(Reuters) – Chinese e-commerce giant JD.com Inc on Sunday said that its subsidiary JD Logistics Inc has agreed to buy domestic courier Deppon Logistics Co Ltd. Under the deal, JD Logistics will acquire 99.99% equity stake in Deppon Holdco for a total consideration of about 9 billion yuan ($1.42 billion). Deppon Holdco owns a total…
MUMBAI (Reuters) – Indian police briefly detained Vijay Shekhar Sharma, the founder and CEO of the fintech firm Paytm in New Delhi in February for a minor road accident, local media said on Sunday. A case was registered against Sharma by the New Delhi police for “rashness and negligent driving” said Reuters TV partner ANI….
CAPE TOWN (Reuters) -South Africa’s civil aviation regulator grounded Comair’s planes indefinitely on Sunday, saying the airline had not adequately addressed safety issues, in a move that also affects passengers of low-cost airline Kulula and British Airways. A spokesperson for the South African Civil Aviation Authority (SACAA) said it had extended a 24-hour precautionary suspension…
(This March 11 story corrects to say “at least six independent stores” instead of “many” stores; adds details on Nike’s March 3 statement about suspension of operations in Russia) By Richa Naidu LONDON (Reuters) – At least six independent Nike stores in Russia were open on Friday afternoon, according to checks made by Reuters, more…
(Reuters) – Billionaire investor Steve Cohen’s Point72 Asset Management is pulling out the $750 million it invested in Melvin Capital Management, Bloomberg News reported https://bloom.bg/3whzrgL on Saturday. Point72 will soon start redeeming the money in portions over time, the report said, citing people familiar with the matter. Both Melvin Capital, founded by Gabe Plotkin, and…
(Reuters) – Russia’s central bank on Saturday said it has decided not to reopen stock market trading on the Moscow Exchange from March 14-18, with the exception of some non-open-market transactions an transactions using the SPFI payment system. It said the foreign exchange market, money market and repo market would open at 0700 GMT on…
(Reuters) – Russia’s trade and finance ministries will widen the criteria for systematically important firms to include companies from the electronics sector, the TASS news agency quoted Deputy Prime Minister Dmitry Chernyshenko as saying on Saturday. Russia’s government on Friday proposed a raft of support measures, including some for suppliers to state-owned companies and the…
LVIV, Ukraine (Reuters) – The Ukrainian president’s economic adviser on Saturday played down the risks of the hryvnia devaluating further, despite the Russian invasion of the country which began on Feb. 24. Oleg Ustenko told local media that Ukraine’s budget was fully funded and that the country’s foreign exchange reserves of $27.5 billion would be…
(Reuters) – Russian natural gas company Gazprom said on Saturday it was continuing gas shipments via Ukraine at an unchanged volume of 109.5 million cubic metres a day. (Reporting by Reuters; Editing by Alexander Smith)
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s Central Bank tightened trade restrictions on Saturday, ordering exporters to repatriate foreign exchange earnings within 180 days of transactions in a bid to improve country’s depleting foreign exchange reserves. Sri Lanka is tackling its worst financial crisis in over a decade, struggling to pay for critical imports…
