World Bank Group member International Finance Corporation (IFC) has proposed to extend up to $40 million in senior unsecured loans to Dutch Bangla Bank Limited (DBBL), one of the largest banks in Bangladesh. In a disclosure, IFC said the proposed investment is a 3-year senior unsecured loan with an annual amortizing and an unfunded facility… Continue reading IFC weighs $40m senior loan for Bangladeshi lender Dutch Bangla Bank
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GLP’s China logistics Fund IV hits $1.2b in first close
GLP, a global real estate logistics giant, has notched up $1.2 billion for the initial closing of its fourth China value-add logistics fund, accounting for 46% of its $2.6-billion fund size. Sponsoring GLP China Value-Add Partners IV (GLP CVA IV) were GLP’s long-term institutional investment partners, including APG Asset Management, the investment vehicle of an… Continue reading GLP’s China logistics Fund IV hits $1.2b in first close
Mazda to invest $11b by 2030 to electrify its vehicles, boost battery production
Japan’s Mazda Motor Corp. will invest about $10.58 billion to electrify its vehicles, including boosting production of battery EVs, and aims to increase their share in the company’s overall global car sales by 2030. Mazda’s senior managing executive officer Akira Koga said the investment would be made along with its “partners”, without elaborating, and will… Continue reading Mazda to invest $11b by 2030 to electrify its vehicles, boost battery production
Musk antagonist George Hotz hired to fix Twitter search — he’s got 12 weeks
/ The former iPhone hacker and self-driving car developer wants to fix Twitter’s search and get rid of the login prompt. So he’s accepted a 12 week ‘internship.’ Hotz demonstrating his former company’s advanced driver assistance technology.Photo by Michael Zelenko / The Verge George Hotz, the noted iPhone hacker who was reported to have once… Continue reading Musk antagonist George Hotz hired to fix Twitter search — he’s got 12 weeks
Leta, a Kenyan supply chain and logistics SaaS provider, raises $3M to scale in Africa
Leta, a Kenyan B2B supply chain and logistics SaaS provider launched last year to optimize fleet management, is looking for growth opportunities in West Africa, even as it scales operations in its existing five markets. Leta’s proprietary route and load optimization technology is designed to boost efficiency in the delivery of goods to customers, and… Continue reading Leta, a Kenyan supply chain and logistics SaaS provider, raises $3M to scale in Africa
Faraday Future warns it may not be able to deliver its luxury EV
Electric vehicle startup-gone-SPAC Faraday Future has raised a going concern warning, per regulatory filings. The company said it has substantial doubt as to whether it would be able to continue operating over the next year, adding that it is uncertain when it will dispatch first deliveries of its FF 91 luxury EVs. This isn’t the… Continue reading Faraday Future warns it may not be able to deliver its luxury EV
Twitter is reportedly done with job cuts and has started hiring again
Twitter won’t be firing and laying off more people, Elon Musk reportedly told the staff members who remained after asking employees to commit to an “extremely hardcore” Twitter during an all-hands meeting. According to The Verge, which heard a partial recording of the event, the company is even actively looking for people to fill roles… Continue reading Twitter is reportedly done with job cuts and has started hiring again
Indonesian employee benefit platform Venteny lines up $27m IPOThe startup booked a profit for the first time in H1 2022.
Close on the heels of churning out a profit, Indogen Capital-backed employee benefit and fintech solutions company PT Venteny Fortuna International (Venteny) is targeting to raise 423 billion rupiah ($27 million) in a domestic initial public offering (IPO). According to a prospectus published on Monday, the Indonesian startup plans to release 939 million shares, or… Continue reading Indonesian employee benefit platform Venteny lines up $27m IPOThe startup booked a profit for the first time in H1 2022.
Carlyle bullish on Japanese auto industry as EV shift shakes supply chainsCarlyle aims to enlarge its footprint in the Japanese automotive sector.
U.S. private equity firm Carlyle Group Inc aims to enlarge its footprint in the Japanese automotive sector as the global shift to electric vehicles (EVs) shakes the industry’s supply chain, its executives said. With the world quickly moving to EVs, Japanese auto parts suppliers are reviewing strategies that were traditionally tailored for combustion-engine cars, Reiji… Continue reading Carlyle bullish on Japanese auto industry as EV shift shakes supply chainsCarlyle aims to enlarge its footprint in the Japanese automotive sector.
People Digest: Everstone’s Atul Phull joins UBS; Vantage Capital Markets, AXA IM Alts announce key hires
Everstone Group’s managing director has joined UBS as an executive director. Separately, global brokerage and investment bank Vantage Capital Markets has appointed Federico Bazzoni as CEO of investment banking, while AXA IM Alts has appointed Lu Gao as head of Client Group Alts Asia. Phull to focus on SE Asia, Australia at UBS Atul Phull,… Continue reading People Digest: Everstone’s Atul Phull joins UBS; Vantage Capital Markets, AXA IM Alts announce key hires