It's a race for Toshiba Medical Unit between Canon, Fujifilm Holdings, Konica Minolta and Permira Holdings. Nikkei said Canon has the highest bid amounting to $6.2 billion. Whoever the winner is, will be decided on Wednesday.
Asia/Pacific
Citigroup sets up new group for rich investors
Citigroup has established a new asset management group to offer varied solutions and services to richest investors across the world. The new global asset management group will function within investment banking business and it'll bring several segments together.
Japan Will Promote Wine-Tourism Industry to Revive Economy in Disaster Zone
As Japan tried to revive economy in northeastern area after devastating tsunami and earthquake, winery is considered a good solution. Winery is pioneered in Miyagi prefecture to boost economy in disaster zone.
Silicon Valley Accelerator 500 Startups Allocated $10 Million Fund for Vietnam Startups
500 Startups is seeing a great potential in Vietnam, where more than half of its population are below the age of 30 and most adults are using smartphones. The Silicon Valley-based accelerator is preparing a $10 million investment fund dedicated for Vietnam startups.
Chinese Venture Funds Grows Up To $338 Billion, Appear As The World’s Biggest Pot of Fund
The state backed venture funds of China have raised around ¥1.5 trillion ($231 billion) during 2015. The local fund managers are working to collect another ¥2 trillion which seems to be impossible to handle. Shortage of skilled fund managers and eligible startups has been analyzed as the major hurdles in managing such huge funds.
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Brazilian iron ore miner Vale and Australian miner Fortescue, both have reduced their debt burdens significantly through disposing less prospective assets. Under such situations, news for tying up with each other seems to be unusual. But analysts observe the move as highly strategic to cope up with the market situation.
Gree, the largest Chinese air conditioner maker has been witnessing sluggish growth in its home appliance business. The home appliance manufacturer has announced on Monday acquiring electric vehicle manufacturing company Yinlong New Energy Co. Through this acquisition, another giant steps into the emerging electric car market.
Uber Breathalysers or also known as 'Alco Booth' are being installed in Mumbai pubs and clubs. This is a move from the Mumbai police and Uber to lessen the crime and accident rate due to drunk driving. If the drinker reached the allowable limit, Uber will book him a ride home.
Australian economy was picking up pace during the fourth quarter. The commodity-based economy witnessed an annualized growth rate of three percent, fastest in two years, as against the forecast of 2.5 percent.
China is targeting seven percent gross domestic product (GDP) growth rate for 2016. The Chinese government is keen on real growth prospects over restructuring exercise this year, while avoiding inflating debt or asset bubbles.
PSE has been seeking comments and suggestions on its proposed law for transactions of DDS. The procured comments and suggestions will be evaluated while drafting the rule, aiming to reflect market demands. Comments and suggestions may be sent up to March 22.
Israeli fintech hub initiative is receiving $2 million investments from Chinese venture capital firm Pando Group. The partnership is expected to build the bridge between Israel companies and the Asian markets.
Islamic Finance is catching up among non-Islamic markets also. Economists and finance experts say that Islamic Finance is the need of the hour for the global economy in the wake of sluggish markets and looming uncertainty. Islamic finance assets globally are expected to be $1.8 trillion by 2020.
Egyptian-Chinese industrial zone in Ain Sokhna may attract $5 billion investments. About 100 companies are expected to set up their operations in the zone paving the way for creation of employment opportunities for about 30,000 people.
