By Sarah Wu TAIPEI (Reuters) – Globalisation is taking a backseat to priorities such as national security and technological leadership, with U.S.-China relations consisting more of competition than cooperation, the retired founder of Taiwanese chipmaker TSMC said on Tuesday. Morris Chang, who founded the world’s largest contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd (TSMC), said…
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) -Japan’s top financial diplomat Masato Kanda said on Tuesday authorities were in close contact with U.S. Treasury Secretary Janet Yellen and other overseas officials “almost every day” on currencies and broader financial markets. The remarks likely signal Tokyo’s desire to keep market players on guard about the…
SEOUL (Reuters) – South Korea’s Samsung Biologics announced on Tuesday two deals with Pfizer worth around a combined 1.2 trillion won ($921.38 million) to manufacture products for the U.S. pharmaceutical giant. The latest deals will see the biotech division of the Samsung Group produce biosimilar products ranging from oncology and inflammation to immunotherapy in the…
BEIJING (Reuters) – China will control exports of some metals widely used in the semiconductor industry, its commerce ministry announced on Monday, the latest salvo in an escalating war over access to high-tech microchips between Beijing and the United States. The controls, which China said were aimed at protecting national security and interests, will require…
By Anant Chandak BENGALURU (Reuters) – Malaysia’s central bank will leave its key interest rate unchanged at 3.00% on Thursday and keep it there for the rest of the year, marking the end of its modest tightening cycle as inflation has showed signs of cooling, a Reuters poll found. While headline inflation eased to its…
By Leika Kihara TOKYO (Reuters) -Japanese authorities are facing renewed pressure to combat the yen’s fresh declines driven by market expectations that the Bank of Japan will keep interest rates ultra-low, even as other central banks tighten monetary policy to curb inflation. Here are possible steps the government and the central bank could take to…
By Leika Kihara TOKYO (Reuters) -Japanese authorities are facing renewed pressure to combat a continued yen fall driven by market expectations that the Bank of Japan will keep interest rates ultra-low, even as other central banks tighten monetary policy to curb inflation. Aside from verbal intervention, Japan’s government has several options to stem what it…
SYDNEY (Reuters) – Australian investment firm Allegro Funds said on Tuesday it would set up an independent board to oversee PwC Australia’s government practice business, which it bought last month, and committed A$100 million ($67 million) for transition costs. PwC Australia on June 25 entered an exclusivity agreement with Allegro to sell its government practice…
(Reuters) -Australian general insurer Suncorp on Tuesday forecast a 12% jump in costs associated with catastrophe reinsurance premiums and natural hazards in fiscal 2024 on the back of adverse weather events through the La Niña cycle in recent years. It now sees the natural hazard allowance for fiscal 2024 to increase to A$1.36 billion ($907.4…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The Reserve Bank of Australia takes center stage on Tuesday, with the consensus view of economist marginally tipping toward expecting a 25 basis point increase in the benchmark cash to a 12-year high of 4.35%….
