Business
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
BEIJING (Reuters) - Beijing city authorities have announced subsidies for firms that purchase domestically produced artificial intelligence (AI) chips, as China seeks to develop its semiconductor industry and reduce reliance on foreign ...
Asia stocks, yen tentative with eyes on BOJ decision
By Rae Wee SINGAPORE (Reuters) - Asian shares rose cautiously on Friday as markets sobered up to the idea that U.S. rate cuts were most likely some time away, while the yen and Japanese government bonds struggled ahead of a closely watched policy ...
Pakistan central bank expected to hold rates on Monday ahead of IMF deal, Reuters poll finds
By Ariba Shahid KARACHI (Reuters) - Pakistan's central bank is widely expected to hold its key interest rate at a record 22% for the seventh straight policy meeting on Monday as Pakistan gears up for an International Monetary Fund board approval ...
South Korea's public finances no longer a credit rating 'strength', Fitch says
By Jihoon Lee SEOUL (Reuters) - South Korea's public finances are no longer a strength for its sovereign credit rating but are now a neutral factor requiring near-term efforts to contain the rise in debt, global ratings agency Fitch said. "We've ...
Yen at its weakest in decades as BOJ meets
By Tom Westbrook SINGAPORE (Reuters) - The yen was parked by a 34-year low on the dollar and decade lows on other crosses ahead of a Bank of Japan meeting where interest rates are expected to stay low, while the dollar dipped elsewhere on ...
Oil prices rise as US official eases market concerns over economic headwinds
By Georgina McCartney (Reuters) - Oil prices rose in early trade on Friday, as players took stock of the U.S. Treasury secretary's comments that the country's economy is likely in a stronger position than indicated by weak first-quarter data, ...
Global economy set to stay on a roll for the rest of the year - Reuters poll
By Hari Kishan BENGALURU (Reuters) - The global economy is likely to carry its solid momentum for the rest of the year and into 2025, defying earlier expectations of a slowdown, according to a Reuters poll of economists who said stronger growth ...
Japan concerned about weak yen's negative effects, Finance Minister says
By Satoshi Sugiyama and Makiko Yamazaki TOKYO (Reuters) -Japan is concerned about negative effects of the weak yen, Finance Minister Shunichi Suzuki said on Friday, in a fresh warning against speculators as the currency has continued to slide to lows ...
BHP shares drop on value concerns after $39 billion bid for Anglo American
By Scott Murdoch and Melanie Burton (Reuters) -BHP Group shares fell 4% on Friday a day after revealing a $38.8 billion bid for Anglo American as investors feared a deal could erode BHP's profitability especially if it has to sweeten its offer. BHP ...
Inflation in Japan's capital slows more than expected, slides below BOJ goal
By Leika Kihara TOKYO (Reuters) -Core inflation in Japan's capital slowed much more than expected in April and fell below the central bank's 2% target, data showed on Friday, complicating its decision on how soon to raise interest rates. The reading ...