Vietnam 

Venture capital funds commit almost half a billion dollars to VN startups – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Agreements signed between the Ministry of Planning and Investment and investment funds at the summit. — Photo kinhtedothi.vn HÀ NỘI – Eighteen local and domestic venture capital funds have committed investment of about VNĐ10 trillion (US$429.2 million) to Vietnamese start-ups over the next three years. A number of cooperation agreements were inked at the Vietnam Venture Summit 2019 which opened on Monday in Hà Nội with the participation of leading global venture capital firms such as Temasek, Golden Gate Ventures, Softbank Vision Fund, CyberAgent Ventures, Insignia Ventures Partners and…

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China’s antitrust regulator fines Ford’s Changan venture US$23.6 million for price violations amid worsening trade tensions with US

China’s antitrust regulator slapped a US$23.6 million fine on Ford Motor Company’s Chinese venture for restricting sales prices in its hometown, taking the second such action against US carmakers in three years as trade tensions deteriorated between the world’s two largest economies.Changan Ford Automobile, the 50:50 venture between Michigan-based Ford and Chongqing Changan Automobile, must pay a penalty of 162.8 million yuan (US$23.6 million) – equivalent to 4 per cent of the venture’s annual… Source link

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Private-equity, venture capital investors bet on China’s pivot to domestic demand, self reliance

China having to become more self-reliant amid its trade war with the United States will present attractive buying opportunities for private-equity and venture capital investment, industry experts have said.“As the private-equity and venture capital sector, we need to understand that this is the new norm – we can’t wait until a deal is done,” James Donnan, managing director of fund administration services company Intertrust Hong Kong said on the sidelines of the HKVCA China Private Equity Summit… Source link

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Money 

JPMorgan poised to be first foreign company to own majority stake in China mutual fund venture

JPMorgan could become the first foreign company to own a majority stake in its Chinese mutual fund business, after its joint venture partner put a crucial 2 per cent of the business up for sale that analysts expect the Wall Street bank to lap up.A move by JPMorgan towards that goal would come at a tense time in US-China ties, as Chinese Vice-Premier Liu He is set to continue trade negotiations with the United States that were roiled after President Donald Trump said on Sunday he would raise… Source link

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Donald Trump’s crackdown on Chinese investment in US sparks huge shift into venture capital

Chinese investors, finding the US business environment uninviting, are turning to venture capital to skirt heightened scrutiny, while some have pivoted to other parts of the world altogether.Chinese foreign direct investment (FDI) into the US plummeted for the second straight year in 2018, tumbling 83 per cent to US$5 billion, according to a Wednesday report by the National Committee on US China Relations.A year earlier, FDI amounted to US$29 billion, down from the peak of US$46 billion… Source link

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Hong Kong pharma start-up joins with Singapore technology agency in venture fund

Aptorum Group, a Hong Kong drug developer listed on Nasdaq, will invest in health care start-ups in Singapore, working alongside the city state’s government technology agency to channel US$90 million into promising companies.Aptorum and Aeneas Capital, both controlled by boutique investment bank co-founder Ian Huen Chung-yuen, signed an agreement with A*ccelerate Technologies on Wednesday to invest the funds over the next five years.A*ccelerate operates under the Singapore’s Agency for Science,… Source link

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Credit Suisse to take controlling stake in Chinese securities joint venture

Credit Suisse said on Monday that its plans to take a controlling stake in its securities joint venture in China, the latest overseas firm to take advantage of Beijing’s efforts to further open the country’s financial services industry.China announced in 2017 that it would allow foreign banks to own majority stakes in their securities joint ventures as part of an effort to open up its banking sector. UBS was the first foreign bank to receive approval from regulators in November to increase its… Source link

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Top venture capitalists, bankers land key role in deciding China’s tech board IPOs

Some of China’s most well-known venture capitalists and bankers could play a key advisory role in picking companies on the upcoming Nasdaq-style technology board in Shanghai.The Shanghai Stock Exchange published on Wednesday night two separate lists with names of candidates for the “listing and consultative committees” for the tech board.The two committees consist of 48 candidates each.Neil Shen Nanpeng, the founder and managing partner of Sequoia Capital China; Zhang Lei, CEO of Hillhouse… Source link

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Vietnam 

Việt Nam-Russia joint venture welcomes first oil flow from Cá Tầm field – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The CTC1-WHP oilrig in the Cá Tầm field. – Photo baobariavungtau Viet Nam News BÀ RỊA VŨNG TÀU — The Việt Nam-Russia oil and gas joint venture Vietsovpetro held a ceremony in the southern province of Bà Rịa-Vũng Tàu to welcome the first flow of oil pumped from the Cá Tầm oil field. Built in March 2018, the CTC1-WHP oilrig is the most important component of Cá Tầm’s development project under a shared production contract signed by the Việt Nam Oil and Gas Group (PetroVietnam), the PetroVietnam Exploration Production Corporation…

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XTep forms China venture with Wolverine to sell Merrell, Saucony shoes and sports apparel

XTep International Holdings will form a venture in China with Wolverine World Wide to sell Merrell footwear, Saucony running shoes, apparel and accessories, adopting a similar multi-brand business strategy as its bigger Fujian compatriot Anta Sports Products.Xtep, based in Quanzhou city of Fujian province, will commit 155 million yuan (US$23 million) in initial funding toward the 50:50 venture, which aims to open between 400 and 500 stores under each of the Merrell and Saucony brands in China… Source link

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