FRANK APPEL  The Deutsche Post AG CEO says Indian companies have until now set up warehouses in all states to avoid tax burdens. The new tax reform may realign the needs of local companies toward larger and fewer mother warehouses. Picture: BLOOMBERG
FRANK APPEL The Deutsche Post AG CEO says Indian companies have until now set up warehouses in all states to avoid tax burdens. The new tax reform may realign the needs of local companies toward larger and fewer mother warehouses. Picture: BLOOMBERG

Deutsche Post DHL Group will invest US$268m in India by 2020 to expand its logistics business and tap demand as the south Asian nation introduces a national sales tax that is set to boost movement of freight. The goods and services tax will help create bigger distribution centres, Deutsche Post AG CEO Frank Appel said in an interview in Mumbai. Bloomberg

Sony shares surge after earnings report

Sony Corp shares jumped the most in almost three months after the company’s better-than-projected preliminary earnings boosted analyst confidence in its ability to hit the highest profit levels in almost two decades. The Tokyo-based company rose as much as 4.6% in early Tokyo trading on Monday, headed for its biggest jump since February 3. Sony reported preliminary operating profit of ¥285bn for the fiscal year through March 2017, 19% higher than its previous forecast. It also said net income would be about ¥73bn, more than twice the previous forecast. Bloomberg

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