Bloomberg India’s move to slash levies on more than 50 goods will lower revenue by as much as $2.2 billion each year and is raising the prospect of the country missing budget goals again this year. A panel of federal and state finance ministers cut the goods and services tax on items from washing machines and lithium ion batteries to ...

Bloomberg Megvii Inc., the Chinese developer of facial recognition system Face++, is said to be raising at least $600 million from investors including Alibaba Group Holding Ltd. and Boyu Capital, according to people familiar with the matter. The Beijing-based company, which already counts billionaire Jack Ma’s Ant Financial and one of China’s largest state-backed venture funds as investors, will close ...

Bloomberg Philippine President Rodrigo Duterte called on lawmakers to pass legislation that will help cool the fastest inflation in five years and spread wealth and power beyond the capital region. In his annual address to Congress, Duterte asked both chambers to prioritise the measure that will remove caps on rice imports to augment supply and cut the price by as ...