July, 2019

• 17 July

  India’s Suzlon Energy slumps after missing dollar bond payment

  

  Bloomberg Suzlon Energy Ltd., which became India’s biggest convertible-note defaulter in 2012, slumped in Mumbai after missing payments on dollar-denominated convertibles. Shares of the stressed wind-turbine maker fell as much as 8.6 perce-nt in trading on Wednesday after missing a deadline to repay $172 million outstanding on the securities. While an earlier debt revamp helped the company’s shares surge in ...

  Read More »
• 17 July

  Billionaire Premji-backed Icertis latest Indian tech unicorn

  

  Bloomberg Billionaire Azim Premji has helped create India’s latest tech unicorn: a fast-rising software startup that symbolises the growing investor interest in the Asian nation’s enterprise technology space. Icertis, which competes with SAP SE and Oracle Corp to help businesses manage contracts in the cloud, has raised $115 million, propelling it to unicorn status as investors flock to enterprise software ...

  Read More »
• 17 July

  Philippine farmers seek rice law review over prices

  Bloomberg As rice prices plunge, farmers in the Philippines are asking President Rodrigo Duterte to review a 5-month-old law that paved the way for unlimited imports of the staple grain, Agriculture Secretary Emmanuel Pinol said. Rice prices at the farm gate dropped to 12-14 pesos ($0.24-$0.27) a kilo from 20 pesos earlier this year, Pinol said on his Facebook account. ...

  Read More »
• 17 July

  Singapore’s export slumps amid trade war

  Bloomberg Singapore’s exports plummeted in June amid a worsening trade war, spelling more bad news for the city state’s economy. Non-oil domestic exports contracted 17.3 percent from a year ago after falling a revised 16.3 percent in May, Enterprise Singapore said. That was worse than the median estimate of a 9.6 percent decline in a Bloomberg survey of economists. The ...

  Read More »
• 17 July

  Visa invests in Go-Jek to push digital pay in SE Asia

  

  Bloomberg Visa Inc has become the latest investor in ride-hailing giant Go-Jek as the two companies push digital payments across Southeast Asia. The world’s biggest payments network has invested an undisclosed amount in Go-Jek as part of the Indonesian company’s ongoing series F fundraising round, the two companies said. The move follows Go-Jek’s announcement this month it had secured funding ...

  Read More »
• 17 July

  India’s Apollo Hospitals family seeks investors, asset sales to cut debt

  

  Bloomberg The family that controls Apollo Hospitals Enterprise Ltd, India’s largest private hospital chain, is looking to sell assets or bring an outside investor into their holding company to pay down debt. The aim is to reduce the Apollo shares pledged by the family as collateral to lenders, to 20 percent of their total holding in the company from about ...

  Read More »
• 17 July

  India mulls splitting world’s top coal firm to boost output

  

  Bloomberg India may spin off units of Coal India Ltd, the world’s largest coal miner, into separate listed companies to boost competition and raise government funds, according to people with knowledge of the matter. The state-run company and the coal ministry are studying a proposal by the finance ministry’s Department of Investment & Public Asset Management to list four of ...

  Read More »
• 17 July

  China’s DouYu raises $775m in US IPO

  

  Bloomberg Chinese video-game live-streaming platform DouYu International Holdings Ltd and its shareholders raised $775 million after pricing its US initial public offering at the bottom of its marketed range. The company, which delayed its IPO amid market jitters in May, sold 44.9 million American depository shares for $11.50 each, according to a statement. Its existing investors sold 22.5 million shares ...

  Read More »
• 17 July

  French-US clash over tech tax casts shadow over G-7

  

  Bloomberg A French-US clash over digital taxation overshadowed the start of a Group of Seven (G-7) finance chiefs meeting as France refused to flinch on its levy that would hit tech giants from Facebook to Alphabet’s Google. Just before an encounter with US Treasury Secretary Steven Mnuchin at the G-7 near Paris, French Finance Minister Bruno Le Maire pledged to ...

  Read More »
• 17 July

  Ericsson earnings miss estimates, says 5G in Asia to weigh on profit

  

  Bloomberg Ericsson AB posted earnings that missed analyst estimates for the first time in six quarters and warned its rollout of 5G mobile networks in Asia would weigh on profits, in a rare setback to CEO Borje Ekholm’s turnaround efforts. With Ericsson battling Finland’s Nokia Oyj and China’s Huawei Technologies Co for pole position in 5G, Ericsson said the first ...

  Read More »