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RBI imposes Rs 3 crore penalty on ICICI Bank

A penalty of Rs 3 crore has been imposed on ICICI Bank Ltd for contravention of certain directions, the Reserve Bank of India said on Monday. The RBI has imposed a <a href="/tag/monetary-penalty">monetary penalty of Rs 3 crore on ICICI Bank for "contravention of certain directions issued by the RBI contained in Master Circular on…

Toyota to produce record 10.4m cars in FY22

TOKYO -- Toyota Motor plans to produce a total of 10.4 million units globally combining its Toyota and Lexus brands for the fiscal year through March 2023, Nikkei has learned Saturday. This will top 10 million units for the first time, boosted by increased demand in the wake of a successful vaccination campaign as well…

Asian Development Bank to end coal, oil and gas financing

SINGAPORE (Reuters) -- The Asian Development Bank will no longer finance coal mining or oil and natural gas production and exploration, it announced in a draft policy statement on Friday, a move welcomed by environmental groups, which said it was a decade overdue.The multilateral development bank, which focuses on eradicating poverty in Asia, provided no…

Online speech shield under fire as Trump Facebook ban stays

Lurking beneath Facebook's decision on whether to continue Donald Trump's suspension from its platform is a far more complex and consequential question: Do the protections carved out for companies when the internet was in its infancy 25 years ago make sense when some of them have become global powerhouses with almost unlimited reach? The companies…

50 rising startups in Korea

Which are the startups that are on the path to becoming the next big thing? One way to tell would be when they’ve raised a new round. Using Tech in Asia’s data, we’ve generated this constantly updated list of startups in Korea who’ve recently raised funding. The list only includes companies up to the series…

Japan chip material makers ramp up output in South Korea and Taiwan

TOKYO -- Japanese makers of the raw materials for computer chips are moving to increase production in South Korea and Taiwan as they look to diversify their supply chains and meet rising demand in important markets. Tokyo Ohka Kogyo has doubled its photoresist production capacity in South Korea, while Daikin Industries will build a factory…

U.S. Justice Department probing Kabbage, fintechs over PPP loan calculations: Report

The U.S. Department of Justice is investigating whether financial technology companies including Atlanta-based Kabbage may have erred while distributing billions of dollars in pandemic aid to struggling small businesses, three people with knowledge of the matter told Reuters. The investigation, led by the Justice Department's civil division, is examining whether Kabbage and other fintech companies…

Amazon, union tussle over identifying witnesses as U.S. labor board starts hearing

Amazon lost a tussle on Friday over whether it could learn the names of witnesses before they testify at a hearing investigating claims that the company illegally interfered with a vote on unionizing an Alabama facility. Amazon warehouse workers outside Birmingham, Alabama, voted against forming a union by a more than 2-to-1 margin in early…

Dogecoin in spotlight as cryptocurrency backer Musk makes 'SNL' appearance

With the price of dogecoin surging, investors are looking ahead to Elon Musk's guest-host spot on this weekend's "Saturday Night Live" comedy sketch TV show after the billionaire's tweets this year turned the once-obscure digital currency into a speculator's dream.The Tesla chief executive will host the show at 11:30 p.m. EDT on Saturday (0330 GMT…

Meet the company that’s helping Malaysian restaurants tide through Covid-19 restrictions

As in most countries all over the world, food delivery in Malaysia has risen to prominence over the past year, thanks to Covid-19 and the related lockdown measures. Restaurants big and small scrambled to digitalize to varying levels of success but almost always with some difficulty. However, for one local food and beverage (F&B) company,…

HCL offers big insurance cover to employees for Covid

(This story originally appeared in on May 08, 2021)HCL Technologies is offering a Rs 30-lakh insurance cover and an additional Rs 7-lakh employee deposit insurance cover to employees for Covid. In the event of an employee's unfortunate demise due to Covid, the families will get the full value of this cover, as also an amount…

Bezos sells $2.4 billion of Amazon in second wave this week

Jeff Bezos sold $2.4 billion of Amazon.com Inc. stock, bringing the amount he’s unloaded this week to almost $5 billion.Bezos sold 739,032 shares under a pre-arranged trading plan, according to U.S. Securities and Exchange Commission filings, days after he disposed of an identical amount. He said earlier this week in a filing that he plans…

Singapore wireless charging startup Xnergy gets $10m war chest

BEIJING -- Wireless charging technology developer Xnergy has raised just under $10 million from FineWill in a pre-Series A funding round aimed at developing the Chinese market.Founded in Singapore in 2017, Xnergy develops wireless charging technology for autonomous robots. Its main product is a charging stand that functions regardless of the type of robot or…

E-commerce firms ease targets, performance metrics

Online companies Myntra, Ajio and Tata Cliq have relaxed targets, profit and other performance metrics for their businesses, employees, delivery partners and vendors as the country reels under a devastating second wave of Covid-19.“Our deadlines, targets and performance metrics are taking a backseat as everyone’s well-being is on top of our minds,” Amar Nagaram, chief…

Centre plans to launch digital delivery of healthcare services, pilot on in 6 UTs

The Centre is likely to launch the digital delivery of healthcare services together with private sector stakeholders within two years, ahead of which pilot programmes are underway in six Union territories, said National Health Authority chief executive RS Sharma.“We are looking forward to implementing the National Digital Health Mission rigorously. We will be able to…

Covid devices from China take off again

Supplies of Covid homecare devices such as oxygen concentrators and oximeters from China could ease as chartered and cargo flights from the neighbouring country and Hong Kong resume operations. That could help meet the pressing need for such products as the country seeks to cope with the current surge in infections and people struggle for…

Government asks social media platforms to curb Covid-19 misinformation

Social media platforms have been asked to curb fake news and misinformation related to the Covid-19 pandemic. The government on Friday sent an advisory to platforms — such as Facebook, WhatsApp, Twitter and Instagram — to “initiate awareness campaigns” among users to not circulate “any false news or misinformation" that is likely to create “panic…

Perseverance rover captures sound of Ingenuity flying on Mars

The Mars Ingenuity helicopter on the surface of Mars, April 29, 2021. /CFP NASA's Perseverance rover has for the first time captured the low-pitched whirring of the Ingenuity helicopter's blades as it flies through the rarefied Martian atmosphere.The space agency on Friday released new footage shot by the six-wheeled robot of its rotorcraft companion making…

US-China tech war: Beijing’s secret chipmaking champions

Once a month, senior executives of Yangtze Memory Technologies Co. fly to Beijing for a flurry of meetings with China’s top economic management bodies. They focus on the company’s efforts to build some of the world’s most advanced computer memory chips—and its progress on weaning itself off American technology. Based in the central riverside city…

Nintendo learns Wii U lessons to reap Switch profits

OSAKA -- Sales of the Nintendo Switch gaming console are expected to top 100 million units in the fiscal year ending in March 2022, surpassing those of the old Wii U console.Nintendo's software strategy for the Switch looks much stronger than for its predecessor. Nintendo sold 28.83 million units of the Switch in fiscal 2020,…

Meet the 50 top-funded startups and tech companies in Korea

Which Korean tech companies are making the most impact? One way to judge – although imperfect – would be the amount of money they have raised. Using Tech in Asia’s data, we’ve generated this constantly updated list of 50 startups and tech companies in Korea who have raised the most money from investors. To keep…

Weekend Long Briefing: What China’s Policymakers Said About Financial Opening and Carbon Neutrality at Boao

Boao, South China’s Hainan province. Photo: VCG Spring in China is usually heavy with conferences. After the Two Sessions, there is usually the China Development Forum in Beijing and the Boao Forum in tropical Hainan province, from which China watchers can catch many policy signals. We’ve collected views and insights from the Boao Forum in…

This entrepreneur aims to build Malaysia’s first sharia-compliant neobank | Startup stories

Joe McGuire, co-founder of Kuala Lumpur-based fintech startup MyMy, has been involved in banking and fintech since his early years. At the age of 29, he was already one of the top bankers at Commonwealth Bank Australia (CBA), one of Australia’s largest banks. As the youngest state manager for Victoria and Tasmania at CBA, two regions…

SE Asia’s last-mile logistics players carve their own niches as competition heats up

The pandemic-driven e-commerce boom of 2020 has sparked an unprecedented interest in Southeast Asia’s logistics sector, which will continue to be the backbone of the digital economy even in post-COVID times.

China’s carbon neutrality target gets a leg-up as Three Gorges unit preps for Shanghai IPO

Photo: Karsten Würth/ Unsplash.com State-owned China Three Gorges, best known as the operator of the world’s largest hydroelectric power plant, is preparing to list a wind and solar power subsidiary in Shanghai in what would be the country’s biggest domestic IPO in more than a year. carbon neutrality clean energy Three Gorges wind energy

Shares of Tencent-backed insurtech firm Waterdrop slumps in NYSE debut

Shares of Chinese gaming giant Tencent-backed online insurance technology firm Waterdrop Inc tumbled 14.5% in their New York debut on Friday. American depositary shares of the company opened at $10.25, before recovering to $11.50. The shares were priced at $12 apiece in the IPO, raising $360 million through the stock sale. Waterdrop’s founder and chief…

China’s youth turn to Chairman Mao’s writings for comfort after tech executive says they sleep too much

A collection of Chairman Mao Zedong’s articles has become one of the best online sellers in China in recent days as many people turn to his advice for the country’s youth to take more rest. The Quotations from Chairman Mao Zedong collection was the sixth bestseller in the past 24 hours on online platform JD.com,…

Japan's art 'cloning' technology set to revamp global museums

TOKYO -- The cloning of cultural properties, the creation of highly precise replicas of important artifacts developed by Tokyo University of the Arts researchers, has continued to evolve.Researchers have gone beyond just precisely duplicating works of art. Now, using cutting-edge technology and the fruit of their research, they are able to make them look exactly…

Japan's art "cloning" technology set to revamp global museums

TOKYO -- The cloning of cultural properties, the creation of highly precise replicas of important artifacts developed by Tokyo University of the Arts researchers, has continued to evolve.Researchers have gone beyond just precisely duplicating works of art. Now, using cutting-edge technology and the fruit of their research, they are able to make them look exactly…

Google will make Android apps tell users about data collection

The Google Play safety section will also tell users if an app encrypts data. MOUNTAIN VIEW (BLOOMBERG) - Google said it will create a new safety section in its Play mobile-app store that will let Android smartphone users see what data developers collect about them and share, plus give access to additional privacy and security…

CATEGORIES

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Swedish buyout major EQT sells Singapore corporate services firm In.Corp to TA Associates

Sequoia-backed gym chain Supermonkey close to unicorn status post Series E round

Amazon Seller Services gets fresh fund infusion of Rs 915 crore

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Govt adds additional security layer to prevent misuse of vaccination slots

Tech giants caught in the crossfire as India delays nod for import of Chinese Wifi devices

Tencent-backed insurance service Waterdrop raises USD 360 million in US IPO

Honda pauses Indian auto production amid virus surge

India hardens 5G freezeout on China with border tensions

Japan Airlines’ Q4 operating loss quadruples as pandemic curbs air travel

Indian airlines risk aircraft repossessions as fresh COVID-19 wave roils travel

Analysis: Why Alibaba ditched new property venture

Why HDFC remains cautious despite clocking in strong profit growth

Indonesia grants licence to Tokopedia’s P2P arm, shuts Kitabisa’s donation programme

Amazon postpones Prime Day sale in India amid surge in Covid-19 cases

Data breaches spike

SEA Digest: Gojek to launch car service in Vietnam; Facebook’s accelerator programme

Self-driving on expressways: Is China ready to speed up?

Three Gorges unit preps $3.5bn IPO to push Xi's clean energy agenda

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Succession plan a continuous process, bank board to take call at opportune time: Uday Kotak

WhatsApp scraps May 15 deadline for accepting privacy policy terms

Singapore-Based E-Commerce Aggregator Una Brands Raises $40 Million for Asia-Pacific Acquisitions

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Video Streamer iQiyi Apologizes for Milk Gimmick Gone Sour

East Ventures-backed Indonesian ecommerce firm Sirclo nets $45m in funding round

Singaporean Ride-Hailing Firm Grab to Launch New Services for Premium Passengers, Pet Owners

Hong Kong tycoon Li Ka-shing’s firm to focus on funding SEA’s tech startups

44 Israeli research projects headed for space on Rakia Mission

With TSMC, ASML and Intel nowhere to be seen, China’s small semiconductor players take centre stage at industry expo