Author: Deal Street Asia Online News

Musk launches Starlink space satellite services in Indonesia for health sector

Elon Musk and Indonesian Health Minister Budi Gunadi Sadikin launched SpaceX’s satellite internet service for the nation’s health sector on Sunday, aiming to improve access in remote parts of the sprawling archipelago. Musk, the billionaire head of SpaceX and Tesla, arrived on the Indonesian resort island of Bali by private jet before attending the launch… Continue reading Musk launches Starlink space satellite services in Indonesia for health sector

Didi co-founder Liu steps down after decade as president & board director

Didi Global Inc’s co–founder Jean Liu has stepped down from her roles as president and board director of China’s biggest ride–hailing firm to take on a new role, according to an internal company memo. Didi, which is seen as China’s answer to Uber but has faced prolonged regulatory scrutiny, will no longer have a position of president, it said in the memo seen by Reuters.… Continue reading Didi co-founder Liu steps down after decade as president & board director

Goldman Sachs to double down on PE credit lines as dealmaking picks upPrivate equity deal activity is expected to pick up due to record-high fundraisi…

U.S. investment bank Goldman Sachs GS.Nis muscling into the lending market for private equity and asset managers, planning an overseas expansion as it helps fill a void left by turmoil at regional banks and the sale of Credit Suisse. The Wall Street bank and rivals JPMorgan Chase and PNC Financial Services are stepping up in this $800 billion to $1 trillion market as private equity deal activity is expected to pick up due to record-high fund-raising. Such loans are… Continue reading Goldman Sachs to double down on PE credit lines as dealmaking picks upPrivate equity deal activity is expected to pick up due to record-high fundraisi…

India: Wipro COO Amit Choudhary quits, business head Jain to take over

India’s Wipro said on Friday that its chief operating officer Amit Choudhary is stepping down, with Sanjeev Jain, current global head of business operations named as his successor with immediate effect. This is the second-level senior exit at the firm in less than a week. Choudhary is leaving the company to pursue opportunities outside the organization, and May 31 will be his last day at the firm, it said in… Continue reading India: Wipro COO Amit Choudhary quits, business head Jain to take over

Abu Dhabi fund Mubadala’s AUM rose 9.5% in 2023 to touch $302bMubadala Investment Company is the second-biggest state fund in Abu Dhabi.

Abu Dhabi sovereign wealth fund Mubadala’s assets under management rose 9.5% last year to 1.11 trillion dirhams ($302.2 billion), it reported on Friday. Mubadala Investment Company is the second-biggest state fund in Abu Dhabi, the capital of the United Arab Emirates (UAE), behind Abu Dhabi Investment Authority (ADIA). “Mubadala built on its role as a global investor through opportunistic capital deployment in North America, Asia and Europe in sectors key… Continue reading Abu Dhabi fund Mubadala’s AUM rose 9.5% in 2023 to touch $302bMubadala Investment Company is the second-biggest state fund in Abu Dhabi.

India startups 3SC, Matel and OTPless secure fundingOTPless, set up by the founding team of BharatPe, has raised $3.5 million in its pre-series A fund…

Supply chain solutions firm 3SC,  homegrown mobility solutions company Matel, and OTPless, set up by the founding team of fintech BharatPe, have announced fundraising updates. 3SC snags an additional $4m Supply chain solutions firm 3SC has raised an additional $4 million in a funding round from existing investor GEF Capital’s South Asia Growth Fund. The… Continue reading India startups 3SC, Matel and OTPless secure fundingOTPless, set up by the founding team of BharatPe, has raised $3.5 million in its pre-series A fund…

Vertex Ventures launches $64m inaugural Japan-focused fund

Vertex Ventures Japan (VVJ) on Friday announced the launch of its 10 billion yen ($64 million) debut fund, which is anchored by Singapore-based Vertex Holdings. VVJ is part of the Vertex family of funds that operate in China, Israel, Southeast Asia and India, as well as the US. Each fund is independently managed and focuses… Continue reading Vertex Ventures launches $64m inaugural Japan-focused fund

Xpeng says US tariffs on Chinese EVs detrimental to meeting carbon neutrality

Chinese electric vehicle maker Xpeng said on Friday new U.S. tariffs on Chinese EVs are detrimental to achieving carbon neutrality and green energy transition. Xpeng co-President Brian Gu said he hopes the United States can become more open, allowing global products to enter and compete in the U.S. market. He was speaking in Hong Kong… Continue reading Xpeng says US tariffs on Chinese EVs detrimental to meeting carbon neutrality