Bloomberg One of China’s largest listed drug makers that’s been under a regulatory probe for months said it overstated cash positions after using false documents and transaction records. The stock tumbled by the 5 percent daily limit. Kangmei Pharmaceutical Co, a producer of traditional Chinese medicines, said in a filing that such methods have led to an overstatement of cash ...

Bloomberg Singapore leapfrogged Hong Kong and the US to take the top spot among the world’s most competitive economies for the first time in nine years. The city state’s advanced technological infrastructure, availability of skilled workers, favourable immigration laws, and efficiency for starting businesses supported its rise to the No. 1 spot, the Switzerland-based IMD Business School said in its ...

Bloomberg Global Payments Inc. agreed to buy Total System Services Inc. in a deal valued at $21.5 billion, the payment industry’s third mega-merger of the year. The transaction will create a powerhouse that provides payment technology and software to more than 3.5 million small to midsize merchants and more than 1,300 financial institutions worldwide, the two companies said in a ...