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Singapore’s Zilingo raises US$226 million to expand fashion site inspired by Bangkok’s Chatuchak market

Zilingo, a Singapore-based online fashion marketplace, raised US$226 million to fund an expansion into the Philippines, Indonesia and Australia. Investors in the series D financing included Sequoia Capital, Temasek Holdings, Burda Principal Investments, Sofina and EDBI, the company said on Tuesday without disclosing a valuation. The start-up is valued at US$970 million, according to people familiar with the matter who asked not to be named because the information is private. Zilingo, founded by Ankiti Bose and Dhruv Kapoor, started as a fashion and lifestyle marketplace in 2015 to help small…

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Wave of selling at end of Xiaomi’s lock-up period raises questions about what’s ahead for other newly listed firms in Hong Kong

Investors locked into holding newly listed Hong Kong stocks could only watch as last year’s bear market ate away at their returns. The shackles will soon be off. Xiaomi Corp. saw a wave of selling after its lock-up period – when key investors are banned from selling stock – ended three weeks ago. Similar restriction terms are due to end for China Tower next month, followed by Meituan Dianping and Haidilao International Holding in late March. They’re among more than 50 companies whose mandatory holding periods are yet to expire…

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Vietnam 

Cinnamon start-up raises $15 million in funding – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Cinnamon Inc., an Artificial Intelligence (AI) start-up based in Tokyo and Việt Nam, has successfully raised US$15 million in Series B funding for its expansion of operations in the US market. The capital came from FinTech Business Innovation LPS (SBI Investment Co., Ltd.), SBI Venture Investment Revitalization Tax System LPS, FFG Venture LPS1, ITOCHU Techno-Solutions Corporation, Sony Innovation Fund and TIS Inc. With this capital, Cinnamon will continue to improve the quality of existing AI technology applications, and develop more products…

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Vietnam 

State Treasury raises nearly $265m via G-bonds – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Some VNĐ5.5 trillion worth of G-bonds were offered in the Government bond auctions on Wednesday. — Photo vietnambiz.vn Viet Nam News HÀ NỘI — The State Treasury of Việt Nam mobilised nearly VNĐ6.2 trillion (US$265 million) through Government bond auctions on the Hà Nội Stock Exchange (HNX) on Wednesday. Some VNĐ5.5 trillion worth of G-bonds were offered, including seven-year bonds valued at VNĐ2 trillion; 15-year bonds valued at VNĐ3 trillion and 30-year bonds valued at VNĐ500 billion. The State Treasury raised VNĐ1.3 trillion worth of seven-year bonds with average yield rate of…

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Vietnam 

VN’s fintech firm raises $1m in funding from Singapore investor – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Vietnamese fintech firm Finhay had successfully raised nearly US$1 million from Singapore-based Insigna Venture Partners and other investors, the company announced on January 17. “We are thrilled to support Finhay and believe that it is the right idea, at the right time to enable a new generation in Việt Nam to build their financial future. It is not hard to believe that they will gradually layer on more products and services to become the Amazon of financial services in Việt Nam,” Insignia Ventures Partners founding…

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Vietnam 

State Treasury raises $470m via G-bonds – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

From the beginning of this year, the State Treasury has mobilised more than VNĐ24.2 trillion through G-bonds. — Photo thoibaonganhang.vn Viet Nam News HÀ NỘI — The State Treasury of Việt Nam mobilised VNĐ11 trillion (US$470 million) through Government bond auctions on the Hà Nội Stock Exchange (HNX) on Wednesday. Some VNĐ7.5 trillion worth of G-bonds were offered, including five-year bonds valued at VNĐ1 trillion; 10-year and 15-year bonds each valued at VNĐ3 trillion and 20-year bonds valued at VNĐ500 billion. The State Treasury raised VNĐ1 trillion worth of five-year bonds…

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Vietnam 

State Treasury raises $7.09 billion via G-bonds – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

In 2018, the State Treasury of Việt Nam mobilised nearly VNĐ165.8trillion (US$7.09 billion) through Government bond auctions on the HNX. — Photo cafef.vn Viet Nam News HÀ NỘI — The State Treasury of Việt Nam mobilised nearly VNĐ165.8trillion (US$7.09 billion) through Government bond auctions on the Hà Nội Stock Exchange (HNX) in 2018. In the last session of Government bond auctions this year on December 26 at the HNX, the State Treasury mobilised VNĐ4.31 trillion of G-bonds. Some VNĐ10 trillion worth of G-bonds were offered, including 10-year bonds and 15-year…

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Vietnam 

Techcombank chairman’s son raises stake to 3.95% – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A customer completes a transaction at Techcombank’s head office in Hà Nội. — VNA/VNS Photo Trần Việt Viet Nam News HÀ NỘI — The private-equity financial institution Techcombank has announced shareholder Hồ Anh Minh has bought 44.7 million shares to increase his ownership to 3.95 per cent from 2.66 per cent. Minh, son of the bank’s chairman Hồ Hùng Anh, carrying out transactions from December 14 to December 19, 2018, now owns 138 million Techcombank shares. During the same period, Nguyễn Hương Liên, sister-in-law of chairman Anh,…

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US Fed raises rates by 25 basis points, defying Donald Trump and a sagging stock market

The US Federal Reserve raised borrowing costs for the fourth time this year, looking through a stock-market sell-off and defying pressure from US President Donald Trump, while dialling back projections for interest rates and economic growth in 2019. By trimming the number of rate hikes they foresee in 2019 from three to two, policymakers signalled they may soon pause their monetary tightening campaign. Officials had a median projection of one move in 2020. Following the decision, stocks erased gains and 10-year Treasury yields fell while the dollar bounced off its…

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China 

Hong Kong’s de facto central bank raises base interest rate by 25 points for fourth time this year in lockstep with US monetary policy

The Hong Kong Monetary Authority (HKMA) has raised the city’s base lending rate by 25 basis points for the fourth time this year, moving in lockstep with the US Federal Reserve’s overnight increase of the same quantum, to maintain the local currency’s peg to the US dollar. The four quarter-point increases have added 1 full percentage point to Hong Kong’s base lending rate, at 2.75 per cent with immediate effect. Hong Kong’s currency has been pegged to the US dollar at HK$7.8 per dollar since 1983, which compels the de…

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