Reuters Asia Business

(Reuters) -India’s Adani Ports and Special Economic Zone Ltd said on Tuesday it would finance its Colombo port terminal project through internal accruals and a capital management plan, withdrawing its request for funding from the U.S. International Development Finance Corp (DFC). DFC last year said it would provide $553 million in financing for the port …

Adani Ports withdraws DFC funding request for Colombo port project Read More »

LONDON (Reuters) – Barclays aims to hire up to 100 more advisers to drive growth in its private banking and wealth management business, but has ruled out a push into the United States because of heavy competition and high costs of entry. Sasha Wiggins, chief executive of Barclays Private Bank and Wealth Management, said on …

Barclays plans hiring spree to drive private banking and wealth management Read More »

SEOUL (Reuters) – South Korea’s Doosan Enerbility said on Tuesday it had dropped a plan to spin off its business and combine it with affiliate Doosan Robotics, saying an “unexpected change in the external environment” had led to sharp stock price falls for both companies. Shares of nuclear power-related companies like Doosan Enerbility fell following …

S.Korea’s Doosan units scrap merger plan after martial law hit stock prices Read More »

MADRID (Reuters) -Stellantis and Chinese battery maker CATL will invest 4.1 billion euros ($4.33 billion) to build one of Europe’s largest electric vehicle battery factories in Spain, encouraged by lower costs and government funding. The equal joint venture in Zaragoza in northeastern Spain should start production by the end of 2026 and could reach a …

Stellantis, China’s CATL to invest $4.33 billion in EV battery factory in Spain Read More »

By Fransiska Nangoy JAKARTA (Reuters) – Kuwait Foreign Petroleum Exploration Company (KUFPEC) is looking at more oil and gas opportunities in Indonesia’s Natuna Sea, its country representative said on Monday, with Indonesian President Prabowo Subianto looking to boost the country’s production. Prabowo, who took office in October, aims to ease dependence on imported fuel and …

Explorer KUFPEC eyes more oil and gas opportunity in Indonesia’s Natuna Sea Read More »

By Rishav Chatterjee (Reuters) -China’s Fosun Tourism is proposing to buy back the shares not owned by its controlling shareholder, in a bid to take itself private and address concerns about the limited liquidity of its stock. Under the deal, Fosun Tourism will buy back the outstanding shares at HK$7.80 apiece, a 95% premium to …

China’s Fosun Tourism to go private by buying back shares Read More »

By Clare Jim HONG KONG (Reuters) -Sunac China has won approval from some of its bondholders for a plan to cut its onshore bond debt by more than half through a restructuring, a source with direct knowledge of the matter said on Tuesday. Two of the ten onshore bonds in the restructuring have received sufficient …

Sunac China wins some bondholder approval for onshore restructuring plan, source says Read More »

BEIJING (Reuters) – China Everbright Group’s former chairman Tang Shuangning was sentenced to 12 years in prison for corruption, bribery, and abusing his position for personal gains, state broadcaster CCTV said on Tuesday. Tang was arrested on suspicion of taking bribes in January, in an intensified campaign aimed at weeding out corrupt officials in the …

China Everbright Group former chairman jailed 12 years for corruption, bribery Read More »