Reuters Asia Business

Thai CP Group appoints ex-Telenor head to lead telco business

9 Jan 2025

BANGKOK (Reuters) – Thai agro-industrial conglomerate Charoen Pokphand (CP) Group appointed former chief executive of Norway’s Telenor ASA, Sigve Brekke, as head of its telecommunications and digital business, the Thai firm said on Thursday. The announcement comes two years after CP Group’s mobile unit True Corporation merged with Telenor’s Thai business, Total Access Communication (DTAC), …

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Volkswagen brand deliveries fall 1.4% in 2024

9 Jan 2025

(Reuters) – The Volkswagen brand’s global deliveries fell 1.4% to 4.8 million vehicles in 2024, with battery-electric sales down around 2.5%, Europe’s top carmaker said on Thursday. “2024 was a difficult year worldwide,” said Martin Sander, board member for sales, marketing and aftersales, pointing to a weak economy and tough competition in China, its biggest …

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Uniqlo operator posts higher Q1 profit despite sluggish China results

9 Jan 2025

TOKYO (Reuters) – The operator of the Uniqlo global clothing chain reported first quarter results on Thursday that trailed analyst forecasts as a sharp decline in profit in China overshadowed strong sales in its home market of Japan. Fast Retailing said operating profit rose 7.4% to 157.6 billion yen ($996.84 million) in the three months …

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Unilever’s Indonesia headache worsens with boycott as local brands seize the day

9 Jan 2025

By Richa Naidu and Stefanno Sulaiman LONDON/JAKARTA (Reuters) – A boycott against Unilever and other multinationals operating in Israel has worsened the global consumer company’s loss of market share in Indonesia, Southeast Asia’s largest economy, where it is battling smaller, often cheaper local rivals. Unilever, like other big consumer goods companies, has been under fire …

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Pertamina unit to produce ISCC-certified SAF in Q1

9 Jan 2025

JAKARTA (Reuters) – Kilang Pertamina Internasional, refinery unit of Indonesia’s state owned energy firm Pertamina, aims to produce its first certified sustainable aviation fuel (SAF) in the first quarter of this year, the company said on Thursday. The firm received certification for SAF in December including the International Sustainability Carbon Certification(ISCC) Carbon Offsetting and Reduction …

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Seven & i, at centre of M&A tussle, sees quarterly profit tumble

9 Jan 2025

By Anton Bridge TOKYO (Reuters) – Japan’s Seven & i Holdings, operator of the 7-Eleven convenience store chain, said operating profit fell 24% in the latest quarter, missing analysts’ estimates, as inflation hit consumer spending in Japan and North America. The poor showing piles pressure on the sprawling retailer as it tries to fend off …

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Idemitsu to begin trial of non-edible oilseed crop for aviation fuel

9 Jan 2025

TOKYO (Reuters) – Idemitsu Kosan will begin a trial plantation of the non-edible oilseed tree crop Pongamia in Australia from mid-January to assess its potential as a feedstock for sustainable aviation fuel (SAF), Japan’s No.2 crude oil refiner said on Thursday. The plantation will be conducted in collaboration with Terviva, a U.S. company with over …

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BOJ sees widening wage hikes, signals chance of near-term rate hike

9 Jan 2025

By Leika Kihara TOKYO (Reuters) – Wage hikes are broadening in Japan as structural labour shortages have made firms more aware of the need to keep hiking pay, the central bank said, suggesting that conditions for a near-term interest rate hike were continuing to fall into place. Some firms were already examining by how much …

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Korea Zinc in talks with US buyers to supply antimony, chairman says

9 Jan 2025

SEOUL (Reuters) -Korea Zinc Chairman Yun B. Choi said on Thursday that it is in preliminary talks with some U.S. entities to supply antimony, after China’s export ban to the U.S. disrupted the market for the mineral used in semiconductors. Choi told reporters at a briefing that the company was interested in long-term contracts, and …

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