Reuters Asia

Indonesia cuts tax breaks to discourage low quality nickel investment-minister

By Fransiska Nangoy and Stefanno Sulaiman JAKARTA (Reuters) – Indonesia has cut tax incentives to limit investment in lower quality nickel products as it aims to extract as much value as possible from its rich nickel reserves and push for further downstream investment, a cabinet minister said on Wednesday. The government is aiming for around …

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India Supreme Court clears tribunal to act against IL&FS auditors

By Arpan Chaturvedi and Jayshree P Upadhyay MUMBAI (Reuters) – India’s Supreme Court has allowed the National Company Law Tribunal (NCLT) to proceed with its enquiry and any subsequent action against the auditors of IL&FS Financial Services, a unit of Infrastructure Leasing and Financial Services that filed for bankruptcy in 2018. The Supreme Court upheld …

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India’s cost of adapting to climate change needs seen at $1 trillion by 2030 -report

By Swati Bhat MUMBAI (Reuters) – India will spend an estimated 85.6 trillion rupees ($1.05 trillion) by 2030 to adapt its various industries to be compliant with climate change norms, a report by the country’s central bank said on Wednesday. Central banks, as financial regulators, have several policy instruments at their disposal to influence investment …

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Thailand in talks with CATL, others on potential battery plants, govt official says

By Devjyot Ghoshal BANGKOK (Reuters) – Thailand is in talks with China’s CATL and other battery makers to build production facilities in Southeast Asia’s second-largest economy that has ambitions to become a regional EV production hub, a government official said. These discussions come as Thailand, a regional autos hub, pushes to become a key player …

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Freeport Indonesia must divest additional 10% stake to govt – minister

By Fransiska Nangoy and Stefanno Sulaiman JAKARTA (Reuters) – Indonesia’s investment minister said on Wednesday that copper miner Freeport Indonesia must agree to sell an additional 10% stake to the government, as negotiations get underway for the U.S. company to extend its permit to operate in the country. Bahlil Lahadalia said the government will seek …

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Chinese data provider tightens some information access for offshore users-sources

HONG KONG (Reuters) -Chinese financial data provider Wind Information Co has blocked some offshore users from accessing certain business and economic data, people with knowledge of the matter said, fuelling concern about information access in the world’s second-largest economy. Wind, one of the biggest Chinese data aggregators, has made part of its data inaccessible for …

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India’s Multiples Alternate announces $640 million first close of private equity fund

(Reuters) – Indian private equity firm Multiples Alternate Asset Management on Wednesday announced the first close of a $640 million fund aimed at investing in domestic companies. A first close allows a fund to start investing in companies while raising capital for its own fund. The Canada Pension Plan Investment Board (CPPIB), along with financial …

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Magnitude 5.6 earthquake strikes Hindu Kush region, Afghanistan – EMSC

(Reuters) – A magnitude 5.6 earthquake struck the Hindu Kush region in Afghanistan on Wednesday, the European Mediterranean Seismological Centre (EMSC) said. The quake was at a depth of 188 km (116.81 miles), EMSC said. (Reporting by Nilutpal Timsina in Bengaluru; Editing by Andrew Heavens)