BUSINESS
India woos Intel and TSMC to set up local semiconductor plants
Prime Minister Narendra Modi’s government late last year unveiled a $10 billion incentives plan, offering to cover as much as half of a project’s cost, to lure display and semiconductor fabricators to set up base in India.
BUSINESS
Anger erupts at Xi Jinping’s ‘Big White’ army of lockdown enforcers
The 33-year-old business director at a fund, who relocated to Shanghai recently from Hong Kong, hoped that signing up would allow him to get more transparent information on the Covid cases in his complex.
BUSINESS
Tesla stock drop wipes out $126 billion in one day
The electric-vehicle maker’s market capitalization is now down more than $275 billion since April 4, when Musk disclosed that he increased his Twitter stake. That’s a drop of roughly 23%.
BUSINESS
Russia to cut gas to Poland and Bulgaria, making energy a weapon
Moscow is making good on a threat to halt gas flows to countries that refuse President Vladimir Putin’s new demand to pay for the fuel in rubles.
BUSINESS
Reckitt kicks off $10 billion infant nutrition business sale
The London-listed company, which sells brands including Enfamil formula, sent out marketing materials to potential buyers this month.
BUSINESS
RBI rate-setter signals June hike possible after prepping market
The Reserve Bank of India earlier this month said it would begin focusing on withdrawing accommodation while still holding rates steady at a record low 4%.
BUSINESS
Adani Group in advanced talks to cement Ambuja takeover deal with Holcim
Ambuja shares climbed about 26 percent in April, giving it a market value of about $10 billion. Holcim, which controls 63.1 percent of the company, has been considering the sale of its stake
BUSINESS
Credit Suisse poised to name Edwin Low as Asia CEO in overhaul
A final sign-off on the succession plan is still pending, according to the people, who asked not to be named as the information is confidential. Low has been co-head of investment banking and capital markets since 2015 and is also CEO of southeast Asia.
BUSINESS
China Central Bank seeks to calm markets with support pledge
The People’s Bank of China “will step up the prudent monetary policy’s support to the real economy, especially for industries and small businesses hit hard by the pandemic,” it said in a statement on Tuesday.
BUSINESS
Indonesia to allow key Palm oil exports, sparking price swings
Indonesia will only halt exports of bulk and packaged RBD palm olein, a higher value product that has been processed.
BUSINESS
Global supply chain crisis flares up again where it all began
Beijing’s zero-tolerance approach amid an escalating virus outbreak brings the pandemic full circle, more than two years after its emergence in Wuhan upended the global economy.
BUSINESS
Elon Musk’s $21 billion mystery: Where will he get cash for Twitter?
On Musk’s side, though, there remains a mystery: How is he going to cover the $21 billion equity portion of the transaction that he’s personally guaranteed?
BUSINESS
A timeline of Elon Musk’s takeover of Twitter
Suddenly, Musk was Twitter’s largest individual shareholder, with more than 9% of the company, and speculation swirled about how he would influence the network’s future.
BUSINESS
Elon Musk and Twitter: What we know, what we don’t about $44 billion deal
The announcement Monday confirmed many of the details that had already been reported -- or tweeted -- about the transaction. It also left many unanswered questions. Here’s what we know so far, what still needs to be clarified, and what might happen next.
BUSINESS
CVC, KKR mulling Toshiba buyout bids as PE firms circle
A buyout of Toshiba, which has a market capitalization of almost $18 billion, would possibly be private equity’s biggest ever deal in the country.
BUSINESS
India’s Sprng Energy nearing $1.8 billion sale to Shell
Shell was among the bidders for Sprng, along with Adani Group and renewable energy firm Greenko, Bloomberg News reported in March.
BUSINESS
Nomura expects Indian IPO market to pick up in second half
“The capital markets on the secondary side which is on the block and QIPs have started to pick up,” Amit Thawani, head of India coverage investment banking at Nomura, said in an interview with Bloomberg Television on Tuesday. “We expect a constructive environment especially in the second half of the year for IPOs.”
BUSINESS
Waning demand for LIC IPO highlights fiscal challenges for Modi
Anchor investors had been reluctant to commit as the war eroded demand for equities, according to people with knowledge of the matter, with foreign funds withdrawing more than $16 billion from Indian stocks this year.
BUSINESS
Majority of India’s 900 million workforce stop looking for jobs
Frustrated at not being able to find the right kind of job, millions of Indians, particularly women, are exiting the labor force entirely, according to new data from the Centre for Monitoring Indian Economy Pvt, a private research firm in Mumbai.
BUSINESS
Cooking-oil chaos exacerbates a looming world hunger crisis
Two months after Russia’s invasion of Ukraine upended global agricultural trade, Indonesia is set to ban exports of cooking oil in the wake of a local shortage and soaring prices, adding to a raft of crop protectionism around the world.
BUSINESS
Oil sinks below $100 as China’s lockdowns imperil demand outlook
West Texas Intermediate futures dropped more than 2% to trade below $100 a barrel after capping a weekly decline. Shanghai reported record daily deaths over the weekend, while authorities in Beijing warned the virus was silently spreading.
BUSINESS
‘Mr. Lithium’ warns there’s not enough battery metal to go around
While there’s been a lot of attention on nickel, especially after Russia’s invasion of Ukraine, another key metal — lithium — is a source of concern for manufacturers dealing with all manner of supply chain challenges.
BUSINESS
New texts shed light on Elon Musk’s 2018 spat with Saudi fund
Now, a series of text messages that Musk exchanged with Silicon Valley friends, investors, and the managing director of Saudi Arabia’s Public Investment Fund during that saga have come to light as part of an ongoing shareholder lawsuit.
WORLD
Ukraine’s farmers fight on the front line of global food crisis
As Ukrainians resist Russian President Vladimir Putin’s military machine, the 36-year-old is another example of the resilience shown by so many of his compatriots in protecting their nation’s statehood.
