Vietnam 

Southeast Asia startup RedDoorz raises US$70 million in Series C funding – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Amit Saberwal, Founder and CEO of RedDoorz. — Photo courtesy of RedDoorz HCM CITY — RedDoorz, the Southeast Asia’s hotel management and booking platform, announced it has raised US$70 million at first close of a larger Series C funding on Monday. Leading the round is Asia Partners, a Singapore-based growth equity firm founded by senior executives with an exceptional track record in scaling multi-billion tech companies (Sea, Naspers, Bukalapak) globally and across the region. RedDoorz is the first portfolio company of Asia Partners, which focuses on growth-stage investments in technology and…

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Vietnam 

State Treasury raises nearly $80m via G-bonds – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The State Treasury raised VNĐ850 billion worth of 15-year bonds with average yield rate of 4.68 per cent per year, the same rate offered in the previous auction on July 31, 2019. HÀ NỘI — The State Treasury of Việt Nam mobilised VNĐ1.85 trillion (US$79.54 million) through Government bond auctions on the Hà Nội Stock Exchange (HNX) on Wednesday. Some VNĐ2 trillion worth of G-bonds were offered, including 10-year and 15-year bonds each valued at VNĐ1 trillion. Specifically, bonds with 10-year terms were sold out at an interest rate of 4.42 per cent, down 0.02…

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Home 

Leadership shuffle at Bank of Jinzhou raises questions about ICBC-led ‘investment’ in July, as credit drought wrecks damage on regional lenders

Bank of Jinzhou has appointed Guo Wenfeng, 47, to take over the post of governor at the mid-sized regional lender, part of a personnel shake-up affecting half a dozen senior positions, according to filings and news reports since Friday.Guo will be transferred from s current position with Industrial and Commercial Bank of China (ICBC), according to a Hong Kong stock exchange filing. Three other senior appointments will also involve personnel currently with ICBC, according to reports.Analysts… Source link

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Vietnam 

State Treasury raises over $343m 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 VNĐ123.85 trillion through Government bonds issued on the HNX. — Photo cafef.vn HÀ NỘI — The State Treasury of Việt Nam mobilised VNĐ8 trillion (US$343 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 five-year bonds valued at VNĐ500 billion; 10-year bonds and 15-year bonds valued at VNĐ2 trillion each and 20-year bonds valued at VNĐ1 trillion. The State Treasury raised VNĐ500 billion worth of…

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Home 

Stocks Blog: Strong US jobs report raises doubts about Fed interest rate cut

Good day, traders. Well, the US posted blowout jobs numbers on Friday, taking some pressure off the Federal Reserve to lower interest rates. Meanwhile, we had more protests Sunday against a proposal that would for the first time allow extraditions to mainland China. So far, those protest haven’t weighed heavily on the Hang Seng. But they have raised concerns about foreign investment and the overall business climate ahead in the city.  The stocks team will be watching markets closely and… Source link

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China 

Breakneck growth in China’s credit-card debt since 2012 raises worries about a potential bust, says ratings agency S&P

Credit-card debt has grown more than sixfold in China since 2012, mirroring booms in other Asian markets that ended badly and raising concerns about the potential risks to Chinese banks, according to a new report from S&P Global Ratings.The credit rating agency said that unsecured consumer lending in the mainland is expected to increase at a rate of 20 per cent annually for the next two years, a slight slowdown, but reminiscent of problematic booms in Hong Kong, South Korea and Taiwan.At the… Source link

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China 

Xi-Trump G20 meeting in Japan raises hopes of a trade war truce, but also levels of anxiety for global economy

This is the final of four stories examining important issues ahead of the meeting between Chinese President Xi Jinping and US President Donald Trump at the G20 leaders summit on June 28-29 in Osaka, Japan.The most likely outcome from the G20 summit meeting between Chinese President Xi Jinping and US counterpart Donald Trump this weekend is expected to be another truce on new tariffs to buy time for Beijing and Washington to negotiate a final deal to end their trade war because the obstacles to… Source link

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Home 

China healthcare platform Waterdrop raises 1 billion yuan in funds from investors including Boyu Capital

Waterdrop, a Chinese online insurance platform backed by Tencent, has raised more than a billion yuan (US$145 million) in a funding round led by private equity firm Boyu Capital.Other backers of the series C round include CICC Capital, while earlier investors including Tencent and Gaorong Capital also took part, the Beijing-based start-up said in a release on Wednesday.Founded by former Meituan Dianping executive Shen Peng in 2016, Waterdrop started as a health care crowdfunding platform for… Source link

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Vietnam 

Mitsui raises Minh Phú Seafood stake to 35 per cent – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Workers on a processing line at a Minh Phú Seafood factory. The company has confirmed its shrimp products are still entering the US as normal. — Photo soha.vn HÀ NỘI  MPM Investments Pte Ltd, a subsidiary of Japan’s Mitsui & Co Ltd, has acquired 60 million shares in Minh Phú Seafood Joint Stock Company (MPC) to raise its stake in the Vietnamese shrimp processor to 35.1 per cent. The purchase was made through a private placement worth nearly VNĐ3.04 trillion (US$130.5 million), equivalent to VNĐ50,630 per share, a 40.6 per cent premium…

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Hangzhou raises US$16.4 billion from land sales in just five months, amid construction binge for 2022 Asian Games

Hangzhou, the provincial capital of the third most indebted Chinese region, raised more funds through land sales than any other Chinese city in the first five months of this year, as the local authority grapples with how to pay for a massive infrastructure and construction binge ahead of the 2020 Asian Games.The city renowned for its picturesque West Lake raised 113.5 billion yuan by selling 295 land parcels in the five months through May, according to calculations by the South China Morning… Source link

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