The spate of cancellations in October marks a sharp reversal from a few months ago, when shipping lines commanded premium prices and booked record profits.
The carrier, controlled by India’s oldest conglomerate Tata Group, is in discussions with potential investors including private equity funds and sovereign wealth funds, and fundraising could be completed in the next few months.
Hong Kong will stick with its push to reopen to the world unless a dangerous new virus variant emerges, while stressing the financial hub has an obligation to protect mainland China from major COVID-19 outbreaks.
Tata Group is in talks with a Taiwanese supplier to Apple Inc. to establish an electronics manufacturing joint venture in India, seeking to assemble iPhones in the South Asian country.
India, believed by many to have the potential to become the next China, is finally making headway in the exports market as it broke into the top five suppliers of Christmas decorative items and t-shirts to the U.S.
Honda Motor Co. and South Korean battery maker LG Energy Solution Ltd. will spend $4.4 billion to build a new battery plant in the U.S. as the Japanese carmaker seeks to phase out fossil-fuel vehicles completely by 2040.
Cargo has turned out to be the difference maker for airlines navigating the pandemic. Just look at Korean Air, which has prospered largely because it expanded its substantial cargo business.
Apple is preparing to manufacture its new iPhone in India months earlier than it did previous models, because it wants to boost production outside China amid growing global tensions and supply chain disruptions in the country.
The latest supply chain news, analysis, trends and best practices for companies operating in Asia Pacific. The Asia Pacific region is the part of the world in or near the Western Pacific Ocean - including East Asia, South Asia, Southeast Asia, Australia and Oceania. Learn how businesses are optimizing supply chain and logistics performance in these regions - addressing a range of challenges such as rising labor costs, poor infrastructure, complex customs and trade laws, unstable political climates and government controlled exchange rates.
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