Golden Gate Ventures closes new $100M fund for Southeast Asia

Singapore’s Golden Gate Ventures has announced the close of its newest (and third) fund for Southeast Asia at a total of $100 million. The fund hit a first close in the summer, as TechCrunch reported at the time, and now it has reached full capacity. Seven-year-old Golden Gate said its…

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Africas Jumo raises $52M led by Goldman to bring its fintech services to Asia

Asia’s fintech scene is poised to get a little larger after Jumo, a company that offers loans to the unbanked in Africa, revealed plans to expand into the continent. To get the ball rolling, Jumo has opened an office in Singapore to lead the way and landed a massive $52 million…

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A new foreign investment bill will impact venture capital and the US startup ecosystem

Bobby Franklin President Trump’s time in office has been punctuated by rising tension with China on a host of economic issues. He’s received bipartisan criticism for the impact of tariffs on Chinese goods and the resulting retaliation against American exports. These concerns led to passage of the Foreign Investment Risk Review…

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Sino-US investment firms are targeting over $4 billion for new funds launched this year

As limited partners increasingly demand greater exposure to emerging market opportunities, venture capital firms with a focus on Asia are bulking up their funds and chasing deals in an increasingly competitive race to own stakes in the next generation of local startups with global aspirations. Over the last year, firms,…

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US to impose new tariffs on additional $200B worth of Chinese imports

Video US begins process for tariffs on $200B in Chinese products ‘Special Report’ panel reacts to the strategy behind the Trump administration’s new charges on Chinese products. The Trump administration announced Tuesday that it has begun the process of implementing fresh tariffs on $200 billion worth of imported Chinese goods.…

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Trump, Juncker Tout Deal Pulling Back From U.S.-EU Trade War

President Donald Trump and European Commission President Jean-Claude Juncker agreed to suspend new tariffs while negotiating over trade, pulling the U.S. and Europe back from the edge of a transatlantic trade war. The leaders pledged to expand European imports of U.S. liquefied natural gas and soybeans and both vowed to…

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Millionaires Now Control Half of the World’s Personal Wealth

The rich are getting a lot richer and doing so a lot faster. Personal wealth around the globe reached $201.9 trillion last year, a 12 percent gain from 2016 and the strongest annual pace in the past five years, Boston Consulting Group said in a Source: Boston Consulting Group Last year’s…

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It Took This Family Two Years To Realize Their Pet Dog Wasn’t A Dog

It’s not every day you see a 110-kilogram (250-pound) dog walking on hind legs. For one family in southwest China, however, that’s exactly what their Tibetan mastiff started doing, sparking some serious questions. While on vacation in 2016, Su Yun brought what she believed to be a Tibetan mastiff to…

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This Stock’s 9,500% Rally Created a Town of Millionaires

At most big companies, it’s pretty clear who the millionaires are: top executives, rainmakers, science whizzes with PhDs. But at China’s Bloomberg. The previously unreported value of their holdings has ballooned as Sunny Optical’s shares surged more than 9,500 percent since June 2008, trouncing even Netflix Inc.’s 7,500 percent gain.…

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Apple Beats Sales Estimates; Shares Rise

Revenue grows the most since 2015; sales of wearables jump IPhone sales meet projections; Apple sees more revenue gains Apple Inc. reported revenue and profit that beat analysts’ estimates and projected continued sales momentum, calming concern about demand for the iPhone, its most-important product. The Cupertino, California-based company also raised…

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This Billionaire Has Put Half His Net Worth Into Gold

Egypt’s Sawiris has put half his entire net worth into gold He’s been waiting 10 years for North Korea stakes to pay off meeting with North Korean Leader Kim Jong Un: Don’t bully him, and promise prosperity in exchange for concessions on nuclear. A successful meeting between Kim and South…

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Chinas $1 Billion White Elephant

Sri Lanka’s Hambantota port spurs worries in India, Japan Operator China Merchants is ‘hell bent’ on turning it aound helped ease "the Chinese part of the debt burden." Still the decision remains unpopular with many Sri Lankans. Ironically that’s boosted the political fortunes of Rajapaksa, who lost a 2015 election…

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Electric Buses Are Hurting the Oil Industry

About 279,000 barrels a day of fuel won’t be needed this year China adds a London-sized electric bus fleet every five weeks Source: Bloomberg New Energy Finance For every 1,000 battery-powered buses on the road, about 500 barrels a day of diesel fuel will be displaced from the market, according…

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