Imagine Marketing Limited, the parent company of audio products and wearables brand boAt, Friday announced that it is raising about $60 million (Rs 500 crore) from its existing shareholder, an affiliate of private equity fund Warburg Pincus, and new investor Malabar Investments. According to a report in The Economic Times, the company has also withdrawn… Continue reading Warburg Pincus affiliate, Malabar invest $60m in Indian wearables brand boAt
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China expands list of sectors for foreign investment, focusing on manufacturing
China‘s state planner on Friday issued the 2022 list of sectors for foreign investment, which has been expanded to encourage foreign capital to flow into manufacturing sectors in a bid to improve industrial and supply chains. The new list, with the number of industries expanding to 519 from 480 in the last publication of eligible sectors in 2020,… Continue reading China expands list of sectors for foreign investment, focusing on manufacturing
Telenor to provide support for customers of former Myanmar unit
Norway’s Telenor said on Friday it is exploring ways to provide support to Myanmar telecom users facing digital security risks after its exit from the Southeast Asian nation this year. Following a military coup in Myanmar in 2021, Telenor announced the sale of its business there to avoid European Union sanctions after pressure from the junta to activate intercept surveillance technology.… Continue reading Telenor to provide support for customers of former Myanmar unit
EU approves effective ban on new combustion engine cars from 2035
/ Cars and vans built after 2030 will also have to reduce emissions by at least 50 percent compared to 2021 levels. Photo by RONNY HARTMANN/AFP via Getty Images European Union lawmakers have reached a political agreement on legislation that will effectively ban the production of new combustion engine cars and vans from 2035. As… Continue reading EU approves effective ban on new combustion engine cars from 2035
SpaceX gears up for Falcon Heavy’s first flight since 2019 with a static fire test
SpaceX is on track to launch the Falcon Heavy for the first time in three years after it successfully put the heavy-lift launch vehicle through a static fire test. The private space corporation has announced the test’s successful completion on Twitter, along with a photo of the rocket as it breathes out fire and smoke… Continue reading SpaceX gears up for Falcon Heavy’s first flight since 2019 with a static fire test
Redmi’s latest phone can be fully charged in nine minutes
Over the years, we’ve seen smartphone charging speeds going from the already-impressive 30 minutes down to 15 minutes, but apparently that’s still too slow for Xiaomi. In the new Redmi Note 12 lineup unveiled earlier today, one model dubbed “Redmi Note 12 Discovery Edition” stood out with a whopping 210W HyperCharge capability. This feature is… Continue reading Redmi’s latest phone can be fully charged in nine minutes
Minnesota and DC sue Target-owned Shipt delivery service for worker misclassification
The Minnesota and District of Columbia attorneys general are suing Target-owned Shipt delivery service over worker misclassification, CBS News has reported. The lawsuits accuse the company of designating its “personal shoppers” (who pick and deliver grocery orders) as independent contractors to avoid paying benefits like state unemployment insurance and worker’s compensation. “Increasingly, we’re seeing companies… Continue reading Minnesota and DC sue Target-owned Shipt delivery service for worker misclassification
India-focused PE Jashvik Capital holds first close of $350m maiden fundJashvik Capital launched the fund in July and expects to close within a year.
India-focused private equity firm Jashvik Capital has scored the first close of its maiden $350 million fund, according to various media reports. The fund is understood to be scouting for profitable growth businesses in the healthcare, pharma and consumer sectors. Jashvik Capital anticipates to close its inaugural fund, which was announced in July, within a year.… Continue reading India-focused PE Jashvik Capital holds first close of $350m maiden fundJashvik Capital launched the fund in July and expects to close within a year.
KKR said to have raised $6b for biggest Asia infrastructure fund
KKR & Co Inc has raised nearly $6 billion for its second Asia Pacific infrastructure fund at the first-close, marking the biggest ever private equity fundraising for the sector in the region, two sources familiar with the matter told Reuters. The record commitments to the fund just seven months after its launch underscores investors’ appetite to buy into diversified infrastructure assets at a time when soaring inflation and higher… Continue reading KKR said to have raised $6b for biggest Asia infrastructure fund
Shanghai food supplier’s books reveal big profits under COVID crisis
The profitability surge of a Shanghai food supplier seeking a Hong Kong listing, disclosed in an exchange filing, gives a rare peep under the hood into a cohort of Chinese companies that have benefited from President Xi Jinping’s zero-COVID policy. Pang Pang Xiang (China) Company Ltd saw its gross profit margin surge to more than 50% in January-May, compared with roughly… Continue reading Shanghai food supplier’s books reveal big profits under COVID crisis