If you’re waiting for the hubbub over generative AI to die down, maybe pull up a chair. The buzz around artificial intelligence shows no signs of quieting—a fact that will become all too obvious at this year’s CES. CES, the consumer electronics industry’s largest annual gathering in the US, is returning to Las Vegas on… Continue reading CES 2024 Preview: Get Ready for a ‘Tsunami’ of AI
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EV startup Faraday Future’s sinking share price prompts Nasdaq noticeThe firm has until June 25 to regain compliance by lifting its stock price over t…
Faraday Future Intelligent Electric got a notice from the Nasdaq exchange on Thursday over its failure to comply with listing rules that require a minimum closing share price of $1, the electric-vehicle startup disclosed in a filing. The firm, whose shares closed at 26 cents on Thursday, has until June 25 to regain compliance by lifting its… Continue reading EV startup Faraday Future’s sinking share price prompts Nasdaq noticeThe firm has until June 25 to regain compliance by lifting its stock price over t…
China’s Sichuan Airlines to get $1.7b capital infusion from shareholders
China’s Sichuan Airlines will receive a capital contribution of 12 billion yuan ($1.69 billion) from its shareholders in a bid to supplement working capital and reduce financial security risks, major investor China Southern Airlines said on Friday. China Southern, the country’s largest airline, will invest a total of 4.68 billion yuan in Sichuan Airlines, it said in an exchange filing. Additionally, China Southern will also transfer one Airbus A330-300 aircraft for around 485 million yuan.… Continue reading China’s Sichuan Airlines to get $1.7b capital infusion from shareholders
DBS to raise stake in China’s Shenzen Bank in $285m deal
DBS Group Holdings said on Friday it was raising its stake in China’s Shenzhen Rural Commercial Bank in a S$376 million ($284.72 million) deal, as it looks to tap into growing opportunities in the Greater China region. DBS Bank, a unit of Southeast Asia’s largest lender, will increase its stake in the unlisted Chinese bank to 16.69% from 13%. The bank will acquire 383.6 million shares at 5.52 yuan… Continue reading DBS to raise stake in China’s Shenzen Bank in $285m deal
China’s BNBM to buy 78% stake in paint company for $573m
Chinese construction material company Beijing New Building Materials (BNBM) has agreed to buy a 78.34% stake in paint and coating manufacturer Carpoly Chemical Group for 4.07 billion yuan ($573 million). The transaction, pending review by the Chinese anti-monopoly watchdog, is expected to boost BNBM’s paint and coating business, which is currently limited to the northern Chinese market, BNBM said in a filing to the Shenzhen stock exchange on Friday. Making… Continue reading China’s BNBM to buy 78% stake in paint company for $573m
JD.com wins antimonopoly lawsuit against rival Alibaba
Chinese online retailer JD.com said on Friday that it won a lawsuit against rival Alibaba, which was fined 1 billion yuan ($140.68 million) for monopolistic practices. The High People’s Court of Beijing ruled that Alibaba Group Holding Limited along with Zhejiang Tmall Network Co and Zhejiang Tmall Technology Co had abused their market dominance and adopted monopolistic practices… Continue reading JD.com wins antimonopoly lawsuit against rival Alibaba
Indian solar panel maker Waaree Energies to raise $361m in IPO
India’s Waaree Energies filed for an initial public offering to raise 30 billion rupees ($361 million), its draft papers showed on Friday. The country’s top solar panel maker joins a rush of companies filing IPOs, including e-tailer FirstCry and electric scooter-maker Ola Electric, amid a record number of listings this year. Companies are barreling to capitalise on high… Continue reading Indian solar panel maker Waaree Energies to raise $361m in IPO
How Vietnam’s Sky Mavis changed the rules of the game after Ronin attack
Hundreds of Axie Infinity gamers braved a cold November rain, gathering in Manila to down shots of whiskey, pile into photo booths and, of course, play the crypto game, which had once promised to shake up the world of both video games and blockchain. Go to Source
Chinese cloud giants look abroad as profits wane in saturated home market
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Indonesia’s Antam sells $467m shares in two subsidiaries to China’s CATL
Indonesian miner Aneka Tambang has sold shares worth $467.18 million in two of its subsidiaries to a unit of the world’s biggest electric vehicle battery maker, China’s Contemporary Amperex Technology Co (CATL). In a disclosure published late on Thursday, Aneka Tambang, known as Antam, said it made the sales to Ningbo Contemporary Brunp Lygend Co Ltd (CBL) through the latter’s Hong Kong unit. CBL is a holding subsidiary of CATL… Continue reading Indonesia’s Antam sells $467m shares in two subsidiaries to China’s CATL