The recent crash in bitcoin prices has thrown a spanner in the works of another would-be crypto miner in Thailand. SCI Electric Plc, which had approved an investment of 140 million baht ($4.1 million) in the bitcoin mining business through its subsidiary SCI Venture Company Ltd, has decided to postpone its plans for now. Mining… Continue reading Thailand’s SCI Electric shelves $4m bitcoin mining plans …
Category: Tech News
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GoTo’s losses expand in Q1 2022 even as gross revenue sees 53% growth
Indonesia-listed technology major PT GoTo Gojek Tokopedia (GoTo Group) has reported a wider loss in the first three months of 2022 despite a 53% growth in gross revenue compared with the corresponding period a year earlier, prompting the company to increase its focus on steps to boost margins and cost-cutting. Its losses in the January-March… Continue reading GoTo’s losses expand in Q1 2022 even as gross revenue sees 53% growth
The four-day week will solve some of work’s biggest problems – but only if companies can adapt
Image: Hinterhaus Productions/Getty Knowledge workers have made up their minds about how they want work to look from now on. For most, that means not having to drag themselves out of bed and into an office five days a week – or at all, in some cases. But location is only one part of the… Continue reading The four-day week will solve some of work’s biggest problems – but only if companies can adapt
Tesla and others lobby for federal funding of charging infrastructure for electric trucks
Tesla, along with other EV companies and environmental groups, is lobbying for some of the federal funding going to EV charging infrastructure to be used to deploy charging stations for electric trucks. Last year, the US legislature approved a new infrastructure bill that included $7.5 billion in funding for electric vehicle charging infrastructure. The officials… Continue reading Tesla and others lobby for federal funding of charging infrastructure for electric trucks
Google backs India’s ShareChat in $300m funding round, startup valued at $5b …
The parent company of India’s ShareChat has raised nearly $300 million in fresh funding from Alphabet Inc’s Google, media giant Times Group and Singapore’s Temasek Holdings, valuing the social media firm at nearly $5 billion, two sources involved in the deal discussions told Reuters. A deal is set to be announced as early as next week, the… Continue reading Google backs India’s ShareChat in $300m funding round, startup valued at $5b …
Seek Pet raises $75m and 21 more deal updates from Greater China worth $263m
Seek Pet, a Chinese provider of pet food, has raised nearly 500 million yuan ($75 million) in a pre-IPO funding round to build new factories and expand its R&D and product testing facilities. The new round was led by private equity (PE) firm Boyu Capital and Confitop Capital, an investment platform backed by Shanghai’s state-owned… Continue reading Seek Pet raises $75m and 21 more deal updates from Greater China worth $263m
India: IFC proposes $100m debt investment in Manappuram Finance
The International Finance Corporation (IFC), a part of the World Bank Group, has proposed a debt investment of up to $100 million in Manappuram Finance Limited (MFL), it said in a disclosure. IFC will invest via three-year non-convertible debentures (NCDs) to be issued by MFL. The investment will help MFL support underserved individuals in the… Continue reading India: IFC proposes $100m debt investment in Manappuram Finance
India’s Tata Motors looks to buy Ford plant in Gujarat for electric vehicle push
Indian automaker Tata Motors Ltd has signed an agreement to potentially buy a Ford Motor manufacturing facility in the western state of Gujarat as it looks to ramp up its production of electric vehicles. The owner of Jaguar Land Rover already dominates India‘s fledgling electric car market, which the government is trying to grow by offering companies billions of dollars in incentives. The memorandum of understanding announced on Monday… Continue reading India’s Tata Motors looks to buy Ford plant in Gujarat for electric vehicle push
Baring completes Ginko take-private, values Chinese contact lens maker at $1b
Hong Kong-based buyout firm Baring Private Equity Asia announced on Monday the closing of its investment in Ginko International, one of the biggest contact lens producers in China, in a take-private deal that valued the firm at $1 billion. Baring, which has $21 billion in fee-paying assets under management (FPAUM), said in a statement that… Continue reading Baring completes Ginko take-private, values Chinese contact lens maker at $1b
Fullerton Fund Management raises $100m as it carves out first Thai PE strategy …
Temasek-linked Fullerton Fund Management has raised $100 million in a first close as it carves out its first Thai private equity (PE) strategy, per an announcement. The firm said it has partnered with KBank Private Banking, Hatton Equity Partners, and Land and House Asset Management to launch this first-ever Thailand-focused PE strategy that is accessible… Continue reading Fullerton Fund Management raises $100m as it carves out first Thai PE strategy …