Asia Pacific

Headlines

South Korea: Making up for lost time

After the impeachment of South Korea’s former president, Park Geun-hye, amid a far-reaching corruption scandal, the country was ready for change. South Korea’s new liberal president, Moon Jae-in, appears set to take on that challenge. Campaigning on a policy platform of job creation, corporate governance and labour market reforms, as well as promises...

Alibaba acquires majority stake In Indian ticketing startup TicketNew

Alibaba Pictures, the entertainment unit of China’s ecommerce major Alibaba Group, has acquired a majority stake in Chennai-based TicketNew for an undisclosed amount. Post-acquisition, Alibaba will have four representatives on TicketNew’s board and the firm’s promoters will have two of their representatives. TicketNew founder and CEO Ramkumar...

NIO unveils production vehicle for China Market

NIO unveiled new production vehicle, the NIO ES8, a 7-seater high-performance electric SUV for the China market - NIO ES8’s official launch will take place at the end of this year, with deliveries expected to begin next year - NIO to begin taking pre-orders of its flagship supercar, the NIO EP9, priced at 1.48 million USD - 11 Cars: NIO showcased...

X-ELIO closes the financing process for two new photovoltaic plants in Japan

The group achieves the necessary funds for the start-up of two new solar parks in Japan: Tsurusu and Shiroishi.Both PV power stations will be located at Miyagi Prefecture. Tsurusu Park will have a capacity of 38 MW and Shiroishi will reach 28 MW.The plants are expected to start producing energy in the second half of 2018.With both parks, the X-ELIO...

Hindalco raises ₹3,350 crore via QIP

Hindalco Industries, an Aditya Birla group company, has raised ₹3,350 crore through issue of shares under qualified institutional placement, largely to pay back high-cost debt and invest in value-added aluminium and copper products. The capital-raising committee of the company’s board met here on Thursday and approved the proposal to allot 17.68...

Finance

India’s raucous democracy is becoming more subdued

THE candidate that India’s ruling Bharatiya Janata Party (BJP) has put forward for the largely ceremonial post of president looks like a canny choice: Ram Nath Kovind, a longtime devotee of a Hindu group allied with the party, but also a dalit—the bottom rung in India’s caste system. He should appeal both to the party’s religiously motivated...

Mongolians prepare to elect a new president

ADDRESSING more than 3,000 supporters in a packed arena five days before the first round of Mongolia’s presidential election on June 26th, Khaltmaa Battulga, the Democratic Party (DP) nominee, promised the things candidates everywhere tend to promise: modern infrastructure, better jobs and restored national pride. Other pledges were more specific...

The outrageous death of Otto Warmbier complicates American policy on North Korea

North Korea’s idea of humanitarianism “HOW safe is it? Extremely safe!” So read the guidance for North Korea on the website of a Chinese travel company when Otto Warmbier, a 21-year-old American student, signed up for a five-day trip in December 2015. Mr Warmbier was arrested the next month at the airport in Pyongyang, as he was leaving, and...

One country in Asia has embraced same-sex marriage. Where’s next?

LET’S hear it for Taiwan. Late last month its highest court ruled that the law allowing marriage only between a man and a woman was invalid. Sexual orientation, it said, is “an immutable characteristic that is resistant to change”—rebutting a widespread view across Asia that homosexuality is a curable disease. Barring same-sex couples from...

Japan’s government is in two minds about smoking

TARO ASO, Japan’s finance minister, is a seasoned champion of the political gaffe. Among his most notorious observations was that health costs could be cut if elderly people would just hurry up and die. Even by that standard, however, the doubts he has expressed about the link between cigarettes and lung cancer have raised eyebrows. Mr Aso’s...

Legal

New transparency requirements for Scottish limited partnerships now in force

The Scottish Partnerships (Register of People with Significant Control) Regulations came into force on Monday 26 June and bring the approximately 30,000 Scottish limited partnerships into line with new EU-wide anti-money laundering rules. Partnerships which fail to disclose the identities of their beneficial owners within 28 days could face fines of...

HMRC strengthens investigation staff ahead of new corporate criminal offence

The increase suggests that HMRC could already be carrying out initial investigations into firms, ahead of the new laws coming into force in September, according to Pinsent Masons, the law firm behind Out-Law.com.Investment by HMRC into its 'Fraud Investigation Service' increased to £204 million over the 2016/17 tax year, up from £186m in 2015/16,...

Commission approves French support for Paris-Charles-de-Gaulle rail line

France plans to grant state aid to a joint venture between SNCF Réseau and Aéroports de Paris, which will build and operate a direct express railway line between the airport and the Gare de l'Est train station in Paris. The total estimated cost of the project is €1.32 billion, and the 32 kilometre line is expected to start operation in 2023, the...

European Commission fines Google over online shopping search results

The Commission said the company gave "prominent placement to its own comparison shopping service" in the search results it indexed and also demoted links to similar services run by rivals. It said Google was responsible for a breach of EU competition law as a result. Its findings concern search results in 13 European countries, including the UK and...

HMRC extends deadline for employee share plan returns

In a recent ERS bulletin, HMRC said due to “recent problems” encountered by companies using the service it had extended the deadline for the 2016/17 tax year from 6 July to 24 August.The deadline was also extended in 2015 after the introduction of the scheme when the online filing system failed.Share plans expert Suzannah Crookes of Pinsent Masons,...

Deals

Four of the five largest private equity funds are in Asia

At a time when a record number of private equity (PE) funds are seeking capital from investors around the world, Asia is emerging as a hotbed of PE activity, and this is reflected from the fact that three of the five largest funds on the road to raise capital at the end of first quarter this year focus on this continent.Again, of the five largest...

Japan dominates Asia-Pacific outbound M&A for Q1

Japan’s continued hunt for growth pushed it to the top of the Asia-Pacific region for outbound deal value during the first quarter of 2017, knocking China from its top spot as Chinese buyers face their own regulatory and political challenges, experts say. The first quarter of the year saw Japanese buyers ink $14.72 billion in transaction value...

Chinese capital constraints send shock through global M&A

Outbound deals hit lowest level since 2014 after cash clampdown For months, Chinese conglomerate Fujian Thai Hot has been on the cusp of completing a $1.4bn buyout of a Hong Kong-based life insurer.There has been just one problem: the cash needed to pay for the deal has been stuck inside China, awaiting a final regulatory sign-off from the country’s...

Inox Renewables to sell wind power assets to Leap Green Energy

Leap Green Energy said the acquisition will help it increase its operating capacity to 762MW across four states Inox Group has decided to exit the wind farm business to focus on its core businesses, including that of wind turbine manufacturing. Mumbai: Renewable energy firm Inox Renewables Ltd on Tuesday said it has agreed to sell its operating wind...

Asia-Pacific financial sector M&A declines amid uncertainty

Volume falls 38% amid global turmoil; China, South Korea post growthThe number of mergers and acquisitions involving financial companies in the Asia-Pacific region dropped 10% in 2016 from the previous year amid increased global uncertainty, according to Deloitte Tohmatsu Financial Advisory.The business of buying and selling companies was negatively...

Acq Lite

BTS among Time's Most Influential People on the Internet in 2017

June 27 (UPI) -- South Korean boy band BTS made Time's new list of the Most Influential People on the Internet this week.The K-pop group and other celebrities, including model Chrissy Teigen, singer Katy Perry and Harry Potter author J.K. Rowling, were honored by the magazine Monday.BTS overtook such stars as Justin Bieber and Selena Gomez to spend...

Zac Efron, Zendaya tease 'The Greatest Showman' trailer

June 27 (UPI) --Zac Efron and Zendaya gave fans a first glimpse of The Greatest Showman trailer Tuesday.The 29-year-old actor and 20-year-old actress shared clips of themselves performing trapeze stunts in the new film starring Hugh Jackman."Thanks @Zendaya! @pasekandpaul, here's the @GreatestShowman #TrailerTrapeze. Catch!" Efron tweeted to his 13.7...

'Eric & Jessie' to return for Season 3 in September

June 27 (UPI) --Eric & Jessie will return to television for a third season in September.E! confirmed in a press release Tuesday that NFL star Eric Decker and singer Jessie James Decker will star in a new season of the series.Eric and Jessie married in 2013, and share 3-year-old daughter Vivianne and 20-month-old son Eric Jr. Season 3 will follow...

Heidi Klum's boyfriend denies cheating after kiss photos surface

[unable to retrieve full-text content]Vito Schnabel said people mistakenly assumed he was being unfaithful to Heidi Klum in new pictures.Read More

Spike Lee's 'She's Gotta Have It' dated for Thanksgiving in new teaser

[unable to retrieve full-text content]Spike Lee's upcoming Netflix re-imagining of his classic 1986 film "She's Gotta Have It," will release on Thanksgiving according to a new teaser.Read More