Reuters Asia Business Archives - Page 804 of 2133

Thailand seeks negotiations with China to lift syrup imports ban

15 Jan 2025 15 Jan 2025

By Panarat Thepgumpanat BANGKOK (Reuters) -Chinese authorities have asked Thailand to inspect dozens of factories before opening negotiations to lift a ban imposed last month on sugar syrup and premixed powder exports from the Southeast Asian nation, Thai officials said. Thailand, the world’s second-largest sugar exporter, was China’s main supplier of liquid sugar last year …

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China’s RedNote: what you need to know about the app TikTok users are flocking to

15 Jan 2025 15 Jan 2025

BEIJING (Reuters) -Chinese social media app RedNote has been thrust into the limelight after more than half a million TikTok users recently joined the platform in protest against a likely imminent ban on the short video app in the United States. Known by its Chinese name “Xiaohongshu” in China, the platform is a popular lifestyle …

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China blacklists four U.S. companies for involvement in arms sales to Taiwan

15 Jan 2025 15 Jan 2025

BEIJING (Reuters) – China’s commerce ministry said on Wednesday that it had added four U.S. companies to its so-called “Unreliable Entity List” for their involvement in arms sales to Taiwan, which China regards as part of its territory. The blacklisted companies, which include Pacific Rim Defense and Summit Technologies Inc., will be banned from exporting …

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Malaysia Airports buyout offer extended to Jan. 24

15 Jan 2025 15 Jan 2025

(Reuters) – A takeover offer for Malaysia Airports by a consortium comprising the country’s sovereign wealth fund and BlackRock has been extended again to Jan. 24, a stock exchange filing on Wednesday showed. Earlier this month, the offer was extended to Jan. 17. The offerors have now secured an additional 44.92% stake as of Jan. …

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Pakistan cuts EV charging tariff by 45% to boost electricity consumption and EV adoption

15 Jan 2025 15 Jan 2025

By Ariba Shahid and Asif Shahzad ISLAMABAD (Reuters) -Pakistan will cut the power tariff for operators of electric vehicle charging stations by 45% as part of the ongoing reform of the energy sector designed to boost demand, the country’s Energy Minister Awais Leghari said on Wednesday. A sustained economic crisis has slashed power consumption, leaving …

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Chinese overnight rate spikes to 16% as cash tightens ahead of holiday

15 Jan 2025 15 Jan 2025

SHANGHAI (Reuters) – Overnight borrowing costs for some Chinese financial institutions jumped as high as 16% on Wednesday, according to traders, due to tight cash supplies in the market ahead of the week-long Lunar New Year. In addition to seasonal factors, some market participants said the country’s central bank has been cautious with cash injections …

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I Squared Capital weighs up to $1 billion bid for HKBN, sources say

15 Jan 2025 15 Jan 2025

By Kane Wu and Julie Zhu HONG KONG (Reuters) – U.S.-based infrastructure investment firm I Squared Capital is weighing an offer for Hong Kong-listed broadband operator HKBN that could value it at up to $1 billion, two people with knowledge of the deal said. I Squared Capital’s offer is set to trump an earlier bid …

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Former New China Life Insurance chairman indicted for embezzlement, taking bribes

15 Jan 2025 15 Jan 2025

BEIJING (Reuters) – Li Quan, former chairman of New China Life Insurance, has been indicted on charges of embezzlement and taking bribes, Chinese state media Xinhua reported on Wednesday. Li allegedly took advantage of his posts to embezzle large sums of public assets and helped others in exchange for money and valuables, Xinhua reported, citing …

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Shell, CNOOC joint venture to expand south China petrochemical complex

15 Jan 2025 15 Jan 2025

BEIJING (Reuters) -A joint venture of Shell and CNOOC plans to expand its petrochemical facility in south China’s Guangdong province in a project targeted for completion in 2028, the company said in a statement on Wednesday. CSPC, or CNOOC and Shell Petrochemicals Co, will add a third ethylene cracker with a production capacity of 1.6 …

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China’s State Grid outlays record $88.7 billion investment for 2025

15 Jan 2025 15 Jan 2025

BEIJING (Reuters) – China’s State Grid will invest a record over 650 billion yuan ($88.7 billion) in the country’s power grid this year, state-run CCTV said on Wednesday, up from 600 billion in 2024. The country’s main national grid operator said it would focus on optimising the power grid, strengthening distribution infrastructure and providing for …

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Reuters Asia Business﻿﻿

Reuters Asia Business