Reuters Asia

U.S. seeks to prevent China from benefiting from $52 billion chips funding

By David Shepardson WASHINGTON (Reuters) -The U.S. Commerce Department on Tuesday released proposed rules to prevent $52 billion in semiconductor manufacturing and research funding from being used by China and other countries deemed of concern. The proposal limits recipients of U.S. funding from investing in the expansion of semiconductor manufacturing in foreign countries of concern …

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In Ukraine to offer solidarity, Japan’s Kishida tours Bucha massacre site

By Valentyn Ogirenko and Yoshifumi Takemoto BUCHA, Ukraine/TOKYO (Reuters) -Japan’s Fumio Kishida arrived in Kyiv for a meeting with President Volodymyr Zelenskiy on Tuesday, a rare, unannounced visit by a Japanese leader that underscored Tokyo’s emphatic support for Ukraine against Russia’s invasion. Kishida had been the only leader of the Group of Seven (G7) rich …

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China’s Tencent Music posts declining quarterly revenue but beats estimates

By Josh Ye and Eva Mathews (Reuters) -Tencent Music Entertainment Group reported its fifth consecutive quarter marked by declining revenue on Tuesday but continued growth in paying users and a recovery in advertising helped it beat analysts’ estimate.  Total revenue of the company, China’s answer to Spotify, stood at 7.43 billion yuan ($1.08 billion) in …

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Debt-stricken Sri Lanka to get first tranche of IMF bailout funds in two days

By Uditha Jayasinghe and Swati Bhat COLOMBO (Reuters) – Sri Lanka will get the first $330 million tranche of an International Monetary Fund bailout in the next two days, the global lender said on Tuesday, putting the onus on the cash-strapped country to rein in its debt to sustainable levels. Economic mismanagement coupled with the …

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India cenbank sold net $384 million in spot forex market in January – bulletin

MUMBAI(Reuters) – The Reserve Bank of India (RBI) sold net $384 million in the spot foreign exchange market in January, the central bank’s monthly bulletin showed on Tuesday. The RBI said it purchased $12.90 billion and sold $13.29 billion in the spot market in the month. In comparison, it bought net $3.84 billion in the …

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Indian banks can endure global banking turmoil fallout-S&P

MUMBAI (Reuters) – Indian lenders are capable of enduring any potential contagion effects emanating from the U.S. banking turmoil and UBS’s recent takeover of embattled Swiss lender Credit Suisse given their manageable exposures to their global counterparts, S&P Global Ratings said on Tuesday. “Strong funding profiles, a high savings rate, and government support are among …

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India central bank optimistic on growth, sees no big hit from bank turmoil- bulletin

By Swati Bhat MUMBAI (Reuters) – India’s economy is gathering steady pace and is unlikely to face major repercussions from the recent global financial turmoil, the Reserve Bank of India said in its bulletin released on Tuesday. “Unlike the global economy, India would not slow down – it would maintain the pace of expansion achieved …

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Chinese COVID data from animal market gives clues on origins – report

By Jennifer Rigby and Natalie Grover LONDON (Reuters) – Data from the early days of the COVID-19 pandemic, briefly uploaded to a global database by Chinese scientists, gives crucial information on the outbreak’s origins, including of an animal market in the Chinese city of Wuhan, researchers said. The virus was first identified in Wuhan in …

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