Chinese internet platforms must crack down on the spread of online rumours and guard their “fields of responsibility”, state media outlet the People’s Daily wrote in a commentary published Thursday. The comments come amid an ongoing regulatory tightening on technology companies. The piece’s author, Zhang Tianpei, argued that curbing online rumours was especially important in the current period of preventing the spread of the coronavirus pandemic. As the coronavirus… Continue reading Chinese Internet firms must curb online rumours, guard ‘fields of responsibility’
Author: Deal Street Asia Online News
Crypto exchange Binance ropes in former US Treasury criminal investigator
Binance said on Wednesday it had appointed a former U.S. Treasury criminal investigator as its global money laundering reporting officer, part of an attempt by one of the world’s largest crypto exchanges to reinvent itself as a regulated financial firm. Governments and financial watchdogs are paying closer attention to the cryptocurrency industry, often putting in place rules that pose a challenge… Continue reading Crypto exchange Binance ropes in former US Treasury criminal investigator
SGX said to consider lowering minimum SPAC value in final listing framework …
A logo of the Singapore Stock Exchange (SGX) is pictured outside its premises in the financial district of Singapore April 23, 2014. REUTERS/Edgar Su/Files Premium The Singapore Exchange (SGX) is said to be considering lowering the minimum value for Special Purpose Acquisition Companies (SPACs) as it finalises the framework for SPAC listings on the bourse.… Continue reading SGX said to consider lowering minimum SPAC value in final listing framework …
Billionaire Adrian Cheng’s C Ventures raises $10m for third VC fund from US investors
In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to… Continue reading Billionaire Adrian Cheng’s C Ventures raises $10m for third VC fund from US investors
500 Southeast Asia makes $17.9m initial close of latest venture fund
Premium 500 Southeast Asia (formerly 500 Durians), the Southeast Asia-focused fund of global venture capital firm 500 Startups, has raised $17.9 million so far for its latest VC fund, according to its filing with the US Securities and Exchange Commission. Go to Source
Last-mile delivery firm Airlift nets $85m — the largest ever round for a Pakistan startup
Airlift Technology, an online shopping delivery startup in Pakistan, announced raising $85 million in a Series B funding round, co-led by Harry Stebbings from 20VC and Josh Buckley from Buckley Ventures Ltd. The funding round is the largest-ever round for a Pakistani startup and is equivalent to the entire amount raised by local startups so… Continue reading Last-mile delivery firm Airlift nets $85m — the largest ever round for a Pakistan startup
China’s Tencent beats forecasts with 29% climb in Q2 profit
Chinese gaming and social media giant Tencent Holdings beat forecasts with a 29% climb in second-quarter profit, helped by an increase in takings from popular games and growth in online advertising revenue. Robust demand for games such as “Honor of Kings” and “PUBG mobile” offset a decrease in revenues from its battle royale title “Peacekeeper Elite”. Net profit for the three months through June came in… Continue reading China’s Tencent beats forecasts with 29% climb in Q2 profit
Singapore’s Pavilion Energy appoints Alan Heng as interim CEO
Singapore’s Pavilion Energy on Wednesday said that its group chief executive, Frederic Barnaud, is stepping down and will be replaced on an interim basis by Alan Heng from Aug. 26. Barnaud, who joined Pavilion as CEO from Gazprom Marketing and Trading in early 2018, is returning to Europe to be with family, the company said. “We will embark on a process to identify… Continue reading Singapore’s Pavilion Energy appoints Alan Heng as interim CEO
Elevation Capital leads funding in Yellow Class and 17 other India deal updates
Yellow Class Gurugram 6 million Series A Elevation Capital India Quotient, Titan Capital, First Cheque, Vidit Aatrey, Alok Mittal, Vivekananda Hallekere, Maninder Gulati, Abhinav Sinha, Dhruv Agarwala, Alvin Tse Education/Training EdTech UpScalio Gurugram 42.5 million Series A Presight Capital Heliad Equity Partners, MPGI, 468 Capital, Whiteboard Capital, OfBusiness, Innoven Capital, Alteria Capital, Suhail Sameer, Radhika… Continue reading Elevation Capital leads funding in Yellow Class and 17 other India deal updates
China targets 43 apps including WeChat for breaking data transfer rules
China’s Ministry of Industry and Information Technology (MIIT) said on Wednesday that 43 apps, including Tencent Holdings Ltd’s WeChat, were found to have illegally transferred user data, and ordered their parent companies to make rectifications. The move comes as Chinese authorities tighten regulatory oversight on a range of industry, with a particular emphasis on privacy… Continue reading China targets 43 apps including WeChat for breaking data transfer rules