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Shenzhen Transsion applies to raise capital on Shanghai’s technology board after taking Africa’s phone market by storm

Shenzhen Transsion Holdings, which makes three of every 10 smartphones sold in Africa, has thrown its hat into the ring to raise capital on Shanghai’s tech board via an initial public offering (IPO), becoming one of the first among China’s home-grown technology champions to kick off President Xi Jinping’s fundraising project.The company completed a three-month counselling period from December 2018 until March, during which an investment bank provided guidance and advice on the IPO applicant’s… Source link

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The age of ‘bankless’ global money transfer dawns as blockchain technology sounds the death knell of money changers

The global money transfer industry is under threat. With high fees, a war on cash and the growing trend of “de-risking” by banks, the traditional means is no longer effective in serving the two billion people who are unbanked. Bankless, cash-based societies are where the real money transfer market lies, with global remittance flows to developing countries reaching a record of US$466 billion in 2017. In recent years, blockchain technology emerged as the solution to enable a global money… Source link

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China’s US$59 billion internet and technology bubble will trap many private-equity investors when it bursts, Bain says

China’s internet and technology sector is a bubble waiting to burst, according to an annual Asia-Pacific private equity report for 2019 released by Boston-based global management consultancy Bain & Company on Friday.According to the report, many private equity (PE) investors are stuck with portfolio companies bought over the past five years at high multiples. They now also face a deteriorating outlook for their investment.“That scenario, if and when it comes, will make it tough for general… Source link

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Commodities, currency and technology are HKEX’s secret weapons as it morphs into a global financial market place

Hong Kong Exchanges and Clearing Limited (HKEX), which rode to the top among global destinations for initial public offerings on a wave of equity sales last year, will add a mixture of new-economy and old-world financial instruments to its arsenal, in its quest to become a global financial market place.The bourse operator is betting that the Chinese government will gives its nod to a cross-border investment channel known as the Connect scheme, which will let global investors buy and sell… Source link

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Vietnam 

Technology reshaping VN retail sector – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News The rapid growth of the digital economy in the past few years has speeded up the evolution of the retail industry and changed consumers’shopping behaviours, requiring retailers to innovate to better serve customers’ diverse needs and provide them with better shopping experiences. Việt Nam News reporters Xuân Hương and Thu Ngân asked retail experts from various business groups and companies for their views on the market, what retailers should do to better serve customers’needs, and more. Đinh Thị Mỹ Loan, chairwoman of the Association…

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China 

China to make forced technology transfer illegal as Beijing tries to woo back foreign investors

Beijing will make it illegal to force foreign investors to transfer their technology to Chinese partners while also lowering market barriers for foreign firms to enter the domestic market, a senior economic planning official said on Wednesday, highlighting an effort to lure overseas investment inflows.China is expected to pass a new law next week intended to protect the interests of foreign investors, both as a response to demands from the United States that have formed part of the ongoing… Source link

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China 

China scraps valuation limit to kick-start Xi Jinping’s technology board for home-grown companies to raise capital

Shanghai’s stock exchange, tasked by Chinese president Xi Jinping last November to create a technology board for the country’s most valuable start-ups to raise capital, has fine tuned its listing rules and upped the ante with Hong Kong in the race for the title of Asia’s fundraising hub.Initial public offerings ((IPOs) on the tech board will be priced through “interactions with eligible offline investors,” the exchange said late on Friday. That essentially removes the implicit valuation limit –… Source link

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China’s virtual idols meet their fans at the intersection of entertainment and technology

Top Chinese pianist Lang Lang accompanied 15-year old singer Luo Tianyi in a performance for thousands of screaming fans at Shanghai’s Mercedes-Benz arena last Saturday.Luo, with grey pigtails and green eyes, has over three million fans on Weibo, China’s equivalent of Twitter, and tickets to the concert cost as much as 1,580 yuan (US$235).Only thing is, Luo is not real. She is a virtual idol who shared the staged with Lang, marking the first concert between a holographic singer and real-life… Source link

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Vietnam 

Vietnam Airlines inks deal with US Sabre innovative technology company – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

General Secretary, President Nguyễn Phú Trọng and US President Donald Trump witness the signing between Vietnam Airlines and Sabre leaders in Hà Nội on Wednesday. — VNS Photo Viet Nam News HÀ NỘI — National carrier Vietnam Airlines and Sabre, a leading technology provider from the US, on Wednesday signed a strategic co-operation expansion agreement on aviation technology worth US$300 million. The deal was witnessed by Party General Secretary, President Nguyễn Phú Trọng and US President Donald Trump in Hà Nội. Expanding its strategic co-operation with Sabre…

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Vietnam 

Viettel pioneers narrowband internet of things technology – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM City — Viettel is among only 50 telecom companies in the world to successfully deploy the narrowband internet of things (NB-IoT), a technology developed for devices supporting IoT connectivity. The announcement was made by the Global System Mobile Association (GSMA) before the 2019 Mobile World Congress in Barcelona, Spain, on February 25. In December Viettel successfully activated the first 30 base transceiver stations (BTSs) in Hà Nội with the platform set to offer services using NB-IoT technology. The IoT infrastructure and platform will…

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