Can China’s wildly popular app Xiaohongshu raise its profit game?

Two years ago, Daniel Zhang downloaded Xiaohongshu so he could order a special edition of “Flowers of the Amazon Forest,” a book by the British botanical artist Margaret Mee that was only available on the Chinese social app. What he didn’t anticipate was that Xiaohongshu would become an indispensable part of his daily life. Go… Continue reading Can China’s wildly popular app Xiaohongshu raise its profit game?

Temasek’s Xora anchors $55m Series A funding in US battery maker Peak Energy

Peak Energy, a US-based battery maker, has announced raising $55 million in its Series A funding round anchored by Xora Innovation, the early-stage deep tech investment arm of Singapore state investor Temasek Holdings. The fresh funding will be used to launch full-scale production of Peak Energy’s sodium-ion battery technology, which is a stable and proven… Continue reading Temasek’s Xora anchors $55m Series A funding in US battery maker Peak Energy

Tech stocks in Asia wobble on deepening Sino-US chip warAmong the worst hit in Asia were shares of Taiwan Semiconductor Manufacturing Co, the world’s …

Chip stocks in Asia tumbled on Thursday while their European counterparts got off to a tentative start after a news report that the United States was considering tighter curbs on exports of advanced semiconductor technology to China. Among the worst hit in Asia were shares of Taiwan Semiconductor Manufacturing Co (TSMC), the world’s largest contract chipmaker, which has… Continue reading Tech stocks in Asia wobble on deepening Sino-US chip warAmong the worst hit in Asia were shares of Taiwan Semiconductor Manufacturing Co, the world’s …

Blackstone posts modest Q2 profit jump on private equity, credit gains

Blackstone said on Thursday its second-quarter distributable earnings rose 3% from a year earlier, as a jump in asset sales in its private equity and credit divisions more than offset a slump in its real estate arm. The New York-based investment firm’s results underscore how a long spell of high interest rates has dragged down… Continue reading Blackstone posts modest Q2 profit jump on private equity, credit gains

PE major EQT to launch ninth Asia buyout fund as market normalisesThe predecessor fund, BPEA VIII, had raised over $11b in 2022.

Stockholm-based investment house EQT Group said it will formally launch its next Asia buyout fund in mid-August, as its current Asia vehicle is around 70% invested. The ninth BPEA EQT fund will, therefore, be activated in H1 2025, said Gustav Segerberg, EQT’s head of business development, at the firm’s half-year report announcement on Thursday. While… Continue reading PE major EQT to launch ninth Asia buyout fund as market normalisesThe predecessor fund, BPEA VIII, had raised over $11b in 2022.

India Digest: Newme, Lenskart raise funding

Clothing brand Newme has raked in $18 million in Series A funding, while ChrysCapital-backed eyewear retailer Lenskart has raised close to $20 million from its co-founders. Newme raises $18m in Series A round India’s Newme, which sells its own brand of clothing, has raked in $18 million in a Series A funding round led by… Continue reading India Digest: Newme, Lenskart raise funding

Hit by client exits, PwC to slash China partners’ pay by up to 50%

PricewaterhouseCoopers (PwC) has asked its China-based partners to take a pay cut of up to 50%, two people with knowledge of the matter said, as a regulatory probe into the firm and departure of some of its corporate clients prompt cost cuts and layoffs. Chinese authorities have been probing PwC‘s role in auditing China Evergrande Group after the securities regulator accused the… Continue reading Hit by client exits, PwC to slash China partners’ pay by up to 50%