U.S. stocks closed the Monday session at record highs ahead of Asia’s Tuesday trading day as investors took bets on a tax plan that would overhaul the U.S. tax system. Tax reform was the main driving force for optimism in markets stateside. Included in the finalized version of their tax planis a provision to cut […]

India’s ruling Bharatiya Janata Party (BJP) has seen its majority squeezed in a local election in Prime Minister Narendra Modi‘s home state of Gujarat. The vote, which took place Friday, revealed that the BJP had claimed 99 seats in the 182 seat-strong legislative assembly. The BJP had targeted 150 positions, but saw its previously held […]

Toyota Motor on Monday said it will market more than 10 all-electric vehicle (EV) models globally in the early 2020s, and that investment to develop their batteries is likely to exceed $13 billion (1.5 trillion yen) through 2030. Setting out EV sales goals, the world’s second-biggest automaker by sales after Volkswagen said it needed to […]

Chinese internet giant Tencent Holdings Ltd said on Monday it would lead an $863 million investment in apparel platform Vipshop Holdings Ltd , upping its rivalry in retail with Alibaba Group Holding Ltd. Tencent will invest $604 million in exchange for a 7 percent stake in Vipshop, while e-commerce firm JD.com Inc – a long-standing […]

With just two weeks to go before the new year begins, many fund managers around the world seem to agree on one thing: The rally in Asian stocks will continue into 2018. Strength in the equity market, they said, will be supported by regional economies growing strongly and solid company fundamentals that will drive earnings […]

China‘s electric vehicle start-up Nio launched its first mass-produced model over the weekend, in a home market marked by competition with companies such as Tesla. The ES8, which starts at 448,000 Chinese yuan ($67,765) is half the starting price of Tesla’s 836,000 yuan ($126,470) Model X in China. Nio also enjoys the advantage of Beijing’s […]

South Korea’s trade ministry said on Monday it had reported to parliament a plan to renegotiate the 2012 free trade agreement (FTA) with the United States after President Donald Trump threatened earlier this year to scrap the accord unless it was revised. The trade ministry said in a statement that Monday’s report completes South Korea’s […]

U.S. stocks rose and the dollar firmed ahead of Asia’s Monday trading day on investor optimism that a plan to reduce corporate taxes would be passed stateside. Republicans unveiled their final tax plan on Friday as two holdout GOP senators indicated they would support the tax bill after compromises were made. Among the provisions that […]

Ride-hailing start-up Go-Jek has acquired three financial technology (fintech) start-ups as it looks to dominate Indonesia’s digital payments space. Go-Jek said Friday it had bought offline payments service Kartuku, payment gateway Midtrans and saving and lending firm Mapan for undisclosed amounts. The firm, which began life as a motorbike and taxi business, has expanded its […]

Beijing is ramping up construction work in the South China Sea despite agreeing to establish a code of conduct for the disputed region, new research has showed. Research from the Asia Maritime Transparency Initiative, part of U.S. think tank the Center for Strategic and International Studies, revealed China has built several facilities around the Spratly […]