Japan’s Rakuten Group is partnering with eBay to test U.S. demand for used Japanese fashion goods, made all the cheaper with the yen trading near a 34-year low. The tie-up, which started on May 8 with just seven vendors on Rakuten‘s second-hand goods unit Rakuma, aims to capitalise on the currency effect and also a move toward bargain… Continue reading Rakuten, eBay team up to test US market for used Japanese fashion goods
Author: Deal Street Asia Online News
iFlytek enters China’s AI language model price war
Artificial intelligence (AI) firm iFlytek on Wednesday entered a brewing price war between some of China’s biggest tech companies, after it made some versions of its “Spark” large-language model (LLM) free or five times cheaper than similar products from competitors. The move comes a day after Chinese tech giants Alibaba and Baidu slashed prices of their LLMs… Continue reading iFlytek enters China’s AI language model price war
KKR, Blackstone in race for Advent-owned Bharat Serums & Vaccines: ReportAdvent had initially acquired a 74% stake in Bharat Serums for around $500 mi…
The sale process for Bharat Serums & Vaccines Ltd, owned by private equity firm Advent International, has evinced interest from a bunch of global private equity funds including KKR, EQT, Blackstone, Bain Capital, Carlyle, Partners Group, and Permira as well as domestic drugmaker Mankind Pharma, Moneycontrol reported on Wednesday. Incorporated in 1971, Bharat Serums &… Continue reading KKR, Blackstone in race for Advent-owned Bharat Serums & Vaccines: ReportAdvent had initially acquired a 74% stake in Bharat Serums for around $500 mi…
China Digest: PopChill closes $3.1m round; HKMA extends term of deputy chief
Luxury resale marketplace PopChill has closed its Series Pre-A+ round at $3.1 million. Separately, Hong Kong’s de facto central bank has extended the term of its deputy chief executive Arthur Yuen for two years. PopChill raises $3.1m, may expand to SG PopChill, a luxury resale marketplace operating in Taiwan and Hong Kong, announced on Wednesday… Continue reading China Digest: PopChill closes $3.1m round; HKMA extends term of deputy chief
LVMH deepens partnership with Alibaba to expand presence in China
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
Thai e-commerce enabler aCommerce reports higher revenue in 2023, losses halve
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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