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  • India's Ola raises $1.1 bn in Tencent, SoftBank-led round, seeks another $1 bn

    NEW DELHI (Reuters) -- Indian ride-hailing firm Ola said on Wednesday it has raised $1.1 billion from investors led by China's Tencent Holdings and Japan's SoftBank Group and is in advanced talks with other investors for another $1 billion.Ola and r

    October 11, 2017 05:14 pm JST
  • Ride-hailing apps a boon for Asia's motorcycle taxis

    Mobile ride-hailing apps are fast finding a place in Asia's taxi industry via motorcycles and motorized tricycles, typically cheaper alternatives to autos.The trend is being helped along by the increasing ubiquity of smartphones and improved wireles

    October 11, 2017 01:00 pm JST
  • ASEAN5 outlook up as export-led growth continues

    Economists have revised their 2017 growth forecasts upward for major Southeast Asian countries, reflecting stronger-than-expected exports of electronic goods and spillover effects on domestic economies. The Indian economy is expected to slow down th

    October 11, 2017 07:00 am JST
  • IMF cuts India's GDP growth to 6.7% in 2017

    MUMBAI/NEW DELHI -- The International Monetary Fund on Tuesday said that it expects India's economy to grow by 6.7% in 2017, slower than the 7.2% it had forecast in April, due to the lingering impact of the government's sudden demonetization last ye

    October 10, 2017 10:00 pm JST
  • Reliance Infrastructure in talks with Adani to sell Mumbai power distribution

    MUMBAI (NewsRise) -- Reliance Infrastructure has entered into exclusive talks with Adani Transmission to sell its Mumbai city power business, as billionaire Anil Ambani renews efforts to sell stakes in his companies to pare down the group's staggeri

    October 10, 2017 09:33 pm JST
  • Indian shares eke out small gains ahead of earnings

    MUMBAI (NewsRise) -- Indian shares edged higher on Tuesday, helped by gains in Infosys and drugmaker Lupin, amid caution ahead of quarterly earnings report from key companies.The benchmark BSE Sensex added 0.2%, or 77.52 points, to close at 31,924.4

    October 10, 2017 09:02 pm JST
  • Indian and Chinese drugmakers dominate Asia power ranking

    TOKYO -- Indian and Chinese drug companies are rapidly increasing their presence in Asia.Indian names, including Sun Pharmaceutical Industries, dominate the top spots of the sales ranking of Asian pharmaceutical companies. They are leading the compe

    October 10, 2017 11:40 am JST
  • Sreeram Chaulia

    Nobel award highlights Asia's nuclear challenge

    The award of the 2017 Nobel Peace Prize to the International Campaign to Abolish Nuclear Weapons is a pat on the back for transnational activists striving for a world free of atomic bombs. ICAN's fervent advocacy for the disarmament of the nine coun

    October 10, 2017 11:14 am JST
  • South Korea's gloom prevails despite manufacturing upturn

    HONG KONG -- Despite escalating threats from its northern neighbor, South Korea saw its manufacturing condition pick up on stronger domestic demand and output last month. But analysts remain cautious about the country's economic outlook as the ongoi

    October 10, 2017 11:05 am JST
  • Consumer stocks lead Indian shares higher amid festival demand

    MUMBAI (NewsRise) -- Indian shares edged higher on Monday, led by gains in consumer companies amid hopes of higher demand during the ongoing festival season.The benchmark BSE Sensex added 0.1%, or 32.67 points, to 31,846.89, while the broader Nifty

    October 9, 2017 09:54 pm JST
  • India automobile sales forecast to gather pace as festivals boost demand

    MUMBAI (NewsRise) -- India's main automobile trade group forecast strong passenger vehicle sales for the rest of the financial year after growth in September rose 11% as dealerships boosted inventories ahead of the Diwali festival.According to data

    October 9, 2017 09:36 pm JST
  • Mutual funds boom as Indians retreat from gold and property

    NEW DELHI -- Janki Mistry, a professor of business management from Surat, in western India, has tweaked her investment strategy over the last two years, switching from bullion to mutual funds that have rewarded her with robust returns."I have seen m

    October 9, 2017 08:51 pm JST
  • Eswar Prasad and Karim Foda

    Economic breathing space is an opportunity to strengthen resilience

    The world economy has settled into a holding pattern, with a broad-based but plodding recovery underway characterized by weak productivity and investment growth. Both advanced and emerging market economies have maintained modest growth momentum, but

    October 8, 2017 07:00 pm JST
  • India-Japan alliances emerging amid IoT revolution

    TOKYO -- At the Ceatec Japan 2017, which was held between Oct. 3 and 6 in the city of Chiba, east of Tokyo, there was a dedicated area for India's major tech companies, startups and technical institutes. It was the first time an Indian pavilion was

    October 8, 2017 06:42 pm JST
  • India's Oriental Bank says under central bank 'corrective action' over bad loans

    MUMBAI (Reuters) -- Oriental Bank of Commerce, a mid-sized Indian state-run lender, said the nation's central bank has initiated "prompt corrective action" against the bank over its high amount of net non-performing assets (NPA).Oriental Bank is the

    October 8, 2017 01:43 pm JST
  • India shares post first weekly gain in three on positive global cues

    MUMBAI (NewsRise) -- Indian shares rose this week, snapping a two-week decline, as record levels on the Wall Street amid optimism over U.S. tax reforms boosted risk appetite across the region.The benchmark BSE Sensex gained 1.7% this week while the

    October 6, 2017 09:42 pm JST
  • Future Group to acquire grocery business of Shoppers Stop

    MUMBAI (NewsRise) -- Future Group, India's largest retailer, has agreed to buy the food and grocery business of rival Shoppers Stop, as the pace of consolidation gathers steam in India's booming retail market.The acquisition comes in the backdrop of

    October 6, 2017 09:11 pm JST
  • Nikkei Asia300 Index over 2% on week after US shares' record run

    MUMBAI (NewsRise) -- Asian stocks outside of Japan advanced on Friday to end the week higher after U.S. equity indexes rose to fresh record highs on optimism over tax reforms.The Nikkei Asia300 Index rose 0.4% to 1,320.81 points Friday. The index is

    October 6, 2017 08:44 pm JST
  • Asian parents among top spenders on education

    SINGAPORE -- Asian parents are investing heavily in education to give their children better career opportunities in an increasingly competitive job market, according to an HSBC report.The report was based on a survey of over 8,400 parents in 15 coun

    October 6, 2017 08:16 pm JST
  • Paytm founder Sharma enters Indian billionaire's club

    MUMBAI -- Vijay Shekhar Sharma, founder of financial technology startup Paytm, has debuted on the Forbes list of India's top 100 billionaires, riding the country's digital payments drive, which intensified after the demonetization of high-value note

    October 6, 2017 08:15 pm JST