Asian airline travel should reach about two-thirds of pre-pandemic levels by the end of the year with momentum going into 2023 based on bookings, the director general of the Association of Asia Pacific Airlines (AAPA) said on Thursday. Speaking on the sidelines of a meeting of the association in Bangkok, Subhas Menon, Menon told reporters that airlines underestimating pent–up demand had led to… Continue reading Asian airlines fly high on pent-up demand but face cost pressures
Author: Deal Street Asia Online News
‘Confidence Crisis’ sends crypto plunging as FTX seeks fresh funds
Cryptocurrency markets nursed heavy losses on Thursday, with bitcoin hovering near a two-year low as investors fretted about the fallout from the implosion of crypto exchange FTX, which was seeking new funds to plug a gaping hole in its finances. Larger rival Binance walked away from a bailout of FTX on Wednesday, sending cryptocurrency prices… Continue reading ‘Confidence Crisis’ sends crypto plunging as FTX seeks fresh funds
Indian food delivery platform Zomato’s Q2 losses reduce nearly 42%
Indian food delivery firm Zomato Ltd reported a smaller second-quarter loss on Thursday, helped by a sustained rise in online ordering. Consolidated net loss for the three months ended Sept 30 was 2.51 billion Indian rupees ($30.73 million), compared with 4.30 billion rupees a year earlier, the company said in a regulatory filing. Revenue from operations rose to 16.61 billion rupees from 10.24 billion rupees. Reuters… Continue reading Indian food delivery platform Zomato’s Q2 losses reduce nearly 42%
NIIF, JBIC sign pact to enhance Japanese investments in India
National Investment and Infrastructure Fund Limited (NIIF) on Thursday said it has signed a deal with Japan Bank for International Cooperation (JBIC) to promote Japanese investments in India by establishing a bilateral India-Japan Fund (IJF). The partnership is aiming for an investment of around $500-700 million in the IJF, according to a report by VCCircle.… Continue reading NIIF, JBIC sign pact to enhance Japanese investments in India
NTT, Kioxia to invest in new Japanese govt-backed semiconductor firmThe company will aim to mass-produce next-generation logic semiconductors.
Japanese companies, including Nippon Telegraph and Telephone Corp (NTT) and Kioxia Holdings Corp, have decided to invest in a new government-backed company that aims to mass-produce next-generation logic semiconductors, TV Tokyo reported on Thursday. Other companies, including Toyota Motor Corp, Sony Group, SoftBank and Denso Corp, also plan to invest about 1 billion yen ($6.84… Continue reading NTT, Kioxia to invest in new Japanese govt-backed semiconductor firmThe company will aim to mass-produce next-generation logic semiconductors.
Singapore’s CapitaLand builds $552m RMB funds to invest in China’s business parks
Singapore-based CapitaLand Investment (CLI), a global real estate investment manager, has set up new RMB-denominated funds with about 4 billion yuan ($551.5 million) in total managed capital to invest in business park opportunities in China. CapitaLand, which started RMB fundraising and management in June 2021, established the 380-million-yuan China Business Park Core RMB Fund I… Continue reading Singapore’s CapitaLand builds $552m RMB funds to invest in China’s business parks
China amends rules for management of state-run bailout funds for insurers
China has amended rules for the management of state-run bailout funds rescuing troubled insurers, its financial regulators said on Thursday. The rules aim to promote healthy development of the insurance industry, prevent and resolve financial risks, and maintain financial stability, the China Banking and Insurance Regulatory Commission said in a statement on its website. China Insurance Security Fund Co Ltd, which played a key role in bailing out fallen Anbang Insurance Group Co Ltd, is… Continue reading China amends rules for management of state-run bailout funds for insurers
Indonesia plans to task OJK with crypto market regulation
Indonesia plans to move the regulation, supervision, and oversight of cryptocurrency investments to the Financial Service Authority (OJK) to better protect investors, its finance minister said on Thursday. Currently, the Trade Ministry and the Commodity Futures Trading Regulatory Agency jointly oversee cryptocurrency in Southeast Asia’s largest economy, where there has been a boom in such investments. The new plan, laid out by… Continue reading Indonesia plans to task OJK with crypto market regulation
Global PE giant TPG hits $3.4b first close for new Asia fund
US-based alternative investment firm TPG has completed a $3.4-billion first close of its latest Asia fund, which targets a $6-billion corpus, the firm said during its Q3 2022 earnings call. TPG Capital Asia VIII was launched earlier this year, three years after the firm raised $4.6 billion for its seventh Asia-focused buyout vehicle. TPG said it… Continue reading Global PE giant TPG hits $3.4b first close for new Asia fund
Ex-Venturra exec’s Ansible Ventures raises $8m for first close of debut fund
Ho Chi Minh City-based early-stage venture capital firm Ansible Ventures has secured $8 million for the first close of its inaugural fund, according to a statement. Ansible Ventures was founded in June 2022 by Valerie Van Vu, who was previously Vietnam head of investments at Venturra, in partnership with Asian multi-family office Alto Partners. The… Continue reading Ex-Venturra exec’s Ansible Ventures raises $8m for first close of debut fund