Asia Pacific
Headlines
Japanese firms step up overseas M&A
Number of deals hits record in first half as smaller companies get into the game With SoftBank CEO Masayoshi Son taking the lead, Japanese companies have been engaging in mergers and acquisitions at record levels. Japanese corporations made 339 overseas mergers and acquisitions during the first half of the current Japanese fiscal year, the highest...
Investcorp adds Deepak Parekh to International Advisory Board
Investcorp, a global provider and manager of alternative investment products, today announced that Deepak Parekh, Chairman of HDFC Limited, Indian’s leading Financial Services conglomerate, has been appointment to Investcorp’s International Advisory Board. Mr Parekh has played a significant role in the development of the financial sector...
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...
Finance
North Korea reminds the world why past peace talks have failed
THE sun smiled down on the demilitarised zone between the two Koreas on April 27th, the day Moon Jae-in, South Korea’s president, met Kim Jong Un, the North Korean leader, for a strikingly warm summit at which they agreed on the “complete denuclearisation” of the peninsula. On May 16th the weather was very different, and so was the news....
At last, a cause to unite all Malaysia’s ethnic groups
IT IS tempting to interpret the drama of the past week—in which the United Malays National Organisation (UMNO) and its allies, which had run Malaysia for 61 years, crashed from power—as the result of the interaction of three former colleagues in UMNO. Without the extreme greed of UMNO’s Najib Razak, the fallen prime minister, the country...
Islamists in Indonesia deploy their own children in suicide attacks
Neither churches nor children spared ALL terrorist attacks are sickening, but some more so than others. On May 13th a family of suicide bombers killed 13 people and wounded more than 40 others in attacks on Christian churches in the city of Surabaya in eastern Java. The father drove a car packed with explosives into one Sunday service. His two sons,...
Myanmar’s government sits by while the army goes on the offensive
Giving peace a charge AFTER fighting flared in April between the Burmese army and the Kachin Independence Army (KIA), an insurgent force controlling much of Myanmar’s northern extremes, thousands of civilians fled into the jungle. Some trekked for weeks before reaching Myitkyina, the capital of Kachin state, where they have taken refuge in a local...
Australia’s biggest river is running dry, despite plans to save it
Where did all the efficiency savings go? PADDLE steamers once chugged up and down the Darling, the main tributary of the Murray river, ferrying wool from remote farms to the port of Adelaide. The Murray-Darling basin, which is larger than Ethiopia, gives life to Australia’s arid interior (see map). But these days the Darling is reduced to a putrid...
Legal
After Fintech, Singapore eyes Legaltech status
Singapore, a haven for disruptive fintech firms, is aiming to shake up Asia's legal sector next The Lion City will host Southeast Asia's first legaltech accelerator from April. The city-state's initiative aims to groom legaltech startups as well as incubate new business models or services conceived by law firms. Singapore's law academy has launched...
China updates New Industry Catalogue
PRC reduces regulatory procedures for foreign investments following its 2016 reforms. China creates a nationally applicable “negative list” for foreign investment, which opens up more industries for multi-national companies.Foreign Investments Filing Administrative Rules will be updated and published soon by the Ministry of Commerce to clarify...
Proposals to make free movement of data a principle of EU law expected this autumn
Ansip said proposed new EU legislation to tackle unnecessary restrictions on where data can be stored are likely to be published this autumn.The proposals will also look to make it easier for businesses to move their data between rival cloud providers and ensure that public sector bodies can access data held by authorities in another EU country to help...
New advertising standards in the UK to take tougher stance on gender stereotypes
The new standards will be drawn up by the Committee of Advertising Practice (CAP), according to a new report on gender stereotypes in advertising (64-page / 5.4MB PDF) published by the Advertising Standards Authority (ASA), the watchdog that oversees compliance with UK advertising rules.The CAP will also look to "clarify standards that reflect the ASA‘s...
BREXIT: Scottish government calls for protection of devolved powers
Minister for negotiations on Scotland’s place in Europe Michael Russell wrote to all MSPs asking them for full backing of the Scottish government's position. The move comes after the UK government published the European Union (Withdrawal) Bill on Thursday last week.Russell said the Scottish government had “serious concerns about the bill in a number...
Deals
HNA turns M&A norms around again
Everyone used to want to be on the sell side; now they want to be on the buy side.In recent months, there has been a new game in Hong Kong investment banking called ‘Distance yourself from HNA’. It is easy to play. On the way up, everyone wanted to advise HNA, the acquisitive-though-opaque Chinese conglomerate whose big holdings include stakes in...
The Morning Leverage: Brookfield Raises at Least $3.38B for Restructuring Fund
A roundup of private equity-related news.Read More
The Morning Leverage: EIG Global Energy Caught by Breitburn’s Liquidity Woes
A collection of private equity-related news from across the Web.Read More
The Morning Leverage: Castle Harlan Closes the Book on Baker & Taylor With Follett Sale
A collection of private equity related news from across the Web.Read More
PE-Backed Imaging Advantage to Build X-Ray Reading Machine
Private equity backed Imaging Advantage is developing a machine capable of reading X-rays.Read More
Acq Lite
'SNL' parodies royal wedding reception
May 20 (UPI) -- The cast of Saturday Night Live -- and guest host Tina Fey -- performed a parody of Prince Harry and U.S. actress Meghan Markle's wedding reception. Mikey Day played an enthusiastic Harry, who wore a military uniform as he spoke to the television camera, introducing tipsy guests such as Elton John, played by Aidy Bryant, and Kate Middleton,...
Hirokazu Kore-eda's 'Shoplifters' wins the Palme d'Or at Cannes
May 20 (UPI) -- Hirokazu Kore-eda's Shoplifters won the top honor -- the Palme d'Or -- at the Cannes Film Festival in France this weekend. Jean-Luc Godard's The Image Book received the Special Palme d'Or and Spike Lee's BlacKkKlansman earned the Grand Prix. The Jury Prize went to Capernaum, directed by Nadine Labaki, and Pawel Pawlikowski won for...
Famous birthdays for May 20: Timothy Olyphant, Cher
May 20 (UPI) -- Those born on this date are under the sign of Taurus. They include: -- William Thornton, architect of the Capitol in Washington, in 1759 -- Dolley Madison, wife of the fourth U.S. president, James Madison, in 1768 -- French novelist Honore de Balzac in 1799 -- English philosopher and economist John Stuart Mill in 1806 -- German Emile...
Elton John sings 'Circle of Life' at Prince Harry's wedding reception
May 19 (UPI) -- British pop star Elton John sang "Circle of Life" at a lunchtime wedding reception Queen Elizabeth II held Saturday for her grandson Prince Harry and his new bride Meghan Markle. He also performed "Tiny Dancer." "Prince Harry asked Sir Elton to perform at the reception which was hosted by Her Majesty The Queen at St. George's Hall,...
Celebrities watch royal wedding 'in tears'
May 19 (UPI) -- Actor Josh Gad, model Naomi Campbell and other celebrities posted about the royal wedding between Prince Harry and Meghan Markle on social media Saturday, commentating on how the lavish ceremony brought them to tears. Harry and Markle officially got married at St. George's Chapel at Windsor Castle in England. "I went from promising...