NEW DELHI - China's Alibaba Group has put on hold plans to invest in Indian companies, two sources aware of the plans told Reuters, amid souring business relations and rising political tension between the two nations after a clash on their Himalayan border.
Hitting the brakes could slow fundraising plans for some of Alibaba's investee companies in India, which include payments platform Paytm, restaurant aggregator and food delivery service Zomato, and e-grocer BigBasket.In its IPO filing, Ant said a change in foreign investment rules in India had led to a"further evaluation of the timing"of its additional investment in Zomato.
However, a border clash in June, in which 20 Indian soldiers were killed, escalated tensions, and India imposed stricter curbs on Chinese goods and businesses amid calls for boycotts.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Exclusive: Alibaba puts India investment plan on hold amid China tensions, sources sayChina's Alibaba Group has put on hold plans to invest in Indian companies, two sources aware of the plans told Reuters, amid souring business ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Alibaba puts India investment plan on hold amid China tensions, sources sayChina's Alibaba Group has put on hold plans to invest in Indian companies, two sources aware of the plans told Reuters, amid souring business ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Exclusive: Alibaba puts India investment plan on hold amid China tensions - sourcesChina's Alibaba Group has put on hold plans to invest in Indian companies, two sources aware of the plans told Reuters, amid souring business ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Commentary: Why doesn't India have as many tech unicorns as China does?While the Indian IT sector has successfully created impressive tech clusters and thousands of jobs, growth has mainly come from providing cheaper ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China will give priority to providing Covid-19 vaccines to Mekong River countries: China DailyIn its editorial, the paper says that China's investment in Mekong River countries - Cambodia, Laos, Myanmar, Thailand and Vietnam - has exceeded US$45 billion ($61 billion).. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Defying China, Philippines says to continue patrolling Spratlys in South China SeaMANILA - The Philippines will continue patrolling the Spratlys in the South China Sea, ignoring a warning from China to stop 'illegal provocations' in waters around the disputed island chain.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »