BP plc has agreed to buy a 40.5% stake and become the operator of an Australian renewable energy project that could become one of the world’s biggest producers of green hydrogen, the global oil major said, without disclosing how much it paid. The Asian Renewable Energy Hub (AREH) in outback Western Australia would develop up to… Continue reading BP buys into Australia’s mega renewable energy project
Author: Deal Street Asia Online News
Lenovo buys $614m stake in PCCW digital units to push IT services growth
Chinese personal computers maker Lenovo Group is acquiring stakes worth $614 million in two digital units of Hong Kong telecoms firm PCCW Ltd, betting that a post-COVID recovery and hybrid work model will drive IT services demand. Lenovo, the world’s largest maker of personal computers, said in a statement late on Tuesday it will buy an 80%… Continue reading Lenovo buys $614m stake in PCCW digital units to push IT services growth
Baidu in talks to sell majority stake in China’s Netflix-like iQIYI
China’s internet search engine giant Baidu Inc is in talks to sell its controlling stake in iQIYI Inc, China’s answer to Netflix, in a deal that could value all of iQIYI at about $7 billion, two people with knowledge of the matter said. Baidu, which owns 53% of iQIYI and holds more than 90% of its shareholder voting rights, plans to… Continue reading Baidu in talks to sell majority stake in China’s Netflix-like iQIYI
Indonesian airline Garuda gets two-day reprieve in debt restructuring vote
Creditors of Garuda Indonesia are set to vote on a restructuring proposal on Friday, a court-appointed administrator said, after the debt-ridden airline was given a two-day delay on holding the vote. On Monday, Garuda asked for the vote, which was initially scheduled for Wednesday, to be postponed as the carrier finalised the restructuring proposal. The… Continue reading Indonesian airline Garuda gets two-day reprieve in debt restructuring vote
Singapore’s Delight Capital launches $50m VC fund for tech investments in SE Asia …
Singapore-based Delight Capital, which has previously invested in residential property in London, has launched a $50-million fund targeting early- and late-stage tech in Southeast Asia. The fund will also have sidecar vehicles for co-investments, which could take its total corpus to around $250 million. Go to Source
India’s newest unicorn Purplle says expenses have peaked, losses to narrow
Three friends — Manish Taneja, Rahul Dash, and Suyash Katyayani — wanted to set up a furniture brand more than a decade ago. However, with combined savings of only around Rs50 lakh ($640,000 at today’s rates), they realised that it would be hard to run a business that involves high logistics and transportation costs. Hailing… Continue reading India’s newest unicorn Purplle says expenses have peaked, losses to narrow
US development bank DFC approves $255m investments in SE Asia in Q2
The US development bank International Development Finance Corporation (DFC) has approved at least $255 million worth of investments in companies based in, or focused on, Southeast Asia. The deals, which involved debt financing and equity investments, were part of the more than $1.4 billion that the bank approved this quarter to support US national security… Continue reading US development bank DFC approves $255m investments in SE Asia in Q2
Hong Kong IPO by GoGoX is a sign that China’s tech crackdown is letting up
Logistics platform operator GoGoX plans an initial public offering in Hong Kong next week, a sign that China’s crackdown on the tech industry might be letting up. GoGoX, which has been dubbed “Uber for logistics,” aims to raise 567.3 million Hong Kong dollars ($72.3 million) after fees and expenses in its June 24 debut, it was… Continue reading Hong Kong IPO by GoGoX is a sign that China’s tech crackdown is letting up
Coinbase says it will slash 1,100 jobs as crypto winter sets in
Coinbase Global Inc will cut about 1,100 jobs, or 18% of its workforce, the cryptocurrency exchange said on Tuesday, the latest company preparing to ride out a downturn in the cryptosphere. The cryptocurrency market has been roiled by extreme volatility as investors dumped risky assets on fears that higher inflation readings would force the US Federal… Continue reading Coinbase says it will slash 1,100 jobs as crypto winter sets in
India digest: Siply raises $19m; Tiger Global leads Groyyo, Battery Smart funding rounds …
Micro-savings platform Siply has raised $19 million in its pre-Series A round of funding led by QI Ventures. Separately, Tiger Global has led funding in B2B manufacturing and automation startup Groyyo and EV battery swapping network Battery Smart. Siply raises $19m pre-Series A Micro-savings platform Siply has raised $19 million in its pre-Series A round… Continue reading India digest: Siply raises $19m; Tiger Global leads Groyyo, Battery Smart funding rounds …