Vietnamese electric vehicle (EV) maker VinFast is delaying the launch of its planned $4 billion factory in North Carolina to 2028 and cutting its delivery forecast for this year by 20,000 units amid uncertainties in the global EV market. VinFast, founded by Vietnam’s richest man Pham Nhat Vuong in 2017 and which turned to making… Continue reading Vietnam’s VinFast delays US electric car plant, trims delivery forecast
Author: Deal Street Asia Online News
GIP, Stonepeak among bidders for Singapore Power’s 40% stake in JemenaSingapore Power, an energy utility company, is wholly owned by state investor Te…
Global Infrastructure Partners (GIP) and Stonepeak are among the bidders for Singapore Power’s 40% stake in Jemena in a potential deal that could value the Australian energy group at over $10 billion, two sources with knowledge of the matter said. The infrastructure investors were among the parties that submitted first-round bids which were due in June, the… Continue reading GIP, Stonepeak among bidders for Singapore Power’s 40% stake in JemenaSingapore Power, an energy utility company, is wholly owned by state investor Te…
China proposes tougher rules to cool overheated solar manufacturing industry
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M&A deals by Chinese businesses in US reach 18-year low in H1 2024
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OpenAI working on new reasoning technology under code name ‘Strawberry’
ChatGPT maker OpenAI is working on a novel approach to its artificial intelligence models in a project code-named “Strawberry,” according to a person familiar with the matter and internal documentation reviewed by Reuters. The project, details of which have not been previously reported, comes as the Microsoft-backed startup races to show that the types of models it… Continue reading OpenAI working on new reasoning technology under code name ‘Strawberry’
Indonesian poultry startup Pitik said to have ceased operations
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Data centre operator Equinix weighs selling minority stake in Hong Kong assetsThe US-based company could sell 25% in its Hong Kong data centres.
Global data centre operator Equinix is considering a sale of a minority stake in its Hong Kong facilities, valuing the assets at around $2 billion, two sources said, in a move to capitalise on the boom in demand from artificial intelligence. Equinix has hired Citigroup to run the sale, the sources said, who have direct knowledge of the… Continue reading Data centre operator Equinix weighs selling minority stake in Hong Kong assetsThe US-based company could sell 25% in its Hong Kong data centres.
India: NABARD to launch agri fund for startups and rural enterprises
The National Bank for Agriculture and Rural Development (NABARD) is all set to launch an agri fund for startups and rural enterprises with an initial corpus of Rs 750 crore (around $90 million). NABARD and India’s Ministry of Agriculture are set to pump in Rs 250 crore each, the remaining amount will come from other… Continue reading India: NABARD to launch agri fund for startups and rural enterprises
Activist investor Oasis sues top execs of Japan’s Kusuri No Aoki for governance lapses
Hong Kong-based activist investor Oasis Management said on Friday it filed a lawsuit against Japanese drugstore operator Kusuri No Aoki‘s president and vice president citing “serious governance failures”. It is the latest example of high-profile activist campaigning in Japan, a practice which is on the rise amid global investor interest in changing corporate governance and improved shareholder returns at Japanese firms. Oasis alleged in the lawsuit that Aoki issued… Continue reading Activist investor Oasis sues top execs of Japan’s Kusuri No Aoki for governance lapses
Australia’s competition regulator begins informal review of TPG Telecom-Optus deal
Australia’s competition watchdog has started an informal review of the network sharing deal between TPG Telecom and Optus, owned by Singapore Telecommunications, the regulator said on Friday. Under the deal signed in April, TPG would expand coverage to 2,444 mobile network sites in regional Australia, up from 755, and would gain access to Optus‘ regional 5G network as it is rolled out. The Australian Competition and Consumer Commission (ACCC) said that it is seeking views on… Continue reading Australia’s competition regulator begins informal review of TPG Telecom-Optus deal