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  • Multinationals in Asia

    Unilever sees growth in bottom and top of Asian economic pyramid

    TOKYO/YANGON/MUMBAI -- At a small shop tucked into a residential neighborhood of Yangon, one peculiar set of items has emerged as a hit seller among the snacks and household staples on offer: single-use pouches of Unilever shampoo, which dangle from

    July 29, 2017 02:30 pm JST
  • Indian bitcoin startups thrive as New Delhi ponders rules

    BANGALORE -- In the first week of June an as-yet unknown cause triggered a 640% surge in daily activity at CoinSecure, an Indian bitcoin exchange, which continued for about two weeks."Our servers just could not take the pressure of that kind of a tr

    July 29, 2017 01:00 pm JST
  • India shares log fourth straight weekly gain on earnings boost, Fed

    MUMBAI (NewsRise) -- Indian shares fell Friday, but both the key indices clinched their fourth consecutive weekly advance after upbeat quarterly earnings from most companies buoyed investors. Bets that the U.S. Federal Reserve would go slow on futur

    July 28, 2017 10:23 pm JST
  • India's Larsen & Toubro profit beats estimates on infrastructure orders

    MUMBAI (NewsRise) -- Larsen & Toubro, India's largest engineering and construction company, reported a better-than-expected 46% jump in first-quarter net profit, buoyed by surging revenue from infrastructure business.Consolidated profit for the quar

    July 28, 2017 10:23 pm JST
  • Indonesia's Traveloka raises $350m from Expedia

    JAKARTA -- Indonesian travel booking startup Traveloka has raised $350 million from U.S.-based Expedia, collecting $500 million in funding over the last year as it expands regionally.The two companies said in a statement on Thursday that they are al

    July 28, 2017 09:29 pm JST
  • Nikkei Asia300 index falls on technology stocks, almost erases weekly gains

    HONG KONG (Nikkei Markets) -- Technology stocks led Asian equities outside Japan lower on Friday, wiping off most of the accumulated gains for the week triggered by bets slowing inflation would prompt the U.S. Federal Reserve to hold back further ra

    July 28, 2017 08:52 pm JST
  • Xiaomi bags $1bn loan to fund global offensive

    MUMBAI -- Chinese smartphone maker Xiaomi has secured a three-year, $1 billion loan from a consortium of international lenders -- money it plans to use to expand its global footprint.Deutsche Bank and Morgan Stanley served as joint coordinators for

    July 28, 2017 07:16 pm JST
  • ITC says new tax will 'exacerbate the pressure' on Indian tobacco industry

    MUMBAI (NewsRise) -- ITC, India's largest cigarette-maker, reported a 7.4% increase in first-quarter net income after eking out a marginal rise in cigarette sales volume, but warned that a recent increase in taxes on tobacco will hurt the industry.I

    July 28, 2017 06:41 pm JST
  • Modi intensifies push against open defecation

    NEW DELHI -- Of all Indian Prime Minister Narendra Modi's campaigns, none, perhaps, is more consequential than the renewed push for his Swachh Bharat -- or Clean India -- Mission launched in October 2014.At first glance SBM was a mere rehash of a ca

    July 28, 2017 03:44 pm JST
  • Maruti Suzuki debuts Nexa premium service centers

    NEW DELHI -- Maruti Suzuki India has begun operating service workshops under its premium Nexa brand, as India's top-selling automaker looks to offer 300 locations by 2020 that handle models such as the Baleno, Ciaz, Ignis and S-Cross.The company, in

    July 28, 2017 01:26 am JST
  • ASEAN and beyond: AirAsia spreads its wings

    KUALA LUMPUR -- AirAsia, the region's largest budget carrier by fleet size, has a unique operational structure that aided its expansion over the past 16 years. Headquartered in Malaysia, it spread its wings from India to Japan, and will soon also en

    July 27, 2017 10:52 pm JST
  • Maruti Suzuki India's Q1 profit inches up 4.4%

    NEW DELHI -- Maruti Suzuki India, the country's largest passenger carmaker, on Thursday said net profit for the quarter ended June increased 4.4% year-on-year to 15.56 billion rupees ($242.7 million), as factors like a one-time compensation paid to

    July 27, 2017 10:44 pm JST
  • India shares end little changed after record highs as derivatives expiry weighs

    MUMBAI (NewsRise) -- Indian shares ended little changed on Thursday, retreating from record highs, as investors settled their trading positions on expiry of monthly derivatives contracts.The benchmark BSE Sensex edged up 0.84 points to 32,383.30, wh

    July 27, 2017 09:47 pm JST
  • Dr. Reddy's profit plunges on rising competition in US drug market

    MUMBAI (NewsRise) -- Dr. Reddy's Laboratories said first-quarter net income slumped 57% from a year earlier, as rising pricing pressure in the U.S. and a temporary contraction in stocks in domestic market weighed on India's second-largest pharmaceut

    July 27, 2017 09:18 pm JST
  • ASEAN is looking good, but now looking up to China and India

    TOKYO The first 50 years of the Association of Southeast Asian Nations should be regarded as an overall success, but its future is anything but certain. Sandwiched between China and India, ASEAN could find itself overwhelmed economically by these tw

    July 27, 2017 10:00 am JST
  • ASEAN must stay out of great-power tussles in Asia

    The post-Cold War 1990s were a peaceful era in Asia. All the great powers were benign and the Sino-U.S. relationship was good. China still needed help from other countries, including ASEAN members.Today, we are back in the age of great-power rivalri

    July 27, 2017 10:00 am JST
  • Asian investment is turning Ethiopia into textile hub

    ADDIS ABABA, Ethiopia The East African country of Ethiopia is fast developing into a dynamic apparel-sourcing hub, as low labor costs draw in international clothing makers.Manufacturers from China, South Korea, India and other countries have opened

    July 27, 2017 10:00 am JST
  • Snapdeal board accepts Flipkart's $900m-plus takeover offer

    MUMBAI -- Indian e-commerce startup Snapdeal has accepted a $900 million to $950 million takeover bid from market leader Flipkart, after a roller-coaster round of talks, in a deal that would give the bigger company ammunition for fighting Amazon.com

    July 27, 2017 03:00 am JST
  • India shares rise to record, Nifty closes above 10,000 mark for first time

    MUMBAI (NewsRise) -- Indian shares rose to fresh all-time highs on Wednesday, with theNifty index closing above the 10,000 mark for the first time, as better-than-expected company earnings spurred investors to step up purchases.The benchmark BSE Sen

    July 26, 2017 09:32 pm JST
  • China's Tencent latest to invest in Indian education startup Byju's

    MUMBAI (NewsRise) -- An ambitious Indian startup that is using technology to supplement classroom teaching is drawing investment from major names as it plans to go global. Wednesday, Byju's said it has raised an undisclosed amount from Chinese Inter

    July 26, 2017 09:24 pm JST