Malaysia is expected to announce a plan for the sale of a 70% equity stake in the state-run 5G agency to six companies by next week, Communications and Multimedia Minister Annuar Musa said on Thursday. The Malaysian government had aimed to wrap up discussions on the stake sale in Digital Nasional Berhad by the end of June.… Continue reading Malaysia to announce plan for equity sale in 5G agency next week
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HSBC to relaunch India private banking business within a year
HSBC Holdings PLC plans to relaunch its India private banking business within a year, its India CEO told Reuters on Thursday, after the Asia-focused lender has identified the country as a key strategic market for growth. HSBC exited the Indian private banking business in 2015 as part of a group strategy. The lucrative but very competitive Indian… Continue reading HSBC to relaunch India private banking business within a year
Japan’s Kirin exits Myanmar business with military-linked partner
Japanese drinks company Kirin Holdings will sell its stake in a Myanmar joint venture with a military-linked local partner, it said on Thursday, exiting the Southeast Asian country more than a year after the military toppled an elected government. Kirin‘s 51% stake in Myanmar Brewery Limited will be sold back to the brewery for 22.4 billion yen… Continue reading Japan’s Kirin exits Myanmar business with military-linked partner
The Drako Motors 2,000-hp electric luxury SUV “feels more like a spaceship”
Startup EV manufacturer Drako Motors previewed today the follow-up to its $1.25 million Drako GTE: the 2,000-horsepower Drako Dragon Super-SUV. The San Jose, California-based automaker said the Dragon zips from 0 to 60 mph in 1.9 seconds using the company’s in-house DriveOS Quad Motor Powertrain, and DriveOS vehicle architecture. Individual torque control and a three-stage… Continue reading The Drako Motors 2,000-hp electric luxury SUV “feels more like a spaceship”
BMW is the latest to adopt Android Automotive
Google’s Android Automotive OS has been gaining traction in the industry, and this week, BMW announced it will be adopting the platform for some future vehicles. The company plans to develop their BMW Operating System 8 infotainment software using Android Automotive for some vehicle models beginning in March 2023 but also maintain the current Linux-based… Continue reading BMW is the latest to adopt Android Automotive
India Digest: GetVantage raises $36m; Carlyle picks stake in Varmora GranitoCarlyle is picking up a minority stake in Gujarat-based Varmora Granito.
GetVantage, a Mumbai-based lending platform for small and medium enterprises (SMEs), has raised funding while Carlyle is picking up a strategic minority stake in Gujarat-based Varmora Granito Pvt. Ltd. GetVantage raises $36m led by Varanium Nexgen, DMI Sparkle Fund SME lending platform GetVantage has raised $36 million in a round led by Varanium Nexgen Fintech… Continue reading India Digest: GetVantage raises $36m; Carlyle picks stake in Varmora GranitoCarlyle is picking up a minority stake in Gujarat-based Varmora Granito.
Singapore regulator MAS rebukes crypto hedge fund Three Arrows Capital
Singapore’s financial regulator has accused embattled crypto hedge fund Three Arrows Capital of exceeding its assets threshold and providing false information. Three Arrows (3AC) is one of the highest-profile investors hit by the sharp sell-off in crypto markets and is being liquidated, Reuters reported on Wednesday, citing a source familiar with the matter. On Thursday the Monetary Authority… Continue reading Singapore regulator MAS rebukes crypto hedge fund Three Arrows Capital
Bank of Ayudhya buys Nomura’s Thai securities unit for $155m
Thailand’s Bank of Ayudhya Pcl (BAY) announced on Thursday it would acquire Nomura‘s securities unit in Thailand for $155.3 million. Japan’s Mitsubishi UFJ Financial Group holds a 76.9% stake in the Bank of Ayudhya, also known as Krungsri Bank, Thailand’s fifth-largest lender by assets. “This transaction forms part of our strategic moves to accelerate the growth… Continue reading Bank of Ayudhya buys Nomura’s Thai securities unit for $155m
Former Zilingo CEO Ankiti Bose resigns from company board amid MBO talks
Zilingo co-founder and former CEO Ankiti Bose has resigned from all directorship positions at the company, including the holding company and all subsidiaries, in a fresh turn of events related to the Singapore-based fashion startup. “Given the current circumstances, and due to the opacity of information to me as a board member and a shareholder,… Continue reading Former Zilingo CEO Ankiti Bose resigns from company board amid MBO talks
Tesla uses its electric semi truck to deliver Superchargers to Laguna Seca racetrack
One of the rare Tesla Semi electric trucks came out of hiding this week to deliver pre-assembled Superchargers to the Laguna Seca racetrack in California. With the Tesla Semi program being delayed by 3 years at this point, the automaker rarely publicly uses the electric semi-truck. The company only produced a handful of them at… Continue reading Tesla uses its electric semi truck to deliver Superchargers to Laguna Seca racetrack