Bloomberg The Samsung group plans to raise spending by more than 30% to 450 trillion won (about $360 billion) over the half-decade to 2026 to shore up businesses from chips to drugs, as South Korea’s conglomerates grapple with growing economic and supply shocks. The corporate giant — whose units from Samsung Electronics Co to Samsung Biologics Co dominate Korea’s economy ...

  Bloomberg SoftBank-backed Indian logistics firm Delhivery Ltd climbed in early trading as investors brushed off rising global risks to support the nation’s second-largest initial public offering of the year in its market debut. The shares rose as much as 12% to 543.95 rupees in Mumbai, versus the issue price of 487 rupees. The company and its shareholders, including Carlyle’s ...

  Bloomberg India is set to restrict sugar exports as a precautionary measure to safeguard its own food supplies, another act of protectionism after banning wheat sales just over a week ago. Sugar prices jumped. The government is planning to cap sugar exports at 10 million tons for the marketing year that runs through September, according to a person familiar ...

Bloomberg President Joe Biden is seeking to show US resolve against China, yet an ill-timed gaffe on Taiwan risks undermining his bid to curb Beijing’s growing influence over the region. Whether intentional or not, Biden provoked China with a vow to defend Taiwan militarily. After saying that US policy on Taiwan “had not changed at all” during a news conference ...

Bloomberg Pakistan’s former prime minister Imran Khan has vowed to defy a government ban on his planned march to Islamabad for a sit-in on Wednesday to press the administration to quit and call new elections. Khan plans to create chaos with his protest march and will be stopped, Interior Minister Rana Sana Ullah Khan said in a briefing in Islamabad. ...

Bloomberg Russian opposition leader Alexey Navalny lost his appeal against a new 9-year prison sentence and will be transferred to a high-security prison in a move that his supporters say is aimed at isolating President Vladimir Putin’s top critic even further. Navalny, 45, who was already serving a 2 1/2 year-sentence that the European Court of Human Rights called politically ...

  Bloomberg Swedish and Finnish officials are expected to travel to Ankara on Wednesday to try to overcome Turkey’s objections to the two nations’ bids to join Nato. Sweden’s state secretary, Oscar Stenstrom, and his Finnish counterpart Jukka Salovaara, will meet with Turkey’s chief presidential aide, Ibrahim Kalin, according to a statement from the Turkish foreign ministry. The formal acceptance ...

  Bloomberg HSBC Holdings Plc Chief Executive Officer Noel Quinn said an executive’s remarks playing down the risk of climate change are “inconsistent” with the bank’s strategy and don’t reflect views of senior management. “Our ambition is to be the leading bank supporting the global economy in the transition to net zero,” he said in a post on LinkedIn. “I ...

  Bloomberg Indonesia’s central bank tightened reserve requirements for lenders, while keeping its benchmark interest rate unchanged, as it seeks to withdraw excess liquidity without hurting economy’s recovery from the pandemic. Bank Indonesia plans to raise the reserve requirement ratio for banks to 9% in September from previously announced 6.5%, Governor Perry Warjiyo said in a briefing on Tuesday. It ...

  Bloomberg China’s central bank and banking regulator urged lenders to boost loans as the economy is battered by Covid outbreaks that have threatened growth this year. People’s Bank of China (PBOC) Governor Yi Gang and other officials met with 24 major financial institutions to discuss credit conditions and work, the central bank said in a statement on Tuesday. The ...