Biswas (Reuters) – As investors the world over brace for a global trade war with U.S. President-elect Donald Trump returning to the White House next week, several economists and strategists believe his proposed hefty tariff hikes could well be a negotiation tool. Even as China remains at the forefront of that risk, the …

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AstraZeneca overhauls management of its China division, FT reports

17 Jan 2025

(Reuters) -AstraZeneca has overhauled its local management in China, replacing Michael Lai with Alex Lin as the country’s general manager, the Financial Times reported on Friday, citing two people with direct knowledge of the matter. The Anglo-Swedish drugmaker has promoted Mary Guan to lead oncology in China, according to the report. AstraZeneca declined to comment. …

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Singapore’s Sembcorp to build green hydrogen plant in India’s Odisha state

17 Jan 2025

(Reuters) – Sembcorp Industries has signed a deal with the eastern Indian state of Odisha to develop a green hydrogen plant and industrial park, the company backed by Singapore state-owned investor Temasek said on Friday. Singapore-based energy and urban development company Sembcorp through its subsidiary Sembcorp Green Hydrogen India will build a facility in Odisha …

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Chinese, U.S. users of RedNote find rare space for candid exchanges

17 Jan 2025

By Laurie Chen BEIJING (Reuters) – From economic pessimism to cynicism about Marxism and fears over the potential for war, Chinese and American users of RedNote took part this week in rare candid exchanges that tested the limits of censorship on the Chinese social media platform. The app, also known as Xiaohongshu, or Little Red …

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