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Ride-hailing giant Didi Chuxing's planned $4 billion New York debut will supercharge Chinese listings in the United States on the back of an all-time high in the first half the year, despite political sparring between the two countries. ....
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Indian shares opened lower on Wednesday, weighed down by consumer goods giant ITC Ltd (ITC.NS) as its profit slipped in the March quarter, while broader Asian stocks edged higher after data showed U.S. manufacturing activity rose in May. ....
Ehab Farouk 1/2 A man smokes a Cleopatra cigarette, produced by Eastern Company SAE, at a cafe in Cairo, Egypt October 23, 2018. REUTERS/Mohamed Abd El Ghany/File Photo Read More Egyptian authorities have presented an amended invitation for tobacco companies to bid for a licence to manufacture cigarettes, a document seen by Reuters showed, after four firms complained the terms were too narrow. The license could end a decades-old monopoly by the state-controlled Eastern Company (EAST.CA) which has a 70% market share. The cigarette industry contributes more than 60 billion Egyptian pounds ($3.8 billion) to government coffers yearly, according tobacco firms. Under the new terms, sent to tobacco companies on June 1, the winning bidder should agree to produce 1 billion cigarettes per year instead of 15 billion per year. ....
Indian shares ended little changed for a second straight session on Wednesday as investors refrained from making big bets due to concerns over high valuations following a recent rally. ....