Reuters Asia Business

Philippines’ Marcos signs into law record $109 billion budget for 2025

30 Dec 2024

MANILA (Reuters) – Philippine President Ferdinand Marcos Jr. signed the 2025 budget into law on Monday, saying a planned 10% increase in government spending to a record 6.33 trillion pesos ($109.2 billion) would support economic growth and reduce poverty. The spending is higher than a projection of 6.18 trillion pesos announced earlier this month, when …

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Japan’s factory activity shrinks at slower pace, PMI shows

30 Dec 2024

TOKYO (Reuters) – Japan’s factory activity shrank at a slower pace in December as declines in production and new orders eased, a private-sector survey showed on Monday, edging closer to stabilisation after recent falls. The final au Jibun Bank Japan manufacturing purchasing managers’ index (PMI) rose to 49.6 in December, indicating the softest contraction in …

Japan’s factory activity shrinks at slower pace, PMI shows Read More »

Chinese youth flock to civil service, but slow economy puts ‘iron rice bowl’ jobs at risk

30 Dec 2024

By Laurie Chen BEIJING (Reuters) – A record 3.4 million young Chinese flocked to the civil service exam this year, lured by the prospect of lifetime job security and perks including subsidised housing as an economic slowdown batters the private sector and youth unemployment remains high. Applicant numbers, which surged by over 400,000 from last …

Chinese youth flock to civil service, but slow economy puts ‘iron rice bowl’ jobs at risk Read More »

Goodman Group shines among Australian property firms on data-centre push

30 Dec 2024

By Aaditya GovindRao and Roushni Nair (Reuters) – Goodman Group’s stock has been on a hot streak this year, shining bright among its Australian real-estate peers as the artificial intelligence boom has driven a frenzied demand for data centres. Global “hyperscalers”, or large-scale cloud service providers, such as Amazon, Microsoft and Meta, have been spending …

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North Korea’s Kim lauds new fish farm, calls for regional development

30 Dec 2024

By Hyonhee Shin SEOUL (Reuters) – North Korean leader Kim Jong Un has celebrated the completion of a new fish farm in the east coast and called for developing rural areas, state media KCNA said on Monday, amid concerns over chronic economic challenges. Kim attended an inauguration ceremony of the Sinpho City Offshore Farm on …

North Korea’s Kim lauds new fish farm, calls for regional development Read More »

Chinese Salt Typhoon cyberespionage targets AT&T, Verizon but networks secure, carriers say

29 Dec 2024

By Surbhi Misra and David Shepardson (Reuters) -The Chinese-linked Salt Typhoon cyberespionage operation targeted AT&T and Verizon’s systems, but the wireless carriers’ U.S. networks are now secure as they work with law enforcement and government officials, the companies said on Saturday in their first acknowledgment of the attacks. “We detect no activity by nation-state actors in …

Chinese Salt Typhoon cyberespionage targets AT&T, Verizon but networks secure, carriers say Read More »

China to cut import tariffs on some recycled copper and aluminium raw materials

28 Dec 2024

SHANGHAI (Reuters) – China will reduce import tariffs on ethane and certain recycled copper and aluminium raw materials from next year, the government said on Saturday. The Ministry of Finance announced adjustments to various import tariff categories, effective Jan. 1, aimed at increasing imports of high-quality products, expanding domestic demand and promoting high-level opening-up, it …

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What happens next to workers in ‘slavery-like conditions’ at BYD’s site in Brazil?

28 Dec 2024

By Fabio Teixeira RIO DE JANEIRO (Reuters) – The 163 Chinese workers found by Brazil’s labor ministry in what it described as “slavery-like conditions” at a factory construction site owned by Chinese electric vehicle producer BYD have been removed and taken to hotels, while officials negotiate with BYD and the Jinjiang Group about further measures …

What happens next to workers in ‘slavery-like conditions’ at BYD’s site in Brazil? Read More »

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