Prime Minister Narendra Modi recruited executives from the private sector to head two of the biggest state-owned banks, making it the first such appointments in a wide-range reform strategy to challenge the dominant but often inefficient lenders backed by the government.
Asia/Pacific
Shanghai Stock Index Reverses its Loss while US, European, and other Asian Markets were Down
China's main Shanghai stock index finish higher Wednesday, but other stock markets were mostly lower as investors are anxious about the volatile Chinese market.
Volatile Chinese markets drive nervous investors to offload
The Chinese stock market is registering a volatile trading pattern as investors became nervous about the future course of the market. The slowdown in the dragon country's economy growth has become a cause of concern for the investors.
Toshiba wants new blood to lead its board; Interim president stays
Toshiba Corp has restructured its board of directors, getting mostly people from outside the company, including three former chiefs of major Japanese companies.
Tianjin blasts estimated to $1.5 billion in insurance claims
Due to a series of explosions leaving hundreds of people death and others injured, while some are still missing, China is about to start a wave of insurance claims.
Latest News
Nestle finds relief when the Bombay High Court on Thursday lifts the food safety regulator's order of a nationwide ban on the sale Nestle India's famous 2-minute Maggi Noodles.
Though China's growth rate is slowing down, the world's second-largest economy can bounce back to regain the momentum and manage the risks involved, observes International Monetary Fund (IMF).
In a bid to penetrate the fifth largest auto market in the world, Ford Motor Co will be using the new engineering strategy it learned from India, which lets them develop compact model through low-cost production.
Foxconn, an electronic company in Taiwan with trade name Hon Hai Precision Co. Ltd., signed a memorandum of understanding with the government of India to invest $5B in manufacturing, research and development and a smart city.
Chinese exports tumbled 8.3 percent in July, their biggest drop in four months and far worse than expected, reinforcing expectations that Beijing will be forced to roll out more stimulus to support the world's second-largest economy.
China's Anbang Insurance Group Co is bidding to buy Japanese property asset manager Simplex Investment Advisors, four people with knowledge of the bid said, in a deal that could top $1 billion.
Lens Technology is a $7.2B worth glass screen business in China. The company provides glass screens to top labels like Samsung, Windows and Apple and had made a public offer in March. It is owned and founded by Zhou Qunfei, the richest self-made woman in China who used to work as a factory worker.
Downward pressure on China's economy will persist in the second half of the year as growth in infrastructure spending and exports is unlikely to pick up, a senior central bank official was quoted as saying.
Nestle India Ltd will focus on growing its dairy, coffee and confectionary businesses, its new boss said, as the company battles to bring back its popular Maggi noodles that were pulled from shelves over safety concerns.
