Reuters Asia Business

China Evergrande ordered to repay its property unit $1.8 billion worth deposit pledges

10 Jan 2025

(Reuters) -China’s Evergrande Property Services Group said on Friday a Guangzhou city court has ordered its parent China Evergrande to repay pledge guarantees on deposit certificates totalling 13.4 billion yuan ($1.83 billion). Evergrande Property began legal proceedings against its indebted parent early last year for using its deposits as collateral for pledge guarantees. China Evergrande, …

China Evergrande ordered to repay its property unit $1.8 billion worth deposit pledges Read More »

TSMC’s fourth-quarter revenue handily beats market forecast on AI demand

10 Jan 2025

TAIPEI (Reuters) – TSMC, the world’s largest contract chipmaker, reported on Friday fourth-quarter revenue that easily beat market forecasts and hit its own expectations as it reaped the benefit of artificial intelligence demand. Taiwan Semiconductor Manufacturing Co, whose customers include Apple and Nvidia, has been at the forefront of the march towards AI that has …

TSMC’s fourth-quarter revenue handily beats market forecast on AI demand Read More »

Chinese property developer Redsun to miss $350 million bond payment due next week

10 Jan 2025

(Reuters) – Chinese property developer Redsun Properties said on Friday it would not be able to pay its $350 million bond maturing on January 13, which includes the principal and the accrued interest. The bond was issued in January 2021 with a coupon rate of 7.3%. A prolonged property market slump in China over the …

Chinese property developer Redsun to miss $350 million bond payment due next week Read More »

China’s central bank halts bond buying as yuan struggles

10 Jan 2025

SHANGHAI (Reuters) – China’s central bank suspended treasury bond purchases on Friday, briefly lifting yields and spurring speculation it is stepping up defence of the yuan currency which has been sliding since the election of Donald Trump as U.S. president. The move breaks with five months of buying and coincides with a brutal selloff in …

China’s central bank halts bond buying as yuan struggles Read More »

Philippine fintech GCash hires banks for up to $1.5 billion IPO, sources say

10 Jan 2025

By Yantoultra Ngui SINGAPORE (Reuters) – GCash, a Philippine fintech firm, has hired banks, including Citi, Jefferies and UBS, to work on an up to $1.5 billion domestic initial public offering, three sources with knowledge of the matter said, in what would be the country’s biggest ever stock offering. The IPO is expected to take …

Philippine fintech GCash hires banks for up to $1.5 billion IPO, sources say Read More »

Apollo considers $9.5 billion investment in Seven & i buyout, Bloomberg says

10 Jan 2025

TOKYO/HONG KONG (Reuters) -Apollo Global Management is considering investing as much as 1.5 trillion yen ($9.5 billion) in a management buyout of Japan’s Seven & i Holdings, Bloomberg News said on Friday, citing several people with knowledge of the matter. Under the plan, Seven & i’s founding family will invest 500 billion yen in equity, …

Apollo considers $9.5 billion investment in Seven & i buyout, Bloomberg says Read More »

Asia Gold-India demand slows, Lunar New Year fuels interest in other hubs

10 Jan 2025

By Rajendra Jadhav and Anushree Mukherjee (Reuters) – Gold discounts in India rose this week as consumers refrained from buying as local prices hit a month’s high, whereas the upcoming Lunar New Year festival stimulated gold buying activity in other major Asian markets. Indian dealers offered a discount of up to $17 an ounce to …

Asia Gold-India demand slows, Lunar New Year fuels interest in other hubs Read More »

Taiwan expects small impact from Trump tariffs on chip exports

10 Jan 2025

By Wen-Yee Lee TAIPEI (Reuters) – Taiwan only expects a small impact from any tariffs imposed by the incoming government of U.S. President-elect Donald Trump on semiconductor exports given their technological superiority, Economy Minister Kuo Jyh-huei said on Friday. Home to the world’s largest contract chipmaker, Taiwan Semiconductor Manufacturing Co. (TSMC), the island is a …

Taiwan expects small impact from Trump tariffs on chip exports Read More »

Tesla launches redesigned Model Y in Asia, seeking to fend off rivals

10 Jan 2025

SHANGHAI (Reuters) -Tesla launched a new version of the Model Y, its best-selling car, in China on Friday, hoping that a redesigned exterior and upgraded features inside will help it regain market share taken by rivals such as Xiaomi. The new Model Y is priced from 263,500 yuan ($35,900)，5.4% more expensive than the previous version …

Tesla launches redesigned Model Y in Asia, seeking to fend off rivals Read More »

Close Bitnami banner
Bitnami