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“American Factory” Owner Fuyao Glass To Raise $550 Mln, Eyes

admin May 3, 2021

China-based Fuyao Glass Industry Group, whose U.S. plant was the subject of the Oscar-winning documentary “American Factory” in 2020, plans to raise to HK$4.3 billion, or $550 million, in a stock sale amid improvement in its business this year, according to a Hong Kong Stock Exchange filing on Sunday. The glass supplier, whose auto industry customers include Toyota, Volkswagen, General Motors, Ford and Hyundai, plans to sell 101.1 million shares at HK$42.64, representing a fully diluted 3.9% stake. Fuyao’s shares trade in Hong Kong and Shanghai. Fuyao expects that China’s automobile industry “will recover and rebound in 2021” compared with pandemic-hit 2020, the readmore

Asia Business Consumer Hollywood & Entertainment hollywood&entertainment

Why You Might Be A Fan Of The K-Drama ‘So

admin May 2, 2021

So I Married An Anti Fan tells the story of an unhappy k-pop idol, played by actor Choi Tae-joon. His character’s fate becomes entangled with that of a journalist, played by Choi Soo-young, who in real life is a member of the internationally famous k-pop group Girls Generation. If that was not enough of a k-pop k-drama twist, his romantic competition in the series could be the entertainment mogul played by real life k-pop star Hwang Chan-sung of 2PM. Choi’s character Who Joon is a k-pop star who has it all—a record-breaking career and adoring international fans. readmore

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Photos Show The Distressing Severity Of India’s Covid-19 Crisis

admin May 1, 2021

ToplineIndia, the current epicenter of the coronavirus pandemic, has reported more than 2 million new cases and 18,000 Covid-related deaths this week alone, as a catastrophic second wave continues throughout the country, pushing hospitals and crematoriums past their breaking point. Key Facts India's Health Ministry on Saturday reported 401,993 new infections, the highest number of new cases reported yet in a single country in a 24-hour span. Hospitals throughout the country continue to plead for medical supplies, especially oxygen. Despite being the world's leading producer of vaccines, only 2% of India's population has been vaccinated. A crematorium worker takes a momentary readmore

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China Holds Promise For Global Businesses Despite Uneven Covid Recovery:

admin May 1, 2021

It seemed like a ready China business-book hit: Juan Antonio Fernandez and Laurie Underwood, two business professors in China, last year updated their successful book from 2006 “China CEO” with a new look at how foreign companies have been faring in the country’s fast-growing economy. “China CEO II” highlights hiring, digitalization and consumer power through interviews with 25 leading multinationals including leaders from McKinsey, Microsoft, Bayer and Coca-Cola. Then Covid upended business globally. GDP contracted, work-from-home has become a global normal, Zoom meetings have been adopted by millions, and transportation has become disrupted. Hundreds of thousands have died, variants are still readmore

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Singapore’s Olam To Buy U.S. Spice Maker For $950 Million

admin April 30, 2021

Singapore-listed Olam International said its food ingredients subsidiary is buying Olde Thompson, a U.S.-based maker of private label spices and seasonings, at an enterprise value of $950 million. The agricultural commodities trader said in February that it has appointed financial and legal advisers to prepare for the initial public offering of Olam Food Ingredients (OFI), which supplies cocoa, coffee, nuts, spices and dairy. OFI said the acquisition of Olde Thomson will transform its spice business and be earnings accretive from the first year onwards. “Growing our offerings of private label solutions is right at the heart of OFI’s readmore

Asia Business Editors' Pick Investing Markets Money

Blame Olympic Record Price Tag For Return To Deflation Battle

admin April 29, 2021

Eight years ago this month, the Bank of Japan embarked on one of economic history’s most audacious journeys to end deflation. How far has Governor Haruhiko Kuroda’s team gotten? Not very. In fact, by some measures, the BOJ is now shifting into reverse. That’s the sad implication of Kuroda admitting on Tuesday that rather than 2% inflation, his team will be lucky to hit 1% by 2023. Where things went so wrong has myriad lessons for policymakers from Seoul to Washington. When Kuroda announced the 2% goal in April 2013, the plan was for a two-year timeline. The BOJ began with a readmore

Asia Business Editors' Pick Investing Markets Money Retail

Indonesia’s E-Commerce Unicorn Bukalapak Completes $400 Million Funding Round With

admin April 28, 2021

Indonesian e-commerce unicorn Bukalapak is said to have attracted more investors in its latest funding round that raised more than $400 million, according to a report from DealStreetAsia. Bukalapak’s recent corporate filing indicates the London branch of Swiss investment bank UBS Group AG and Malaysian conglomerate Genting Berhad subsidiary Resorts World are among the latest backers, the report said. UBS AG London is apparently serving as a nominee for an unidentified client. The bank, which received the largest amount of shares during the funding round, is now holding a 2.5% stake in Bukalapak. Mitra Bukalapak in 2017, which aims to provide services readmore

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Korean Billionaire Kim Jung-Ju’s Gaming Giant Invests $100 Million In

admin April 28, 2021

Nexon Co., the South Korean online gaming company founded by billionaire Kim Jung-ju, said it has bought $100 million worth of bitcoin amid a rebound in the cryptocurrency. Tokyo-listed Nexon joins a growing list of global companies, including Elon Musk’s electric carmaker Tesla, that have invested in the digital currency. Nexon’s bitcoin investment represents less than 2% of the company’s cash hoard as of December 2020. “In the current economic environment, we believe bitcoin offers long-term stability and liquidity while maintaining the value of our cash for future investments,” said Owen Mahoney, president and CEO of Nexon. invest $1.5 billion in readmore

Asia Business Consumer Hollywood & Entertainment hollywood&entertainment

Lee Kwang-Soo To Depart Popular Korean Variety Show ‘Running Man’

admin April 27, 2021

Actor Lee Kwang-soo, affectionately known by the nickname “Prince of Asia,” is reportedly leaving the popular Korean variety show Running Man. Lee has been a cast member since the show began in 2010. His agency, KingKong by Starship, has announced that his last show will be in May. According to his agency, the reason for his departure is the physical injuries he sustained after a car accident in April 2020. The variety show involves physical challenges that have become more difficult for him despite ongoing physical therapy. The action variety show involves the emcees and guests completing missions and playing games. The readmore

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Why Gaming Gear Company Razer Launched A $50 Million Fund

admin April 27, 2021

Singapore-based gaming gear company Razer has established a $50 million fund focused on environmentally-friendly startups as its peers across the tech space chase millennials and extra dollars by stressing eco-friendliness. The fund, called Razer Green Fund, emerges a month into Razer’s 10-year plan to “preserve nature and protect the environment” through renewable energy and carbon-neutral projects, the company said in a statement. Over time, Razer, founded and led by Singaporean billionaire Min-Liang Tan, plans to make gamers worldwide “contribute to green causes,” the statement adds. “Asian technology companies are morphing into global stakeholders,” says Abishur Prakash, a Toronto-based author on readmore

Category : Asia

“American Factory” Owner Fuyao Glass To Raise $550 Mln, Eyes

Why You Might Be A Fan Of The K-Drama ‘So

Photos Show The Distressing Severity Of India’s Covid-19 Crisis

China Holds Promise For Global Businesses Despite Uneven Covid Recovery:

Singapore’s Olam To Buy U.S. Spice Maker For $950 Million

Blame Olympic Record Price Tag For Return To Deflation Battle

Indonesia’s E-Commerce Unicorn Bukalapak Completes $400 Million Funding Round With

Korean Billionaire Kim Jung-Ju’s Gaming Giant Invests $100 Million In

Lee Kwang-Soo To Depart Popular Korean Variety Show ‘Running Man’

Why Gaming Gear Company Razer Launched A $50 Million Fund

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