This article is an on-site version of the India Business Briefing newsletter. To receive it in your inbox regularly, sign up if you’re a premium subscriber, or upgrade your subscription here. Good morning. Let’s jump right into our top story for today, a legal ruling that will have an impact on future corporate acquisitions in India. Steel the deal In a shocking move on Friday, the Supreme Court struck down JSW Steel’s buyout of Bhushan Power & Steel — four years after it was deemed completed — and rejected the company’s…
Day: May 5, 2025
Southeast Asia’s climate-driven pest invasion threatens China’s food security, study finds
Migratory pests from mainland Southeast Asia, thriving under El Niño, are partially driving rice yield losses in southern China, a study led by Peking University has found. Advertisement The researchers said the new findings were crucial for ensuring food security in the region through collaborative, international pest control strategies. The scientists found that during El Niño years, warm, humid weather created favourable breeding conditions in the pest source region, while wind gusts helped them migrate to southern China. The team from Peking University, Chinese Academy of Sciences, Zhejiang University, Potsdam…
No quick fix for trade rift between China and US
Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world The writer is chief Asia economist at Morgan Stanley By now, it is abundantly clear that US-China trade has collapsed, as tariff rates are too prohibitive. The recognition of the extent of the disruption to bilateral trade could be an initial gateway towards starting negotiations. As talks progress, there could be room for a mutual agreement to gradually remove the tit-for-tat tariffs — the ones that were put…
With ‘instant commerce’, China’s first-world infrastructure faces third-world spending
A new battle in China’s e-commerce war has erupted in the form of “instant commerce”, a combination of online shopping and extremely fast delivery, as technology giants Alibaba Group Holding, JD.com and Meituan open a new phase of competition for consumers’ wallets. Advertisement Chinese consumers are set to be spoiled by new services offering “instant satisfaction” while shopping on China’s leading e-commerce platforms. Consumers in Beijing or Shanghai can order a cup of iced tea via a smartphone app and expect it on their doorstep within an hour. Even better,…
China touts Labor Day tourism surge, but netizens say otherwise
China reported a surge in the number of tourists and strong consumer activity during the five-day Labor Day holiday, but netizens have taken to Chinese social media to question the accuracy of the data, citing multiple economic pressures and a decline in exports. China’s Ministry of Transport data showed total cross-regional passenger traffic averaged 293 million trips per day, up 8 percent from a year ago, while sales of major retail and catering businesses were up 6.3 percent during the holiday, the state-run Global Times reported. “The twin boom in…
US House passes China bills on issues from economic espionage to human rights
The US House of Representatives intensified its legislative push against Beijing on Monday, advancing a slate of China-related bills targeting industrial espionage, export controls, national security threats and alleged human rights abuses. Advertisement At the same time, lawmakers moved to deepen US ties with Taiwan and protect Falun Gong practitioners. In a show of bipartisan consensus on China-related legislation, all bills were passed by voice vote. The bills had stalled in the Senate during the last Congress and must now win passage there, before they can head to the White…
China’s dying EV batteries, solar cells are powering a circular economy in new-energy era
One man’s waste is Ma Long’s treasure. Advertisement And in the new-energy era, his map leads to exhausted lithium-ion batteries – veritable troves of reusable resources that are supercharging profits at Ma’s company, a maker of solid-waste-recycling equipment in central China. Pricey components such as lithium – a silvery-white alkali metal aptly nicknamed “white gold” – along with other materials such as cobalt and nickel, hold their value beyond the life of the batteries powering China’s massive electric-vehicle (EV) industry. “There is huge potential in the business of new-energy waste,…
Homes destroyed after North Koreans balk at paying for fire trucks to put out blaze
A fire that broke out in an apartment complex in North Korea’s Sinuiju city spread to neighboring homes, destroying over 10 units, after residents hesitated to call for help due to the high costs of dispatching fire trucks, two sources inside the region told Radio Free Asia. Rather than contact the fire brigade, residents tried to put out the fire themselves after a group of school children accidentally set off the blaze around 1 p.m. on April 27, the sources told RFA on the condition of anonymity for fear of…
Malaysian flag gaffes expose how AI can inflame deep social divisions
Between US President Donald Trump’s April 2 volley of tariffs and Chinese President Xi Jinping’s three-country stop in Southeast Asia just two weeks later, most of the Asia-Pacific’s attention was captured by the implications of these contrasting developments. Advertisement But what happens on the ground in smaller countries offers a more interesting composite of local dynamics that can defy reductive geopolitical narratives. The recent controversy in Malaysia involving the publication of the country’s flag in a local Chinese-language newspaper during Xi’s trip to Kuala Lumpur is just such an example.…
Ford expects $1.5bn profit hit from Trump tariffs
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Ford said it expects a $1.5bn hit to this year’s operating profits due to Donald Trump’s tariffs, as the car industry continues to grapple with the implications of the US president’s trade policy. The Michigan carmaker, citing the uncertainty tied to the levies, on Monday also pulled the financial guidance it issued three months ago. Ford originally said it expected to earn an operating profit of between $7bn-$8.5bn for 2025.…