Sri Lankan shares closed lower on Tuesday, dragged down by losses in financial and consumer staple stocks, although gains in communication services capped further decline.
It started out as strictly business: a huge private contract for one of the world’s most advanced undersea fiber-optic cables. It became a trophy in a growing proxy war between the United States and China over technologies that could determine who achieves economic and military.
Buyout funds are set to extend a record spending spree in Asia to the rest of the year but they will be mostly seeking deals outside China, where concerns about the economy are likely to outweigh any easing of a regulatory crackdown, dealmakers said.
Uganda's largest telecommunications firm MTN Uganda said on Tuesday its first-quarter pretax profits jumped by a fifth from the same period of last year, partly boosted by higher data sales.
Funding Societies, a Southeast Asian digital financing platform, has raised $144 million equity in a funding round led by SoftBank Group Corp's SoftBank Vision Fund 2, as it expands in one of the fastest growing digital markets.