Bloomberg Fintech firm Lufax Holding Ltd is planning to go public in Hong Kong, the latest in a wave of New York-traded Chinese companies seeking alternative listings to hedge against the risk of being banned from US markets. The Ping An Insurance Group Co-backed company aims to file for a listing in Hong Kong as soon as the second ...

  Bloomberg Rice output in India may suffer this year as poor rains in key growing areas shrink plantings, raising concerns that the top exporter could curb shipments after restricting wheat and sugar sales to safeguard food security. Total rice acreage in the South Asian nation, the world’s second-biggest grower, has fallen 12% so far this season, according to the ...

  Bloomberg Bhavish Aggarwal, who founded India’s top ride-hailing startup and then moved into manufacturing electric scooters, is expanding his business empire again, unveiling plans to enter the electric-car market in competition with local giants like Tata Group and global automakers from Hyundai Motor to Tesla. The 36-year-old entrepreneur said that Ola aims to launch its first electric car in ...

  Bloomberg Gold dropped — following four straight weeks of gains — as investors assessed signs China’s economy is struggling to recover ahead of minutes from the Federal Reserve later in the week. Bullion fell 1.1%, after the longest run of weekly gains in almost a year, as it came under pressure from the stronger dollar. The precious metal has ...

Bloomberg Thailand’s baht rebounded so rapidly in the past few weeks on optimism about the country’s tourism-led growth that it’s already hit year-end analyst targets. The currency jumped 2.3% to about 35.45 per dollar this month, leading gains in Asia by a wide margin. In addition to rising forecasts for tourists arrivals, the advance is also being driven by a ...

Bloomberg China’s military said it held fresh patrols around Taiwan to “fight back” against another US congressional visit less than two weeks after House Speaker Nancy Pelosi traveled to Taipei. The patrols and exercises conducted in the “sea and air space around Taiwan” on Monday provided a “resolute response and stern deterrence to US-Taiwan collusion,” Chinese Defense Ministry spokesman Senior ...

Bloomberg Russian President Vladimir Putin offered to expand relations with North Korea, reaching out to his neighbor as the Kremlin scours the globe for weapons for its war in Ukraine. Putin sent a congratulatory message to North Korea for its Liberation Day holiday on Monday marking the end of Japan’s 1910-1945 colonial rule over the Korean Peninsula. Although Putin regularly ...

  Bloomberg Myanmar’s deposed leader Aung San Suu Kyi was sentenced to six more years in prison on Monday in a judgment that could further anger supporters of the 77-year-old Nobel peace prize laureate. A special court inside a prison compound in the capital Naypyidaw found her guilty of four corruption charges related to a charity named after her late ...

  Bloomberg Australian Prime Minister Anthony Albanese has ordered a review into claims his predecessor secretly took charge of multiple ministries during the pandemic, describing it as a “shadow government.” Former leader Scott Morrison allegedly swore himself in as health minister, finance minister and resources minister between 2020 and 2021, sometimes without the knowledge of the incumbent, according to a ...

  Bloomberg Inflation and higher interest rates will push up the UK’s debt serving costs and social welfare spending by more than £50 billion ($60.7 billion) in next fiscal year, according to Financial Times (FT) calculations. The bill for servicing government debt will almost double, to £95 billion ($115.35 billion) from £50 billion ($60.71 billion), given that about £500 billion ...