Author: Deal Street Asia Online News

VC veteran leaves Qiming Ventures to launch new fund He…

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to… Continue reading VC veteran leaves Qiming Ventures to launch new fund He…

Indonesia’s state airline Garuda hangs by a financial thread

Workers clean the body of a Garuda Indonesia Airbus A320 aircraft inside Hangar 4 of PT Garuda Maintenance Facility (GMF) Aero Asia at Soekarno-Hatta airport in Jakarta. Premium Indonesia’s government is under mounting pressure to resolve the financial crisis at the nation’s flagship airline, which faces an existential threat from COVID-19 after years of chaotic… Continue reading Indonesia’s state airline Garuda hangs by a financial thread

Apple hit with antitrust case in India over in-app payments issues

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

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