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Funding Societies hires GoBear co-founder, expands C-suite

FUNDING Societies, a digital financing platform for small and medium enterprises in South-east Asia, has named a chief financial officer (CFO), chief technology officer (CTO) and chief product officer (CPO).

Markets

MAS to ramp up supervisory engagement with banks to ensure smooth transition to Sora by end-2021

THE Monetary Authority of Singapore (MAS) will be stepping up supervisory engagement to ensure that banks in the Republic are well prepared to transition from Swap Offer Rate (SOR) - a key interest rate benchmark - to the Singapore Overnight Rate Average (Sora) by the end of...

Markets

Silver Lake to invest US$1 billion in retail arm of India’s Reliance

Reliance Industries Ltd said on Wednesday U.S. private equity firm Silver Lake Partners will invest US$1.02 billion in its retail business, helping the Mukesh Ambani-controlled company widen its lead as India's biggest retailer.

Markets

Virgin Australia to cull a third of its Boeing 737 fleet under Bain ownership

Virgin Australia Holdings Ltd said on Wednesday it is returning a third of its fleet of Boeing Co 737 planes to lessors and financiers as part of a turnaround plan under new owner Bain Capital.

Markets

UOB’s PE unit issues disclosure statement on impact investing framework

UOB Venture Management (UOBVM), the private equity arm of UOB, on Wednesday issued its disclosure statement on the Operating Principles for Impact Management (Impact Principles).

Markets

Mexico voids BlackRock consortium’s bid for ‘Mayan Train’ project

Mexico declared void a tender process, where a consortium that includes U.S. investment group BlackRock Inc was the sole bidder, to build a section of one of the government's flagship infrastructure projects, the so-called "Mayan Train".

Markets

US prepares orders blocking cotton, tomato imports from China’s Xinjiang over forced labour

WASHINGTON: US Customs and Border Protection officials have prepared orders to block imports of cotton and tomato products from western China's Xinjiang region over allegations they are produced with forced labour, although a formal announcement has been delayed. The Trump administration ...

Markets

US firms in China increasingly fear soured ties will last for years: Survey

U.S. companies in China are increasingly fretful that trade tensions between the world's two biggest economies will drag out over years and nearly a third said their ability to retain staff had been affected, a survey showed.

Markets

India’s Reliance Jio to roll out 100 million low-cost phones by December: Business Standard

Reliance Industries Ltd's telecom unit is looking to outsource the manufacturing of over 100 million low-cost smartphones that will be built on Google's Android platform, India's Business Standard newspaper reported, citing sources.

Markets

Samsung, LG Display to stop supplying panels to Huawei due to US restrictions – Chosun

Samsung Electronics' display unit and LG Display Co Ltd are expected to stop supplying panels for premium smartphones to Huawei Technologies due to U.S. restrictions, South Korean online media Chosun Biz reported on Wednesday.

Markets

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