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

South-East Asia’s future looks prosperous but illiberal

THE young woman with the microphone cajoles, hectors and wheedles customers with the breathless enthusiasm of a livestock auctioneer at a county fair. She is standing behind a table stacked high with blue jeans; most of the milling crowd is dressed in lungyis, Myanmar’s skirt-like national dress. The fancy mall around them is anchored by a huge...

South Korea is losing faith in an elitist education system

Universital values “IF YOU don’t have the ability then blame your parents,” wrote Jung Yoo-ra on social media in 2014, after being accepted into a prestigious university. Her mother, it turns out, had gone to great lengths to secure a spot for her, inducing Ehwa Women’s University to alter its admissions policy in a manner tailor-made for...

Indonesian Islamists open a new front in their war on tolerance

CORNELIS, the 63-year-old governor of West Kalimantan, a province in Indonesian Borneo, is relaxing in jeans and a stained white vest at a table piled withkrupuk crackers and other local snacks. Portraits of the governor and his wife posing with prize-winning vegetables (both are keen gardeners) decorate the walls of the family home in Ngabang,...

Winning the war with IS in the Philippines, but losing the peace

THE Philippine army has been fighting for two full months to take back control of the southern city of Marawi from a violent and determined coalition of jihadist groups. The battle for Marawi, a mainly Muslim city of 200,000 with a lush lakeside setting and a proud sense of its culture, erupted when the government got word that Isnilon Hapilon...

No one is well-served by sexism in Japan

AT FIRST glance, Sora Tob Sakana is aimed squarely at the pre-teen market. After all, the pop group’s four members are 14- to 16-year-old girls who sport ponytails and cutesy frilly dresses and pump out bubblegum tunes accompanied by wobbly dancing. Yet at a festival of similar “idol” bands in Yokohoma on July 9th, the fans were mostly single...

Legal

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...

UK government urged to avoid data transfers 'cliff edge' at point of Brexit

In a new report, a House of Lords committee warned that trade and security could be impacted if the flow of data is disrupted at the point of Brexit.To enable data to flow between the UK and EU post-Brexit, the EU Home Affairs Sub-Committee urged the UK government to seek a so-called 'adequacy' decision from the European Commission, which would recognise...

Deals

Galaxy Group expands global start-up service network with US$ 30 million investment in IP Group

Beijing Galaxy World Group (Galaxy Group) announced a US$ 30 million strategic investment in IP Group (LSE: IPO), a well-known British developer of intellectual property-based business. The payment and settlement of relevant shares will be completed no later than 18 August 2017. Henceforth Galaxy Group will look to cooperate with IP Group in various...

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...

Acq Lite

EXO's 'The War' tops Billboard's World Albums chart

SEOUL, South Korea, July 26 (UPI) -- K-pop boy band EXO's latest album rose to the top of Billboard's World Albums chart, according to the music publication Wednesday."The War," EXO's fourth full-length studio album, was ranked No. 1 on the chart, becoming the most sold international album in the United States for the week of Aug. 5, according to Billboard's...

Amber Rose says she was 'heartbroken' after Kanye West split

July 26 (UPI) --Amber Rose says her split from ex-boyfriend Kanye West left her "heartbroken."The 33-year-old television personality said Tuesday on Complex's Everyday Struggle that she was in a dark place following her breakup with the "Famous" rapper."I see this a lot on the internet: Amber's going to hurt him," she said of new boyfriend 21 Savage....

Ashley Tisdale teams up with Lea Michele to cover 'Dancing on My Own'

July 26 (UPI) --Ashley Tisdale and Lea Michele came together to cover Robyn's 2010 hit Dancing on My Own on YouTube.The video which was posted on Tuesday as part of Tisdale's ongoing Music Sessions series, features the High School Musical and Glee stars sitting side-by-side on a couch as they perform the song alongside Tisdale's husband Christopher...

'Kenan & Kel' alum Kel Mitchell welcomes third child

July 26 (UPI) -- Former Kenan & Kel star Kel Mitchell is now a dad of three.The 38-year-old actor and wife Asia Lee announced daughter Wisdom's birth on the 20th anniversary of Good Burger's release on Tuesday."Fun reading all the post for the 20th anniversary of Good Burger today thx for the love! We have also been celebrating here at the Mitchell...

Pink's son takes first bike ride with dad Carey Hart

July 26 (UPI) -- Pink's son had dad Carey Hart to keep him safe during his very first bike ride this week.Pink shared a photo Monday of 7-month-old son Jameson smiling as his dad, retired freestyle motocross star Carey Hart, took him for a ride."Baby's first bike ride #stoked #likefatherlikeson #mybabydaddyisthebest #safetyfirst," the 37-year-old singer...