Apple Inc is facing an antitrust challenge in India for allegedly abusing its dominant position in the apps market by forcing developers to use its proprietary in-app purchase system, according to a source and documents seen by Reuters. The allegations are similar to a case Apple faces in the European Union, where regulators last year started an investigation… Continue reading Apple hit with antitrust case in India over in-app payments issues
Author: Deal Street Asia Online News
China Digest: Vertilite, Yunyou Freight in funding news …
Semiconductor firm Vertilite has pocketed “tens of millions of US dollars” in a Series C3 round of financing, while Tencent-backed logistics provider Yunyou Freight has raised a Series B+ round. Summitview leads funding in Vertilite Semiconductor firm Vertilite said on Thursday that it has pocketed “tens of millions of US dollars” in a Series C3… Continue reading China Digest: Vertilite, Yunyou Freight in funding news …
Binance may have breached rules, says Singapore central bank …
Singapore central bank said on Thursday that Binance, one of the world’s largest cryptocurrency exchanges by trading volume, could be in breach of local laws and should stop providing payment services to the city-state’s residents. “MAS has reviewed Binance.com’s operations and is of the view that Binance, the operator of Binance.com, may be in breach of the Payment Services… Continue reading Binance may have breached rules, says Singapore central bank …
India: Government seeks bids from legal advisors for LIC’s IPO a second time
However, the RFP did not receive sufficient response. The Department of Investment and Public Asset Management (DIPAM) on Thursday came out with the second RFP for appointing legal firms, who have to bid in consortium with an international firm, and the last date for bidding is September 16. “Considering insufficient demand received in the first… Continue reading India: Government seeks bids from legal advisors for LIC’s IPO a second time
Australia, Malaysia, SG, South Africa to trial cross border payments with digital currencies
Central banks in Australia, Singapore, Malaysia and South Africa will conduct a cross border payments trial using different central bank digital currencies (CBDC) to assess if this allows transactions to be settled more cheaply and easily, the banks said on Thursday. Many governments and central banks around the world are exploring the use of CBDCs, which are digital forms… Continue reading Australia, Malaysia, SG, South Africa to trial cross border payments with digital currencies
BNP Paribas in talks to partner AgBank’s unit for Chinese wealth management JV
BNP Paribas‘ asset management arm is in talks to form a wealth management venture with a unit of Agricultural Bank of China (AgBank), sources said, as the French firm pursues a bigger slice of China’s $19 trillion market. China further deregulated its financial markets in 2019, allowing foreign asset managers to form majority-owned wealth management ventures… Continue reading BNP Paribas in talks to partner AgBank’s unit for Chinese wealth management JV
Japan’s OK Corp to bid for Kansai Super Market, challenging H2O Retailing integration
Japanese supermarket operator OK Corp will launch a counter bid for Kansai Super Market Ltd., which has already agreed to integrate with H2O Retailing, the Nikkei reported on Thursday. OK Corp will attempt to win support from shareholders to oppose the integration at a shareholders meeting scheduled for Oct. 29, when a share exchange between Kansai Super Market and H2O Retailing… Continue reading Japan’s OK Corp to bid for Kansai Super Market, challenging H2O Retailing integration
India Digest: AppsForBharat raises $10m; Teachmint eyes $70m funding …
AppsForBharat has raised $10 million in its Series A funding round led by Elevation Capital. Separately, online teaching platform Teachmint is reportedly in talks to raise $70 million in a new funding round. AppsForBharat raises $10m led by Elevation AppsForBharat, a tech company focused on building apps to service the spiritual and devotional needs of… Continue reading India Digest: AppsForBharat raises $10m; Teachmint eyes $70m funding …
SGX halves minimum m-cap requirement for SPACs to $111m in final framework …
Premium The Singapore Exchange (SGX) is allowing Special Purpose Acquisition Companies (SPACs) to list at a lower minimum value of S$150 million ($111 million), compared with S$300 million suggested in the initial SPAC framework, according to an announcement. This confirms a report first released by DealStreetAsia last month. Go to Source
China’s Alibaba Group to invest $15.5b towards “common prosperity”
China’s Alibaba Group will invest 100 billion yuan ($15.5 billion) by 2025 in support of “common prosperity”, it said, becoming the latest corporate giant to pledge support for the initiative driven by President Xi Jinping. Beijing has been encouraging companies to share wealth as part of the effort to ease inequality in the world’s second-largest… Continue reading China’s Alibaba Group to invest $15.5b towards “common prosperity”