Asia

Joshua Bateman Contributor Joshua Bateman is based in Greater China and covers finance, entrepreneurship, technology, consumption trends, agriculture, gaming, sports and art. More posts by this contributor: Saturday night on a Shenzhen street corner, a young guitarist dressed in Johnny Cash black strums away, singing melodies. His open guitar case has a laminated QR reader,
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South Korea has banned ICOs, the up-and-coming method of raising funding via crypto tokens, due to concerns over the potential for financial scams. China’s Central Bank became the first to outlaw ICOs, which are also known as token sales, in a move made earlier this month and now Korea is following suit. Companies from across
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Autonomous vehicle technology startup Drive.ai has raised $15 million in a new round from Grab and others, Southeast Asia’s largest Uber rival. The added funding will help Drive.ai expand internationally, and it plans to open a Singapore office in the coming months in order to provide a base of operations for considering a deployment of
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Cambodia is set to become the newest battlefield for Uber and Grab’s ride on-demand battle after both companies expanded into the Southeast Asian country’s capital city Phnom Penh this week. Word that Grab, which recently raised $2 billion from SoftBank and Didi, is preparing to launch in the city slipped out this week. A spokesperson
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Ant Financial, the Alibaba affiliate that operates payment service Alipay and other digital finance products, has continued its Asia expansion with a move into Hong Kong. Alipay and Alibaba’s MyBank digital bank dominate in China, where they are used by over 450 million consumers, and this year Ant has broadened its presence with deals in Southeast Asia,
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Alibaba is getting serious about logistics after it agreed to invest RMB 5.3 billion ($807 million) in order to take majority ownership in subsidiary company Cainiao. Cainiao was created four years ago alongside eight other backers to bring organization in Chinese logistics, particularly around e-commerce deliveries. The company raised its first outside funding in March 2016 — reportedly
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