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South and Southeast Asia

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  • Ranbaxy filed "grossly inadequate" applications seeking approval for its drugs and deceived the FDA into granting approvals and giving the company market exclusivity, the class action lawsuit asserts. The FDA has banned import of drugs from all of Ranbaxy's India- based plants under a wider scrutiny of the country's $15 billion pharmaceutical industry,...

  • TEHRAN, Iran— In an unusual move by Tehran's mayor, hundreds of copies of famous artworks— both of world masters and Iranian artists— have been plastered on some 1,500 billboards across the city, transforming the Iranian capital into a gigantic, open-air exhibition. "It says Iranians are art lovers, too," says the 57- year-old Tehran businessman.

  • WASHINGTON/ NEW YORK, May 14- Major banks wary of heavy U.S. penalties will be reluctant to restore ties with Iran even if sanctions are lifted in a possible nuclear deal, bank executives and advisers say, likely denting Iran's ambition to attract foreign investment to revive its crippled economy. After years of being frozen out of the global banking system and...

  • MANILA, Philippines— Police will open a criminal investigation into a Philippine factory fire that killed at least 72 workers who became trapped in the building's second floor, where iron grills on windows prevented their escape, a victims' relative said Thursday. All bodies were believed to have been retrieved from the gutted two-story Kentex Manufacturing...

  • India's Modi meets Xi on China visit amid warming ties Thursday, 14 May 2015 | 12:32 AM ET

    China is looking to India as a market for its increasingly high-tech goods, from high-speed trains to nuclear power plants, while India is keen to attract Chinese investment in manufacturing and infrastructure. With a slowing economy, excess production capacity and nearly $4 trillion in foreign currency reserves, China is ready to satisfy India's estimated...

  • BENGALURU, India, May 14- After ping pong tables, motivational posters and casual dress codes, India's tech start-ups are following Silicon Valley's lead and embracing the "fail fast" culture credited with fueling creativity and success in the United States. But that nascent acceptance, fueled by returning engineers and billions of dollars in venture fund...

  • Nelson Peltz, who runs the $11 billion Trian Management hedge fund, was dealt a rare setback when investors, including pension fund Calpers, sided with DuPont CEO Ellen Kullman to rebuff his attempt to win four board seats and press the company into breaking itself up. For example, Peltz's partner Ed Garden joined the Bank of New York Mellon board last year, and...

  • Connecticut fund executive faces new SEC fraud charges Wednesday, 13 May 2015 | 4:03 PM ET

    The SEC said Ahmed induced his Greenwich, Connecticut- based firm into overpaying for investments in two Asian e-commerce companies, and pocketing $20 million for himself. The SEC wants Ahmed to give up illegal gains and pay a civil fine. The SEC brought related civil charges.

  • CHARIKOT, Nepal, May 13- A day-long search failed to find a missing U.S. Marine helicopter on Wednesday, a day after the second Nepal earthquake in less than three weeks killed scores and triggered landslides across the Himalayan nation. Nepal is still reeling from last month's devastating quake that killed more than 8,000 people and injured close to 20,000..

  • This Asian country has the world’s best students Wednesday, 13 May 2015 | 10:46 AM ET

    Asian countries topped the Organisation for Economic Co-operation and Development (OECD)'s ranking of school performance in 76 countries.

  • LONDON, May 13- The London Metal Exchange has announced another change in its warehousing rules to force a faster reduction in the load-out queues that have caused so much controversy in the aluminum market. Its new regime of linking load-in to load-out rates, LILO for short, is now in force, albeit after a near one-year delay caused by a failed legal challenge from...

  • NEW DELHI/ MUMBAI, May 13- A surprise delay to India's first nationwide sales tax marks one of the most painful setbacks suffered by Prime Minister Narendra Modi's government as it nears the end of a first year in power, with markets falling and farmers braced for a poor monsoon. The introduction of the goods and service tax would constitute India's biggest tax...

  • Death toll in Philippine slipper factory fire rises to 45 Wednesday, 13 May 2015 | 5:29 AM ET

    MANILA, Philippines— A fire gutted a rubber slipper factory in a suburb of the Philippine capital Wednesday, possibly killing dozens of workers who ran to the second floor in hopes of escaping only to become trapped by the smoky inferno, officials said. At least three bodies have been recovered and fire officials found no survivors after the fire was put under...

  • CHARIKOT, Nepal, May 13- Hundreds of Nepali troops were searching for a missing U.S. Marines helicopter with eight people on board on Wednesday, a day after the second powerful earthquake in less than three weeks killed scores and sent panicked residents into the street. A Nepali military official said it appeared the helicopter might have come down in one of the...

  • KATHMANDU, May 13- Nepali and U.S. troops were scouring the area worst hit by a second large earthquake for a missing U.S. Home ministry official Laxmi Prasad Dhakal said at least 65 people had been killed in Tuesday's 7.3 magnitude quake, which destroyed swaths of housing in the district of Dolakha east of the capital, Kathmandu. That is also where the Marine Corps...

  • DIARY- Emerging Markets Economic Events to May 26 Tuesday, 12 May 2015 | 8:02 PM ET

    LONDON- Brazilian Finance Minister Joaquin Levy visits the United Kingdom and holds a press conference- 1645 GMT. SARAJEVO- Sarajevo Business Forum 2015. WASHINGTON- European Central Bank President Mario Draghi will give the Michel Camdessus Central Banking Lecture at the IMF- 0800 GMT.

  • *Nepal yet to recover from last month's disaster. CHAUTARA, Nepal, May 12- A second powerful earthquake in less than three weeks spread panic in Nepal on Tuesday, bringing down buildings weakened by the first disaster and killing at least 66 people, including 17 in neighbouring India and one in Chinese Tibet. The new 7.3 magnitude quake was centred 76 km east of the...

  • Nepalis relive terror as new earthquake strikes Tuesday, 12 May 2015 | 11:17 AM ET

    SANGACHOWK, Nepal May 12- Ashok Parajuli watched his house in Sangachowk village, about three hours by road from Nepal's capital Kathmandu, slide down a hill on Tuesday, as a 7.3 earthquake hit the Himalayan nation just weeks after another major quake had killed thousands. More than 8,000 people died and hundreds of thousands of buildings were destroyed by last...

  • Fresh Nepal earthquake kills dozens, triggers panic Tuesday, 12 May 2015 | 11:00 AM ET

    A 7.3 magnitude earthquake killed at least 37 people and spread panic in Nepal, weeks after a devastating quake killed more than 8,000 people.

  • *New quake causes panic across Nepal. SANGACHOWK, Nepal, May 12- A 7.3 magnitude earthquake killed at least 41 people and spread panic in Nepal on Tuesday, bringing down buildings already weakened by a devastating tremor less than three weeks ago and unleashing landslides in Himalayan valleys near Mount Everest. The new earthquake was centred 76 km east of the...