Reuters Asia - Squid Business

India trade department backs lower tax on hybrid cars in green push- sources

By Aditi Shah, Shivangi Acharya and Sarita Chaganti Singh NEW DELHI (Reuters) -India’s trade department has backed lowering taxes on hybrid vehicles to help the transition to cleaner energy sources, following demands by Japanese car makers, five government and industry sources told Reuters. The move could irk some local carmakers. India’s combined sales and additional …

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China blocks pig, boar imports from Bangladesh due to African swine fever

By Mei Mei Chu BEIJING (Reuters) – China has prohibited the import of pig, pig products and wild boars from Bangladesh after the World Organisation for Animal Health (WOAH) reported an outbreak of African swine fever at a farm in the country’s major port city of Chittagong. China customs said the move is to protect …

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South Korea to provide $3 million aid to Japan for quake relief

SEOUL (Reuters) – South Korea will provide $3 million worth of humanitarian aid to Japan for Noto peninsula earthquake relief, its foreign ministry said on Thursday. “The government hopes that the aid will help recovery work of the damaged areas and local residents to return to daily lives at an early time,” it said. The …

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Retailers rush to avoid delays to spring collections due to Red Sea attacks

By Siddharth Cavale and Helen Reid NEW YORK/LONDON (Reuters) – Retailers worldwide are stocking up on goods before China’s Lunar New Year holiday and seeking air or rail alternatives to transportation via the Red Sea in a scramble to avoid empty shelves this spring, executives and experts told Reuters. One European retailer said it was …

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OECD urges Japan’s central bank to gradually raise interest rates

By Leika Kihara TOKYO (Reuters) – The Bank of Japan should gradually raise short-term interest rates and make its bond yield control policy more flexible, if inflation stays around its 2% target and is accompanied by sustained wage growth, the OECD said on Thursday. While the BOJ made tweaks to yield curve control (YCC) last …

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Surging tanker rates close the door on US crude oil shipments to Asia

By Muyu Xu and Arathy Somasekhar SINGAPORE/HOUSTON (Reuters) -The economic incentive to import oil from the U.S. Gulf Coast to Asia has closed as the cost of booking supertankers on the route has surged amid a jump in bookings for the vessels, traders said this week. With the arbitrage for U.S. shipments closed, Asian refiners …

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China warns its citizens in Papua New Guinea to step up precautions amid violence

BEIJING (Reuters) – The Chinese embassy in Papua New Guinea issued a notice on Thursday reminding Chinese citizens and organizations in the country to strengthen security precautions as a wave of riots, vandalism and looting hits the capital. In a statement, the embassy said there were localized riots, vandalism and looting, including at number of …

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US, Chinese officials discuss law enforcement issues including fentanyl

WASHINGTON (Reuters) – Senior U.S. and Chinese officials, in a virtual meeting on Wednesday, discussed cooperating on law enforcement issues including the illicit flow of synthetic drugs such as fentanyl, the U.S. Department Of Homeland Security said. U.S. Homeland Security Secretary Alejandro Mayorkas and Chinese Minister of Public Security Wang Xiaohong participated in the meeting, …

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Dozens of US lawmakers back resolution supporting Taiwan democracy

By Michael Martina and Patricia Zengerle WASHINGTON (Reuters) -Dozens of U.S. lawmakers co-sponsored legislation on Wednesday praising democracy in Taiwan ahead of its presidential and parliamentary elections, prompting China to call for the U.S. to stop official contact with the island. “Resolved, That the Senate … is committed to supporting Taiwan’s self-defense and the liberty …

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Maldives upgrades ties with China amid pivot from India

By Joe Cash BEIJING (Reuters) – China and the Maldives upgraded their relationship on Wednesday during newly elected President Mohamed Muizzu’s first state visit to Beijing, following a campaign in which he cast China’s regional rival India as a threat to sovereignty. Chinese President Xi Jinping, speaking at the Great Hall of the People, called …

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