Ashwin Desai is the founder and managing director of Aether Industries. Courtesy of Aether Industries Ashwin Desai’s listing of his Surat, India-based specialty chemicals maker Aether Industries this month has made him India’s newest billionaire in a city better known for its diamond industry. Desai, the founder and managing director of Aether, controls 87% of… More
Hong Kong-based asset manager Babel Finance is the latest crypto lending firm to signal the growing crisis of the cryptocurrency lending industry amid the bear market. Hong Kong-based asset manager Babel Finance is the latest cryptocurrency lending firm experiencing some serious issues amid the ongoing market downturn.Babel Finance officially announced Friday a temporary suspension of… More
Micron bought the shares it didn’t already own in Taiwan’s Inotera Memories in 2016 for … [+] approximately $4 billion. Photographer: Maurice Tsai/Bloomberg © 2010 Bloomberg Finance LP Micron Technology Inc., the U.S. memory chip maker, will add 2,000 employees and set up a research and development (R&D) corridor in Taiwan, the Central News Agency… More
A visitor takes a photo of Ant Group’s display at the 2021 China International Fair for Trade in … [+] Services in Beijing on September 5, 2021. An Xin/Costfoto/Future Publishing via Getty Images Ant Group, the financial technology giant controlled by Chinese billionaire Jack Ma, announced on Monday that it will launch a digital wholesale… More
Andre Soelistyo, president of Gojek, speaks during the Bloomberg Sooner Than You Think technology … [+] event in Singapore, on September 5, 2019. Paul Miller/Bloomberg GoTo released its much-anticipated first-quarter numbers that saw its losses deepen as sales went up. The ride-hailing and e-commerce company said on Monday that its gross revenue climbed to 5.2… More
A grinding mill installed at the Arcadia Lithium mine on January 11, 2022 in Goromonzi, Zimbabwe on … [+] January 11, 2022. Tafadzwa Ufumeli/Getty Images Shanghai-listed mining company Zhejiang Huayou Cobalt, controlled by billionaire Chen Xuehua, will invest $300 million into its Arcadia lithium mine near Harare, Zimbabwe, according to a Reuters report, citing the… More
Euisun Chung, chairman of Hyundai Motor. SeongJoon Cho/Bloomberg Amid growing competition among car makers to position themselves for a low-carbon future, Hyundai Motor Group said it plans to invest a total of $16.5 billion over the next eight years to expand its production of electric vehicles in its home market of South Korea. The South… More
Robert Friedland, chairman and cofounder of Ivanhoe Mines, speaks during the Denver Gold Forum (DGF) … [+] in Colorado Springs, Colorado, U.S., in 2016. Matthew Staver/Bloomberg Billionaire Robert Friedland plans to list his Ivanhoe Electric Inc. in New York and Toronto as the mining tycoon aims to bankroll the development of copper mines in the… More
Forbes 30 Under 30 Asia logo It was his daily three-hour commute between Gurgaon and Noida that convinced Rohan Nayak that many Indians like him craved high-quality audio content. Less than four years after the launch of the Pocket FM app, the audio streamer claims to have more than 15 million monthly active users. Nayak,… More
Forbes 30 under 30 Asia 2022 Forbes 30 under 30 Asia 2022 XanPool, a cross-border payments infrastructure provider, aims to expand outside of the Asia-Pacific region amid growing global demand for both crypto and fiat currency settlements. The Hong Kong-based company—which has raised $32 million since inception in March 2019—plans to enter markets such as… More
Del Wang, cofounder and CEO of Babel Finance. Babel Finance Babel Finance, a Hong Kong-based crypto lender and asset manager, has secured $80 million from investors including crypto venture firms Dragonfly Capital and Circle Ventures, ramping up its valuation to $2 billion four years after it was founded. Major investors of the round are Chinese… More
Forrest Li, chairman and group chief executive officer of Sea Ltd., poses for a photograph in … [+] Singapore on Wednesday, July 8, 2020. Demand for Sea’s mobile games and online-shopping platform has surged during the pandemic, and the company is bidding on a Singapore digital-banking license to accelerate its push into financial services. Photographer: Wei Leng… More
Anne Hathaway and Jared Leto attend the Global Premiere of Apple TV+’s “WeCrashed” at Academy Museum of Motion Pictures on March 17, 2022 in Los Angeles, California. Axelle/Bauer-Griffin/FilmMagic If Apple TV+ wants to give its “WeCrashed” series a second season, it could tell the story of WeWork enabler Masayoshi Son and call it “ICrashed.” Personally,… More
The Solaire Resort and Casino, operated by Bloomberry Resorts Corp., stands illuminated at night in … [+] Manila, the Philippines, on Saturday, April 27, 2019. Photographer: Veejay Villafranca/Bloomberg © 2019 Bloomberg Finance LP Bloomberry Resorts—controlled by billionaire Enrique Razon Jr.—has signed a deal to invest in Davao-based businessman Dennis Uy’s casino resort projects in the… More
Jack Zhang, cofounder and chief CEO of Airwallex. Anthony Kwan/Bloomberg Airwallex, a fintech unicorn headquartered in Hong Kong backed by the likes of Tencent and Li Ka-shing’s Horizons Ventures, is seeking to raise as much as $150 million, according to a report by Bloomberg News. The seven-year-old startup already raised a total of $400 million… More
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