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Baidu invests US$200 million in Chinese AI firm Neusoft to develop smart city solutions

Chinese search engine giant Baidu is investing 1.44 billion yuan (US$202 million) in industrial artificial intelligence (AI) firm Neusoft Holdings to develop smart city, health care and education infrastructure.“Neusoft is an industry leader in … smart cities … and AI cloud for hospitals and the education sector,” said Baidu in a statement on Tuesday. “The collaboration between Baidu and Neusoft … is cooperation between an internet firm and a solutions provider to explore leading AI technology… Source link

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Chinese billionaire Li Shufu’s Geely invests in German flying-car start-up Volocopter

Billionaire Li Shufu’s Zhejiang Geely Holding Group agreed to invest in flying-car developer Volocopter as the Chinese car giant diversifies into technologies that eventually could supplant the traditional gas guzzler.Geely, which owns Volvo Cars and a stake in Daimler, led a round of investment that raised €50 million (US$55 million) to help the VoloCity air taxi launch commercially within the next three years, the companies said on Monday. Geely and Bruchsal, Germany-based Volocopter agreed… Source link

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Vietnam 

Chinese firm invests in $50m factory in Bình Phước – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Representatives of Kuka Home and the People’s Committee of Bình Phước Province sign the land lease contract. — Photo Dương Chí Tưởng   HÀ NỘI — Chinese furniture manufacturer Kuka Home on Tuesday signed a land lease contract with the People’s Committee of Bình Phước Province. Kuka will rent 12ha of land in Đồng Xoài III Industrial Park to build a wooden furniture manufacturing factory. The project has an investment capital of more than US$50 million. Once operational, it is expected to create jobs for 3,000-4,000 local labourers. Currently,…

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Vietnam 

Hòa Phát invests nearly VNĐ43 trillion on Dung Quất project – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A view of Hòa Phát Dung Quất iron and steel production complex. — Photo courtesy of Hòa Phát HÀ NỘI — In the first half of 2019, Hòa Phát Group poured nearly VNĐ9.17 trillion (US$393.35 million) into Dung Quất iron and steel production complex, raising total investment in the project to approximately VNĐ42.92 trillion. The group’s chairman Trần Đình Long said that total initial investment for the project is VNĐ40 trillion of medium-term loans for fixed assets and VNĐ12 trillion for short-term activities. During the investment process, Hòa Phát applied some new technological achievements,…

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Vietnam 

German Government development fund invests $28 million in VN sugar company – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  SBT’s sugar mill. The company has announced sale of preference stock worth $28 million to German development finance institution DEG. — Photo courtesy of TTC HCM CITY — Thành Thành Công-Biên Hòa JSC (SBT) on July 26 announced that the German development finance institution DEG, owned by the German Government, invested US$28 million to buy convertible preferred dividend stocks at VNĐ30,000 ($1.26) each, 84 per cent higher than SBT’s market price on July 25. The preferred stock will be subject to transfer restrictions for at least one year from…

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Toyota invests US$600m in Didi Chuxing, sets up new mobility joint venture in China

Toyota Motor Corp will invest US$600 million in Didi Chuxing and establish a new joint venture for mobility services with the Chinese ride-hailing giant as competition in its home market intensifies.That collaboration will be set up with GAC Toyota Motor Co, the Japanese car maker’s automotive manufacturing venture based in the southern coastal city of Guangzhou, and focus on providing “quality car maintenance support and safe driving guidance to ride-hailing drivers” on the mainland, according… Source link

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Visa invests in Indonesia’s Go-jek, eyes digital payments across Southeast Asia

Visa has invested in Indonesian ride-hailing firm Go-jek, as the two companies look to collaborate on digital payments across Southeast Asia.Both Go-jek and Visa will work together to provide greater options for cashless payments across the region, according to a joint statement by the companies. Visa’s investment amount or stake in Go-jek was not disclosed. Visa is also an investor in Grab, according to a person familiar with the matter.Go-jek currently operates Go-Pay, a digital wallet which… Source link

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NBA invests in Jeremy Lin-backed basketball AI app

The National Basketball Association (NBA) led investments in a basketball analytics app backed by Toronto Raptors point guard Jeremy Lin as part of the league’s efforts to embrace advanced technology.NEX Team, developer of the HomeCourt app, raised US$8.5 million in its recent series A funding round led by the NBA, which has also become a strategic partner. The app uses artificial intelligence (AI) to track and analyse how a basketball player makes shots during training or in a game. Its… Source link

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Didi invests in Tencent-backed ride-hailing start-up amid efforts to expand strategic alliances

Didi Chuxing has invested an undisclosed amount in OnTime, a new ride-hailing service provider backed by Tencent Holdings, in a move that widens its strategic alliances as competition in the domestic market heats up.Beijing-based Didi, operator of China’s largest ride-hailing platform, announced that deal as part of an agreement with Guangzhou Automobile Group Co (GAC Group) to expand their partnership into areas such as ride-hailing operations, fleet management, autonomous driving and other… Source link

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Vietnam 

RoK company invests $1.2 million in Vietnamese startup Luxstay – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  GS Home Shopping invests $1.2 million in Luxstay. Photo businesskorea HÀ NỘI — GS Home Shopping, a leading shopping channel operator in the Republic of Korea, announced on Sunday that it has invested US$1.2 million in Luxstay, a Vietnamese home-sharing platform. This is the company’s second investment in an e-commerce start-up based in Việt Nam. Earlier in January, it poured $3 million into the e-commerce venture firm, Leflair, which focuses on premium-branded products for women, men, children and homes. Việt Nam is considered one of the fastest-growing countries in the tourism…

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