Author: Deal Street Asia Online News

Gold loan lender Rupeek latest Indian startup to cut jobs amid slowdown

The decline in startup funding is impacting a range of sectors, with employees being laid off in companies including Unacademy, Vedantu, Eruditus, Cars24, MFine and Lido, among others. Rupeek, a digital-focused gold loan lender, is the latest. The fintech startup backed by Sequoia and Accel on Tuesday said it has laid off 10-15% of its… Continue reading Gold loan lender Rupeek latest Indian startup to cut jobs amid slowdown

People Digest: Credit Suisse, M&G Investments, Capital Group announce key hires

Credit Suisse has named Min Huang to lead its asset management business in the Asia-Pacific while M&G Investments (M&G) has appointed Guan Yi Low as head of fixed income in the Asia-Pacific. Capital Group has appointed Suyin Tan as managing director, financial intermediaries, for Singapore and Southeast Asia. Huang named Credit Suisse asset management lead… Continue reading People Digest: Credit Suisse, M&G Investments, Capital Group announce key hires

Early signs of a thaw in crypto winter as overall flows turn positive …

As the crypto winter creeps into June, the first signs of a thaw are emerging. Some investors are now betting that bitcoin is bottoming out, judging by the money heading into listed cryptocurrency funds, which represent just a slice of the market yet are popular among institutional and retail players alike. Overall flows into such funds turned positive last… Continue reading Early signs of a thaw in crypto winter as overall flows turn positive …

Yankuang Energy offers to buy rest of Yancoal Australia as $1.8b offer fails

China’s Yankuang Energy said on Tuesday that it was open to negotiations to buy the remaining shares in its majority-owned unit Yancoal Australia, after the Australian coal firm rejected a $1.8-billion offer. Yankuang, which owns 62.26% of Yancoal‘s shares, said last month that it was considering offering Yancoal shareholders $3.60 per share in convertible bonds for the remaining 498.2 million shares not held by the company,… Continue reading Yankuang Energy offers to buy rest of Yancoal Australia as $1.8b offer fails

Citigroup to hire 3,000 employees in Asia institutional banking push

Citigroup Inc plans to hire around 3,000 new staff for its Asia institutional business in the next few years, sharpening its focus in a fast-growing region where it has exited consumer banking in most markets, its Asia Pacific chief executive said. The previously unreported staff expansion plans underline Citi’s ambition to make institutional banking and wealth… Continue reading Citigroup to hire 3,000 employees in Asia institutional banking push

SG-based Envision Digital scores $210m in round backed by Sequoia, GIC

Envision Digital, a Singapore-headquartered AI and Internet technologies software provider, has announced raising $210 million in a Series A funding round anchored by Sequoia China and backed by GIC. The firm, which is a part of Chinese renewable energy-focused Envision Group, said in a statement on Tuesday that the fresh capital will help it accelerate… Continue reading SG-based Envision Digital scores $210m in round backed by Sequoia, GIC

J&T Express buys Malaysia land for $136m to build integrated logistics centre

J&T Express has acquired a 30-acre plot of land in Bandar Rimbayu, Selangor, Malaysia, where it will build an integrated logistics centre to serve the growing needs of the Malaysian market. According to a statement, the global express logistics company invested $136 million (600 million RM) in the project, which will help it meet the… Continue reading J&T Express buys Malaysia land for $136m to build integrated logistics centre

Bain Capital closes second APAC special situations fund at over $2b

Private investment firm Bain Capital has closed its second Asia Pacific (APAC) special situations fund at over $2 billion, surpassing the original target of $1.5 billion. Bain Capital Special Situations Asia Fund II (SSAII) is the largest dedicated special situations fund in the APAC region, the firm said in a statement. Its 2017-vintage first vehicle… Continue reading Bain Capital closes second APAC special situations fund at over $2b

Data Vantage: Ant Group pumps capital in SG digital banking unit and other updates

Fintech giant Ant Group announced the soft launch of its digital wholesale bank, ANEXT Bank, in Singapore on Monday. The unit will provide financial services to local and regional micro, small and medium enterprises (MSMEs), especially those engaged in cross-border operations. According to regulatory filings in Singapore, ANEXT Bank received S$100 million ($73.13 million) last… Continue reading Data Vantage: Ant Group pumps capital in SG digital banking unit and other updates