BUSINESS
Online grocer Zepto in talks for $250 million secondary sale ahead of IPO
The private equity arms of Motilal Oswal Financial Services Ltd. and Edelweiss Financial Services Ltd. are in discussions with the Bangalore-based startup to buy shares in the secondary sale
MARKETS
Chinese tech stocks fall more than 3%, nearing correction
The Hang Seng Tech Index dropped as much as 3.8% on Tuesday, taking its drop from a March 18 high to about 9%
TECHNOLOGY
Alibaba’s Tsai warns of a ‘bubble’ in AI data center buildout
A rush by big tech firms, investment funds and other entities to erect server bases from the US to Asia is starting to look indiscriminate, the billionaire executive and financier said
BUSINESS
Asian stocks advance on Trump’s tariff signals
Indexes in Australia and Japan advanced after Wall Street’s risk-on bid lifted shares of nearly all stripes in a rebound from a sharp selloff that has challenged the notion of US exceptionalism.
BUSINESS
OpenAI Expands COO’s Role as Altman Focuses on Research and Products
OpenAI has significantly expanded its leadership ranks since Altman was briefly ousted by the board in late 2023, reflecting the company’s growing headcount, valuation and ambitions.
BUSINESS
India to seek tariff reprieve in meeting with US officials
Brendan Lynch, US assistant trade representative for South and Central Asia, and a team of officials will visit India from March 25-29 as part of ongoing trade discussions, the US embassy in New Delhi said in a statement Monday.
BUSINESS
Jack Ma-backed Ant touts AI breakthrough using Chinese chips
Hangzhou-based Ant is still using Nvidia for AI development but is now relying mostly on alternatives including from Advanced Micro Devices Inc. and Chinese chips for its latest models, one of the people said.
WORLD
BYD sales top Tesla as tech focus wins over Chinese drivers
Shenzhen-based BYD reported revenue of 777 billion yuan ($107 billion) for the 12 months ended Dec. 31, up 29%, according to a filing late Monday, beating estimates for 766 billion yuan. Tesla’s 2024 revenue was $97.7 billion.
AUTOMOBILE
BYD’s sales soar as Chinese carmaker captures world’s attention
BYD has risen quickly to the top of China’s car market — the world’s biggest and most competitive in terms of electric vehicles
BUSINESS
Xiaomi seeks up to $5.3 billion in jumbo share sale
Xiaomi is investing aggressively in its nascent EV business to drive growth. It recently increased its 2025 EV delivery target after posting the fastest revenue growth since 2021.
TECHNOLOGY
SAP topples Novo to become Europe’s most-valuable listed company
Shares of SAP, which have been powered by growing investor optimism over its cloud-based software, rose 1.6% on Monday, valuing the German company at about €314 billion
BUSINESS
Bank of America’s India Head Kaku Nakhate said to be leaving position after 15 years
The bank has tapped Vikram Sahu, currently head of its global equity research, to succeed Nakhate as the India country head, the memo shows. Sahu will relocate from New York in the second quarter.
BUSINESS
India’s spot oil needs wane as Russia flows are set to rebound
New Delhi's state-owned processors are on track to secure more than three dozen cargoes that will load next month
TECHNOLOGY
AI chip startup FuriosaAI rejects Meta’s $800 million offer
Meta had been in discussions about acquiring Seoul-based FuriosaAI since the start of this year
MARKETS
Asia credit market heats up as issuers rush to beat tariff wave
They are turning to the bond market before a hotly-anticipated US tariff announcement on April 2, which Trump has referred to as “Liberation Day.”
TECHNOLOGY
Jack Ma-backed Ant touts AI breakthrough built on Chinese chips
Ant used domestic chips, including from affiliate Alibaba Group Holding Ltd. and Huawei Technologies Co., to train models using the so-called Mixture of Experts machine learning approach, the people said
WORLD
Billion-dollar US levies on Chinese ships risk ‘trade apocalypse’
China now produces more than half of the world's cargo ships by tonnage, up from just 5% in 1999, according to the USTR, with Japan and South Korea the other shipbuilding powers
TECHNOLOGY
AI boom turns Asian data centers into magnets for loan deals
The deals underscore the industry’s appeal in attracting a range of investors — from banks to real estate players — as the AI boom drives demand
MARKETS
Stock futures rise on hope of targeted US tariffs
Futures for the S&P 500 and Euro Stoxx 50 rose along with equities in China, though a broader gauge of Asian shares edged lower
WORLD
China says it’s prepared for shocks as US tariffs loom
Li’s speech comes as China renews efforts to attract foreign businesses after inbound investment tumbled last year to its lowest in over three decades.
WORLD
Pentagon launches probe including polygraphs after Musk visit
Musk, the world’s richest man with billions of dollars in defense contracts, visited the Pentagon on Friday for a conversation about cost-cutting and innovation.
BUSINESS
China says it’s prepared for greater shocks as US tariffs loom
Countries should open up markets in the face of growing economic fragmentation, Li told a gathering of global business leaders and visiting Republican Senator Steve Daines at the start of the China Development Forum in Beijing on Sunday.
WORLD
Trump plans his tariff ‘Liberation Day’ with more targeted push
Trump is preparing a “Liberation Day” tariff announcement on April 2, unveiling so-called reciprocal tariffs he sees as retribution for tariffs and other barriers from other countries, including longtime US allies.
WORLD
Is US recession concern rising under Trump’s trade, tariff policies?
Fed Chair Jerome Powell sought to tamp down worries over those inflation expectations, repeatedly referring to the figure as an outlier
