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
Category: Tech News
Category Added in a WPeMatico Campaign
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
Brazil’s Kovi closes $104M Series B to make car ownership ‘more inclusive’ in LatAm
We sometimes take for granted that most anyone who wishes to become say, an Uber driver, can do so. But that assumption is a narrow view considering there are many people who would love to earn income in that way but can’t because of lack of car ownership (and all that goes with it) —… Continue reading Brazil’s Kovi closes $104M Series B to make car ownership ‘more inclusive’ in LatAm
RaRa Delivery gets $3.25M for its ambitious on-demand delivery plans in Indonesia
RaRa Delivery’s ambitious goal is to offer same-day deliveries in Indonesia without burning cash like many on-demand logistics providers. The company announced today it has raised $3.25 million in seed funding led by Sequoia Capital India’s Surge program and East Ventures. Other participants included 500 Startups, Angel Central, GK Plug and Play and angel investors… Continue reading RaRa Delivery gets $3.25M for its ambitious on-demand delivery plans in Indonesia
Spectrum TV is back on Roku devices over half a year after it was pulled
Charter Spectrum customers found themselves unable to download the Spectrum TV app from Roku’s Channel Store if they hadn’t done so before back in December. The two companies were unable to come to an agreement on the renewal of their contract, and it led Roku to pull the app from its store to prevent new… Continue reading Spectrum TV is back on Roku devices over half a year after it was pulled
Permira mandates Goldman Sachs for up to $2b sale of business services firm Tricor …
Private equity firm Permira has mandated Goldman Sachs to run a sale of business services company Tricor Group in a deal that could fetch up to $2 billion, three people with knowledge of the transaction told Reuters. The sale process is expected to kick off soon after an initial gauge of market interest, said one of the… Continue reading Permira mandates Goldman Sachs for up to $2b sale of business services firm Tricor …
China’s Baidu launches US dollar bond amid regulatory uncertainty at home
Chinese internet giant Baidu Inc is tapping debt markets with a two-tranche, U.S. dollar sustainability bond in a deal that could test global investor appetite for China tech assets as Beijing cranks up regulatory scrutiny. The search company on Wednesday launched a 5.5 year and 10-year U.S. dollar fixed rate senior unsecured sustainable notes transaction. It didn’t… Continue reading China’s Baidu launches US dollar bond amid regulatory uncertainty at home
Philippine supermarket operator AllDay Mart files to raise $119m in IPO
Philippine supermarket operator, AllDay Marts Inc, has filed for an up to 6 billion pesos ($119 million) initial public offering (IPO), the corporate regulator said on Wednesday, adding to a robust pipeline of share sales on the country’s bourse. AllDay Mart is planning to sell up to 7.5 billion shares, including the over-allotment option, at… Continue reading Philippine supermarket operator AllDay Mart files to raise $119m in IPO