Reuters Asia Business

China imposes provisional duties on US, EU, Japan, Taiwan industrial plastics

16 Jan 2025

BEIJING (Reuters) -China said on Thursday it would apply provisional duties on imports of industrial plastics from the United States, European Union, Japan and Taiwan after a months-long anti-dumping investigation. The provisional anti-dumping levies on polyacetal copolymers range from 3.8% to 74.9% depending on the country and company and will commence from January 24, the …

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China’s second-largest fund manager plans US, Brazil foray, CEO says

16 Jan 2025

By Selena Li HONG KONG (Reuters) – China Asset Management Company, the country’s second-largest fund manager, plans to launch funds in the U.S. and Brazil this year, its chief executive said, betting on a revival of investor interest in Chinese markets. The state majority-owned fund manager is seeking a partner in the U.S. to roll …

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Philippines, UAE’s Masdar agree $15 billion renewable energy project

16 Jan 2025

MANILA (Reuters) – United Arab Emirates state energy firm Masdar has signed a $15 billion renewable energy deal with the Philippines to develop solar, wind and battery energy storage systems, providing it with up to 1 gigawatt of clean power by 2030. The project is in line with the Philippines’ goal of reducing its reliance …

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China says US firm PVH engaged in ‘improper’ conduct related to Xinjiang

16 Jan 2025

BEIJING (Reuters) – Preliminary findings showed that PVH Corp, the parent company of Calvin Klein and Tommy Hilfiger, engaged in “improper” conduct related to the Xinjiang region, China’s commerce ministry said on Thursday, without elaborating. The ministry plans to summon PVH in the near future, it said in a statement. In September, China announced an …

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Indonesia issues regulation to implement global minimum tax

16 Jan 2025

JAKARTA (Reuters) -Indonesia’s finance ministry said on Thursday it had issued a regulation to implement the global minimum corporate tax at 15% effective from Jan. 1, as part of an international push to limit tax competition between countries. The largest economy in Southeast Asia is among 140 countries which agreed on a landmark 2021 deal …

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China Vanke has no plans to extend bonds amid market slump, REDD reports

16 Jan 2025

(Reuters) -Property developer China Vanke told some investors on Wednesday that it had no plans to extend the maturity dates of its bonds amid a market sell-off, financial news outlet REDD reported, citing two persons briefed by the company on the matter. Vanke’s onshore bond prices have been volatile in the past few weeks over …

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South Korea considering buying more US oil and gas, industry minister says

16 Jan 2025

By Hyunjoo Jin and Emily Chow SEOUL (Reuters) -South Korea is interested in importing more U.S. oil and gas to diversify energy sources and ensure stable supplies given tensions in the Middle East, the country’s industry minister Ahn Duk-geun said on Thursday. The government may need to increase support for the purchase of non-Middle East …

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EU can stand up to US, China with integrated energy market, IMF states

16 Jan 2025

WARSAW (Reuters) – European Union companies could become more competitive against their U.S. and Chinese rivals if they paid less for energy — a goal governments could achieve by cooperating to invest and to integrate the EU’s fragmented energy market, the IMF said. Boosting Europe’s economic competitiveness is a priority for the 27-nation bloc as …

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TSMC’s Q4 profit rises 57% to a record, in line with forecast

16 Jan 2025

TAIPEI (Reuters) – Taiwanese chipmaker TSMC said fourth-quarter net profit rose 57% to a record on Thursday, in line with expectations, as it benefits from surging demand for semiconductors used in artificial intelligence processing. Taiwan Semiconductor Manufacturing (TSMC), the world’s largest contract chipmaker and a major Apple and Nvidia supplier, saw October to December net …

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BOJ to raise rates by end-March, most analysts lean toward January hike- Reuters poll

16 Jan 2025

By Satoshi Sugiyama TOKYO (Reuters) – The Bank of Japan will raise interest rates again at one of the two meetings this quarter to 0.50%, an overwhelming majority of economists surveyed by Reuters said, with most leaning toward a January move. The findings show the BOJ’s determination to take further steps toward more normal monetary …

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