Reuters Asia - Squid Business

Chinese property developer Kaisa forecasts loss of up to about $2 billion

(Reuters) – Embattled Chinese property developer Kaisa Group Holdings on Friday forecast a net loss of 12 billion yuan to 14 billion yuan ($2.04 billion) for fiscal 2022, as delivery delays hurt its sales. The Shenzhen-based company earlier this month, published its long-delayed results for fiscal 2021 in which it reported a loss of 13.26 …

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India hikes securities transaction tax on futures, options contract

NEW DELHI (Reuters) -India has raised the securities transaction tax (STT) on futures and options contracts, the government said in amendments to the finance bill, 2023, passed on Friday. STT on options contracts were raised to 0.0625% from 0.05%, the finance ministry said, correcting figures issued in the finance bill earlier in the day. …

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Philippines, China to use diplomacy to address maritime issues

By Karen Lema and Neil Jerome Morales MANILA (Reuters) – Maritime issues between the Philippines and China remain a “serious concern”, a Philippine official said on Friday, as the countries pledged to use diplomacy to resolve differences peacefully during high-level talks. The Philippines hosted this week the first in-person meeting between diplomats from the countries …

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Spain says world must listen to China’s voice to end war in Ukraine

MADRID (Reuters) – The world should listen to China’s voice in order to find a way out of the war in Ukraine, Spanish Prime Minister Pedro Sanchez said on Friday, ahead of his state visit to Beijing next week. “China is a global actor, so obviously we must listen to its voice to see if …

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China’s top diplomat: Confident about ties with New Zealand

BEIJING (Reuters) -China regards New Zealand as a key partner and has confidence in stable bilateral ties, China’s top diplomat Wang Yi said on Friday, just as the South Pacific nation showed signs of taking a harder stance on China’s presence in the region. China and New Zealand have always respected and trusted each other, …

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Who is Rahul Gandhi, the convicted ‘prince’ of Indian politics?

By YP Rajesh and Krishn Kaushik NEW DELHI (Reuters) -Indian opposition leader Rahul Gandhi has never been a minister in a federal or state government, has not led his Congress party to a general election victory, and quit as party chief after it was demolished in the last parliamentary polls in 2019. Yet he remains …

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IMF official says Pakistan must explain fuel-pricing scheme before any loan deal

By Asif Shahzad and Ariba Shahid ISLAMABAD (Reuters) -A long-awaited loan agreement between Pakistan and the International Monetary Fund (IMF) will be signed once a few remaining points, including a proposed fuel pricing scheme, are settled, an IMF official said on Friday. Pakistan and the IMF have been negotiating since early February on an agreement …

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South Korea’s LGES in talks with Toyota to supply EV batteries -CEO

SEOUL (Reuters) – South Korean battery giant LG Energy Solution Ltd is in talks with Toyota Motors Corp to supply electric vehicle (EV) batteries, LGES Chief Executive Officer said on Friday. When asked about the negotiation progress with Toyota, LGES Chief Executive Officer Kwon Young Soo said that it has been going well. “We are …

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Indian opposition dealt major blow as parliament bars Congress leader Gandhi

By Rupam Jain and Shivam Patel NEW DELHI (Reuters) -India’s opposition Congress party suffered a major blow on Friday when parliament disqualified its leader, Rahul Gandhi, a day after a court convicted him of defamation for comments that many deemed insulting to Prime Minister Narendra Modi. Gandhi “stands disqualified from the membership of Lok Sabha …

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Chinese food delivery giant Meituan beats Q4 estimates with 21.4% revenue jump

By Casey Hall SHANGHAI (Reuters) -Chinese food delivery giant Meituan posted a bigger-than-expected 21.4% rise in quarterly revenue on Friday as it fended off competition from powerful rivals such as Alibaba-backed Ele.me. Meituan – whose so-called super app provides services ranging from bike-sharing, movie ticketing, mapping, to food delivery and restaurant bookings – said its …

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