News

CHANDIGARH / WAM The trade and investment flow between India and the United Arab Emirates are poised to expand rapidly with the launch of a major initiative by DP World, UAE Region. The recent launch of the ‘India-UAE Bridge’ initiative is set to attract both Indian and UAE trade and investments as DP World offers technology-driven end-to-end (e2e) smar-ter trade ...

Bloomberg Billionaire Azim Premji has helped create India’s latest tech unicorn: a fast-rising software startup that symbolises the growing investor interest in the Asian nation’s enterprise technology space. Icertis, which competes with SAP SE and Oracle Corp to help businesses manage contracts in the cloud, has raised $115 million, propelling it to unicorn status as investors flock to enterprise software ...

Bloomberg As rice prices plunge, farmers in the Philippines are asking President Rodrigo Duterte to review a 5-month-old law that paved the way for unlimited imports of the staple grain, Agriculture Secretary Emmanuel Pinol said. Rice prices at the farm gate dropped to 12-14 pesos ($0.24-$0.27) a kilo from 20 pesos earlier this year, Pinol said on his Facebook account. ...

Bloomberg Singapore’s exports plummeted in June amid a worsening trade war, spelling more bad news for the city state’s economy. Non-oil domestic exports contracted 17.3 percent from a year ago after falling a revised 16.3 percent in May, Enterprise Singapore said. That was worse than the median estimate of a 9.6 percent decline in a Bloomberg survey of economists. The ...

Bloomberg Visa Inc has become the latest investor in ride-hailing giant Go-Jek as the two companies push digital payments across Southeast Asia. The world’s biggest payments network has invested an undisclosed amount in Go-Jek as part of the Indonesian company’s ongoing series F fundraising round, the two companies said. The move follows Go-Jek’s announcement this month it had secured funding ...

Bloomberg The family that controls Apollo Hospitals Enterprise Ltd, India’s largest private hospital chain, is looking to sell assets or bring an outside investor into their holding company to pay down debt. The aim is to reduce the Apollo shares pledged by the family as collateral to lenders, to 20 percent of their total holding in the company from about ...

Bloomberg India may spin off units of Coal India Ltd, the world’s largest coal miner, into separate listed companies to boost competition and raise government funds, according to people with knowledge of the matter. The state-run company and the coal ministry are studying a proposal by the finance ministry’s Department of Investment & Public Asset Management to list four of ...

Bloomberg Chinese video-game live-streaming platform DouYu International Holdings Ltd and its shareholders raised $775 million after pricing its US initial public offering at the bottom of its marketed range. The company, which delayed its IPO amid market jitters in May, sold 44.9 million American depository shares for $11.50 each, according to a statement. Its existing investors sold 22.5 million shares ...

Bloomberg A French-US clash over digital taxation overshadowed the start of a Group of Seven (G-7) finance chiefs meeting as France refused to flinch on its levy that would hit tech giants from Facebook to Alphabet’s Google. Just before an encounter with US Treasury Secretary Steven Mnuchin at the G-7 near Paris, French Finance Minister Bruno Le Maire pledged to ...

Bloomberg Ericsson AB posted earnings that missed analyst estimates for the first time in six quarters and warned its rollout of 5G mobile networks in Asia would weigh on profits, in a rare setback to CEO Borje Ekholm’s turnaround efforts. With Ericsson battling Finland’s Nokia Oyj and China’s Huawei Technologies Co for pole position in 5G, Ericsson said the first ...