French luxury group LVMH will deepen its partnership with Alibaba to leverage the firm’s cloud and artificial intelligence capacities and boost its presence in China, the companies said on Wednesday. The world’s biggest luxury group, and the Chinese e-commerce giant first forged a partnership in 2019. The reinforced ties come as luxury companies redouble efforts… Continue reading LVMH deepens partnership with Alibaba to expand presence in China
Author: Deal Street Asia Online News
Thai e-commerce enabler aCommerce reports higher revenue in 2023, losses halve
Go to Source
India Digest: SAVE Group, Collective Artists Network secure funding
SAVE Group, which offers financial services in rural areas, has raised $13 million from international asset management firms Incofin and Maj Invest. Separately, Mumbai-based creative talent management firm Collective Artists Network has raised an undisclosed amount from Zerodha co-founder Nikhil Kamath. Incofin, Maj Invest inject $13m in SAVE Group SAVE Group, which offers financial services… Continue reading India Digest: SAVE Group, Collective Artists Network secure funding
Fatima Gobi Ventures to double down on Pakistan after fully deploying $20m debut fundFatima Gobi has backed Pakistani startups such as DealCart, Abhi,…
Thomas G. Tsao (fifth from left), co-founder of Gobi Partners, and Naiel Ikram (sixth from left), a partner of Fatima Gobi Ventures (FGV), pose for a group photo with Gobi Partners’ colleagues and founders of FGV-backed startups at the Gobi’s Hong Kong office on May 21, 2024. Go to Source
Singapore’s GIC said to be weighing an exit from Indonesia-listed Cinema XXI
Singapore’s sovereign wealth fund GIC is said to be considering an exit from its nearly eight-year-old investment PT Nusantara Sejahtera Raya Tbk, the operator of the IDX-listed movie chain Cinema XXI, according to multiple sources familiar with the matter. Go to Source
New entrants stir up India’s stock broking pot, paving way for consolidation
India’s stock trading industry, which has seen robust growth in recent times driven by faster settlements, the emergence of user-friendly apps, and a rise in initial public offerings (IPOs), looks ripe for consolidation, according to industry experts. Go to Source
IFC weighs $60m loan to Chinese decarbonisation firm Wote
Start your deal-making journey now! Subscribe now to enjoy unlimited access at just $59. Premium coverage on private equity, venture capital, and startups in Asia. Exclusive scoops from our reporters in nine key markets. In-depth interviews with industry leaders shaping the ecosystem. Subscribe now Go to Source
Alibaba, Baidu cut prices of large language models used to power AI chatbotsA price war in China’s cloud computing space has been ongoing.
Chinese tech giants Alibaba and Baidu slashed prices on Tuesday of large-language models (LLMs) used to power generative artificial intelligence products, as a price war in the cloud computing sector heats up in China. Alibaba’s cloud unit announced price cuts of up to 97% on a range of its Tongyi Qwen LLMs. Its Qwen-Long model, for instance, will… Continue reading Alibaba, Baidu cut prices of large language models used to power AI chatbotsA price war in China’s cloud computing space has been ongoing.
China’s Xpeng eyes higher Q2 deliveries as discounts boost EV demand
Xpeng said it expects deliveries to rise in the second quarter as price cuts draw in more buyers to its electric vehicles in the competitive Chinese market, sending its U.S.-listed shares 6% higher in premarket trading on Tuesday. The company said it expects to hand over between 29,000 and 32,000 vehicles, an increase of about 25% to 37.9% from the… Continue reading China’s Xpeng eyes higher Q2 deliveries as discounts boost EV demand
US SEC sends positive signal by asking exchanges to fine-tune ether ETF filings
The US securities regulator on Monday asked Nasdaq, CBOE and NYSE to fine–tune their applications to list spot ether exchange-traded-funds (ETFs), signaling the agency may be poised to approve the filings, four people familiar with the process told Reuters. While the exchange applications are the first step in a two-step approval process, a Securities and Exchange Commission green light would mark a major, and surprising,… Continue reading US SEC sends positive signal by asking exchanges to fine-tune ether ETF filings