Indonesian miner Aneka Tambang has sold shares worth $467.18 million in two of its subsidiaries to a unit of the world’s biggest electric vehicle battery maker, China’s Contemporary Amperex Technology Co (CATL). In a disclosure published late on Thursday, Aneka Tambang, known as Antam, said it made the sales to Ningbo Contemporary Brunp Lygend Co Ltd (CBL) through the latter’s Hong Kong unit. CBL is a holding subsidiary of CATL… Continue reading Indonesia’s Antam sells $467m shares in two subsidiaries to China’s CATL
Author: Deal Street Asia Online News
China’s Xiaomi unveils the SU7—its first electric vehicleThe sedan has a shared operating system with the company’s popular phones.
Chinese smartphone maker Xiaomi took the wraps off its first electric vehicle on Thursday and promptly announced it was aiming to become one of world’s top five automakers. The sedan, dubbed the SU7, is a highly anticipated model that is expected to make the most of its shared operating system with the company’s popular phones.… Continue reading China’s Xiaomi unveils the SU7—its first electric vehicleThe sedan has a shared operating system with the company’s popular phones.
Indian baby products retailer FirstCry files for $218m IPO; M&M, TPG to sell stake
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US court says Alibaba must face lawsuit over sale of fake Squishmallows toys
A US judge on Wednesday rejected Alibaba‘s bid to dismiss a lawsuit over the alleged sale by various merchants of counterfeit versions of the popular children’s toy Squishmallows on its online platforms. US District Judge Jesse Furman in Manhattan said Kelly Toys, whose parent Jazwares is owned by billionaire Warren Buffett’s Berkshire Hathaway, plausibly alleged that Alibaba knew… Continue reading US court says Alibaba must face lawsuit over sale of fake Squishmallows toys
NY Times sues OpenAI, Microsoft alleging copyright infringement
The New York Times sued OpenAI and Microsoft on Wednesday, accusing them of using millions of the newspaper’s articles without permission to help train chatbots to provide information to readers. The Times said it is the first major US media organization to sue OpenAI, creator of the popular artificial intelligence platform ChatGPT, and Microsoft, an OpenAI investor and creator… Continue reading NY Times sues OpenAI, Microsoft alleging copyright infringement
RevFin raises $14m led by Omidyar and other India deals worth $133m
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From rolling out LLMs to the pursuit of adoption, here’s how China’s AI race unfolded in 2023Cloud services and industry applications are the two brig…
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Tough conditions to persist even if funding winter eases in 2024, says SC Ventures chief
Startups looking to raise money quickly to fuel their growth next year may find tough conditions persisting, even if the current ‘funding winter’ eases toward the latter half of 2024, according to the head of Standard Chartered’s financial technology investment arm. Go to Source
Risk investors surf new opportunities as Vietnam startups ride the AI waveVietnam is believed to be at the cutting edge of AI development in emerging …
As Vietnam, like the rest of Southeast Asia, jumps onto the artificial intelligence (AI) bandwagon, risk capital investors in the country are scouting for opportunities in companies or modern businesses that have embraced new technologies like AI to boost their operations. Go to Source
Tencent, NetEase shares rebound as regulators vow to ease proposed rules
Chinese online gaming giant Tencent Holdings saw its shares stage a mild rebound on Wednesday, the first day of trade after regulators vowed to make improvements to proposed rules that had sent stock in gaming companies plunging. Its Hong Kong-listed shares climbed 3% in morning trade after a 12% tumble on Friday. Hong Kong markets were closed on Monday and Tuesday for public holidays. Rival NetEase shot up 14% compared with a 25% plunge… Continue reading Tencent, NetEase shares rebound as regulators vow to ease proposed rules