The dearth of growth- to late-stage megadeals continued to suppress fundraising in Greater China in the third quarter, despite the volume of PE-VC deals reaching a record high. The total value of venture investments in startups headquartered in mainland China, Hong Kong, Macau, and Taiwan stood at $15.1 billion in July-September 2022, down 34.7% from… Continue reading Deal count soars in Q3, but fundraising falls YoY in Greater China
Author: Deal Street Asia Online News
SoftBank sets up executive committee to oversee Vision Fund 2
SoftBank Group Corp has created an executive committee to oversee its second Vision Fund, Latin America funds and any future funds, its founder and Chief Executive Masayoshi Son said in a memo to employees reviewed by Reuters. Alex Clavel will oversee investing teams in the United States and Latin America, Greg Moon will manage teams in Europe and Asia and Navneet Govil, Vision Fund‘s chief financial officer, will oversee other functional teams,… Continue reading SoftBank sets up executive committee to oversee Vision Fund 2
India regulator fines Google $162m for anti-competitive practices in AndroidGoogle told not to offer any incentives to smartphone makers for exclusive…
India’s competition regulator said on Thursday it has fined Alphabet Inc’s Google 13.38 billion Indian rupees ($161.95 million) for anti-competitive practices related to Android mobile devices. The Competition Commission of India (CCI) also ordered Google not to offer any incentives to smartphone makers for exclusively carrying its search services. Google did not immediately respond to… Continue reading India regulator fines Google $162m for anti-competitive practices in AndroidGoogle told not to offer any incentives to smartphone makers for exclusive…
Strong ecosystem, partnerships help Bank Jago book a profit in 9 months to Sept
Gojek-backed Indonesian digital lender Bank Jago has posted a significant growth in revenue and booked a profit in the first nine months of 2022 on the back of a strong ecosystem and new collaborations, according to a statement on Thursday. During January to September 2022, the lender posted a profit of 41 billion rupiah ($2.63… Continue reading Strong ecosystem, partnerships help Bank Jago book a profit in 9 months to Sept
Meta oversight board will soon apply warning screens on content
Meta Platforms Inc’s independent oversight board said on Thursday that starting this month it can decide on applying warning screens, marking content as “disturbing” or “sensitive”. The board, which already has the ability to review user appeals to remove content, said it would be able to make binding decisions to apply a warning screen when… Continue reading Meta oversight board will soon apply warning screens on content
Thai telco regulator gives conditional approval to True, DTAC merger
Thailand’s telecommunications regulator cleared the merger of the country’s second and third largest mobile operators, True Corporation Pcl and Telenor ASA’s Total Access Communication Pcl (DTAC) with conditions. The conditions include a price ceiling and price controls, the National Broadcasting and Telecommunication Commission (NBTC) said in a statement on Thursday. The delayed decision comes nearly… Continue reading Thai telco regulator gives conditional approval to True, DTAC merger
Blackstone’s Q3 earnings slump 16% on sharp drop in asset salesIts net profit from asset divestments across its portfolio fell 61%
Blackstone Inc, the world’s largest alternative asset manager, said on Thursday its third-quarter distributable earnings fell 16% year-on-year, owing to a sharp drop in asset sales amid a downturn in the market. Distributable earnings — the cash used to pay dividends to shareholders — fell to $1.4 billion from $1.6 billion a year earlier. That resulted in distributable earnings per share of $1.06, down from $1.28 a year ago, but slightly above the average analyst estimate… Continue reading Blackstone’s Q3 earnings slump 16% on sharp drop in asset salesIts net profit from asset divestments across its portfolio fell 61%
Indian regulator clears govt proposal to turn $1.9b Vodafone Idea dues into equity
India’s capital market regulator has approved the government’s proposal to convert dues of over $1.92 billion by telecom operator Vodafone Idea to equity, two senior government officials said on Thursday. Last year, India had approved a rescue package for debt-strapped telecom companies that allowed them to convert interest on deferred adjusted gross revenue owed to the government into equity. Among the country’s three major… Continue reading Indian regulator clears govt proposal to turn $1.9b Vodafone Idea dues into equity
Saudi Arabia’s Alsulaiman Group weighs IPO of IKEA business next year
Saudi Arabia’s Alsulaiman Group is weighing an initial public offering of its IKEA business franchise next year and has hired Moelis & Co as an adviser, two sources told Reuters. The company plans to invite investment banks early next year to pitch for roles in a possible public share-sale, said the sources, who declined to be identified as the matter is not public. Deliberations are… Continue reading Saudi Arabia’s Alsulaiman Group weighs IPO of IKEA business next year
Warburg Pincus investing $350m to set up SE Asia insurance platform OonaOona comprises Indonesia’s Asuransi Bina Dana Arta and the Philippines’ Mapfre…
Warburg Pincus LCC is investing $350 million to set up a Southeast Asian digital general insurance platform called Oona Insurance, marking the U.S-based private equity firm’s largest investment in the insurance sector in Asia. Warburg Pincus is partnering with Abhishek Bhatia, a former group chief officer of Asian insurance company FWD Group’s new business models… Continue reading Warburg Pincus investing $350m to set up SE Asia insurance platform OonaOona comprises Indonesia’s Asuransi Bina Dana Arta and the Philippines’ Mapfre…