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Articles by Krishnan Rajagopalan
09.12.23 -- How To Accelerate Digital Clinical Transformation
We are three years away from when the hype machine surrounding decentralized trials first got revved up, but is interest really slowing? Join Clinical Leader Live on September 22nd as we check in with two sponsors to see how they are adapting to DCTs — hybrid, virtual, remote, home-based, or whatever the newest lingo is. We also dig into the FDA guidance and get the perspective of a site owner and advocate, Dr. Daniel Fox.
Unlocking the Potential of Decentralized Applications in Blockchain Development
William Mougayar, Executive Chairman of the Kin Foundation once said "The blockchain cannot be described just as a revolution. It is a tsunami-like phenomenon, slowly advancing and gradually enveloping everything along its way by the force of its progression."Indeed, blockchain technology has came a long way since then and has sparked a wave of innovation and disruption among an extensive variety of industries.
Chinese Authorities to Reduce Stamp Duty on Domestic Stock Trading by 50%
Based on three people with knowledge of the matter, Chinese authorities are planning to cut the stamp duty on domestic stock trading by up to 50% in an effort to revitalise the country's struggling stock market. Chinese regulators, including the Ministry of Finance, submitted a draught proposal to the cabinet earlier this month, according to two of the people, adding that a decision could be made and announced as soon as Friday.
HSBC Global Looking to ASEAN Region for Growth
HSBC Global Private Banking is leveraging its international connectivity and investment expertise to meet the increasingly sophisticated and international needs of its high-net-worth clients in Thailand. Given the Western economic slowdown, Asia and ASEAN, according to the company, offer high-growth potential and opportunities for businesses to expand in the region.
CtrlS and NT Form Strategic Partnership for Thailand's Upcoming Datacenter Campus
CtrlS Datacenters Ltd, Asia's largest Rated-4 Datacenter (DC) operator, is collaborating with National Telecom Public Company (NT), a telecom provider who has the most extensive international communication networks and the most submarine cables landing in Thailand, for its upcoming 150-MW datacenter campus at the Eastern Economic Corridor (EEC) in Chonburi, Thailand.
Saudi Arabia, South Korea and Singapore Approach India Seeking Space Collaborations
Following the successful landing of Chandrayaan-3's lander module on Aug 23, at least three countries — Saudi Arabia, South Korea, and Singapore — have approached India for possible space collaborations. Saudi Arabia appeared eager to move quickly in the area, with the issue expected to be discussed on the sidelines of the G20 leaders' meeting in the capital, according to government officials.
ASEAN to Commence Talks Pertaining to Digital Economy
The 55th Association of Southeast Asian Nations (ASEAN) Economic Ministers (AEM) meeting, held recently in Semarang, Indonesia, included a regional digital economy pact on the agenda. The meeting agreed to conduct research on the ASEAN Digital Economy Framework Agreement (DEFA). According to an ASEAN joint statement, it will pave the way for members to begin negotiating the pact.
Bilateral Trade Between India and Taiwan Reaches $8.45 Billion, sees 9.8% increase from 2021
In the business world, India and Taiwan are developing stronger ties. According to Taiwan's official data, India is the country's 17th largest trading partner and 14th largest export destination.
Amazon in talks with Disney over ESPN Stake Acquisition
The Information reported on August 24 that Amazon.com is in early talks with Walt Disney Co. about working on the streaming version of ESPN that it is developing and possibly taking a minority stake in the sports network. According to the report, Disney and ESPN are still deciding on an appropriate price for the new service. ESPN is considering charging between $20 and $35 per month for the new streaming service, making it the most expensive streaming service in the United States.
Meta Announces Launch of Code Lama, AI Model Assist in Writing Computer Code
On August 24, Meta Platforms announced the release of an artificial intelligence (AI) model designed to aid in the writing of computer code, furthering its push into the new technology. Code Llama, which will be available for free, can write code based on human text prompts and can also be used for code completion and debugging, according to a blog post by the social media giant.
UK and India to Conclude Bilateral Trade Talks Pertaining Immigration
On Aug 25, India and the United Kingdom said they are working towards the "early conclusion" of a bilateral trade agreement that will include people mobility for business purposes, but they refused to set a deadline. "Visas and visa liberalisation are not covered by the free trade agreement." It's an immigration issue that our home office handles, and we use a points-based system. What I look at is business, and business mobility is incorporated into the trade framework.
68% of CIOs in India do not Prefer Build Strategy Approach for Banking Platforms, shows New Studies
Backbase, the global leader in Engagement Banking, announced the publication of an APAC-focused IDC Infobrief titled "Accelerating Customer-Centric Transformation by Balancing Build and Buy - A Collaborative Approach Towards Sustainable Digital Banking Architecture." ,On Aug 25. This in-depth report offers a regional perspective on digital transformation by drawing insights from 125 banks and 316 CIOs in APAC, including the Indian market.
China Central Bank Asks Domestic Banks to Regulate Outward Investments by Bond Connect Scheme
Based on two sources with direct knowledge of the matter, China's central bank has asked some domestic banks to reduce their outward investments through the Bond Connect scheme, adding to a slew of recent measures aimed at supporting the Chinese yuan. According to the sources, the People's Bank of China (PBOC) window guidance appears to be aimed at containing yuan flows into Hong Kong and limiting yuan supply in offshore markets.
China Central Bank Stabilises Yuan by Tightening Liquidity
According to a former central banker, increased yuan bill sales by China's central bank in Hong Kong this week helped tighten liquidity in the offshore market, helping to stabilise the yuan by making it more expensive for speculators to short the currency. Sheng Songcheng, a former director of the People's Bank of China's (PBOC) statistics and analysis department, made the remarks, according to the state-owned Shanghai Securities News on August 24.
Binance Labs to Invest in Pendle Finance, seeks Expansion in Blockchain Ecosystems
Binance Labs, the company's venture capital and incubation arm, has invested in Pendle Finance, a DeFi protocol that enables yield tokenization and trading.
Maintaining Standards Amidst Market Changes: How Executives Handle Supply Chain Disruptions
In conversation with Prisila, a correspondent at Asia Business Outlook Magazine, Sanjiiv discusses strategies employed by business executives to guarantee suppliers' adherence to quality and compliance benchmarks, along with their approaches to managing supply chain disturbances arising from shifts in sourcing markets. Sanjiv Chatterjee has had a 35-year career in the tea industry, starting as a tea taster and buyer before moving on to various roles in Lipton, BBLIL, and Hindustan Unilever Ltd.
Blackstone China Unit Receives nod to Raise Funds for Overseas Investments
Blackstone's newly formed China unit has received regulatory approval to raise funds for overseas investment, joining other global asset managers in attempting to capitalise on Chinese investor demand for foreign assets. According to a notice from the regulator, Blackstone registered a fund management unit with the Asset Management Association of China under the qualified domestic limited partnership (QDLP) programme.
Kuala Lumpur Kepong to Buy Stake in Boustead Plantations
Malaysian palm oil firm Kuala Lumpur Kepong is buying a stake in smaller peer Boustead Plantations from conglomerate Boustead Holdings, according to local media The Edge and New Straits Times on August 24. Boustead Plantations shares, worth $3 billion ringgit ($646.27 million), were suspended from trading on Thursday pending an announcement.
Permodalan Nasional Bhd to Merge Sime Darby Motors and Perusahaan Otomobil Kedua to form a Conglomerate with Net Worth of $2.15 Billion
Permodalan Nasional Bhd (PNB), Malaysia's largest asset manager, is considering combining Sime Darby Motors and Perusahaan Otomobil Kedua (Perodua) to form a local automotive conglomerate worth more than 10 billion ringgit ($2.15 billion), according to two sources.
Chinese Regulator Approves Allianz Global to Establish an Onshore Management Fund
China's securities regulator approved Allianz Global Investors (Allianz GI) on Aug 24 to establish an onshore fund management company, as Beijing vowed to step up efforts to attract foreign companies amid slowing economic growth. According to an official record from the regulator, the asset manager, an investment management subsidiary of German insurer Allianz, committed 300 million yuan ($41.20 million) to establish the unit in China's $3.8 trillion mutual fund market.
Shell to Sell its Singapore Refining and Petrochemicals Plant, Employs Goldman Sachs to Navigate the Deal
Shell is considering selling its Singapore refining and petrochemical plants as part of a broader strategic review, according to several sources close to the matter, and has hired investment bank Goldman Sachs to investigate a potential deal. Wael Sawan, the global energy company's new CEO, plans to cut spending over the next two years to boost profitability while remaining committed to achieving net zero emissions by 2050.
VNG Corp. To File for IPO in USA
According to a Securities and Exchange Commission filing, Vietnamese internet company VNG Corp has filed for an initial public offering (IPO) in the United States through VNG Ltd. VNG will become the first Vietnamese technology company to be listed in the United States as a result of the listing. VNG stated in the filing that it intended to offer 21.7 million shares at an undisclosed price range.
India's Lunar Triumph: Chandrayaan-3 Achieves Unprecedented Feat by Landing on Moon's Enigmatic South Pole
India's Third Lunar Mission, Chandrayaan-3, Achieves Historic Moon Landing on August 23rd at 6.03 PM IST. This Extraordinary Accomplishment Establishes India as the First Nation to Successfully Reach the Moon's Southern Pole, Marking the Fourth Country Ever to Achieve Lunar Landing, Following the United States, the Former Soviet Union, and China. The Epic Journey of Chandrayaan-3 Commenced on July 14th as the Spacecraft Embarked from Sriharikota.
Boxs Raises $1.6 Million in a Seed Round Led by PeakXV, Aiming Product Catalog Expansion
Boxs, a business-to-business manufacturing platform for interior designers and architects, announced a $1.6 million funding round led by Peak XV's Surge on Aug 22. Titan Capital and the Zetwerk founders also participated in the seed funding round. According to a company statement, the new funds will be used to strengthen Boxs' product offering and expand its manufacturing capabilities. Interior designers can use Boxs to access a library of modules from which to create designs.
Solar AI Secures $1.5 Million in its Seed Round from Venture Capitalists and Angel Investors
Solar AI Technologies' founder, Bolong Chew, says the company wants to make solar energy more accessible in Southeast Asia by offering a rent-to-own model that allows customers to start saving on their energy bills right away. Earth Venture Capital led the $1.5 million seed round, with participation from Undivided Ventures, Investible, and climate-tech angel investor David Pardo.
Temasek Foundation and Touchstone Launches Competition for Climate Change Combating Startups
On Aug 21, a new global startup competition was launched in Vietnam, aimed at those with early-stage climate technology projects who want to pilot their solutions in the South-east Asian country. They will compete in the Net Zero Challenge for a share of the equity-free prize money of 15 billion Vietnamese dong (S$854,800).
Zeekr Seeks Global Investors Interest Ahead of Upcoming IPO
Zeekr, the premium electric vehicle (EV) brand of Chinese automaker Geely, will meet with global investors beginning in August to gauge interest in a US$1 billion IPO, according to people with direct knowledge of the matter. According to two sources, the company is hoping that the share sale will result in a valuation of more than US$13 billion, which was achieved during a private US$750 million funding round in February.
Japan Witnesses Inflation amid Lax Monetary Policies
Data show that Japan may be seeing early signs of sticky inflation, with several measures of broad price trends reaching record highs in July, bolstering the case for a shift away from decades of ultra-easy monetary policy. The Bank of Japan (BOJ) publishes several measures of underlying inflation that examine the distribution of price changes based on the government's consumer price data.
Xiaomi Secures Approval to Manufacture EVs
According to two people familiar with the matter, Xiaomi Corp has received approval from China's state planner to manufacture electric vehicles (EVs), a major step towards the smartphone maker's goal of producing cars by early next year. The National Development and Reform Commission (NDRC), which regulates new investments and production capacity in China's auto industry, approved EV manufacturing for Beijing-based Xiaomi earlier this month.
NGeneBio Partners with MGI to Expand Cancer Testing Products Globally
MGI, a China-based company dedicated to developing core tools and technology to advance life science, and NGeneBio, a South Korean startup specialising in next-generation sequencing-based diagnostics, have signed a Memorandum of Understanding (MoU) to expand commercial access to NGeneBio's cancer testing products globally.
India to Contribute 40% to South Asian Business, says Regional President for South Asia and Korea of Avnet
India stands to benefit from the exit strategy of many multinational corporations from China. However, according to Tan Aik Hoon, regional president for South Asia and Korea at global electronic components distributor Avnet, it is not yet at the same level as peers such as Vietnam, Thailand, and Malaysia.
KBank to Acquire Consumer Finance Provider Home Credit Vietnam at a Valuation of $1 Billion
Kasikornbank, Thailand's second-largest lender, is in talks to acquire consumer finance provider Home Credit Vietnam in a deal worth up to $1 billion, according to two sources. By 2027, the Bangkok-based lender, also known as KBank, hopes to be one of Vietnam's top 20 banks in terms of assets. According to data, it has total assets worth $119.7 billion, second only to Bangkok Bank in Thailand.
VMWare Partners with Nvidia Corp to Develop AI For Businesses
On August 22, VMware announced a new set of software tools developed in collaboration with Nvidia Corp aimed at businesses that want to develop generative artificial intelligence in their own data centres rather than the cloud. VMware, which is on the verge of being acquired by chipmaker Broadcom for $69 billion, creates software that corporations use to run their privately owned data centres.
Porsche Expecting 80% of its Sales in India from EVs
Porsche AG, a German luxury sports car maker, expects fully electrified vehicles to account for roughly 80% of its sales in India by 2030 and is planning three such new vehicles to be introduced here early next year, according to a senior company official on August 22.
GEODIS Makes Investments in Asia Targeting Road Network Expansion
GEODIS, a global leader in the transport and logistics sector, is driving its growth in Asia with strategic investments in its capabilities and infrastructure in the region. The company has expanded its Road Network from Southeast Asia (SEA) to China – solidifying its position as a leader in providing secure day-definite, cost-efficient and environmentally-friendly solutions connecting Singapore, Malaysia, Thailand, Vietnam and China.
Seoul Metropolitan Government to Transform Yeouido into a Global Financial Hub by English Integration
The Seoul Metropolitan Government (SMG) announced on Aug 21 that it has begun the process of making Yeouido, Seoul's finance and investment banking district, more English-friendly in order to transform it into a global financial hub. "In the long run, we are considering making English the official language of Yeouido in order to attract foreign investment," said SMG official Kim Guk-jin.
UK to Assist ASEAN Economy Integration by Funneling GBP 25M
According to the Third ASEAN Economic Ministers (AEM)-UK Meeting, the United Kingdom and the Association of Southeast Asian Nations (ASEAN) are co-designing the new ASEAN-UK Economic Integration Programme, in which the UK government plans to spend up to £25 million to support ASEAN economic integration over the next five years.
India and ASEAN to Revise 13 year old Trade Agreement
On August 21, India and ASEAN, India's second largest trading partner after the European Union, agreed to review their 13-year-old trade agreement. The move comes after repeated attempts from New Delhi, which believes the agreement does not benefit Indian exporters, with commerce minister Piyush Goyal describing it as "most ill-conceived." India's concerns stem from the fact that some of its exports, such as steel products, are not fully benefiting from the treaty.
India's Direct Selling Industry Witnesses 5.4% Growth, Ranked 11th Globally
While the global industry shrank by 1.5% in 2022 to $172.89 billion, India's direct selling sector grew by 5.4% over 2021 retail sales. According to a World Federation of Direct Selling Association (WFDSA) report, India has risen to 11th place in the ranking of top direct selling markets, with retail sales of $3.23 billion (approximately Rs 26,852 crore) in 2022. The Indian market achieved the highest Compounded Annual Growth Rate of more than 13.3% in the last three years, it added.
Pertamina Geothermal Energy Inks MoU with Kenyan Enterprises with regards to Geothermal Power Projects
As stated by Indonesia's foreign minister, Pertamina Geothermal Energy (PGE), a unit of Indonesian state energy firm Pertamina, has signed preliminary agreements with two Kenyan companies to explore partnerships in geothermal power projects.
Mitr Phol to Buyout 75% of Indonesia's Sugar Mill Kebun Tebu Mas (KTM)
Mitr Phol of Thailand announced the acquisition of a 75% stake in Indonesian sugar mill Kebun Tebu Mas (KTM) as Asia's largest sugar and bioenergy producer expands its footprint on the continent. Mitr Phol told Reuters that the purchase of KTM, the country's largest privately-owned sugar mill and refinery, "envisages a pivotal role in advancing Indonesia's self-sufficiency in sugar production." The deal's value was not disclosed.
A Recap on What Happened This Week: Asian Startup News Overview (14th August -August 18th)
August has been an economically active month that has seen innumerable policy introductions, notable being the President of Indonesia is presenting the yearly budget, Chinese regulators introducing measures to resuscitate the stock market, Japan witnessing inflation stabilization, and many more. Startups are increasingly seeing tremendous support and regulations for smoother free market operations, which is good.
India to Increase Electricity Export to Nepal
Nepal Prime Minister Pushpa Kamal Dahal "Prachanda" stated on August 18 that his government intends to increase electricity exports to neighbouring India from 450 MW to 10,000 MW over the next ten years, and the two countries have already signed a preliminary bilateral agreement to that effect.
India's Trade to Exceed $800 Billion in 2023, says GTRI
Despite a slowdown in global demand, India's total exports and imports of goods and services are expected to exceed USD 800 billion in the first half of 2023, according to a report released on Aug 21 by think tank GTRI. According to GTRI analysis, exports of goods and services increased by 1.5 percent to USD 385.4 billion in January-June this year, compared to USD 379.5 billion in January-June 2022.
Japan's Yen Threshold Likely to be 150 against the Dollar, says JP Morgan
Japan's yen intervention threshold is likely to be around 150 per dollar, according to analysts at investment bank JPMorgan on August 21. "We believe the MoF (Ministry of Finance Japan) will refrain from intervening in the FX market around (the) 145 level." "Our JPY buying intervention threshold is around 150," they wrote in a note. On August 21, the yen was trading at 145.87 per dollar, having fallen as low as 146.56 the previous week.
Gojek Joins Hands with Yuu Rewards Club and DBS Bank to Offer Loyalty Rewards to its Users
Gojek today unveiled that it has partnered with yuu Rewards Club and DBS Bank to bring exclusive loyalty rewards and benefits to its users in Singapore. Through the collaboration, Gojek users across all service types, including discounted or vouchered trips, can get rewarded with yuu Points when paying for their rides with a DBS yuu Card or Passion POSB Debit Card.
S.F. Holding Applies for IPO Listing in Hong Kong Stock Exchange
S.F. Holding Co, China's largest express delivery company, filed an application for a second listing on the Hong Kong stock exchange on Aug 21, according to the exchange's website. The filings do not specify how much the company hopes to raise, but the Shenzhen-listed company was reportedly looking to raise $2 billion to $3 billion in May.
HonorTech to Re-launch in India Under Licensing Agreement with Chinese Smartphone Brand Honor
HonorTech will relaunch the Honour brand of smartphones in the country in September, with an initial investment of Rs 1,000 crore, according to a senior company official. HonorTech will work in India under a licensing agreement with the Chinese smart device company Honour for the relaunch. HonorTech CEO Madhav Sheth told PTI that the company's goal is to gain a 4-5 percent market share in terms of volume by the end of next year, translating to a revenue of Rs 10,000 crore.
India Witnesses 120% Surge in EV Sales, 400% Hybrid Vehicles Sales: CyberMedia Research
In accordance with a report released on Aug 21, India saw a 120% increase in electric vehicles (EVs) in the second quarter of this year, driven by a 400% increase in hybrid vehicles. According to a CyberMedia Research (CMR) report, assistance systems (ADAS) have increased by 350% year on year, and the adoption of connected and digital cockpit features has surpassed 60% in passenger vehicles. Introducing new affordable models, such as the MG Comet EV from MG Motors, fueled the surge in EV adoption.
Foodtech Startup ENOUGH Secures $43.5 Million in Capital
ENOUGH, a food technology company with partnerships with Unilever and Marks & Spencer, has raised 40 million euros ($43.5 million), attracting investment despite signs that the alternative meat and protein sector is slowing. ENOUGH, which ferments fungi to produce protein for plant-based chicken, mince, and dairy products, announced that the funding round was led by World Fund and CPT Capital, which was an early investor in Beyond Meat and has a stake in Upside Foods.
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