Reuters Asia

No discussion of stake sale in China BMW joint venture – Shenyang document

BERLIN (Reuters) -BMW’s partner in China has no plans to sell its stake in their joint venture, a document seen by Reuters on Thursday showed, contradicting media reports earlier this week. “Our company and Brilliance China have never talked about the sale of Brilliance China’s 25% stake in BMW Brilliance Automotive,” said the letter from …

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India’s Tata Communications posts fastest quarterly revenue growth in 9 years

BENGALURU (Reuters) – India’s Tata Group-owned Tata Communications reported its fastest quarterly revenue growth in nearly nine years on Thursday, boosted by strength in its mainstay data services business. Revenue rose 24.4% to 56.33 billion rupees (nearly $678 million) for the quarter ended Dec. 31, according to an exchange filing. The company, which provides services …

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China tightens party’s oversight of central bank policy panel

BEIJING (Reuters) – China’s cabinet has amended rules for the central bank’s monetary policy committee to strengthen the Communist Party’s leadership over key policy issues, the official Xinhua News Agency reported on Thursday. China has in recent months launched a sweeping regulatory overhaul to tighten the party’s grip on the sprawling financial sector, amid an …

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India far better placed to deal with geopolitical challenges, says cenbank chief

By Una Galani DAVOS, Switzerland, Jan 18 (Reuters) – Slowing global growth is reason for concern, a cause of worry but India is better placed to deal with various geopolitical challenges, Reserve Bank of India Governor Shaktikanta Das said at the World Economic Forum in Davos on Thursday. “Geopolitical flashpoints are continuing, new flashpoints are …

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Vietnamese EV maker VinFast misses 2023 deliveries goal, but Q4 up

HANOI (Reuters) – Vietnamese electric vehicle (EV) maker VinFast on Thursday said it delivered nearly 35,000 cars in 2023, below its target of at least 40,000 units, blaming slow EV adoption in some regions, tough competition and uncertain economy. The deliveries in the last three months of 2023, however, increased 35% against the third quarter …

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TSMC bullish on AI demand, forecasts 20% revenue growth this year

By Yimou Lee and Faith Hung TAIPEI (Reuters) -Taiwanese chipmaker TSMC projected on Thursday more than 20% growth in 2024 revenue on booming demand for high-end chips used in artificial intelligence (AI) applications even as the broader industry deals with weak smartphone and electric vehicle sales. Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world’s largest …

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