Bloomberg Mukesh Ambani has elbowed past Li Ka-shing to become Asia’s second-richest man as investors rallied behind his efforts to arm India’s poor with cheap data-loaded phones. Some analysts are beginning to focus on the costs of his ambition. The chairman of Reliance Industries Ltd. has added $12.5 billion to his wealth this year, according to the Bloomberg Billionaires Index, ...

Bloomberg Uber Technologies Inc. and Didi Chuxing are once again going head-to-head, this time in Estonia. The Chinese giant with a multi billion-dollar war chest is backing Estonia’s Taxify OU with a financial investment and support on technology developments, the companies said on Tuesday. The partnership—Didi’s first major move into Europe—will give Taxify a boost to grow in cities from ...

Bloomberg A private gauge indicates that India’s manufacturing output slid to the lowest since the financial crisis as the roll out of a new nationwide sales tax disrupted supply chains across the country. The Nikkei India Manufacturing Purchasing Managers’ Index was at 47.9 in July. A number below 50 indicates contraction. The outlook for the year ahead remains positive with ...