Reuters Asia Business

Singapore Post fires CEO over handling of whistleblower report

23 Dec 2024

By Rishav Chatterjee and Shivangi Lahiri (Reuters) -Singapore Post said on Sunday it had dismissed its chief executive and two other senior managers after an internal investigation found they had mishandled whistleblower allegations about misconduct by company employees. The firm’s shares slumped by the most in over four years as the city-state’s bourse opened for …

Singapore Post fires CEO over handling of whistleblower report Read More »

China’s Dahua Technology to exit projects in Xinjiang

23 Dec 2024

BEIJING (Reuters) – China’s video surveillance equipment maker Zhejiang Dahua Technology said that it and its subsidiaries have agreed to terminate or exit five projects they signed with local governments in China’s Xinjiang region, a stock exchange filing showed on Monday. Some of the projects, awarded between 2016 and 2017, have been terminated in advance, …

China’s Dahua Technology to exit projects in Xinjiang Read More »

S.Korean SK Inc to sell majority stake in gas unit for $1.86 billion to private equity firm

23 Dec 2024

SEOUL/ BENGALURU (Reuters) – SK Inc, the holding company of South Korea’s second-largest conglomerate SK Group, plans to sell a stake worth 2.7 trillion won ($1.86 billion) in specialty gas manufacturing unit SK Specialty to local private equity firm Hahn & Company, it said in a filing on Monday. Hahn & Co will acquire 85% …

S.Korean SK Inc to sell majority stake in gas unit for $1.86 billion to private equity firm Read More »

Moody’s raises Sri Lanka’s rating after debt overhaul approval

23 Dec 2024

(Reuters) – Credit ratings agency Moody’s on Monday raised Sri Lanka’s long-term foreign currency issuer rating to ‘Caa1’ from ‘Ca’ with a stable outlook, after the country’s creditors approved a $12.55 billion debt overhaul last week. Sri Lanka’s credit profile reflects the reduction in external vulnerability and government liquidity risk, and prospects for fiscal and …

Moody’s raises Sri Lanka’s rating after debt overhaul approval Read More »

Malaysia’s 1MDB files legal claim against Amicorp Group seeking over $1 billion for alleged fraud

23 Dec 2024

By Danial Azhar KUALA LUMPUR (Reuters) -Scandal-hit Malaysian state fund 1Malaysia Development Berhad said on Monday it has filed a legal claim of more than $1 billion against corporate services provider Amicorp Group and its CEO, alleging the firm knowingly facilitated over $7 billion in fraudulent transactions. The claim, among one of the biggest filed …

Malaysia’s 1MDB files legal claim against Amicorp Group seeking over $1 billion for alleged fraud Read More »

Sri Lanka’s inflation rate drops to minus 1.7% in November

23 Dec 2024

(Reuters) – Sri Lanka’s consumer price inflation dropped to minus 1.7% year-on-year in November after easing to minus 0.7% in October, official data showed on Monday, as the country posted a strong rebound from its worst financial crisis in decades. The National Consumer Price Index captures broad retail price inflation and is released with a …

Sri Lanka’s inflation rate drops to minus 1.7% in November Read More »

Driver in China school car crash incident handed suspended death sentence

23 Dec 2024

BEIJING (Reuters) – A driver who ploughed his car into students and pedestrians in Changde, a city in southern China, has been handed the death sentence with a two-year reprieve, Chinese state television CCTV reported on Monday. The incident resulted in 7 people suffering minor injuries, 16 with slight injuries, and 7 with non-serious harm, …

Driver in China school car crash incident handed suspended death sentence Read More »

Former BOJ head Kuroda to become adviser at private think tank

23 Dec 2024

TOKYO (Reuters) – Former Bank of Japan Governor Haruhiko Kuroda will become an adviser at the Japan Center for Economic Research from January, the non-profit, private think tank said on Monday. At the start of his decade-long tenure at the central bank that ended in April 2023, Kuroda deployed massive monetary stimulus to fire up …

Former BOJ head Kuroda to become adviser at private think tank Read More »

L’Oreal acquires South Korea’s Dr.G in skincare deal with Migros

23 Dec 2024

PARIS (Reuters) – French cosmetics giant L’Oreal said on Monday it had agreed to buy Gowoonsesang Cosmetics, which includes South Korean skincare brand Dr.G., from Swiss retailer Migros. The Korean beauty market is dominated by local brands known for being among the world’s most innovative, and increasingly popular overseas as part of a trend for …

L’Oreal acquires South Korea’s Dr.G in skincare deal with Migros Read More »

Close Bitnami banner
Bitnami