Reuters Asia Business

By Gayatri Suroyo and Stefanno Sulaiman JAKARTA (Reuters) – Indonesia’s central bank on Wednesday held interest rates steady, as expected, preferring to focus on stabilizing the rupiah before possibly easing rates later this year. Bank Indonesia (BI) kept the benchmark 7-day reverse repurchase rate at 6.25%, where it has been since April, as expected by …

Indonesia central bank keeps rates steady, focuses on stabilizing the rupiah Read More »

BEIJING (Reuters) – China’s SAIC Motor said on Wednesday it will take further legal measures to protect its rights and interests following the European Commission’s draft findings from its anti-subsidy investigations into Chinese electric vehicles. SAIC’s 2024 overall sales encountered some short-term fluctuations due to pressure from Europe and the United States, the company said …

China’s SAIC vows to take further measures after EU draft findings on subsidies Read More »

MOSCOW (Reuters) – Sergei Chemezov, the head of Russia’s vast Rostec corporation, said that he was grateful to Chinese automotive makers for filling the gap created by the exit of Western brands but that the state could consider protective measures on assembled cars. Rostec is by far Russia’s most powerful weapons and automotive player with …

Russia’s Rostec chief suggests protective measures on assembled car imports Read More »

BANGKOK (Reuters) -Thailand’s central bank left its key interest rate unchanged for a fifth straight meeting on Wednesday, as widely expected, despite a sluggish economy and fiscal policy uncertainty after a court dismissed the prime minister.The Bank of Thailand’s (BOT) monetary policy committee voted 6-1 to hold the one-day repurchase rate at 2.50%, the highest …

Thai central bank holds its key rate at 2.50% Read More »

By Colleen Howe BEIJING (Reuters) – China, the world’s largest builder of coal-fired power stations, cut the number of permits for new plants by nearly 80% in the first half of 2024, an environmental group report finds, saying time would tell whether it was a turning point. The Greenpeace East Asia report, based on new …

China has cut new coal power plant permits by nearly 80%, Greenpeace says Read More »

TOKYO (Reuters) -Japan set a second-straight monthly record for visitors in July, official data showed on Friday, as the weak yen and summer holidays propelled a tourism boom. The number of foreign visitors for business and leisure was 3.29 million, an all-time high for any month and topping the previous record of 3.14 million in …

Japan sees record visitors for second straight month on weak yen Read More »

By Selena Li HONG KONG (Reuters) -Hong Kong’s bourse has booked its first profit growth in three quarters, marking record revenue and income for an April-June period as IPO and trading activity improved. Net income for Hong Kong Exchanges and Clearing (HKEX) climbed 9% from a year earlier to HK$3.16 billion ($405 million) on a …

Hong Kong bourse logs first profit in three quarters, IPOs pick up Read More »

(Reuters) – Goldman Sachs on Tuesday said it expected Brent crude prices to fall to $68 per barrel by late 2025 if China oil demand remains flat through end of next year. Brent futures were trading around $77 a barrel by 11:46 a.m. EDT (1546 GMT) on Tuesday, while U.S. West Texas Intermediate (WTI) crude …

Brent likely to take a hit from soft demand in China, says Goldman Read More »

By Julie Zhu HONG KONG (Reuters) – Auditor PwC has lost its largest mainland China-listed client, Bank of China, to rival EY, adding to an exodus of clientele amid a regulatory investigation into its work on troubled property developer China Evergrande Group. State-owned Bank of China had as recently as March stated plans to reappoint …

PwC loses major client Bank of China amid regulatory probe Read More »