(Reuters) -Sunil Mittal, the billionaire-founder of Indian telecom operator Bharti Airtel, is in advanced talks to buy a 49% stake worth $2 billion in the Indian unit of Chinese consumer electronics maker Haier, Bloomberg News reported on Friday. Mittal has partnered with private equity firm Warburg Pincus to buy the stake, and a deal could …
By Siddhi Nayak and Anton Bridge MUMBAI/TOKYO (Reuters) -Japanese lender Sumitomo Mitsui Banking Corporation (SMBC) has signed a definitive agreement to take a 20% stake in Indian private lender Yes Bank, a deal that marks the largest cross-border merger and acquisition deal in India’s financial sector. The total value of the deal, which involves SMBC …
Japan’s SMBC to take 20% stake in India’s Yes Bank Read More »
(Reuters) -Singapore-listed Thai Beverage reported a 3.2% fall in its first-half profit on Friday, as a dip in its spirits business continued to weigh on the company’s bottom-line. Thai Beverage has been struggling to increase profits amid weak consumer spending, rising costs and occasional dips in its top-performing segments in the post-pandemic years. The company …
Thai Beverage’s half-year profit falls as spirits business’ struggles persist Read More »
BEIJING (Reuters) -China’s central bank said on Friday it will spur financial institutions to expand support for consumption and foreign trade amid a protracted trade war with the United States. Beijing stepped up efforts this week to cushion the economic damage caused by the tariff conflict with Washington, announcing a raft of stimulus measures, including …
China’s central bank to spur financing support for consumption, trade Read More »
By Daniel Leussink TOKYO (Reuters) -Nissan Motor said on Friday it would abandon a plan to build a $1.1 billion factory for electric vehicle batteries on Japan’s southwestern island of Kyushu, marking the latest change of plans for the troubled automaker. The company is also preparing to offer early retirement to several hundred staff in …
Nissan abandons plan for $1.1 billion EV battery plant in southern Japan Read More »
TAIPEI (Reuters) -Taiwan’s central bank said on Friday that banks should follow foreign exchange settlement rules, after the Taiwan dollar notably strengthened last week and earlier this week. The Taiwan dollar on Monday and last Friday appreciated strongly against the greenback on market speculation that the U.S. had asked Taiwan to allow its currency to …
After currency turmoil, Taiwan’s central bank warns banks to follow forex rules Read More »
By Kane Wu HONG KONG (Reuters) -U.S. investment firm Bain Capital is seeking to sell the China business of data centre operator WinTriX DC Group, in a deal that could value the business at over $4 billion, two people with knowledge of the situation said. Bain Capital has engaged with advisers who have held preliminary …
SINGAPORE (Reuters) – East China-based independent refiner Hongrun Petrochemical plans to restart its recently-acquired Changyi Petrochemical site as early as this month, four trade sources said on Friday. Hongrun has already secured some crude oil cargoes in the past month ahead of the restart of the 160,000 barrels per day Changyi plant, two of the …
China’s Hongrun Group to restart newly acquired refinery soon, sources say Read More »
(Reuters) -Malaysian discount store chain Eco-Shop Marketing on Friday said it is looking to raise 392.1 million ringgit ($91.3 million) through an initial public offering. Under the share issue, the company is offering 347 million shares at an offer price of 1.13 ringgit apiece. It is seeking a valuation of 6.49 billion ringgit ($1.51 billion). …
Malaysia’s discount retail chain Eco-Shop files for $91 million IPO Read More »
By Yuka Obayashi and Katya Golubkova TOKYO (Reuters) – Nippon Steel expects net profit to slide 43% in the fiscal year ending March 2026, it said on Friday, citing a weak global steel market pressured by China’s exports and the impact of new U.S. tariffs. Japan’s biggest steelmaker also said it expects a U.S. decision …
Nippon Steel expects profit to drop 43% this year, US Steel decision by early June Read More »
