Reuters Asia Business

Japan to propose defence spending tax increases starting in 2026, Kyodo says

11 Dec 2024

TOKYO (Reuters) – Japan’s government is planning to propose raising the country’s corporate tax starting in April 2026 to fund more defence spending, Kyodo News reported on Wednesday, aiming to double its defence budget to 2% of gross domestic product by 2027. The government will also propose increasing the tobacco tax in April 2026 and …

Japan to propose defence spending tax increases starting in 2026, Kyodo says Read More »

Myanmar’s economy to shrink as floods compound crisis, says World Bank

11 Dec 2024

By Shoon Naing (Reuters) – Myanmar’s economy is expected to shrink by 1% in the current fiscal year, the World Bank said on Wednesday, sharply downgrading its economic forecast as severe floods compounded the challenges facing the conflict-torn country. In June, the bank had projected Myanmar’s economy would grow 1% during the current fiscal year, …

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Tesla sells 21,900 EVs in China in first week of Dec, the highest in Q4

11 Dec 2024

BEIJING (Reuters) -U.S. automaker Tesla sold 21,900 electric vehicles in China in the first week of December, the highest weekly sales in the fourth quarter of 2024, according to Tesla China on Wednesday. The rare weekly sales disclosure came after Tesla logged its best month in the Chinese market this year with sales exceeding 73,000 …

Tesla sells 21,900 EVs in China in first week of Dec, the highest in Q4 Read More »

Analysis-Rival LNG supplies, Sakhalin’s depleting fields give Japan an exit from Russian gas

11 Dec 2024

By Katya Golubkova and Yuka Obayashi TOKYO (Reuters) – As Japan’s long-term contracts to secure liquefied natural gas (LNG) from Russia’s Sakhalin-2 project near expiration, rival producers see opportunity to fill the supply gap, even as Tokyo looks to switch to cleaner energy, industry insiders say. The country’s declining demand for gas plus geopolitical pressure …

Analysis-Rival LNG supplies, Sakhalin’s depleting fields give Japan an exit from Russian gas Read More »

China bans imports of ruminant animals from Poland, Croatia due to bluetongue disease

11 Dec 2024

BEIJING (Reuters) – China customs has banned the direct and indirect import of ruminant animals and related products from Poland and Croatia due to an outbreak of bluetongue disease, the General Administration of Customs said on its website on Wednesday. The move comes after Poland and Croatia reported cases to the World Organization for Animal …

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Japan’s wholesale inflation accelerates, keeps BOJ rate-hike plan in focus

11 Dec 2024

By Leika Kihara TOKYO (Reuters) -Japan’s wholesale inflation accelerated for three straight months as companies continued to pass on rising raw material and labour costs, data showed on Wednesday, keeping the central bank under pressure to raise interest rates again. The data for November comes ahead of the Bank of Japan’s two-day policy meeting ending …

Japan’s wholesale inflation accelerates, keeps BOJ rate-hike plan in focus Read More »

Mizuho director Kobayashi says companies should not overreact to Trump’s tariff threats

11 Dec 2024

By Shashwat Awasthi and Carolina Mandl NEW YORK (Reuters) -Izumi Kobayashi, director at Japan’s Mizuho Financial, Omron, and ANA, said on Tuesday that companies should not overreact to President-elect Donald Trump’s threats of imposing tariffs on Chinese goods. At an interview at the Reuters NEXT conference in New York, she said that it would be difficult to …

Mizuho director Kobayashi says companies should not overreact to Trump’s tariff threats Read More »

Warburg Pincus not considering an IPO anytime soon, CEO says

10 Dec 2024

By Echo Wang and Carolina Mandl NEW YORK (Reuters) -Warburg Pincus, a private equity firm with about $86 billion in assets under management, is not planning to explore an initial public offering anytime soon, Chief Executive Jeffrey Perlman said in an interview at the Reuters NEXT conference in New York on Tuesday. While a number of asset …

Warburg Pincus not considering an IPO anytime soon, CEO says Read More »

US sanctions Chinese firm over potentially deadly ransomware attack

10 Dec 2024

By Raphael Satter WASHINGTON (Reuters) -The United States sanctioned a Chinese cybersecurity company over an ambitious cyberattack that U.S. Treasury officials say could have killed people. The Treasury said in a statement on Tuesday that the Chengdu-based Sichuan Silence Information Technology Company and one of its employees, Guan Tianfeng, deployed malicious software to more than …

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