Beijing / AFP China’s total borrowings were more than double its gross domestic product (GDP) last year, a government economist said, warning that debt linkages between the state and industry could be “fatal” for the world’s second largest economy. The country’s debt has ballooned as Beijing has made getting credit cheap and easy in an effort to stimulate slowing growth, ...

  Seoul / AFP Samsung Electronics said on Thursday it had agreed to buy US cloud computing company Joyent — the latest in a series of start-up acquisitions aimed at strengthening the South Korean giant’s software capacity. The purchase of the San Francisco-based firm would provide Samsung with its own cloud platform to support its main mobile business and connect ...

  Beijing / AFP Chinese ride-hailing app Didi Chuxing, a bitter rival of US-based Uber, has raised $7.3 billion in one of the world’s largest private equity financing rounds, the company said on Thursday. Didi is locked in a war of attrition with Uber over drivers and riders but claims almost 90 percent of the market in the world’s most ...

  Colombo / AFP Sri Lanka’s cabinet approved the introduction of a capital gains tax for the first time in 14 years, as the island battles a revenue crisis that has forced an IMF bailout. Prime Minister Ranil Wickremesinghe’s tax plans come after the International Monetary Fund (IMF) this month released the first tranche of a $1.5 billion loan in ...

  Tokyo/ Bloomberg Toshiba Corp., the world’s biggest supplier of turbines used to produce electricity from the heat trapped underground, will expand its geothermal power business into operation and maintenance services as it aims to extend its lead in a global market dominated by a handful of competitors. “We are just doing turbines now but we want to take full ...

  Basel / AFP Hundreds of suitcases hang eerily from the ceiling, old publications depict colonial scenes of dark “savages” committing horrific acts of violence, and an anti-protestor gun blasts into life… with rounds of birdsong. A common theme — of angst at a world in political turmoil, beset by a migration crisis and dread of terrorism — unites many ...

  ST. PETERSBURG / AP EU Commission head Jean-Claude Juncker warned Russia on Thursday that the 28-nation bloc will only lift its sanctions if the Kremlin fully implements a Ukraine peace deal. “The next step is clear, full implementation of the agreement—no more, no less,” Juncker told Russia’s main economic forum in Saint Petersburg ahead of a meeting with President ...

  Seoul / AFP South Korea said on Thursday it would resume salvage operations on the Sewol ferry next week, but underlined the enormous challenges posed by raising the vessel that sank in 2014 with massive loss of life. The Sewol was carrying 476 people when it went down off the southwestern island of Jindo, leaving 304—mostly school children—dead in ...

  Seoul / AFP South Korea on Thursday kicked off a live-fire naval exercise near its disputed sea border with North Korea — a move likely to fan already elevated military tensions with Pyongyang. The three-day exercise in the Yellow Sea is aimed at practising responses to simulated incursions by North Korean vessels and aircraft, the South’s navy said in ...

  Beijing / AFP China criticised US President Barack Obama on Thursday for hosting the Dalai Lama at the White House, despite efforts to avoid irking Beijing by holding the meeting off-camera and out of the public eye. Obama carried out what has become a political rite in Washington, spiriting the exiled Tibetan religious leader into the White House through ...