BENGALURU (Reuters) – S&P Global Ratings revised its outlook for India’s Adani Ports and Special Economic Zone and Adani Electricity Mumbai to stable from negative on signs of robust cash flow in the next 12 to 24 months. Adani Ports’ ratio of adjusted net debt to earnings before interest, tax, depreciation and amortization – a …
S&P Global upgrades Adani Ports, Adani Electricity on cash flow optimism Read More »
(Reuters) – JSW Group is set to invest 400 billion rupees ($4.81 billion) in electric vehicle (EV) manufacturing projects in India’s coastal state of Odisha, as it takes on both domestic and international players in India’s small but booming EV market. Electric models made up around 2% of India’s car sales last year, with Tata …
JSW Group to invest $5 billion in EV projects in eastern India Read More »
By Nishit Navin and Chris Thomas BENGALURU (Reuters) -Japan’s Sony Group scrapped plans on Monday for a $10 billion merger of its Indian unit with Zee Entertainment, ending a deal that could have created one of the South Asian nation’s biggest TV broadcasters. The collapse of the deal in content-hungry India creates more uncertainty for …
Sony ends $10 billion merger with India’s Zee, setting stage for legal row Read More »
By Jessie Pang and Greg Torode HONG KONG (Reuters) – Hong Kong’s top judge on Monday night defended the legal system in the Chinese-ruled city, making rare comments after intensifying Western criticism of a landmark national security trial of democracy activist and tycoon Jimmy Lai now underway. Chief Justice Andrew Cheung, who heads the Court …
Hong Kong’s top judge defends courts amid Western concerns Read More »
By Krishn Kaushik NEW DELHI (Reuters) – A Chinese research vessel is on its way to the Maldives, according to an Indian military official and an independent researcher, as new Maldivian President Mohamed Muizzu deepens ties with Beijing, distancing from New Delhi. It is likely to raise concern in New Delhi, which has previously viewed …
Chinese research vessel heads to Maldives, could concern India Read More »
(Reuters) -Iranian-backed Houthi militants in Yemen have stepped up attacks on vessels in the Red Sea, impacting a shipping route vital to East-West trade. In response, some shipping companies have instructed vessels to instead sail around southern Africa, a slower and therefore more expensive route. The U.S. and Britain launched dozens of air strikes against …
Factbox-Shipping firms react to Houthi attacks in the Red Sea Read More »
(Reuters) -SolarEdge Technologies said on Sunday it would lay off about 16% of its global workforce in an attempt to reduce operating costs. The job cuts, which would affect roughly 900 employees, came after SolarEdge discontinued manufacturing in Mexico, reduced capacity in China, and terminated light commercial vehicle e-mobility activity. Costs related to these actions …
SolarEdge to lay off 16% of workforce to trim operating costs Read More »
KABUL (Reuters) – Four survivors of a crash in northern Afghanistan of a charter plane on its way to Moscow were in good health, the Taliban administration said on Monday. It also said that the bodies of two passengers killed in the accident were being moved to the Afghan capital from the remote crash site. …
Four survivors of Russian plane crash in Afghanistan in ‘good health’ says Taliban Read More »
BEIJING (Reuters) – China will take more forceful and effective measures to support market confidence, state media CCTV reported on Monday, citing a cabinet meeting, following a plunge in Chinese shares. The world’s second-biggest economy faces multiple challenges including a weak housing market, sluggish demand, deflationary pressures and geopolitical uncertainties – factors that have weighed …
China pledges to take more forceful measures to support market confidence Read More »
HONG KONG (Reuters)PROPERTY/DEBT-COUNTRYGARDEN – A major group of Country Garden offshore creditors has appointed Kirkland & Ellis LLP as the legal adviser, a source familiar with the matter said, in a move towards discussing debt repayment options with the defaulted Chinese developer. Country Garden has been working on a plan to restructure its $11 billion …
Country Garden’s offshore bondholders pick Kirkland for debt revamp talks – source Read More »
