Reuters Asia Business

China opens up copper blending business to private firms, sources say

8 Nov 2024

By Julian Luk LONDON (Reuters) – China has allowed more private firms to blend more polluting complex copper concentrates domestically as the country that smelts half the world’s copper struggles to secure enough standard grades, three people with knowledge of the matter said. That could significantly widen the scope of copper concentrates, which are currently …

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TSMC to suspend production of advanced AI chips for China from Monday, FT reports

8 Nov 2024

(Reuters) -Taiwan Semiconductor Manufacturing Co (TSMC) has notified Chinese chip design companies that it is suspending production of their most advanced AI chips from Monday, the Financial Times reported, citing three people familiar with the matter. TSMC, the world’s largest contract chipmaker, told Chinese customers it would no longer manufacture AI chips at advanced process …

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China unveils $1.4 trln local debt package but no direct stimulus

8 Nov 2024

By Kevin Yao and Ellen Zhang BEIJING (Reuters) -China unveiled a 10 trillion yuan ($1.40 trillion) debt package on Friday to ease local government financing strains and stabilise flagging economic growth, as it faces fresh pressure from the re-election of Donald Trump as U.S. president. The measures confirm last week’s Reuters report, and mark a …

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Russia’s Yandex plans to invest in Indonesia’s AI, minister says

8 Nov 2024

JAKARTA (Reuters) – Russia’s internet giant Yandex plans to invest in Indonesia’s artificial intelligence (AI) ecosystem, the Southeast Asian country’s communications and digital minister said. Meutya Hafid, Indonesia’s communications minister, met Alexander Popovskiy, head of Yandex’s international search division, on Thursday and said the company expressed its plan to “widen the search engine platform in …

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Singapore Air flags earnings pressure from tough competition

8 Nov 2024

By Roshan Thomas (Reuters) -Singapore Airlines on Friday flagged its earnings would stay under pressure despite robust travel demand in the second half of the year, while it reported a profit fall reflecting stiff market competition coupled with rising costs. The city-state’s flag carrier said the aviation sector was struggling with macro-economic uncertainty, rising geo-political …

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China raises local government debt ceilings to revive economy

8 Nov 2024

SINGAPORE/SHANGHAI (Reuters) -China top legislative body approved a bill on Friday to allow local governments to issue 6 trillion yuan ($838.8 billion) in bonds to swap for off-balance sheet or “hidden” debt over three years, as policymakers sought to spur the sluggish economy. The standing committee of the National People’s Congress (NPC) approved the bill …

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Japan steel industry feels ‘sense of crisis’ as imports hit 10-year high

8 Nov 2024

By Yuka Obayashi TOKYO (Reuters) – The Japanese steel industry is feeling a “sense of crisis” as the country’s steel imports for the April-September period reached a 10-year high, with supply from China hitting a record high, an executive of Nippon Steel said on Friday. “We informed the government that we are closely monitoring overall …

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Indonesia preparing scenarios to anticipate Trump’s policies

8 Nov 2024

JAKARTA (Reuters) – Indonesia has prepared scenarios to anticipate the impact of potential policies from U.S. president-elect Donald Trump, a finance ministry official said on Friday. The head of the ministry’s fiscal policy agency, Febrio Kacaribu, said the scenarios were designed not only to mitigate negative impacts, but also to find opportunities under a Trump …

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Japanese chipmaker Kioxia files for IPO; sources say it’s targeting December

8 Nov 2024

By Miho Uranaka and Sam Nussey TOKYO (Reuters) -Bain Capital-backed Kioxia filed for an IPO on Friday and sources familiar with the matter said the Japanese chipmaker was targeting December for the offering. The IPO registration marks a fresh attempt to go public. Bain scrapped plans for an IPO in October after investors pushed the …

Japanese chipmaker Kioxia files for IPO; sources say it’s targeting December Read More »

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