Business

Fintech funding in Southeast Asia triples to record $3.5 bln this yr

Financial technology (fintech) funding in Southeast Asia jumped more than three times in the first nine months of this year compared with full-year 2020, reaching a record $3.5 billion, a report showed on Wednesday. The rebound was driven by 167 deals including 13 mega rounds, which accounted for $2 billion of the total funding, according […]

Business

Oracle partners with India’s Airtel in boost for cloud business

Cloud service provider Oracle (ORCL.N) on Wednesday said it was partnering with Indian telecoms group Bharti Airtel’s (BRTI.NS) data centre unit in an expansion push that will widen the U.S. company’s customer access in one of its fastest-growing markets. The partnership with Airtel Nxtra will help Oracle, which runs a cloud region in financial capital […]

Business

GE, an industrial conglomerate pioneer, to break up

General Electric Co (GE.N) will split into three public companies as the storied U.S. industrial conglomerate seeks to simplify its business, pare down debt and breathe life into a battered share price, the company said on Tuesday. The split marks the end of the 129-year-old conglomerate that was once the most valuable U.S. corporation and […]

Business

ABN Amro considers share buyback after surprise Q3 profit jump

“Developments in the third quarter were encouraging,” Chief Executive Officer Robert Swaak said. “Demand for lending showed signs of recovery and both our mortgage book and corporate loan book grew.” Credit demand was helped by the lifting of many coronavirus restrictions in the Netherlands, as bars, restaurants and stores were gradually allowed to reopen in […]

Business

The inflation conundrum

There’s no respite for global policymakers from the dreaded “I” word. They may have spent the greater part of the last two weeks reiterating their belief that high inflation is transitory, but markets remain wary of buying into that message. Hardly surprising, given recent data prints. Chinese factory gate prices gained at their fastest clip […]

Business

China import fair sees $70.72 bln worth of ‘intentional’ deals signed

The fourth China International Import Expo (CIIE) saw $70.62 billion worth of “intentional” deals signed, down 2.6% from last year, state broadcaster CCTV said, citing an organiser of the event that closed on Wednesday. It cited Sun Chenghai, deputy director-general of the bureau responsible for organising the week-long import fair in the commercial hub of […]

Business

Nasdaq receives Nordic power spot market licence, start date not set

Nasdaq (NDAQ.O) has received the right to operate in the Nordic day-ahead power market, it said late on Tuesday, after Swedish regulatory authorities issued the exchange operator a licence. The Nordic market comprises 15 individual bidding, or price, zones, and a daily auction determines a common system price as well as individual prices for each […]