Reuters Asia

India’s Jindal Stainless posts Q2 profit decline on lower steel prices

(Reuters) – India’s Jindal Stainless reported a drop in second-quarter profit on Thursday, as falling steel prices offset a drop in input costs. The company’s consolidated profit after tax fell 20% to 6.09 billion rupees ($72.4 million) for the three months ended Sept. 30. The stainless steel maker’s net revenue came in at 97.77 billion …

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Wise becomes first foreign firm to gain direct access to Japan’s payment clearing network

By Anton Bridge TOKYO (Reuters) – British fintech firm Wise has won approval for direct access to Japan’s bank payment clearing network, becoming the first foreign financial company to do so, it said on Thursday. The move could put pressure on banks including megabanks such as Mitsubishi UFJ and smaller players such as SBI Shinsei …

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Analysis-‘No excuses’: Thai central bank rate cut intensifies pressure on PM to spur economy

By Orathai Sriring BANGKOK (Reuters) – After months of withstanding political pressure and public bickering, Thailand’s central bank on Wednesday delivered what the country’s government had been pressing for: it cut its key interest rate, the first reduction since 2020. Now comes the hard part for Prime Minister Paetongtarn Shinawatra, an untested leader whose ruling …

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Structural impediments challenge Pakistan’s macroeconomic stability, says central bank

ISLAMABAD (Reuters) – Structural impediments are challenges to sustaining macroeconomic stability in Pakistan, the State Bank of Pakistan’s annual report on the state of the country’s economy has found, the bank said on Thursday. “Falling investment … unfavourable business environment, lack of research and development, and low productivity, alongside climate change risks continue to constrain the …

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China urges India to handle Taiwan issue cautiously after Mumbai office opening

BEIJING (Reuters) – China urged India on Thursday to handle Taiwan issues with caution and avoid interference in the improvement of Sino-India relations following the opening of another Taiwan de facto consulate in Mumbai. China opposes moves by any countries it has ties with to engage in official contacts with Taiwan, said Mao Ning, a …

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Japan’s Ishiba sends offering to Yasukuni Shrine, angering S.Korea, China

TOKYO (Reuters) – Japanese Prime Minister Shigeru Ishiba sent an offering to Tokyo’s Yasukuni Shrine, his office said on Thursday, drawing criticism from South Korea and China which view the shrine as a symbol of Japan’s militaristic past. The shrine includes 14 Japanese wartime leaders convicted as war criminals by an Allied tribunal among the …

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North Korea calls South Korea ‘hostile state’ indicating constitution change

By Jack Kim SEOUL (Reuters) -North Korea has designated South Korea a “hostile state”, its state media said on Thursday, confirming that its national assembly had amended the constitution in line with their leader’s vow to drop unification as a national goal. The North’s KCNA news agency reported that the military had blasted sections of …

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