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  • NewsReuters

    Brazil surpasses Belgium as top export market for Chinese EVs, hybrids, data shows

    Brazil has overtaken Belgium as the largest export market for Chinese new energy vehicles, industry data showed, as Chinese carmakers increase sales to non-European markets amid European Union's anti-subsidy probe into Chinese electric vehicles. Exports of pure electric and plug-in hybrid cars to Brazil soared 13-fold year-on-year to 40,163 units in April, making it the biggest export market for a second straight month, according to data from the China Passenger Car Association (CPCA).

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  • NewsAFP News

    US, Chinese defense chiefs to meet following Taiwan tension

    US Defense Secretary Lloyd Austin will meet his Chinese counterpart, the Pentagon announced Friday, after Beijing carried out war games around Taiwan in a sign to the US-backed democracy's new leader.The Pentagon said that Austin would meet Chinese Admiral Dong Jun when they attend the May 31-June 2 Shangri-La Dialogue, an annual gathering of defense officials around the world.

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  • NewsAssociated Press

    Malaysia PM says his country keeps good ties with US but not China phobia, wants to engage both

    Malaysian Prime Minister Anwar Ibrahim said Thursday his country does not have a “China-phobia” policy and wants to engage both Beijing and Washington, expressing hopes for both powers to resolve their differences. Anwar, who is attending a Nikkei annual conference in Tokyo, said China is an important neighbor as it grows economically and militarily. "While I maintain excellent relations with the United States, Japan and (South) Korea, I think for Malaysia and for the region, it is better to c

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  • NewsReuters

    Exclusive-New Zealand proposes 6.6% smaller defence budget amid personnel and equipment woes

    New Zealand’s proposed defence budget will be 6.6% smaller than the current year's, according to the defence minister's office, even as the armed forces struggle with ageing equipment, a shortage of manpower and ambitions for a greater regional role. According to previously unreported data, provided to Reuters by the defence minister, the proposed defence budget will fall to NZ$4.95 billion ($3.03 billion) for the year that ends in June 2025. This year's defence budget was NZ$5.3 billion.

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  • BusinessReuters

    Manulife's strong Asia growth pushes stock to over 15-year high

    Shares of Canadian insurer Manulife Financial Corp rose to a high not seen in more than 15 years on Thursday, after its first-quarter earnings beat analysts' estimates driven by strong growth in Asia, one of its most important markets. After market close on Wednesday, Manulife reported a 16% jump in core earnings that was boosted by a 39% rise in profit from Asia and 25% in its global wealth and asset management business. "Solid quarter, led by Asia," National Bank analyst Gabriel Dechaine wro

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  • BusinessReuters

    Shell to sell Singapore refinery, petchem assets to Chandra Asri and Glencore

    SINGAPORE (Reuters) -Shell said on Wednesday it has agreed to sell its refinery and petrochemical assets in Singapore, Asia's main oil hub, to a joint venture between Indonesian chemicals firm Chandra Asri and Swiss miner and commodities trader Glencore. Reuters reported last August that Shell had hired Goldman Sachs to explore a potential sale of its refining and petrochemical plants in Singapore as part of a broader strategic review globally to become a lower-carbon operator.

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  • NewsReuters

    Cambodia says it will cut shipping through Vietnam by 70% with new China-funded Mekong canal

    Cambodia plans to cut shipping through Vietnamese ports by 70% as a result of a $1.7 billion China-funded upgrade of a canal connecting the Mekong River basin to the Cambodian coast, the country's deputy prime minister told Reuters. Sun Chanthol downplayed environmental concerns about the Funan Techo canal slated to break ground later this year, and dismissed speculation that it could be used to allow upriver access for Chinese warships as "baseless". The project, to be completed by 2028, has

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  • BusinessReuters

    Amazon to spend nearly $9 billion to expand cloud infra in Singapore

    The investment adds to the S$11.5 billion the company has already invested in the Asia Pacific Region till 2023, bringing its total planned spend to more than S$23 billion by 2028, AWS said in a statement. Southeast Asia's top leaders are scrambling for a bigger slice of the global tech pie, with Malaysia, Vietnam and Singapore hosting Nvidia CEO Jensen Huang in December, and Apple CEO Tim Cook visiting Singapore, Vietnam and Indonesia last month.

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  • NewsReuters

    Thai King approves ex-diplomat Maris as foreign minister

    Retired diplomat Maris Sangiampongsa has been endorsed as the country's new foreign minister by Thailand's king, the official Royal Gazette said on Wednesday. Maris, 65, is a former Thai ambassador to Australia and Canada and was an adviser to predecessor Parnpree Bahiddha-Nukara, who unexpectedly resigned on Sunday after he lost his deputy prime minister position in a cabinet reshuffle. The appointment comes at a crucial time as Thailand steps up diplomatic efforts in managing the ongoing con

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  • BusinessReuters

    Morning Bid: Yen slips anew with Amazon due, Treasury plans irk

    World markets stalled on Tuesday as another heavy earnings week for megacap stocks cranked up, with renewed slippage in Japan's yen and U.S. Treasuries eyed closely in the background. Major macro market moves are likely in check for now as the Federal Reserve starts its latest two day policy meeting - with Wall Street also eyeing first quarter results from two more top ten world caps Amazon and Eli Lilly. News of a larger U.S. Treasury borrowing slate for the coming quarter than previously est

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