Flipkart, India's largest online retailer, on Saturday said it had raised funding worth $700 million, as it tries to compete with Amazon, which is rapidly scaling up operations in the country.
Investors
Ruble rebounds sharply from lows as exporters sell dollars
Russia's ruble rose on Friday to its strongest levels in more than three weeks, in a sharp rebound from its recent all-time lows, after the government ordered exporters to sell some of their hard currency revenues.
JPMorgan fund in talks on taking $200 million stake in India's SpiceJet
A fund managed by JPMorgan Chase (JPM.N) is in advanced talks to partner with Indian carrier SpiceJet Ltd's (SPJT.BO) co-founder for a planned $200 million investment into the cash-strapped airline, the Economic Times reported on Thursday, citing unnamed sources with knowledge of the discussions.
Japanese stocks, dollar up as robust U.S. GDP lifts holiday mood
Japanese stocks rallied and the dollar stood tall on Wednesday thanks to surprisingly robust U.S. economic growth, helping investors head into the Christmas holidays in a more relaxed mood after the global markets turbulence of the past two weeks.
Xiaomi raising over $1 billion from investors including GIC
China's Xiaomi [XTC.UL] is raising over $1 billion from investors including Singapore sovereign wealth fund GIC that would value the smartphone maker at over $45 billion, a person familiar with the deal said.
Latest News
World markets are ending their last full week of 2014 on a high, as Wall Street made its biggest two-day advance since late 2011 and European shares headed for their strongest week of the year.
The ruble weakened against the dollar and euro on Thursday with traders saying President Vladimir Putin had so far offered no concrete measures to pull Russia out of a crisis at his end-of-year news conference.
Asian share markets rallied on Thursday after U.S. stocks enjoyed their strongest session this year when the Federal Reserve sounded upbeat on the economy and promised to be patient in removing policy stimulus.
The S&P 500 scored its best day since October 2013 on Wednesday as the Federal Reserve gave an upbeat assessment of the economy and said it would take a patient approach toward lifting interest rates.
U.S. stocks fell for a third day in a volatile session Tuesday, led by declines in consumer discretionary and technology shares, while another drop in the Russian rouble added to worries about the global economy.
Sliding oil prices and a downbeat China factory survey weighed on Asian shares on Tuesday, while the ruble jumped against the dollar after Russia sharply increased its benchmark interest rate in a bid to halt a collapse in its currency.
Chinese financial firms are targeting purchases of distressed banking assets coming on the market in Europe, having been urged by Beijing to expand their reach beyond emerging markets.
The S&P 500 ended nearly flat on Tuesday as concerns about global weakness and political turmoil were offset by gains in technology and energy shares.
U.S. stocks dipped on Monday, after soft data in China and Japan raised global growth concerns, while a further drop in oil prices weighed on energy shares.
