Reuters Asia Business

(Reuters) – Goldman Sachs and Citigroup have lowered their full-year projections for China’s economic growth to 4.7%, after the world’s second-largest economy’s industrial output slowed to a five-month low in August. Weak economic activity in August has ramped up attention on China’s slow economic recovery and highlighted the need for further stimulus measures to shore …

Goldman Sachs, Citigroup cut China’s 2024 growth forecast to 4.7% Read More »

BANGKOK (Reuters) -Thailand expects less than 40 million people to sign up for its flagship digital wallet handout scheme, with the first phase set to be distributed to 14.5 million vulnerable people from Sept. 25, a finance ministry official said on Monday. The government has planned to give away 450 billion baht ($13.6 billion) to …

Thailand expects less than 40 million to join handout scheme, official says Read More »

BANGKOK (Reuters) – Thailand is looking into setting up an infrastructure fund worth 300 billion baht ($9 billion) to invest in train projects, the finance minister said on Monday. The timeframe for the study of the fund has not been set yet but it won’t be long, Pichai Chunhavajira told reporters, without giving further details. …

Thailand is studying $9 billion infrastructure fund, finance minister says Read More »

MILAN (Reuters) – Italy backs tariffs proposed by the European Commission on Chinese exports of electric vehicles (EVs), Italian Foreign Minister Antonio Tajani said on Monday before a meeting in Rome with China’s commerce minister. “We support the duties that the EU Commission proposes, to protect the competitiveness of our companies,” Tajani told daily Corriere …

Italy backs EU’s Chinese tariffs, foreign minister says Read More »

BENGALURU (Reuters) – JSW MG Motor India, a joint venture between SAIC Motor and JSW Group, said on Monday it will launch a luxury car brand, aiming to sell its first premium cars by the first three months of 2025. Under the brand, called ‘MG Select’, the company will launch four products over the next …

JSW MG Motor India to launch luxury car brand; first car by March 2025 Read More »

BEIJING (Reuters) – Beijing firmly opposes U.S. tariff hikes on Chinese imports, China’s commerce ministry said in a statement on Saturday, urging the U.S. to immediately correct its “wrongdoings” and lift all tariffs imposed on Chinese goods. “China will take necessary measures to resolutely defend the interests of Chinese companies,” the statement said. (Reporting by …

China opposes US tariff hikes, vows steps to defend its firms’ interests Read More »

BEIJING (Reuters) – Foreign direct investment into China amounted to 580.19 billion yuan ($81.80 billion) in January-August, down 31.5% from the same period last year, the Chinese commerce ministry said on Saturday. The slump was bigger than the 29.6% fall during Jan-July. ($1 = 7.0930 Chinese yuan renminbi) (Reporting by Ellen Zhang and Ryan Woo; …

China’s Jan-Aug FDI down 31.5% y/y Read More »