Author: Deal Street Asia Online News

Singapore-based digital assets exchange Zipmex eyes Vietnam foray

Taking a cue from the high adoption rate of crypto-currencies in Vietnam, digital assets exchange Zipmex is planning a foray into the Southeast Asian country. The startup — backed by Thailand’s Bank of Ayudhya, among other investors — currently operates in Australia, Thailand, Indonesia, and also Singapore, where it is headquartered. The roughly 1 million… Continue reading Singapore-based digital assets exchange Zipmex eyes Vietnam foray

India’s cyber rules will “create environment of fear rather than trust”, say tech firms …

Indian cybersecurity rules due to come into force later this month will create an “environment of fear rather than trust”, a body representing top tech companies has warned the government, calling for a one-year delay before the rules take effect. The Internet and Mobile Association of India (IAMAI), which represents firms including Facebook, Google, and Reliance, wrote… Continue reading India’s cyber rules will “create environment of fear rather than trust”, say tech firms …

Alibaba’s Southeast Asian arm Lazada appoints James Dong as CEO

Lazada, Alibaba’s Southeast Asian arm, appointed James Dong as chief executive officer on Friday as the Chinese e-commerce giant seeks to expand abroad in the face of tight competition at home. Dong joined Lazada in 2018 to lead its Thailand and Vietnam businesses. He was previously the head of globalization strategy and corporate development at Alibaba. In April, Reuters reported that… Continue reading Alibaba’s Southeast Asian arm Lazada appoints James Dong as CEO

Waiting period for Elon Musk’s deal has expired, says Twitter

Twitter Inc said on Friday the waiting period under the HSR Act for Elon Musk’s $44-billion acquisition of the social media firm has expired. Completion of the deal is now subject to remaining customary closing conditions, including approval by Twitter stockholders and the receipt of applicable regulatory approvals, Twitter said. The HSR Act, or the… Continue reading Waiting period for Elon Musk’s deal has expired, says Twitter

Asia Digest: Korean chipmaker Rebellions nets $50m, FTX launches in Japan

South Korean AI semiconductor startup Rebellions has raised $50 million; while cryptocurrency exchange FTX has launched its services in Japan. Temasek-backed Pavilion invests in S Korea’s Rebellions Rebellions, an artificial intelligence (AI) semiconductor startup, has announced raising $50 million in a Series A round backed by Pavilion Capital, a Temasek-backed venture capital investor. The Series… Continue reading Asia Digest: Korean chipmaker Rebellions nets $50m, FTX launches in Japan

Japan’s Toshiba receives eight proposals to go private

Toshiba Corp, the troubled Japanese conglomerate exploring strategic options, said it has received eight initial proposals to take it private as well as two proposals for capital alliances that would see it remain listed. The news comes amid recent signs that Toshiba, which has long been at loggerheads with its large activist shareholder base, is growing more… Continue reading Japan’s Toshiba receives eight proposals to go private

Investors sound a note of caution amid Indonesia’s quick commerce gold rush

Quick commerce startups in Indonesia have been on a fundraising blitzkrieg even as the overall tech sector is reeling under severe fund crunch amid geopolitical tensions and rising inflation. The industry has attracted funding worth over $100 million in the past six months as startups such as Astro, Dropezy, Bananas and Radius, among others, jostle… Continue reading Investors sound a note of caution amid Indonesia’s quick commerce gold rush

IFC, HSBC propose $600m investment to boost trade finance in emerging markets

International Finance Corporation (IFC), a member of the World Bank Group, and HSBC Bank have proposed to jointly invest $600 million to boost trade finance in emerging markets during crisis, according to a disclosure. The proposed investment is a 50-50 risk-sharing facility in a portfolio of trade-berated assets. The portfolio will be consisting of emerging… Continue reading IFC, HSBC propose $600m investment to boost trade finance in emerging markets

Indonesia’s Amartha targets jump in loans to microbusinesses

Peer-to-peer lender Amartha aims to double the amount of loans it channels to women running microbusinesses in rural Indonesia to about 13 trillion rupiah ($894 million) by 2025, the startup’s founder told Nikkei Asia in a recent interview. Amartha runs an online marketplace that channels capital from urban investors to female microentrepreneurs in the form… Continue reading Indonesia’s Amartha targets jump in loans to microbusinesses