Southeast Asia’s digital economy may cross the $200 billion mark by Gross Merchandise Value (GMV) this year, three years earlier than thought, according to the 2022 e-Conomy report by Google, Temasek, and Bain & Co. The inaugural e-Conomy SEA report, in 2016, had predicted this to happen by 2025. GMV in the region is on… Continue reading SE Asia’s digital economy to hit $200b GMV in 2022 — three years earlier than expected
Author: Deal Street Asia Online News
Investcorp brings its family business experience to emerging Asia
Bahrain-based alternatives firm Investcorp is rarely in the news. But it is not unknown, particularly among those who have been tracking global private equity deals in consumer and consumer-related industries. Investcorp made headlines in the 1980s and 1990s with high-profile deals including North American and European luxury companies such as Tiffany & Co., Gucci Group,… Continue reading Investcorp brings its family business experience to emerging Asia
Altair Capital looks to raise $160-200m second fund next year
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Stripe enters crowded Thai payments market with global strategy
Stripe says it will use its global payments network to attract businesses of all sizes in Thailand after it launched operations in the already crowded market on Wednesday. The fintech company, headquartered in San Francisco and Dublin, is the latest in a string of U.S. tech companies to expand in Southeast Asia’s increasingly digital economies.… Continue reading Stripe enters crowded Thai payments market with global strategy
UAE completes pilot of crossborder transactions using central bank digital currenciesCentral banks have been racing to develop CBDCs as an alternative…
The Central Bank of the United Arab Emirates (CBUAE) said on Wednesday it has completed the world’s largest pilot of central bank digital currencies (CBDC) transactions, with other regulators including the People’s Bank of China’s Digital Currency Institute. “The project mBridge demonstrated faster, cost-effective and secure cross-border monetary settlements using central bank money, identified as a G20 economic priority,” CBUAE said, adding it would be positive for… Continue reading UAE completes pilot of crossborder transactions using central bank digital currenciesCentral banks have been racing to develop CBDCs as an alternative…
Crypto industry disappointed as Australia looks to impose capital gains tax
The cryptocurrency industry said on Wednesday it was disappointed with Australia’s decision to continue treating digital currencies as assets for tax purposes, and not as foreign currency. The government said in its budget announcement on Tuesday it would introduce legislation to enshrine the treatment of digital currencies such as Bitcoin as an asset. This means investors would pay… Continue reading Crypto industry disappointed as Australia looks to impose capital gains tax
Australia’s ELMO Software agrees to takeover offer from US firm K1 Investment
Australia’s ELMO Software said on Wednesday it has agreed to a near-A$500 million ($319 million) takeover bid from Los Angeles-based K1 Investment Management. The U.S. group offered A$4.85 per share in cash for the cloud-based software solutions business that operates in Australia, New Zealand and the United Kingdom. The offer is a 100.4% premium to the closing… Continue reading Australia’s ELMO Software agrees to takeover offer from US firm K1 Investment
Sony unit, Zee to divest three channels ahead of planned India merger
The Indian unit of Japan’s Sony and Zee Entertainment Enterprises have agreed to divest three Hindi language channels as part of their deal to create a $10-billion TV behemoth, according to an order by India’s competition regulator. The plan became public on Wednesday as the Competition Commission of India released a detailed copy of its order approving… Continue reading Sony unit, Zee to divest three channels ahead of planned India merger
Chinese automaker Chijet to merge with new SPAC at 37% lower valuation
Chijet Motor Co on Wednesday agreed to go public in the United States through a merger with a blank-cheque company that gave the China-based automaker a 37% lesser valuation than what it had secured in another deal that was terminated. The deal with special purpose acquisition company (SPAC) Jupiter Wellness Acquisition Corp values Chijet at $1.6 billion, less… Continue reading Chinese automaker Chijet to merge with new SPAC at 37% lower valuation
Chinese VC firm Bright Capital raises almost $140m for dual-currency fund seriesBright Capital plans to double down on early-stage dealmaking in the c…
Chinese venture capital (VC) firm Bright Capital has held the final closing of a new US dollar fund, bringing the total capital commitments for its third dual-currency fund series to 1 billion yuan ($139.3 million), it announced on Wednesday. With the dry powder, Shenzhen-headquartered Bright Capital plans to double down on early-stage investments in the… Continue reading Chinese VC firm Bright Capital raises almost $140m for dual-currency fund seriesBright Capital plans to double down on early-stage dealmaking in the c…