SINGAPORE (Reuters) – Apollo Global Management Inc has committed to invest in PanAsia Health Ltd, the holding company of Singapore regional healthcare firm HMI Group, through its hybrid value business, it said on Monday. The U.S-based alternative asset manager did not disclose the value of the investment. “This is the fourth investment made by hybrid …
Apollo to invest in Singapore’s HMI Group via hybrid value funds Read More »
By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka will announce a reworking of its domestic debt later this week to meet targets set by the International Monetary Fund (IMF) and aim to turn around its economy, which has been hammered by a financial crisis. A severe shortage of dollars tipped the island nation of 22 million …
Factbox-Sri Lanka’s domestic debt rework targets IMF goals, economic recovery Read More »
Karachi, PAKISTAN (Reuters) -Pakistan’s central bank raised its benchmark interest rate by 100 basis points to 22% at an emergency meeting on Monday, a day after the country revised its budget for the fiscal year from July 1 in a bid to rescue an IMF programme that expires in days. Analysts said Monday’s decision was …
Pakistan central bank raises main interest rate by 100 bps to 22% Read More »
By Sam Nussey and Tim Kelly TOKYO (Reuters) -Japan stepped up efforts to bolster its chip industry on Monday, with a government-backed fund agreeing to buy semiconductor materials maker JSR Corp for about 909.3 billion yen ($6.4 billion). The move by Japan Investment Corp (JIC), overseen by the powerful trade ministry, is the latest in …
Japan-backed fund to buy chip materials maker JSR for $6.4 billion Read More »
BEIJING (Reuters) -S&P Global cut its forecast for China’s economic growth this year, underscoring the uneven nature of the country’s recovery from the pandemic which is spurring calls for further stimulus. S&P now expects China to log GDP growth of 5.2% in 2023, down from an earlier estimate of 5.5%. It was the first time …
S&P cuts China GDP forecast as calls for stimulus intensify Read More »
By Patturaja Murugaboopathy (Reuters) – Dealmaking by private equity firms hit its lowest in four years, under pressure from high interest rates, recession fears, and a weak outlook for corporate earnings, although some analysts predict stored-up funding will drive a near-term rebound. Private equity deal volumes slumped 63% from the same period last year to …
Recession risk, rate rises drive down private equity deal volumes to 4-year low Read More »
HONG KONG (Reuters) – Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 2.53 million Hong Kong-listed shares of electric vehicle maker BYD for HK$675.80 million ($86.3 million), a stock exchange filing showed. The sale on June 19 lowered Berkshire’s holdings in BYD’s issued H-shares to 8.98% from 9.21%, the filing to the …
Berkshire Hathaway sells $86.3 million worth of shares in China’s BYD Read More »
TOKYO (Reuters) – Semiconductor materials maker JSR Corp’s board will meet on Monday to discuss a potential multi-billion dollar buyout by a government-backed fund that would mark an acceleration of Japan’s efforts to strengthen its chip industry. Below are investments in Japan announced by chipmakers and measures the government is taking to revive its semiconductor …
Factbox-Japan ramps up efforts to strengthen its chip industry Read More »
By Tetsushi Kajimoto TOKYO (Reuters) -Japan is not ruling out any options in responding appropriately to excessive currency moves, its top currency diplomat said on Monday, stepping up warnings against recent yen weakening that was “rapid and one-sided”. Currencies should move in a stable way, reflecting fundamentals, the government said, after the yen weakened beyond …
Japan’s top currency diplomat escalates warning against weak yen Read More »
By Emily Chow KUALA LUMPUR (Reuters) – State energy firms Pertamina and Petronas plan to jointly take over Shell’s participating interest in Indonesia’s Masela gas project, the Indonesian energy minister said on Monday. Shell has been seeking to divest its 35% share in Masela and Indonesian authorities are keen for the companies to complete the …
Pertamina, Petronas aim to replace Shell in Masela project, Indonesia minister says Read More »
