Reuters Asia

Adani announces $88 billion India investment plan, first since US indictments

(Reuters) -India’s Adani Group will invest over 7.5 trillion rupees ($88.5 billion) in the northwestern state of Rajasthan, a top executive said on Monday, marking the group’s first major investment since the U.S. indictment of its billionaire founder. The announcement, at an event in Jaipur city attended by Prime Minister Narendra Modi, comes less than …

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Cricket-India’s Siraj and Australia’s Head sanctioned for Adelaide altercation

(Reuters) – Mohammed Siraj and Travis Head have been slapped with demerit points for their bust-up in the second test between India and Australia while the Indian fast bowler was also fined 20% of his match fee, the International Cricket Council said on Monday. The duo had a fiery exchange after Siraj dismissed Australia batter …

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LG Electronics’ India arm files for IPO amid strong consumer durables demand (Dec 6)

(This Dec. 6 story has been corrected to say foreign investors turned net ‘buyers,’ not ‘sellers,’ in paragraph 5) By Manvi Pant and Hritam Mukherjee (Reuters) – The Indian unit of South Korea’s LG Electronics filed for an initial public offering on Friday to cash in on the country’s growing demand for consumer durables amid …

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Indian telco Vodafone Idea to raise $234 million via share issue

(Reuters) -Vodafone Idea will raise up to 19.80 billion rupees ($233.8 million) through the issue of preferential shares, the Indian telecom company said on Monday. Vodafone Idea said it will issue shares to Vodafone Group entities Omega Telecom Holdings and Usha Martin Telematics worth up to 12.8 billion rupees and 7 billion rupees, respectively. The …

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Intel should have focused on AI rather than chipmaking, TSMC founder says

TAIPEI (Reuters) – Intel should have focused on artificial intelligence rather than trying to become a contract chipmaker, the founder of Taiwan Semiconductor Manufacturing Co said on Monday, in relation to the recent departure of Intel’s CEO. Morris Chang, at an event to launch his autobiography, said he did not know why Pat Gelsinger left …

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India questions Musk’s Starlink for more clues in $4.2 billion drug smuggling case

By Munsif Vengattil and Aditya Kalra BENGALURU (Reuters) – Indian police have sent a legal demand to Elon Musk’s Starlink seeking details of who purchased its internet device that helps in sea navigation when smugglers with $4.2 billion worth of meth were caught in the biggest such Indian seizure. Two people with direct knowledge of …

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MapmyIndia parent scraps plan to invest in outgoing CEO’s company, shares surge

(Reuters) – CE Info Systems, the parent firm of digital maps provider MapmyIndia, said on Monday that it has scrapped plans to invest in a company being set up by its outgoing CEO after receiving investor feedback, with its shares closing 16% higher. MapmyIndia powers Apple Inc’s maps in the country and garners 99% of …

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