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Foxconn finally agrees to acquire Sharp for US$3.5bn

Taipei / AFP Taiwan’s tech giant Hon Hai said on Wednesday it had finally sealed a takeover of Japanese electronics maker Sharp in a “historic” deal worth 389 billion yen ($3.5 billion). It is the first foreign acquisition of a major Japanese electronics firm and comes after weeks of delays, with Hon Hai buying a 66 percent controlling stake. But ...

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Modi in Brussels to boost India’s economy

Brussels / AFP India’s prime minister will hold talks with EU leaders in Brussels, seeking to boost investment from his country’s biggest trading partner and deepen cooperation on counterterrorism. Narendra Modi was to meet European Council President Donald Tusk and European Commission President Jean-Claude Juncker in Brussels for the 13th EU-India summit, held little more than a week after deadly ...

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Mallya offers to repay $904mn of defunct airline loans

MANILA / AP Vijay Mallya, the former Indian billionaire now hounded by creditors, offered lenders as much as 60 billion rupees ($904 million) as settlement toward debt owed by the failed airline he founded, Bloomberg TV India reported, citing his lawyers. India’s Supreme Court was informed on Wednesday that he will pay about 40 billion rupees ($603 million) by the ...

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