Asia Pacific

Headlines

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...

Survey by MVision and London Business School reveals private equity’s attitudes to Chinese outbound acquisitions

Chinese money to heat up M&A in next 12 months Report released by MVision Private Equity Advisers and the London Business School reveals private equity’s attitudes to Chinese outbound acquisitionsPrivate equity firms expect to face more competition from Chinese buyers over the next 12 months across multiple sectors, with healthcare expected to see...

Strong year forecast for Asia Pacific M&A

Optimism is high for M&A in Asia Pacific following a solid 2016, Herbert Smith Freehills says.“2016 presented Asia Pacific’s dealmakers with a range of challenges including low commodity prices, volatile capital markets in some parts of Asia, a new US administration, along with the global shock of Brexit," commented Andrew Pike, Herbert Smith Freehills’...

Finance

China’s bullying is backfiring in South Korea’s presidential race

ANY excuse for a party. On April 25th North Korea celebrated the 85th anniversary of the founding of its glorious army. Ten days before its young despot, Kim Jong Un, had marked the 105th birthday of his grandfather, Kim Il Sung, the country’s founder, with a vast military parade. Mr Kim loves fireworks, too. He set off a ballistic missile in...

Why India’s opposition is nearly irrelevant

TWO years ago voters in Delhi, the Indian capital, whistled a warning to prime minister Narendra Modi. It was less than a year since he had led his Bharatiya Janata Party (BJP) to power in a sweeping general-election triumph. Yet suddenly, at the very seat of the national government, a puny upstart party running a shoestring anti-corruption campaign...

Australia’s prime minister is not the man he used to be

Mr Abbott looms over Mr Turnbull MALCOLM TURNBULL had always seemed to be what Australians call a “small-l liberal”. Unlike many in the Liberal Party, which despite its name is Australia’s main conservative force, he was a defender of progressive causes. In 1986, as a lawyer, he successfully challenged a bid by the British government to prevent...

South Korea’s presidential election fuels a row about gay rights

“IT IS 2017. Moon Jae-in just opposed homosexuality,” thundered the headline of a newspaper following a live television debate among South Korea’s presidential candidates. Gay sex is legal in South Korea, but stigmatised. Mr Moon, a former human-rights lawyer and the liberal candidate, who leads the polling for the election on May 9th, had...

Malaysia and Abu Dhabi strike a deal over 1MDB

FOR the past year 1MDB—a Malaysian state investment firm at the heart of one of the world’s biggest financial scandals—has been locked in dispute with IPIC, a sovereign-wealth fund from the oil-rich emirate of Abu Dhabi, with which it was once chummy. Terse statements released on April 24th suggest the pair are finally making up. 1MDB...

Legal

'Failure to prevent' offences on course for September as legislation clears parliament

The Criminal Finances Act was one of the final pieces of legislation to receive royal assent during the 'wash up' period ahead of June's early general election. A truncated 2017 Finance Act has also received royal assent.The government has previously indicated that the offences would come into force this autumn, before the first automatic exchanges...

Australia cuts LNG exports to protect domestic supply

A shortage of domestic gas supplies has already resulted in "dramatically higher prices in Australia - higher than prices paid in the markets to which Australian gas is being exported", prime minster Malcolm Turnbull said."Australians are entitled to have access to the gas they need at prices they can afford," he said.Under the Australian Domestic Gas...

'Certainty' for providers as UK higher education reforms become law

The government has also agreed to consult on new guidance about what providers will have to demonstrate before they can be awarded use of the title 'university'.The Higher Education and Research Act was one of the final pieces of legislation to receive royal assent during the 'wash up' period ahead of June's early general election.Although various regulations...

Advocate general: flight attendants' employment contracts based in jurisdiction where most obligations carried out

Ryanair and Crewlink are both established as companies under Irish law and have their registered offices in Ireland. Crewlink recruits and trains cabin crews, and both Crewlink and Ryanair recruited Portuguese, Spanish, and Belgian employees as members of Ryanair cabin crews between 2009 and 2011.All of these contracts of employment gave Charleroi airport...

Advocate general: fight attendants' employment contracts based in jurisdiction where most obligations carried out

Ryanair and Crewlink are both established as companies under Irish law and have their registered offices in Ireland. Crewlink recruits and trains cabin crews, and both Crewlink and Ryanair recruited Portuguese, Spanish, and Belgian employees as members of Ryanair cabin crews between 2009 and 2011.All of these contracts of employment gave Charleroi airport...

Deals

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...

​Advent International acquires significant minority stake in ASK Group, a leading investment and wealth manager in India

Partnership to focus on accelerating ASK’s growth by strengthening its team, launching new products and expanding internationally.Advent International, one of the largest and most experienced global private equity investors, today announced that it has acquired a significant minority ownership interest in ASK Group (“ASK”), a leading investment...

Chinese government money backs buyout firm’s deal for U.S. chip maker

Canyon Bridge Capital Partners, a buyout fund that agreed to acquire U.S.-based chip maker Lattice Semiconductor Corp for $1.3 billion earlier this month, is funded partly by cash originating from China's central government and also has indirect links to its space program, Chinese corporate filings show.Reuters, in a review of about a dozen filings...

Acq Lite

Ruptured eardrum forces Gwen Stefani to cancel Vegas show

April 28 (UPI) --Gwen Stefani canceled a performance at a fundraiser in Las Vegas after rupturing her eardrum.Stefani, 47, was scheduled to perform Thursday as the headlining act for the Keep Memory Alive: Power of Love Gala at the MGM Grand Garden Arena but was forced to cancel due to the injury.Her entertainment manager Irving Azoff told the Las Vegas...

Paramount TV, Anonymous Content nab rights to 'The Vampire Chronicles'

April 28 (UPI) -- Paramount Television and Anonymous Content say they have optioned the rights to 11 books from Anne Rice's The Vampire Chronicles collection.Christopher Rice will write the scripts for the supernatural drama and will serve as executive producer alongside his mother, Anne Rice, as well as Anonymous Content's David Kanter and Steve Golin....

Shazad Latif, Rekha Sharma board 'Star Trek: Discovery'

April 28 (UPI) -- Shazad Latif, Rekha Sharma, Kenneth Mitchell, Clare McConnell and Damon Runyan have joined the ensemble of Star Trek: Discovery.The stars will play various Starfleet officers and Klingons."The series will feature a new ship, new characters and new missions, while embracing the same ideology and hope for the future that inspired a generation...

Selena Gomez says reaction to faux bob was 'so funny'

April 28 (UPI) --Selena Gomez says fan reaction to her faux bob was "so funny."The 24-year-old singer and actress confirmed in an interview Thursday at WE Day California that she was wearing a wig in an Instagram photo that went viral this week."It was so funny," Gomez told Extra. "I was wearing different wigs. I trying on some stuff and I posted the...

Harry Styles announces fall world tour

April 28 (UPI) --Harry Styles is set to hit the road once again as part of a solo world tour that begins this fall.The world tour begins with a 13-date North American leg that starts Sept. 19 in San Francisco and wraps up Oct. 14 in Phoenix.The One Direction alum is then heading across the pond starting October 25 for a performance in Paris and then...