Reuters Asia Business

JAKARTA (Reuters) – Indonesia’s President Prabowo Subianto called on Tuesday for more efficient government spending amid expected economic challenges caused by rising geopolitical tensions. Prabowo, who took office in October, told his ministers and government officials that such tensions are expected to slow the growth of the world’s major economies, without mentioning any country although …

Indonesia president calls for more prudent government spending amid global tensions Read More »

MANILA (Reuters) – The Philippine economy is expected to grow more slowly than first thought this year after the country was hit by a series of typhoons but should be more robust in 2025 and 2026, the World Bank said on Tuesday. Gross domestic product (GDP) will expand by 5.9% in 2024, slightly less than …

Philippines GDP growth hit by typhoons, but outlook robust, says World Bank Read More »

SEOUL (Reuters) – South Korea’s opposition-controlled parliament on Tuesday approved a government budget of 673.3 trillion won ($470.64 billion) for 2025, cut from 677.4 trillion won proposed by the government. ($1 = 1,430.6200 won) (Reporting by Jihoon Lee; Editing by Himani Sarkar)

BEIJING (Reuters) – China’s yuan-denominated exports to Russia fell at a double digit pace in November, worsening sharply from 24% growth in October and marking the first decline in four months, Chinese customs data showed on Tuesday. Outbound shipments to Russia shrank 10.5% last month from a year earlier, the first drop since July. Imports …

China’s exports to Russia drop for first time in four months Read More »

BEIJING (Reuters) – Chinese electric vehicle giant CATL has plans to set up a battery joint venture with Stellantis in Spain, according to a CATL stock filing on Tuesday. The JV in Spain’s Zaragoza is estimated to have investment totalling 4.04 billion euros ($4.26 billion). ($1 = 0.9480 euros) (Reporting by Beijing newsroom; Editing by …

China’s CATL plans to set up $4 billion battery JV in Spain with Stellantis Read More »

BEIJING (Reuters) – Starbucks China has appointed its first Chief Growth Officer (CGO), Chinese media outlet Late Post reported on Tuesday. The media outlet said the company has hired Tony Yang, former partner and president of digital marketing firm Tezign, to the role. The U.S. coffee giant and Tezign did not immediately respond to Reuters’ …

Starbucks appoints first China chief growth officer – media Read More »