Reuters Asia Business

China Jan-Sept gold consumption slides 11% as high prices deter buying appetite

28 Oct 2024

By Amy Lv and Joe Cash BEIJING (Reuters) -China’s gold consumption in the first three quarters of 2024 slid 11.18% from the same period a year ago to 741.732 metric tons as high prices dented buying interest for jewellery products, the state-backed gold association said on Monday. Gold jewellery buying, which accounts for 53.9% of …

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China’s private tutoring firms emerge from the shadows after crackdown

28 Oct 2024

By Casey Hall and Laurie Chen SHANGHAI/BEIJING (Reuters) – China is quietly easing regulatory pressure on private tutoring operators as it looks to revive a flagging economy, spurring a nascent revival of a sector hit hard by a government crackdown three years ago, according to industry figures, analysts and data reviewed by Reuters. There has …

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Eli Lilly gets nod to launch weight-loss drug in Hong Kong – Bloomberg News

28 Oct 2024

(Reuters) -Eli Lilly expects to start selling its weight-loss drug in Hong Kong as early as the end of this year, Bloomberg News reported on Sunday. The drugmaker has received approval from the Hong Kong government to sell its tirzepatide injections — branded as Mounjaro — in a device called Kwikpen for both long-term weight …

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Factbox-Which companies back ammonia-fuelled ships to help cut emissions?

28 Oct 2024

SINGAPORE (Reuters) – The shipping industry is looking into ammonia as an alternative fuel for powering ships, amid other ongoing plans to cut carbon emissions and achieve net-zero by 2050. [L4N3LF0FU] Here is a list of companies with ammonia-fuelled ship projects: NIPPON YUSEN KAISHA (NYK) NYK , with IHI Power Systems and Nippon Kaiji Kyokai …

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Morning Bid: Japan election shockwaves kick off critical week

27 Oct 2024

By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets.  A hugely pivotal week for world markets begins with investors in Asia already bracing for volatile trading in Japanese assets on Monday after Prime Minister Shigeru Ishiba lost his parliamentary majority in the country’s general election. Ishiba’s Liberal Democratic Party has …

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TSMC suspended shipments to China firm after chip found on Huawei processor, sources say

27 Oct 2024

(This Oct. 26 story has been refiled to fix the name of the Research Institute for Democracy, Society and Emerging Technology in paragraph 13) By Karen Freifeld and Fanny Potkin (Reuters) – Taiwan Semiconductor Manufacturing Company suspended shipments to China-based chip designer Sophgo after a chip it made was found on a Huawei AI processor, …

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South Korea says it may consider additional oil tax cut

27 Oct 2024

SEOUL (Reuters) – South Korea is experiencing minimal economic impact following Israel’s retaliatory strike on Iran, but may consider a further reduction in fuel oil tax if global market volatility increases, President Yoon Suk Yeol’s office said on Sunday. The comments, made during a meeting to assess the security and economic situation, follow the government’s …

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China’s Sept industrial profits post steepest fall of the year

27 Oct 2024

By Qiaoyi Li and Kevin Yao BEIJING (Reuters) -China’s industrial profits plunged in September, recording the steepest monthly decline of the year, official data showed on Sunday, as policymakers ramp up stimulus to revitalise economic growth. Profits in September fell 27.1% from a year earlier, following a 17.8% fall in August, while earnings slipped 3.5% …

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China-led AIIB head criticizes advanced nations for trade barriers

26 Oct 2024

By Leika Kihara WASHINGTON (Reuters) – Asian Infrastructure Investment Bank (AIIB) President Jin Liqun on Saturday criticized advanced economies for creating trade barriers including for renewable energy goods, saying there was “no longer free trade” in the global economy. The United States last month locked in steep tariff hikes on Chinese imports, including a 100% …

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China expresses concern over tariffs, sanctions in US meeting

26 Oct 2024

HONG KONG (Reuters) – China expressed concern over U.S. tariffs and Russia-related sanctions during a meeting of the two countries’ Economic Working Group in Washington, China’s finance ministry said on Saturday. China’s Vice Minister of Finance Liao Min also introduced about the basket of stimulus policies the world’s second largest economy rolled out recently during …

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