The crypto winter is into its ninth week and bitcoin can’t shake the chills. From technicals to turnover, market indicators are flashing red or amber for the biggest cryptocurrency, which has lost a third of its value in just two months. So what now? Bitcoin‘s limited history isn’t much of a guide on crypto winters, which we’re defining as prolonged… Continue reading Bitcoin loses a third of its value in just two months
Author: Deal Street Asia Online News
SoftBank-backed logistics startup Delhivery valued at $4.9b in India debut …
Shares of Delhivery, an Indian logistics startup backed by SoftBank Group, rose as much as 7.6% in their market debut on Tuesday, giving the company a valuation of 379.60 billion rupees ($4.89 billion). The Gurugram-based company’s services include parcel transportation, warehousing, cross-border and supply chain services to more than 23,000 customers, and counts popular e-commerce sites… Continue reading SoftBank-backed logistics startup Delhivery valued at $4.9b in India debut …
GIC to invest $283m for 7.5% stake in India’s Aditya Birla Fashion and Retail …
Aditya Birla Fashion and Retail Limited (ABFRL) Tuesday said that its board has approved raising of up to $283 million (Rs.2,195 crore) from an affiliate of GIC, Singapore’s sovereign wealth fund. ABFRL will raise the aforementioned amount by way issue of preferential issuance of equity and warrants, it said in a press statement. GIC will invest… Continue reading GIC to invest $283m for 7.5% stake in India’s Aditya Birla Fashion and Retail …
Switzerland’s ZoodPay enters Pakistan with acquisition of digital lender Tez
Karachi-based Tez Financial Services (Tez) has been fully acquired by ZoodPay, a Switzerland-based buy now pay later (BNPL) platform that has operations mainly in the Middle East and Central Asia. Tez’s valuation during the acquisition is confidential. Tez — backed by Planet N, Flourish Ventures (Omidyar Network), and Accion among others — was the first… Continue reading Switzerland’s ZoodPay enters Pakistan with acquisition of digital lender Tez
Chinese regulators vow to keep property sector credit growth stable
China‘s financial regulators pledged to keep credit growth stable in the property sector and help homebuyers affected by COVID-19 outbreaks to defer their mortgage payments, the central bank said in a statement on Tuesday. Yuan loan growth tumbled in April as the pandemic jolted the economy and weakened credit demand, official data showed earlier this month. Household loans, including mortgages, contracted by 217 billion yuan ($32.6 billion), pointing… Continue reading Chinese regulators vow to keep property sector credit growth stable
Samsung to invest $356b over five years to push up growth in strategic sectors
Samsung Group will invest 450 trillion won ($356 billion) in the next five years to accelerate growth in semiconductors, biopharmaceutical and other next-generation technologies, Samsung Electronics said. South Korea’s top conglomerate said on Tuesday the investments through 2026 are expected to help Samsung drive long-term growth in strategic areas such as the chip sector, while pledging aggressive investments in the biopharmaceutical sector to make it as successful as its chip… Continue reading Samsung to invest $356b over five years to push up growth in strategic sectors
Weibo bans Trip.com co-founder who questioned China’s zero-COVID strategy
A leading entrepreneur in China who had questioned the wisdom of the country’s zero–COVID strategy was banned from posting on Weibo, with the social media platform accusing Trip.com co–founder James Liang of violating laws. Weibo, a platform similar to Twitter, did not specify which laws Liang had broken, and it was unclear when the ban took effect or what had triggered it. But on Tuesday, online users… Continue reading Weibo bans Trip.com co-founder who questioned China’s zero-COVID strategy
Advent International raises $25b for 10th global PE fund
Private equity major Advent International announced that it has raised a total of $25 billion for its flagship fund, Advent International GPE X, after less than six month in the market. The fund, which reached its hard cap, is Advent’s largest ever fundraise and brings the firm’s total assets under management to over $100 billion.… Continue reading Advent International raises $25b for 10th global PE fund
Cathay Capital sets up $533m global health fund Cathay Health
Global investment firm Cathay Capital has set up Cathay Health, a 500-million-euro ($533.4 million) global fund dedicated to investing in the convergence of healthcare, life sciences, and technology. The new fund will focus on venture- to growth-stage companies across Europe, North America, and Asia whose “innovative tech-enabled products will catalyse groundbreaking advances in medicine,” Cathay… Continue reading Cathay Capital sets up $533m global health fund Cathay Health
Värde Partners to sell 31.7% stake in Greek mall owner for $116.3m
Global alternative investment firm Värde Partners, an active investor in the Asia-Pacific region, will sell a 31.7% stake in Lamda Malls to its majority shareholder Lamda Development for €109 million ($116.3 million), according to a statement on Tuesday. Lamda Malls owns two major shopping centres in Greece — the Golden Hall in Athens as well as… Continue reading Värde Partners to sell 31.7% stake in Greek mall owner for $116.3m