Reuters Asia Business Archives - Page 863 of 2133

China’s ‘erotic clothing’ capital braces for Trump and e-commerce crackdown

16 Dec 2024 16 Dec 2024

By Casey Hall, Florence Lo, Xihao Jiang GUANYUN, China (Reuters) -In an industrial park being built with Chinese state support in the middle of a sprawling farming community, factory boss Lei Congrui straightens a tiny golden bell hanging off a choker on a mannequin wearing white-and-pink lingerie. What Lei calls his “erotic clothing” showroom is …

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Malaysia’s Proton launches its first electric vehicle

16 Dec 2024 16 Dec 2024

KUALA LUMPUR (Reuters) – Malaysian autos firm Proton launched its first electric vehicle on Monday, the latest entry into the local market as the country seeks to boost EV and hybrid EV use and gain a foothold in the global supply chain. Proton is majority owned by Malaysian conglomerate DRB HICOM, with the remaining 49.9% …

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Stellantis swiftly reshapes strategy under Elkann after Tavares exit

16 Dec 2024 16 Dec 2024

By Giulio Piovaccari and Nora Eckert MILAN/DETROIT (Reuters) – Steered by Chairman John Elkann, Stellantis, owner of 14 brands including Fiat, Jeep and Ram, is acting swiftly to dismantle the legacy of its former CEO and repair relations with dealers, industry partners, governments and workers. Carlos Tavares abruptly resigned on Dec. 1, almost 18 months …

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Singapore’s Wee Hur to sell Aussie student housing portfolio for $1 billion

16 Dec 2024 16 Dec 2024

(Reuters) – Wee Hur Holdings, a Singapore-based real estate investment management firm, said on Monday that it will sell its student accommodation portfolio to real estate asset manager Greystar for a gross price of A$1.6 billion ($1.02 billion). Under the agreement, Wee Hur will retain an indirect stake in the portfolio via its Australian unit …

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Modi says India plans to supply LNG to Sri Lanka, connect power grids

16 Dec 2024 16 Dec 2024

NEW DELHI (Reuters) – India plans to supply liquefied natural gas to Sri Lanka’s power plants and will work on connecting the power grids of the two countries as well as lay a petroleum pipeline between the neighbours, Indian Prime Minister Narendra Modi said on Monday. Modi was speaking at a joint press briefing with …

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PetroChina to start metals trading, eyeing energy transition

16 Dec 2024 16 Dec 2024

By Amy Lv and Siyi Liu (Reuters) – State oil giant PetroChina plans to begin trading metals used in the energy transition, according to the new team head, joining the global energy majors that are diversifying their portfolios into the commodities. Richard Fu, a commodities and financial industry veteran of more than three decades, has …

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Japan’s MUFG Bank apologises for safe deposit box thefts, vows better compliance

16 Dec 2024 16 Dec 2024

By Anton Bridge TOKYO (Reuters) – The CEO of MUFG Bank apologised on Monday for the theft by a former employee of more than 1 billion yen ($6.5 million) in customer assets from safe deposit boxes and promised better compliance measures. The banking arm of Mitsubishi UFJ Financial Group said the employee used a spare …

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China to boost direct fiscal support to consumers

16 Dec 2024 16 Dec 2024

BEIJING (Reuters) -China will promote stable growth in household income in 2025 by stepping up direct fiscal support to consumers and boosting social security, the state-run Xinhua news agency said on Monday. China has set expanding domestic demand as a top task to spur growth next year, as significant pockets of weakness in the crisis-hit …

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China’s Jan-Nov government land sales revenue falls 22.4% y/y

16 Dec 2024 16 Dec 2024

BEIJING (Reuters) – Revenue from land sales by Chinese local governments dropped 22.4% year-on-year in the first eleven months of the year, finance ministry data showed on Monday. The decline was 22.9% in the period from January to October. Such revenue, once a major contributor to local governments’ financial resources, has fallen sharply as developers …

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China’s fiscal revenue falls 0.6% in January-November

16 Dec 2024 16 Dec 2024

BEIJING (Reuters) – China’s fiscal revenue in the first 11 months of 2024 fell 0.6% from a year earlier, narrowing from a 1.3% slide in the January-October period, the finance ministry data showed on Monday. Fiscal expenditure grew 2.8% in the first 11 months, compared with a 2.7% increase in the first 10 months. Recovery …

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Reuters Asia Business﻿﻿

Reuters Asia Business