Alphabet Inc’s Google should not restrict app developers from using third-party billing or payment processing services in India, the country’s antitrust body said on Tuesday, as it fined the US giant $113 million for anti-competitive practices. The Competition Commission of India (CCI) said Google used its “dominant position” to force app developers to use its in-app payment system, noting the sale of… Continue reading India slaps $113m fine on Google, orders third-party paymentsAntitrust body says Google forces app developers to use its in-app payment system.
Author: Deal Street Asia Online News
Mirae Asset said to be in talks to help fund Elon Musk’s Twitter deal
South Korea’s Mirae Asset Financial Group is planning to commit about 300 billion Korean won ($208 million) to help finance Elon Musk‘s $44 billion buyout of Twitter Inc, a person familiar with the matter told Reuters on Monday. The deal with Mirae is expected to be finalised in the coming days before the deadline for the closing of the Twitter… Continue reading Mirae Asset said to be in talks to help fund Elon Musk’s Twitter deal
SEA digest: iGrow teams up with eFishery; Enterprise SG partners Stellar Lifestyle
In Indonesia, agri fintech lender iGrow and aquatech firm eFishery have teamed up to help fish farmers access loans, while Enterprise Singapore has teamed up with Stellar Lifestyle to jointly fund startups innovating for the public transport network. iGrow partners with eFishery to enable loans for fish farmers LinkAja-owned agri P2P lender iGrow has partnered… Continue reading SEA digest: iGrow teams up with eFishery; Enterprise SG partners Stellar Lifestyle
Singapore’s GIC invests in German branded medicines platform CheplapharmThe investment will be provided in the form of a subordinated convertible inst…
Cheplapharm AG, an international platform for branded medicines, has announced raising €550 million (about $543 million) in structured investment from Singapore sovereign wealth fund GIC and Atlantic Park. Atlantic Park is a joint venture between global growth equity firm General Atlantic and credit-focused asset manager Iron Park Capital Partners. According to the announcement, the investment… Continue reading Singapore’s GIC invests in German branded medicines platform CheplapharmThe investment will be provided in the form of a subordinated convertible inst…
Grab to close Indonesia dark stores to bring operational synergy with Trans Retail
Southeast Asian superapp and ride-hailing giant Grab will close all of its dark stores in Indonesia and instead leverage the infrastructure of its partner Trans Retail, an executive of the firm said on Tuesday. In September, Grab had announced a strategic partnership with PT Trans Retail, the retail arm of CT Corp, as part of… Continue reading Grab to close Indonesia dark stores to bring operational synergy with Trans Retail
China Digest: China Renaissance bags CMS licence; EVAS Intelligence, ClinBrain raise funds
Hong Kong-listed financial institution China Renaissance has secured a capital market service licence in Singapore; while self-driving chip startup EVAS Intelligence and healthcare big data provider ClinBrain bagged funds. China Renaissance secures CMS licence in SG Hong Kong-listed financial institution China Renaissance has secured a capital market service licence in Singapore, following which the firm… Continue reading China Digest: China Renaissance bags CMS licence; EVAS Intelligence, ClinBrain raise funds
Guest post: How ESG is transforming SE Asia’s tech gameASEAN’s tech companies must establish tangible baselines for impact reporting.
Environmental, social, and governance (ESG) reporting is shaping up to be one of the most significant agendas of our time. Major commitments are being made in company boardrooms which have resulted in promising developments in emerging markets like Southeast Asia. As one of the fastest-growing regional economies, Southeast Asia has seen more than $15 billion… Continue reading Guest post: How ESG is transforming SE Asia’s tech gameASEAN’s tech companies must establish tangible baselines for impact reporting.
Korean video game firm GXC launches $40m venture fund
GXC, a South Korea-based global video game solutions company, has launched a $40-million venture fund focused on game developers and video game-related investments. In a statement, the gaming firm said the new VC fund, Round Ventures, will invest $2-8 million per gaming firm with co-investors. On its website, GXC said its co-investors include other game… Continue reading Korean video game firm GXC launches $40m venture fund
Agroshift, which raised Bangladesh’s largest pre-seed round, wants to transform the agri-supply chain
Agroshift, a Bangladeshi agritech startup, which enables businesses to source directly from farmers announced raising $1.8 million in funding on Tuesday. The fundraising marks the largest ever pre-seed round for any Bangladeshi startup to date. The round was co-led by UAE-based Shorooq Partners, a Middle East-focused technology investor, and Anchorless Bangladesh, a New York-based, early-stage… Continue reading Agroshift, which raised Bangladesh’s largest pre-seed round, wants to transform the agri-supply chain
Goldman Sachs launches Chinese infrastructure real estate joint venture
Goldman Sachs has launched a joint venture in China with local logistics company Sunjade in a bid to boost investment in Chinese logistics and infrastructure real estate assets, the U.S. bank said on Monday. The bank is forming the new unit via its investment arm Goldman Sachs Asset Management, which has invested more than $50 billion globally in real estate… Continue reading Goldman Sachs launches Chinese infrastructure real estate joint venture