/ In the choice between foldable and slidable, Samsung asks ‘Why not both?’ The left side of the Flex Hybrid folds, the right side slides.Image: Samsung Display Samsung Display’s Flex Hybrid is a new prototype device with a display that’s both foldable and slidable. The left side of the concept “smart mobile device” can be… Continue reading Samsung Display’s latest foldable concept can both slide and fold
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Indonesia rail company gets $205m capital infusion for China-backed projectThe capital top up will partially finance rising costs to build a 142-km hi…
Indonesia’s state-owned railway firm PT KAI said on Tuesday it has received a 3.2 trillion rupiah ($205.33 million) capital injection from the government to help a consortium of Indonesian and Chinese state companies complete a high-speed rail project. The capital top up will partially finance rising costs to build a 142-km (88.23 miles) high-speed rail… Continue reading Indonesia rail company gets $205m capital infusion for China-backed projectThe capital top up will partially finance rising costs to build a 142-km hi…
China securities regulator to check brokers’ financing needs after Huatai share plan
China’s securities regulator said it would fully check securities firms’ financing needs after Huatai Securities Co Ltd proposed a share placement plan that would be one of the biggest in China’s brokerage industry. The China Securities Regulatory Commission (CSRC) in a statement on Tuesday said it will fully pay attention to the necessity for, and… Continue reading China securities regulator to check brokers’ financing needs after Huatai share plan
Dubai regulator upholds $136m fine on founder of beleagured PE firm Abraaj
Dubai’s financial regulator said on Tuesday it upheld a $135.6 million fine on collapsed private equity firm Abraaj Group’s founder and former CEO Arif Naqvi “for his serious failings” in respect of the company. Dubai-based Abraaj was the largest buyout fund in the Middle East and North Africa until it collapsed in 2018 after investors… Continue reading Dubai regulator upholds $136m fine on founder of beleagured PE firm Abraaj
Indian payments firm BharatPe’s CEO latest to resign in a slew of high-profile exits
Indian payments startup BharatPe on Tuesday said its Chief Executive Officer Suhail Sameer has stepped down, the latest in a slew of high-profile exits at the Sequoia-backed company. Founded in 2018, BharatPe, which competes with apps such as SoftBank’s Paytm and Google Pay in India’s booming online payments market, was regarded as one of India’s… Continue reading Indian payments firm BharatPe’s CEO latest to resign in a slew of high-profile exits
Asia Digest: Gojek launches new ride-hailing services in SG; Quest Global partners with TomTom
Indonesian superapp operator Gojek has launched GoCar Kids and GoCar XL Kids in Singapore, while engineering services firm Quest Global has teamed up with TomTom. Gojek drives in kids-friendly vehicles Indonesian superapp operator Gojek is launching GoCar Kids and GoCar XL Kids in Singapore, expanding its transport offering in the city-state, according to an announcement.… Continue reading Asia Digest: Gojek launches new ride-hailing services in SG; Quest Global partners with TomTom
China’s Orient Jiafu hits final close of fourth venture fund at $145mThe firm said over 60% of its existing LPs re-upped in the new venture fund.
Chinese investment firm Orient Jiafu has held the final close of its new technology venture fund at 1 billion yuan ($145.3 million). As the firm’s fourth venture fund, the vehicle secured capital commitments from China’s government-guided industry investment funds, state capital investors, privately-run investment companies, financial institutions, and listed companies, said Orient Jiafu in a… Continue reading China’s Orient Jiafu hits final close of fourth venture fund at $145mThe firm said over 60% of its existing LPs re-upped in the new venture fund.
Thai fashion platform Pomelo upsizes Series D target to $50m in possible down round
Thailand’s online fashion platform Pomelo has upsized the fundraising target of its Series D round to $50 million, according to a recent filing with Singapore’s Accounting and Corporate Regulatory Authority. The e-commerce startup had received approval from its board in July to raise up to $20 million in a Series D round, which was first… Continue reading Thai fashion platform Pomelo upsizes Series D target to $50m in possible down round
2023 crucial for home delivery, debt repayment: Evergrande chairman
This will be a “crucial year” for China Evergrande Group to fulfil home delivery to buyers, company Chairman Hui Ka Yan said in a letter to employees on New Year’s Day, adding he trusted the firm would be able to repay all its debt. Saddled with over $300 billion in liabilities and undergoing a debt… Continue reading 2023 crucial for home delivery, debt repayment: Evergrande chairman
Indian state-run firms to stay exempt from public shareholding norms
Indian state-run companies will continue to be exempt from the minimum public shareholding (MPS) norm that requires listed companies to maintain a 25% public shareholding, a government notification said late on Monday. The exemptions from the MPS norm will be valid for a “specified period” even if there is a change in ownership or control… Continue reading Indian state-run firms to stay exempt from public shareholding norms