Author: Deal Street Asia Online News

Investors in VinFast’s SPAC cash out most sharesIt was a setback for VinFast, which had initially planned a U.S. listing on its own.

Shareholders of Black Spade Acquisition, a special purpose acquisition company (SPAC) that has plans to merge with Vietnam’s electric automaker VinFast to allow a U.S. listing, have redeemed over 80% of their shares, the SPAC said on Friday. It was a setback for VinFast, which had initially planned a U.S. listing on its own and has struggled to… Continue reading Investors in VinFast’s SPAC cash out most sharesIt was a setback for VinFast, which had initially planned a U.S. listing on its own.

BlackRock beats second-quarter profit estimates on robust inflowsThe firm ended Q2 with $9.4 trillion in AUM, up from $8.5 trillion a year earlier.

BlackRock Inc on Friday beat second-quarter profit estimates, as investors continued to pour money into its various funds on the back of a rally in markets after a bruising start to the year. Markets have staged a comeback so far this year, braving the Federal Reserve’s rate hikes and a banking crisis that have raised… Continue reading BlackRock beats second-quarter profit estimates on robust inflowsThe firm ended Q2 with $9.4 trillion in AUM, up from $8.5 trillion a year earlier.

Crypto winter appears to be ending as regulatory fog begins to lift

Cryptocurrencies were testing year highs on Friday as a run of favourable regulatory and investment moves have started to shift momentum in markets that had been stuck in a rut for months. Bitcoin traded at its highest price since June 2022 overnight, touching $31,818 on the Bitstamp exchange. It is up more than 90% for… Continue reading Crypto winter appears to be ending as regulatory fog begins to lift

EQT’s private wealth fund to start off with $786m assets under management

Swedish investment firm EQT Group’s private wealth strategy, which was launched in May, will start off with around 700 million euros ($786 million) underlying fund commitments. The firm’s first semi-liquid fund, EQT Nexus, offers retail investors in Europe and APAC access to a range of EQT’s strategies, such as EQT X or EQT Infrastructure VI,… Continue reading EQT’s private wealth fund to start off with $786m assets under management

BYD proposes $1b India investment to build EVs, batteriesThe longer-term plan is to build a full line-up of BYD-brand EVs in India from hatchbacks to …

China’s BYD Co has submitted a $1 billion investment proposal to build electric cars and batteries in India in partnership with a local company, three people with direct knowledge of the plan told Reuters. BYD and privately held Hyderabad-based Megha Engineering and Infrastructures have submitted a proposal to Indian regulators to form an EV joint… Continue reading BYD proposes $1b India investment to build EVs, batteriesThe longer-term plan is to build a full line-up of BYD-brand EVs in India from hatchbacks to …

SEA Digest: PSA International defers Hutchison Ports stake sale; Meratus said to be in sale talks

PSA International is said to have postponed the sale of a $4-billion minority stake in Hutchison Ports, while Indonesia-based shipping firm Meratus is reportedly in talks with potential investors for a sale of the business. PSA postpones $4b sale of Hutchison Ports stake Singapore-based port operator and supply-chain company PSA International has postponed the sale… Continue reading SEA Digest: PSA International defers Hutchison Ports stake sale; Meratus said to be in sale talks

Lofty crypto tax regime in India keeps traders, startup investors at bayAn estimated 17 lakh users have switched from domestic exchanges to foreign co…

Until mid-2022, Thomas Vallianeth, a technology lawyer based out of Bengaluru, had been an active trader in the cryptocurrency market in India. However, after the Indian government levied a 30% flat income tax on cryptocurrencies in July 2022, Vallianeth said he cashes out part of his corpus of crypto investments in favour of more conventional… Continue reading Lofty crypto tax regime in India keeps traders, startup investors at bayAn estimated 17 lakh users have switched from domestic exchanges to foreign co…