TenX Keane Acquisition, a China-based, Asia-focused blank cheque company, has raised $60 million in its initial public offering (IPO) in the US, its amended filing with the Securities and Exchange Commission (SEC) showed. The special purpose acquisition company (SPAC) offered 6 million units at $10 each, with every unit consisting of one share of common… Continue reading Asia-focused SPAC TenX Keane raises $60m in US IPO
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China mulls easing short-term trading rules for foreign mutual funds
China‘s securities regulator is considering easing rules for overseas mutual funds when short–term trading in China-listed A-shares, in a bid to attract foreign investment, the Shanghai Securities News reported on Sunday. Currently, funds holding 5% or more of a China-listed company must give up gains from short–term trading – defined as selling shares within six months of purchase, or buying shares within six months of sales, according to China‘s securities law. However, regulators determine short–term trading based on holdings… Continue reading China mulls easing short-term trading rules for foreign mutual funds
Why Cruise is making its own chips, and a lot more besides
Cruise never planned to make its own silicon. But in the quest to commercialize robotaxis — and make money doing it — those never planned pursuits can suddenly seem a lot more appealing. Cruise realized that the price of chips from suppliers was too high, the parts were too big and the reliability of the… Continue reading Why Cruise is making its own chips, and a lot more besides
Private credit reaches ‘tipping point’ in Asia as growth in western economies stallsThe private credit market is expected to grow from an estimated $1…
Private credit may have reached a tipping point in Asia as alternative asset managers flock to this fast-growing asset class, snatching shares from traditional banks and providing much-needed bloodline to the region’s COVID-ridden businesses. During a panel discussion at DealStreetAsia’s Asia PE-VC Summit 2022 in Singapore, seasoned alternative asset investors pointed to “a sea change”… Continue reading Private credit reaches ‘tipping point’ in Asia as growth in western economies stallsThe private credit market is expected to grow from an estimated $1…
The LP View: India’s medium-term growth outlook remains robust, investments to grow
Even as fears of an economic slowdown are looming large on India, the International Finance Corporation (IFC), the private sector investment arm of the World Bank Group, is bullish on the country’s growth prospects in the medium term. “India’s medium-term growth outlook remains robust, and investments are expected to grow… the country has a large… Continue reading The LP View: India’s medium-term growth outlook remains robust, investments to grow
Honda’s US dealers keen to be part of Sony Honda venture’s EV launch plans
A new joint venture formed by Japan’s Sony Group Corp and Honda Motor plans to introduce a premium electric vehicle later this decade, and the automaker’s U.S. dealers are anxious to be part of the sales process. Sony Honda Mobility said on Thursday it was aiming to deliver the first of the unnamed EV by 2026, starting in the United States, and will sell them online. The success of Tesla… Continue reading Honda’s US dealers keen to be part of Sony Honda venture’s EV launch plans
Vietnam’s VinFast recalls a third of its sold EVs to replace sensors
Vietnam’s VinFast said on Saturday it would recall 730 of its model VF e34 electric cars (EVs), which are available only on the domestic market, to make checks and replace their side crash sensors. VinFast, which began operations in 2019, is a unit of Vietnam’s biggest conglomerate Vingroup and has sold 2,208 EVs in total since its launch late last year. “The side crash sensor of the airbag system equipped… Continue reading Vietnam’s VinFast recalls a third of its sold EVs to replace sensors
S Korean President calls for quick resumption of popular messaging, portal services
South Korean President Yoon Suk-yeol on Sunday called for swift measures to resume all services offered by Kakao Corp and Naver Corp, a day after a fire at a data centre damaged their servers and caused outages. Service disruptions, some of which continued into Sunday, hit some of the country’s most-used apps and websites, including Kakao messenger and the… Continue reading S Korean President calls for quick resumption of popular messaging, portal services
New European Political Party Is Led by an Artificial Intelligence
Introducing: The Synthetic Party, a new political party in Denmark that hopes to soon have a parliament seat. Oh, and by the way, its head honcho, Leader Lars, is actually an AI chatbot, and all of its policies are AI-derived. Cool? Asker Staunæs, the creator of the party and an artist-researcher at the nonprofit art… Continue reading New European Political Party Is Led by an Artificial Intelligence
Sneaky Students Using AI to Write Their Papers For Them
Kids? Being better at technology than adults? We’re shocked. Honor Code Tech-savvy students are reportedly getting straight As by using advanced language generators — mainly OpenAI’s wildly advanced GPT-3, according to Motherboard — to write papers for them. And as these AI-written responses can’t be detected by plagiarism software, schools are likely to have a… Continue reading Sneaky Students Using AI to Write Their Papers For Them