Accelerators & Incubators
Policy & Regulation
Tencent Confirms Buying Ailing Malaysian Streaming Platform iflix
iflix had raised over $360 million from investors including Fidelity International, Hearst Communications, EDBI and Liberty Global before.
gojek to Let Go of 430 Employees as It Shutters GoLife, GoFood Festivals
GoLife and GoFood Festival have seen a significant downturn over the past few months as the COVID-19 pandemic has affected consumer habits.
Uber & Mastercard to Provide 120,000 Free Trips to Frontline Workers in MEA
Uber will make available its wide network of drivers to ensure those who are supporting communities and the many frontline workers who need to be mobile, have a reliable and efficient way of getting around.
China concept stocks
Tencent Makes New Bid for Chinese EV Maker Nio
The cash-craving EV startup rebounded strongly from the pandemic’s impact, setting a monthly record for electric vehicles sold in May.
Amazon Signals Entry into Alcohol Delivery in Indian Eastern State
Alibaba-backed Indian grocery venture BigBasket has also won approval to deliver alcohol in the state.
Jumia Has Gone From eCommerce To Full-Blown Logistics Overnight
Africa’s largest e-tailer, Jumia, appears to have spun its in-house logistics arm into an entity that will now cater to other needs besides Jumia’s.
ByteDance First Quarter Revenues up 130% with Annual Target Half Tencent’s 2019 Earnings
TikTok’s owner set an annual revenue goal of RMB 200 million, while more than 80% of its 2019 revenue was from online advertising.
Safaricom Launches Lipa Na M-PESA Business App to Make Payments, View Reports on The Go
Safaricom today announced its Lipa Na M-PESA Business smartphone app targeting more than 170,000 merchants on the service.
The competition commission of India(CCI)
CCI To Probe Reliance Jio-Facebook Deal Over Potential Data Abuse
Facebook’s investment in Jio is the largest FDI deal in the technology sector in India
Grab CEO Announces Lay-off of 360 Employees, Addresses COVID-19 Impact to Business
The ride-hailing giant also promised that this will be the last major layoff of 2020.
Reliance Jio Gets $600 Mn Funding From TPG To Add To List Of Global Investors
Reliance said that the investment will translate into a 0.93% equity stake in Jio Platforms on a fully diluted basis for TPG.
Group CTO Ajey Gore leaves gojek
Gore joined gojek in mid-2015 as Head of Engineering before being promoted to the position of CTO in January 2016.
China’s Ant Financial Spins off Alipay’s Computing Infrastructure OceanBase
Ant Financial, the operator of China’s biggest online payment platform Alipay, has spun off its self-developed key computing infrastructure OceanBase into an independent company.
Phone Numbers Of 3 Lakh WhatsApp Users Exposed Due To Encryption Lag
The database includes phone numbers of users from India, UK, US and several other countries.
Abu Dhabi Fund Mubadala to Invest $1.2b in Reliance’s Jio Platforms
The latest transaction gives Jio Platforms an equity valuation of Rs4.91 trillion and an enterprise value of Rs5.16 trillion.
United Arab Emirates
Payfort Launches $272,000 Initiative to Support Startups
Payfort, a subsidiary of retail giant Amazon, has launched a $272,000 initiative in the UAE aimed at supporting startups and small-to-medium sized businesses (SMB).
Huawei Grabs A Quarter of China’s Cloud Management Market in 2019
The steady growth of cloud computing in China allowed the niche sector for cloud system management to grow by 44.2% YoY.
Gojek Names Facebook, PayPal as New Investors in Latest Funding Round
The funding round will also see the integration of PayPal service into gojek's platform.
Chinese Chip-Maker SMIC Seeks to Raise $2.8b via Shanghai Listing
Established in 2000, SMIC is mainland China’s top semiconductor foundry and the country’s rival to Taiwan-based Taiwan Semiconductor Manufacturing Company (TSMC).
Didi Chuxing’s Autonomous Driving Unit Closes A USD 500 Million Round Led by SoftBank
Didi is also set to test its robotaxi in Beijing.
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