U.S. private equity giants KKR & Co Inc, Apollo Global Management and Carlyle Group were added to a broad regulatory inquiry into how financial firms track employees’ digital communications, filings by the companies showed on Wednesday. The scope of the investigation around how Wall Street handles work-related communications on personal devices and apps such as… Continue reading KKR, Apollo and Carlyle become latest targets in SEC’s communication probeThe enquiry, which initially involved some of the largest US banks, was laun…
Author: Deal Street Asia Online News
Indonesian startups explore new routes as funding dries up
As investors turn cautious in lending to startups, growth-stage tech companies in Indonesia are looking at alternative financing options such as convertible notes, venture debt, or pure debt to raise funds this year. While logistics company Kargo is closing around $15 million in a bridge round from existing investors, according to sources aware of the… Continue reading Indonesian startups explore new routes as funding dries up
BYD launches luxury EV line in challenge to BMW, Mercedes-Benz
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Startup fundraising poised to fall significantly short of 2021 levels across Asia
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IFC proposes up to $100m senior loan to Vietnam lender SeABank
The International Finance Corporation (IFC), a member of the World Bank Group, has proposed to extend a senior loan of up to $100 million to Hanoi-based Southeast Asia Commercial Joint Stock Bank (SeABank), according to a disclosure. The proposed loan, which has a tenor of up to five years and will come from IFC’s own… Continue reading IFC proposes up to $100m senior loan to Vietnam lender SeABank
Germany blocks Chinese investment in two chipmakers over security concernsConcerns over national security and the flow of sensitive technological know…
The German government on Wednesday blocked prospective Chinese investment in two domestic semiconductor producers after the moves raised concerns over national security and the flow of sensitive technological know-how to Beijing. The government said it had vetoed the takeover of the chip factory of the Dortmund-based company Elmos by Silex, a Swedish company that is a subsidiary of Chinese group Sai Microelectronics. Berlin also blocked investment in ERS Electronic, which is based in the… Continue reading Germany blocks Chinese investment in two chipmakers over security concernsConcerns over national security and the flow of sensitive technological know…
India Digest: SirionLabs buys US-based Zendoc; ZikZuk acquires TaxSpanner.com
SirionLabs has acquired Kenzai Intelligent Systems (Zendoc), while ZikZuk Technologies has acquired SPANACROSS IT Solutions (TaxSpanner.com). SirionLabs buys US-based Zendoc SirionLabs, a company that provides software applications for enterprise contract management, on Wednesday said it has acquired Kenzai Intelligent Systems (Zendoc). DealStreetAsia had reported in August that SirionLabs was in the process of acquiring Zendoc… Continue reading India Digest: SirionLabs buys US-based Zendoc; ZikZuk acquires TaxSpanner.com
Savills IM adds Japan buildings, Aussie mall to flagship pan-Asia fund portfolio
Savills Investment Management (Savills IM), a London-based real estate fund manager, has completed the acquisitions of office and residential assets in Japan and a $54 million shopping centre in Australia’s Perth, per an announcement. The assets will be part of Savills IM’s flagship pan-Asia fund — the Asia Pacific Income and Growth Fund. The investments… Continue reading Savills IM adds Japan buildings, Aussie mall to flagship pan-Asia fund portfolio
Cryptocurrencies continue to spiral down despite Binance-FTX deal
Cryptocurrencies saw a second day of sharp declines on Wednesday, as investors continued to fret about the stability of the sector and the financial health of major exchange FTX despite plans for a rescue deal from bigger rival Binance. Crypto giant Binance signed a nonbinding agreement on Tuesday to buy FTX‘s non-US unit to help cover a “liquidity crunch” at the rival exchange. The… Continue reading Cryptocurrencies continue to spiral down despite Binance-FTX deal
Meta to fire 11,000 employees in one of the biggest layoffs this year
Meta Platforms Inc said on Wednesday it would cut more than 11,000 jobs, or 13% of its workforce, in one of the year‘s biggest layoffs as the Facebook parent battles soaring costs from its push into the metaverse amid a weak advertising market. The mass layoffs, the first in Meta‘s 18-year history, follow thousands of job cuts at other major tech companies, including Elon Musk-owned Twitter and Microsoft Corp. The pandemic-led boom… Continue reading Meta to fire 11,000 employees in one of the biggest layoffs this year