HSBC Holdings PLC plans to relaunch its India private banking business within a year, its India CEO told Reuters on Thursday, after the Asia-focused lender has identified the country as a key strategic market for growth. HSBC exited the Indian private banking business in 2015 as part of a group strategy. The lucrative but very competitive Indian… Continue reading HSBC to relaunch India private banking business within a year
Author: Deal Street Asia Online News
Japan’s Kirin exits Myanmar business with military-linked partner
Japanese drinks company Kirin Holdings will sell its stake in a Myanmar joint venture with a military-linked local partner, it said on Thursday, exiting the Southeast Asian country more than a year after the military toppled an elected government. Kirin‘s 51% stake in Myanmar Brewery Limited will be sold back to the brewery for 22.4 billion yen… Continue reading Japan’s Kirin exits Myanmar business with military-linked partner
India Digest: GetVantage raises $36m; Carlyle picks stake in Varmora GranitoCarlyle is picking up a minority stake in Gujarat-based Varmora Granito.
GetVantage, a Mumbai-based lending platform for small and medium enterprises (SMEs), has raised funding while Carlyle is picking up a strategic minority stake in Gujarat-based Varmora Granito Pvt. Ltd. GetVantage raises $36m led by Varanium Nexgen, DMI Sparkle Fund SME lending platform GetVantage has raised $36 million in a round led by Varanium Nexgen Fintech… Continue reading India Digest: GetVantage raises $36m; Carlyle picks stake in Varmora GranitoCarlyle is picking up a minority stake in Gujarat-based Varmora Granito.
Singapore regulator MAS rebukes crypto hedge fund Three Arrows Capital
Singapore’s financial regulator has accused embattled crypto hedge fund Three Arrows Capital of exceeding its assets threshold and providing false information. Three Arrows (3AC) is one of the highest-profile investors hit by the sharp sell-off in crypto markets and is being liquidated, Reuters reported on Wednesday, citing a source familiar with the matter. On Thursday the Monetary Authority… Continue reading Singapore regulator MAS rebukes crypto hedge fund Three Arrows Capital
Bank of Ayudhya buys Nomura’s Thai securities unit for $155m
Thailand’s Bank of Ayudhya Pcl (BAY) announced on Thursday it would acquire Nomura‘s securities unit in Thailand for $155.3 million. Japan’s Mitsubishi UFJ Financial Group holds a 76.9% stake in the Bank of Ayudhya, also known as Krungsri Bank, Thailand’s fifth-largest lender by assets. “This transaction forms part of our strategic moves to accelerate the growth… Continue reading Bank of Ayudhya buys Nomura’s Thai securities unit for $155m
Former Zilingo CEO Ankiti Bose resigns from company board amid MBO talks
Zilingo co-founder and former CEO Ankiti Bose has resigned from all directorship positions at the company, including the holding company and all subsidiaries, in a fresh turn of events related to the Singapore-based fashion startup. “Given the current circumstances, and due to the opacity of information to me as a board member and a shareholder,… Continue reading Former Zilingo CEO Ankiti Bose resigns from company board amid MBO talks
Early-stage investor Entrepreneur First raises $158m to scale up SE Asia investmentsEF has raised the capital in the form of a Series C round.
Early-stage investor Entrepreneur First (EF) has raised $158 million from a group of veteran technology founders representing major tech companies including Stripe, LinkedIn, WordPress, Github, Twitch and Pandora, among others. EF has raised the capital in the form of a Series C round. Founded in 2011 by Matt Clifford and Alice Bentinck in London, EF… Continue reading Early-stage investor Entrepreneur First raises $158m to scale up SE Asia investmentsEF has raised the capital in the form of a Series C round.
Indonesia’s GajiGesa inks pact with Gaji.id to expand service reach
Indonesian financial wellness platform GajiGesa has announced a partnership with employee management platform Gaji.id to expand the reach of its on-demand pay solutions to over 1,000 companies in the next 12 months. The collaboration would enable workers to access their earned wages directly from the Gaji.id application while employers can manage workers’ data from the… Continue reading Indonesia’s GajiGesa inks pact with Gaji.id to expand service reach
Chinese adaptive robot maker Flexiv joins unicorn club after $100m Series B+ roundWith the new investment, the total capital raised by Flexiv stands a…
Flexiv, a Chinese startup that builds adaptive robots for the manufacturing industry, has become the latest unicorn in the robotics sector after raising almost $100 million in its Series B+ round of financing. Shanghai-based Flexiv, which did not disclose the investors of the new round, plans to use the fresh capital in the R&D of… Continue reading Chinese adaptive robot maker Flexiv joins unicorn club after $100m Series B+ roundWith the new investment, the total capital raised by Flexiv stands a…
How investors can deal with crypto turbulence
When Doug Milnes started buying cryptocurrencies in January of this year, he felt like it could become an entirely new asset class for investors. Right now what it is making him feel is extremely unsettled. The marketing executive from Summit, New Jersey, says his holdings, including a number of different cryptocurrencies like ethereum, are down around 60% from… Continue reading How investors can deal with crypto turbulence