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Articles by Deepesh Bhatia
ASEAN on par with US in terms of Global Exports says French central bank
The Association of Southeast Asian Nations (ASEAN) now accounts for nearly 8% of global exports (4% in 1990), on par with the United States, according to France's central bank's latest bulletin. China's growth and the extension of value chains have benefited the region. As a result, it is becoming more integrated with China, which has been its leading supplier since 2007 and client since 2009.
AI Startup Firm Typeface valued at $1 Billion After Salesforce-led Fundraise
Typeface, a generative AI platform for enterprise content creation, said later this week that it was valued at $1 billion after an oversubscribed Series B funding round led by Salesforce's global investment arm, bringing the total capital raised to $165 million. The $100 million round also saw participation from Lightspeed Venture Partners, Madrona, GV (Google Ventures), Menlo Ventures, and M12, Microsoft's Venture Fund, the firm said.
Temasek Sells 1.85 percent stake in Singapore Airlines, remains as Top Investor
Singapore's state investment firm Temasek is selling around S$400 million (US$295.92 million) worth of shares, or a 1.85 per cent stake, in the country's national carrier Singapore Airlines (SIA), according to a term sheet seen by sources this week. The shares are priced between S$7.202 and S$7.283 per share, the sheet shows, representing a 2.89 per cent and 3.97 per cent discount to the last close of S$7.50 later this week.
China's Asia-Pacific Trade Agreement and Digital Economy Accord ambitions to be Backed by New Zealand
During Prime Minister Chris Hipkins' first visit to the country, New Zealand publicly supported China's membership in both an Asia-Pacific trade agreement and a digital economy pact. In September 2021, China applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and in November 2021, it applied to join the Digital Economy Partnership Agreement (DEPA).
Enhanced Business Intelligence through AI
In conversation with Prisila, correspondent, Asia Business Outlook Magazine. Sudeep shares his views on how AI is revolutionizing bringing decision-making in businesses and the future of business intelligence.' How are changes in market dynamics being monitored and predicted using artificial intelligence? How does artificial intelligence (AI) affect marketing? Artificial intelligence is helping to identify patterns and protect from market abuse.
China IC Fund II to Participate as Investor for Hua Hong Semiconductor by Investing CNY 3 Billion
Hua Hong Semiconductor announced on Wednesday that China IC Fund II would participate as a strategic investor in a proposed RMB share issuance by subscribing for RMB shares worth 3 billion yuan ($414.15 million), subject to allotment. According to the company, China's second-largest chip foundry has formed an independent board committee to review and advise its independent shareholders on whether the terms of the China IC Fund subscription are fair and reasonable.
French Chemical Manufacturer to Acquire Stake in South Korea's PIAM for EUR 728 Million
Arkema, a French chemicals manufacturer, announced on Wednesday a planned acquisition of a controlling stake in PI Advanced Materials (PIAM), a South Korean company, for 728 million euros ($797.2 million). According to the business, the acquisition marks a watershed moment in Arkema's evolution into a pure Specialty Materials player.
Alipay+ Now Accessible to Thai Merchants on KTC Payment Gateway
Krungthai Card Public Company Limited (KTC), based in Thailand, has teamed with China-based technology firm Ant Group to develop 'Alipay+,' a suite of global cross-border digital payment and marketing products, on KTC's payment gateway. This latest innovation, according to KTC, aims to boost KTC's Thailand merchant business and accommodate spending from Asian tourists to Thailand via three new Alipay+ partner mobile wallets: AlipayHK, Touch 'n Go eWallet, and Kakao Pay.
Eagerly looking forward to seeing more innovations that will shape the industries of tomorrow
In conversation with Prisila, correspondent, Asia Business Outlook Magazine. Deepesh shares his views on the most crucial benefits for people using Cloud computing. In the conversation, he also discussed about how can the application of blockchain technology and AI boost the IT industry's performance. Cloud computing is now employed in practically every aspect of human existence. How is it incorporated into the SCM system, and how does it assist the company?
Bangladesh Bankers Increase Dollar Purchase Rate for Exporters to Tk 107.5
Bankers in Bangladesh raised the dollar purchase rate for exporters earlier this week in order to reach a unified rate for the greenback by September. Exporters will receive Tk 107.5 for a US dollar beginning July 2, up from Tk 107 previously, according to a circular issued by the Bangladesh Foreign Exchange Dealers' Association (BAFEDA). Other US dollar rates will remain unchanged.
ASEAN Members Recipients of 10% FDI post 2018
In accordance with France's central bank, members of the Association of Southeast Asian Nations (ASEAN) have garnered more than 10% of worldwide direct investment flows since 2018. They have benefited greatly from the internationalisation of value chains as the global economy's centre of gravity shifts to the Asia-Pacific region, according to the report.
APAC GDP Poised to Expand by 3.8%: S&P Global
According to S&P Global, the Asia-Pacific gross domestic product (GDP) excluding China is expected to expand by 3.8% in 2023. According to the research, inflation and external deficits are declining, and central banks are under less pressure to raise interest rates. Policy rates in the United States are predicted to rise before beginning to fall in 2024. As a result, the impact on Asia-Pacific markets and currencies will continue through 2023.
Sime Darby and Ramasay Health Seeking to Sell their Asian Division
Ramsay Health Care Ltd and Malaysian conglomerate Sime Darby Bhd are looking to sell their Asia-focused healthcare joint venture, according to Australia's largest private hospital operator. Ramsay shares rose 6.8 percent to A$58.44, the highest intraday percentage gain since April of last year. In addition, the stock was the top gainer in the benchmark index.
World Bank Sanctions Energy Project in Indonesia by Investing $500 Million
The World Bank announced on Tuesday that it has authorised a $1.14 billion initiative to improve access to cleaner electricity in eastern Indonesia, for which it would contribute $500 million. According to the World Bank, the plan would link around 2 million people to the electrical grid, stimulate solar power investment, and assist Indonesia's national utility Perusahaan Listrik Negara (PLN) in improving its capacity to manage energy transition.
Energy Storage Provider Ampd Secures $8 Million in Series A Funding Eyeing Global Expansion
Ampd Energy (Ampd), a pioneering business and manufacturer of energy storage devices based in Hong Kong, has acquired $8 million in Series A funding for global expansion. MTR Lab Company Limited (MTR Lab) has teamed with technology investors 2150 and Taronga Ventures to co-invest in Ampd, according to a statement issued by Ampd on Tuesday.
Indonesian Enterprise Baskit Raises $3.3 Million in Seed Funding
Baskit, a firm dedicated to digitising and developing distribution enterprises inside Indonesia's supply chains, has raised $3.3 million in seed funding. The latest round of funding comes only three months after the company raised $1.5 million in a Pre-Seed round. Betatron Venture Group, Forge Ventures, Investible, 1982 Ventures, DS/X Ventures, Orvel Ventures, and Michael Sampoerna were among the regional and local investors who participated in the newest round.
Tech Integration via Digital Transformation is Key to Optimizing All Business Processes
Asia Business Outlook recently had the opportunity to interact with Dr. Ebrahim, wherein he shared his insights on ongoing digital transformation techniques and their impact on various business functions. Below are excerpts from the exclusive interview: Can you explain digital transformation in your opinion and the way organizations must approach it? When an organization undergoes digital transformation, it has to focus on four pillars.
Pertamina Joins Hands with Electrum to Manufacture EV Battery Packs
Pertamina, Indonesia's national energy provider, announced late Monday that it planned to collaborate with Electrum to create battery packs for electric motorcycles, with the goal of putting millions of electric two-wheelers on the Southeast Asian country's highways.
NWS Holdings Stocks Soar Post Buyout Deal Valuing upto $4.53 Billion
NWS Holdings rose 10% in Hong Kong on Tuesday after a unit of conglomerate Chow Tai Fook offered to buy up to 97% of the construction firm's stock in a deal valued up to HK$35.5 billion ($4.53 billion). The HK$9.15 per-share offer represents a 14.5% premium over NWS' previous close of HK$7.99. In resumed trading following a halt on Friday pending the news, the shares rose as much as 10.14 percent to HK$8.8, its best since June 2021.
Petronas Signs Agreement With TotalEnergies and Mitsui & Co for Carbon Capture and Storage Project
On Tuesday, Petronas announced the signing of a development agreement with TotalEnergies Carbon Neutrality Ventures and Mitsui & Co. Ltd. to work on a carbon capture and storage (CCS) project in Malaysia. The agreement will cover all phases of CCS development, including appraising mature drained field and saline aquifers for storage, finding possible clients, and developing the required commercial and regulatory frameworks.
Nvidia Collaborates with Snowflake to help Consumers Build AI Models with their own Data
Snowflake, a cloud data analytics company, is collaborating with Nvidia to enable customers ranging from financial institutions to healthcare and retail to build AI models using their own data. On Monday, the two companies announced their collaboration at Snowflake Summit 2023. "In the old days, in small data computing, you moved data to the computer," said Nvidia CEO Jensen Huang to Reuters. "However, when you have massive amounts of data, as Snowflake does, and a mountain of proprietary data...
Long Son Petrochemicals to Begin Commercial Production in Vietnam
SCG Chemicals-owned Long Son Petrochemicals will begin commercial production at its petrochemical facility in southern Vietnam in September, according to the CEO of Thai firm Siam Cement Group on Monday. Siam Cement Group's Roongrote Rangsiyopash stated on the sidelines of an industry event that the company is in the process of testing each working unit at the complex. SCG Chemicals is owned by Siam Cement Group.
IBM To Acquire Apptio for $4.6 Billion to enhance Cloud and Automation Capabilities
In the latest deal to enhance its cloud and automation capabilities, IBM announced on Monday that it will acquire cloud software company Apptio from Vista Equity Partners for $4.6 billion in cash. In premarket trade, IBM shares were down less than 1%. IBM stated that it will finance the transaction with cash on hand and anticipates that it will close in the second half of 2023.
Eagerly looking forward to seeing more innovations that will shape the industries of tomorrow
In conversation with Prisila, correspondent, Asia Business Outlook Magazine. Deepesh shares his views on the most crucial benefits for people using Cloud computing. In the conversation, he also discussed about how can the application of blockchain technology and AI boost the IT industry's performance. Cloud computing is now employed in practically every aspect of human existence. How is it incorporated into the SCM system, and how does it assist the company?
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