Bloomberg An Indian state agency released nearly 27,000 Vivo Mobile Communications smartphones for export after withholding the shipment for more than a week over alleged rule violations. The federal finance ministry’s revenue intelligence unit allowed the Chinese company to collect the devices it was holding at the New Delhi Airport over an alleged mis-declaration of phone models and their ...

  Bloomberg Walmart Inc-owned digital payments brand PhonePe is seeking to raise as much as $1 billion from General Atlantic and existing investors including Tiger Global Management, Qatar Investment Authority and Microsoft, people familiar with the matter said, even as global funding dries up for startups. The all-equity round is expected to close in the next two weeks and may ...

  Bloomberg I-Tail Corp Pcl, Thailand’s top pet food maker, ended lower in its trading debut after the country’s second-largest initial public offering this year. Shares of the Bangkok-based company closed at 31 baht, 3.1% below its IPO price of 32 baht, erasing gains of as much as 5.5% earlier. The unit of frozen and seafood products maker Thai Union ...

  Bloomberg The developer at the epicenter of China’s property debt crisis appears to be inching closer to unveiling a restructuring blueprint, after a long delay that has frustrated investors and highlights their struggle in a country still relatively new to defaults. China Evergrande Group planned to meet with an ad-hoc group of its dollar bondholders to formally discuss a ...

Bloomberg Indian Prime Minister Narendra Modi won’t be holding an annual in-person summit with Vladimir Putin after the Russian president threatened to use nuclear weapons in the war in Ukraine, according to people with knowledge of the matter. The relationship between India and Russia remains strong but trumpeting the friendship at this point may not be beneficial for Modi, said ...

  Bloomberg The US is preparing a fresh round of sanctions on Russia and China for what it describes as human rights abuses by both countries, according to an official familiar with the matter. The sanctions against Russia were expected to focus on the country’s efforts to procure weapons — especially drones — which is also under heavy US sanctions. ...

  Bloomberg Pedro Castillo, the Peruvian leader ousted for trying to dissolve congress, faces as many as 20 years in prison if found guilty of the crime of rebellion, at a time when Mexico is offering him political asylum. Judge Juan Carlos Checkley ordered Castillo held through December 13 for additional investigations, considering him a flight risk. The seriousness of ...

Bloomberg Two senior Bangladeshi opposition leaders were arrested by plainclothes police officers as part of a crackdown ahead of a planned demonstration in the capital to force Prime Minister Sheikh Hasina to step down and call for elections. Bangladesh has come under pressure in recent months as higher food and fuel costs have eaten into foreign currency reserves, prompting Hasina’s ...

Bloomberg South Korean truck drivers voted to end a two-week strike that has disrupted supply chains of key export industries. A majority of union members who voted agreed to return to work, according to an emailed statement. That came after the government ordered striking truckers in the steel and petrochemical industries back to work. The truckers’ strike has added to ...

Bloomberg China has dramatically scaled back purchases of Taiwanese fish this year, as Beijing seeks to punish the island’s democratically elected government for expanding ties with the US and its allies. China imported $56 million worth of fish and crustaceans in the six months from May to October, compared with $138 million during the same period a year earlier, according ...