Tag: Asia Economy

2024-10-11

7-Eleven’s parent company cuts full-year earnings forecast

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Business

A customer is seen inside a 7-Eleven convenience store along a street in central Tokyo on September 9, 2024.   Richard A. Brooks | Afp | Getty Images Japanese convenience retailer Seven & i Holdings slashed its earnings forecasts and pressed ahead with restructuring plans that include spinning off non-core businesses into a standalone subsidiary. The company slashed its profit…

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2024-10-10

Tributes pour in from industry titans

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Business

Ratan Tata speaks during an interview. Pradeep Gaur | Mint | Getty Images Tributes from industry leaders, politicians and the public at large poured in for Ratan Tata, the former chairman of India’s Tata Sons, who passed away on Wednesday, aged 86. India’s Prime Minister Narendra Modi in a post on X called Tata “a visionary business leader, a…

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2024-09-29

Shigeru Ishiba wins LDP election, set to become Japan’s next prime minister

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Business

Shigeru Ishiba, Japan’s former defense minister, delivers his campaign speech for the Liberal Democratic Party’s (LDP) presidential election in Tokyo, Japan, on Thursday, Sept. 26, 2024.  Bloomberg | Bloomberg | Getty Images Former defense minister Shigeru Ishiba has won his fifth bid to become the leader of Japan’s ruling party on Friday, lining him up to become the country’s…

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2024-09-22

Indian ed-tech startup Physics Wallah bags $2.8 billion valuation with funding

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Business

Alakh Pandey (R), CEO of Physics Wallah, along with the company’s co-founder Prateek Maheshwari (L). Physics Wallah Indian education technology startup Physics Wallah announced on Friday that it had raised $210 million as it looks to expand its business, in part via acquisitions, amid troubles in the sector. The funding, led by Hornbill Capital, and involving Lightspeed Venture Partners,…

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2024-08-17

China’s central bank says local government debt risks are declining

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Business

Pan Gongsheng, governor of the People’s Bank of China (PBOC), during the Lujiazui Forum in Shanghai, China, on Wednesday, June 19, 2024.  Bloomberg | Bloomberg | Getty Images BEIJING — China’s financial risks have dropped, including from local government debt, People’s Bank of China Governor Pan Gongsheng said in state media interviews published late Thursday. Pan also said the…

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