Europe’s drive to build a homegrown electric vehicle battery industry is hitting roadblocks as investors shy away from giving startups sufficient funding to challenge the Asian companies that dominate the market. With the notable exception of Sweden’s Northvolt, some startups hoping to build so-called gigafactories to compete with the Asian behemoths are going for smaller… Continue reading Europe leans on Asia for ‘homegrown’ EV batteries
Author: Deal Street Asia Online News
Malaysia’s Maybank appoints Michael Oh-Lau as investment banking chief
Malaysia’s biggest lender, Malayan Banking Bhd (Maybank), has appointed Michael Oh-Lau Chong Jin as chief executive of its investment banking arm, effective Dec. 1 Oh-Lau will succeed Ami Moris, who is retiring after four years in the role, the bank said on Thursday. A former head of the bank’s debt markets team, Oh-Lau will oversee… Continue reading Malaysia’s Maybank appoints Michael Oh-Lau as investment banking chief
Cracks in Vietnam the latest alarm from frontier markets
Financial markets in Vietnam, Asia’s fastest-growing economy, are in an unsettling slide as a crackdown on property lending, a falling currency and rising interest rates heap pressure on banks and rattle confidence. The Vietnamese dong and the benchmark stock index are heading for their worst annual performance since the 2008 financial crisis, with only Hong… Continue reading Cracks in Vietnam the latest alarm from frontier markets
India unlikely to offer tax concessions for first sovereign green bond issue
India‘s government is unlikely to offer any tax concessions to attract investors to its first issue of sovereign green bonds, a senior government official told Reuters on Thursday. Despite that, it expects the bonds to be sold at a lower coupon rate than other government securities. The plan to issue green bonds was first discussed by Finance Minister Nirmala Sitharaman in the 2022/23 budget as a part of overall market borrowing with the… Continue reading India unlikely to offer tax concessions for first sovereign green bond issue
Blibli IPO said to have been twice oversubscribed on Day 1The oversubscription of retail orders will not change the free float of 15%, sources said.
Shares of PT Global Digital Niaga Tbk — the entity that owns Indonesian e-commerce player Blibli, online travel agency Tiket.com, and supermarket chain Ranch Market — are said to have been oversubscribed two times by retail investors on Day 1 of its public offering, according to sources familiar with the matter. The Blibli IPO, which… Continue reading Blibli IPO said to have been twice oversubscribed on Day 1The oversubscription of retail orders will not change the free float of 15%, sources said.
India Digest: P&G sets up $24m India innovation fund; Games24x7 launches $48m fund
Procter & Gamble India has announced a $24-million ‘P&G Technovate Fund’, while online gaming unicorn Games24x7 is launching a $48.3-million investment fund. P&G sets up Technovate Fund Procter & Gamble (P&G) India has announced a $24-million (Rs. 200 crore) ‘P&G Technovate Fund’ to solve business challenges by fostering innovation and leveraging innovative technology in collaboration… Continue reading India Digest: P&G sets up $24m India innovation fund; Games24x7 launches $48m fund
GIC, ESR launch $600m logistics JV in India
Go to Source
India Digest: PremjiInvest leads $21m funding in The Sleep Company; CashKaro snags close to $16m
In the latest funding deals, The Sleep Company has raised about $21.3 million (Rs177 crore) in its Series B round led by PremjiInvest, while cashback and coupons platform CashKaro has raised $15.7 million in its Series C funding round. PremjiInvest backs The Sleep Company Mattress maker The Sleep Company has raised about $21.3 million (Rs… Continue reading India Digest: PremjiInvest leads $21m funding in The Sleep Company; CashKaro snags close to $16m
Saudi’s Neom invests $175m in German aviation startup VolocopterThe investment was part of the additional $182m that Neom raised in Series E round.
Neom, the smart and sustainable regional development in northwest Saudi Arabia, announced that it has invested $175 million in German urban air mobility startup Volocopter. The investment was part of the additional $182 million that Neom raised in its Series E funding round, which was also participated by Hong Kong’s GLy Capital Management. In March,… Continue reading Saudi’s Neom invests $175m in German aviation startup VolocopterThe investment was part of the additional $182m that Neom raised in Series E round.
Japan’s Sumitomo Mitsui to boost stake in Philippines’ RCBC for $460m
Japan’s Sumitomo Mitsui Financial Group Inc said on Wednesday it would buy an additional 15% stake in the Philippines’ Rizal Commercial Banking Corp (RCBC) for about $460 million. The move is part of a drive by Japan’s second-largest lender to capture growth in Asian emerging markets through acquisitions, spurred on by limited business opportunities at… Continue reading Japan’s Sumitomo Mitsui to boost stake in Philippines’ RCBC for $460m