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Bloomberg As global banks make inroads into China’s $15 trillion asset management market, China International Capital Corp is launching a counter-offensive spanning from overseas acquisitions to hiring. CICC is searching for potential targets among medium-sized, Asia-focused managers including stock houses and hedge funds, said Frank Xu, head of asset management. Without takeovers, the size of his business line is already ...

Bloomberg Shares of the world’s largest rubber glove maker rose to a two-month high after the company cut its share sale in Hong Kong by nearly half of its earlier target, a move analysts said will minimise earnings dilution. Top Glove Corp climbed as much as 2.5% in Kuala Lumpur, the highest since February 23. The company, whose shares also ...

Bloomberg Ronnie Screwvala pioneered cable television in India in the 1980s and then built a unicorn that was acquired by Walt Disney Co. At 64, the entrepreneur’s latest venture UpGrad is speeding towards a landmark $1 billion valuation. The higher education and upskilling startup raised $120 million from Singapore-based investor Temasek Holdings Pte, according to its co-founder. That’s the first ...

Bloomberg With the US dragging its feet in offering India help to combat the world’s worst virus crisis, China is moving to drive a wedge between the democratic security partners. In a barrage of editorials, political cartoons and social-media posts in recent days, the Communist Party-backed Global Times newspaper blasted the US for failing to provide aid while calling on ...

Bloomberg Russian prosecutors ordered Alexey Navalny’s national network of campaign offices to suspend operations because of alleged “extremism,” deepening the crackdown on allies of the jailed opposition leader. The order bans the groups from posting online, organising events and using bank accounts pending a permanent court ruling, according to a copy posted in Twitter by Navalny’s allies. The Moscow City ...

Bloomberg Vice President Kamala Harris finds herself navigating strained relations with the leaders of Central American countries that have produced a surge of migrants to the US, vastly complicating her assignment to curb a growing humanitarian crisis on the southwest border. Most would-be immigrants are from the so-called Northern Triangle — Guatemala, Honduras and El Salvador -– and their economies ...

Bloomberg Finland’s government resumed talks to overcome disagreements over budget plans that pushed it to the brink of a breakup during the weekend. The negotiations intended to hammer out a spending framework for the next four years ended up exposing tensions within the five-party coalition half way through its term. Social Democrat Prime Minister Sanna Marin and the left-leaning parties ...

Bloomberg Chad’s ruling junta rejected a call by a group of rebels for talks and asked Niger to help catch their leader who it believed is within its neighbour’s borders. The Libya-based rebel group known as the Front for Change and Concord in Chad has been fighting to overthrow the government since 2016. It , staged an incursion into northern ...

Bloomberg Prime Minister Mario Draghi goes to Parliament to present details of his 235 billion-euro ($284 billion) plan to re-engineer Italy’s economy that will be a test of the European Union’s (EU’s) post-pandemic recovery fund. Draghi’s plan taps 191.5 billion euros in EU grants and loans plus 30 billion euros in domestic funding and other small amounts of separate EU ...

Bloomberg German businesses unexpectedly became more pessimistic about the economic outlook as the country continues to battle a stubbornly high rate of coronavirus infections and supply constraints weigh on the recovery. The Ifo institute’s gauge of expectations for the next six months fell to 99.5 in April from 100.3. Economists surveyed by Bloomberg had predicted a gain. At the same ...