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Ambani’s Reliance Jio IPO set for 2025, retail debut much later on November 4, 2024 at 1:52 pm

Reuters was first to report that Indian billionaire Mukesh Ambani is targeting a 2025 Mumbai listing for his telecom business Jio, valued by analysts at over $100 billion, but plans to launch his retail unit’s IPO much later. The story shed light on the plans of Asia’s richest man, who has for years been silent on the timelines of the mega IPOs of Reliance Jio and Reliance Retail.   Why it…

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Eyeing US election, China considers over $1.4 trillion in extra debt over next few years on October 29, 2024 at 7:32 am

China is considering approving next week the issuance of over 10 trillion yuan ($1.4 trillion) in extra debt in the next few years to revive its fragile economy, a fiscal package which is expected to be further bolstered if Donald Trump wins the U.S. election, two sources with knowledge of the matter told Reuters.  Why it matters  The planned total amount, to be raised by issuing both special…

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US opposition to Nippon Steel deal ‘very unsettling’, Japan PM hopeful sayson September 6, 2024 at 11:06 am

Reuters exclusively reported that one of the frontrunners to become Japan’s next premier said that any U.S. move to block Japan’s Nippon Steel from buying U.S. Steel on national security grounds would be “very unsettling.” Shigeru Ishiba, a former defence minister, told Reuters in an interview that the move could dent trust between the allies. The White House is close to announcing that President…

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China tells some brokerages to conduct compliance checks on bond trading on August 9, 2024 at 10:57 pm

Reuters exclusively reported that China’s securities regulator has ordered some brokerages to inspect their bond trading activities as authorities seek to rein in frenzied buying of Chinese government bonds. The brokerages, all of which are domestic, have been told to conduct compliance checks on all parts of their bond trading operations.  The post China tells some brokerages to conduct…

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India flags cricket rights concerns with Disney-Reliance $8.5 bln mergeron August 20, 2024 at 8:36 pm

Reuters exclusively reported that India’s antitrust body has reached an initial assessment that the $8.5 billion India merger of Reliance and Walt Disney media assets harms competition due to their power over cricket broadcast rights. It is the biggest setback so far to the planned Disney-Reliance merger, which aims to create India’s biggest entertainment player with a combined 120 TV channels…

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Japan, Tokyo governments target $4.7 bln valuation for Tokyo Metro in IPOon August 19, 2024 at 8:25 pm

Reuters exclusively reported that Japan’s national and Tokyo governments are seeking a 700 billion yen ($4.7 billion) valuation for Tokyo Metro as they prepare to list the subway operator as early as October-end, in what would be the nation’s biggest IPO in roughly six years. The two governments, which own 100% of Tokyo Metro, plan to arrange a meeting of brokerages within a week for a briefing…

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US, Vietnam discuss supplying Hanoi with C-130 military transport planeson July 24, 2024 at 7:44 am

Reuters exclusively reported that the United States and Vietnam are discussing the sale of Lockheed Martin C-130 Hercules military transport planes to Hanoi, in a sign of closer security cooperation between the two former foes. The post US, Vietnam discuss supplying Hanoi with C-130 military transport planes appeared first on Reuters News Agency.

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India races to build power plants in region claimed by Chinaon July 9, 2024 at 1:48 pm

Reuters exclusively reported that India plans to spend $1 billion to expedite the construction of 12 hydropower stations in the northeastern Himalayan state of Arunachal Pradesh, two government sources said, a move that could raise tensions with China that lays claims to the region.  The post India races to build power plants in region claimed by China appeared first on Reuters News Agency.

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PwC weighs halving of China financial services audit staff on July 17, 2024 at 1:57 pm

Reuters exclusively reported that PricewaterhouseCoopers (PwC) is considering slashing up to half its financial services auditing staff in China as a regulatory investigation and an exodus of clients darken business prospects. The move follows Chinese regulators’ scrutiny of PwC this year for its role as the auditor of troubled property giant China Evergrande Group.  The post PwC weighs halving…

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Indian officials visit Foxconn iPhone plant, question executives about hiring on July 4, 2024 at 5:57 pm

Reuters exclusively reported that Indian labour officials visited a Foxconn factory in the country’s south this week and questioned executives about the company’s hiring practices after Reuters reported that the major Apple supplier has been rejecting married women from iPhone assembly jobs.  The post Indian officials visit Foxconn iPhone plant, question executives about hiring  appeared first on…

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G7 plans to warn small Chinese banks over Russia ties on June 9, 2024 at 8:05 pm

Reuters exclusively reported that U.S. officials expect the Group of Seven (G7) wealthy democracies to send a tough new warning next week to smaller Chinese banks to stop assisting Russia in evading Western sanctions.  The post G7 plans to warn small Chinese banks over Russia ties  appeared first on Reuters News Agency.

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Japan spot work startup Timee targets July listingon June 11, 2024 at 8:09 pm

Reuters exclusively reported that Japan startup Timee, which operates a platform connecting workers seeking side gigs with labour-strapped businesses, is targeting a listing in July in Tokyo.  The post Japan spot work startup Timee targets July listing appeared first on Reuters News Agency.

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India regulator plans tweaks to address derivative trading riskson June 18, 2024 at 8:18 pm

Reuters exclusively reported that India’s markets regulator is considering a series of tweaks to its derivative trading rules as it seeks to address risks arising from explosive growth in options trading. The post India regulator plans tweaks to address derivative trading risks appeared first on Reuters News Agency.

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India plans new shipping firm to capture revenue from growing trade on June 5, 2024 at 7:50 pm

Reuters exclusively reported that India plans to set up a new shipping company to expand its fleet by at least 1,000 ships in the next decade, as Asia’s third-largest economy seeks a bigger chunk of revenue from surging trade. The post India plans new shipping firm to capture revenue from growing trade  appeared first on Reuters News Agency.

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Qatar sovereign fund agrees to buy 10% stake in China asset manageron June 4, 2024 at 2:49 pm

Reuters exclusively reported that Qatar’s sovereign wealth fund has agreed to buy a 10% stake in China’s second-largest mutual fund company, underscoring Beijing’s increasing ties with the Middle East amid rising tensions with the West.  The post Qatar sovereign fund agrees to buy 10% stake in China asset manager appeared first on Reuters News Agency.

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TikTok preparing a US copy of the app’s core algorithm on May 30, 2024 at 2:14 pm

Reuters exclusively reported that TikTok is working on a clone of its recommendation algorithm for its 170 million U.S. users that may result in a version that operates independently of its Chinese parent and be more palatable to American lawmakers who want to ban it. The story contradicted TikTok’s own claims that this was impossible technologically or commercially according to a lawsuit it…

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India’s Reliance to buy Russian oil in roubleson May 28, 2024 at 2:34 pm

Reuters exclusively reported that India’s Reliance Industries, operator of the world’s biggest refining complex, has signed a one-year deal with Russia’s Rosneft to buy at least 3 million barrels of oil a month in roubles.  The post India’s Reliance to buy Russian oil in roubles appeared first on Reuters News Agency.