Author: Deal Street Asia Online News

Bitcoin faces worst weekly slide in a year on Mt. Gox’s repayment fears

Bitcoin was set for its biggest weekly fall in nearly a year on Friday, as traders fretted over the likely dumping of tokens from defunct Japanese exchange Mt. Gox and further selling by leveraged players after the cryptocurrency’s strong run. The price of the world’s largest cryptocurrency slid as much as 8% on the day… Continue reading Bitcoin faces worst weekly slide in a year on Mt. Gox’s repayment fears

BYD’s deep discounting on EVs triggers backlash in Thailand

Thailand’s consumer protection agency has received about 70 complaints since initiating a probe into aggressive discounting by BYD dealers that has left some buyers feeling they overpaid for their Chinese electric vehicles. Prime Minister Srettha Thavisin told BYD Chief Executive Wang Chuanfu, who was in Thailand to mark the opening of its first Southeast Asian… Continue reading BYD’s deep discounting on EVs triggers backlash in Thailand

Asia Digest: Eureka Acquisition raises $50m in US IPO; Saison International invests $14m in two Mongolian banksEureka offered 5 million units at $10 a…

Blank cheque firm Eureka Acquisition has raised $50 million in its initial public offering in the US while Saison International has disbursed loans to two Mongolian banks. Asia-focused SPAC Eureka Acquisition raises $50m in US IPO Eureka Acquisition, a special purpose acquisition company (SPAC) that targets businesses in Asia, including China, has raised $50 million… Continue reading Asia Digest: Eureka Acquisition raises $50m in US IPO; Saison International invests $14m in two Mongolian banksEureka offered 5 million units at $10 a…

SoftBank said to have held talks with banks for energy project funding

Japanese technology investor SoftBank Group has recently talked with banks about borrowing money to invest up to $10 billion in energy-related projects, The Information reported on Thursday. The group could secure the capital for power-related investments by securing bank loans and tapping other investors, the report added, citing a person with direct knowledge of the… Continue reading SoftBank said to have held talks with banks for energy project funding

Foxconn gets licence to invest $551m more in Vietnam

Foxconn Singapore has been awarded a licence to invest $551 million in two projects to produce smart entertainment products and smart-system equipment in Vietnam’s northern province of Quang Ninh, state media reported. Foxconn, the world’s largest contract electronics maker and assembler, did not immediately respond to a request for comment. The company already has major… Continue reading Foxconn gets licence to invest $551m more in Vietnam

China-built EVs hit with duties in biggest EU trade case yetThere is a four-month window during which the tariffs are provisional.

The European Union will impose tariffs of up to 37.6% from Friday on imports of electric vehicles made in China, EU officials said, ratcheting up tensions with Beijing in Brussels’ largest trade case yet. There is however a four-month window during which the tariffs are provisional and intensive talks are expected to continue between the… Continue reading China-built EVs hit with duties in biggest EU trade case yetThere is a four-month window during which the tariffs are provisional.

Suzuki Motor Corp launches $41m social impact fund for India

Japanese automaker Suzuki Motor Corporation on Thursday launched a $41-million (Rs 340 crore) social impact fund to invest in Indian startups focused on agriculture, financial inclusion, rural supply chain, and rural mobility. Called Next Bharat Ventures, the fund will offer a four-month residency programme for early-stage entrepreneurs. The flagship programme, which is now accepting applications,… Continue reading Suzuki Motor Corp launches $41m social impact fund for India