Manila based institution, Asian Development Bank released an update of Asian Development Outlook on Wednesday which clearly stated that Asia will grow 6% this year and 5.8% next year. According to the report, China is expected to grow 6.6% and 6.3% in 2018,2019 where India is expected to grow 7.3% and 7.6% in the same period.
The reasons for growth are
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Bangladesh – The 3rd highest remittance receiving country in South Asia
Bangladesh becomes the 3rd highest remittance receiving country in South Asia, 9th in the world. It has seen a 17.9% growth in remittance earning in 2018 where the rate saw declination of 11.5% in 2016.
The leader in remittance earning is India ($79.5 million), followed by China ($67 million) and Mexico & Philippines ($34 million). World Bank reports that the developing
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Bangladesh – The most Optimistic Market
Bangladesh remains the most optimistic market according to the HSBC Navigator Survey on 34 countries. The countries included were the US, the UK, Canada, Brazil, Mexico, France, Germany, Italy, Spain, Russia, Switzerland, Turkey, Australia, China, Malaysia, Singapore and Vietnam. The survey, conducted by Kantar TNS, takes into account the responses of over 8650 businesses from small to mid to large
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Mizuho commits $20M for tech fund in China
Mizuho Securities, a subsidiary of Japan’s second-largest lender Mizuho Financial Group, will establish a technology investment fund in China in partnership with two local venture capital firms, according to a report by the Nikkei. Mizuho Securities is said to have made an initial $20-million commitment to the fund, which will be managed by Cybernaut Investment Group and New Frontier Capital Management (Hong
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Chinese text analysis startup Elen raises $22M series A from Matrix Partners China
Matrix Partners China, an affiliate of US-based Matrix Partners, has led a $22-million Series A round into Elens, China’s developer of AI-powered text analysis, according to an announcement by Matrix Partners China. Established in 2016, Elens deploys voice image recognition and natural language processing to improve efficiency of enterprises.
Elens is led by experts in the field of big data management, data
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China’s Golden Education raises Series C from Morgan Stanley, Hillhouse Capital
Hillhouse Capital and Morgan Stanley have reportedly led a RMB800-million ($115 million) Series C funding round in Chinese professional training firm Golden Education.
Yonghua Capital and Vision Knight Capital were also said to have participated in the investment.
The news first appeared on Chinese newswire 36Kr. Requests for confirmation sent to Hillhouse Capital and Morgan Stanley have not elicited any response by
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Alibaba’s on demand unit rockets to $30B valuation
Alibaba Group’s newly formed on-demand online services unit has rocketed in value to as much as $30 billion after raising $4 billion in fresh funds.
Alibaba combined the operation of food delivery service Ele.me and online restaurant guide business Koubei under a single management team and holding vehicle in October. It announced a fundraising plan for the vehicle in August.
In a
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Chinese bike-sharing platform Hellobike to land investment from SoftBank
SoftBank Group Corp is looking to invest in Chinese bike-sharing start-up Hellobike, people with knowledge of the matter said, as the Japanese conglomerate bets on a market that has struggled with oversupply and tightening regulations. SoftBank will be joined by Chinese private equity firm Primavera Capital among others in a funding round, the sources told Reuters, with one of them
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PressLogic raises $10M from popular Chinese selfie app Meitu
PressLogic, a Hong Kong-based social media content and data analytics startup, announced today that it has raised a $10 million Series A+ round from Meitu, developer of the popular Chinese selfie app. PressLogic will use the funds to launch its new lifestyle brand GirlStyle and enter e-commerce with its proprietary algorithms, which predict what topics will trend on social media
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Huawei invests $23M to support incubating hub in Thailand and India
Huawei had announced the opening of its OpenLab in India with the focus on supporting Indian government rolls out its Smart Cities program and an overall digitization in the country using Huawei’s ICT capabilities. As reported by TechObserver.in, Huawei’s new center will function as an incubating hub for Huawei’s India and global market. A total of US$23 million is going
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Chinese Ride-Hailing startup BMKP raises $43M
Chinese ride-hailing firm Wuhan Banma Kuaipao Technology (BMKP.com) has completed a RMB300 million (US$43.21 million) financing round from Chinese private equity fund manager QJY Capital, according to a Chinese media.
QJY Capital’s investment comes after BMKP.com received considerable amount of online ride-hailing licenses, which is a necessary operation material for ride-hailing drivers under the requirement of a new policy introduced in
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China’s Top O2O Titan Meituan Adds Ride-Hailing Feature
On Tuesday, China’s top O2O titan Meituan added a car-hailing function into its app, which now features a wide variety of services from food delivery, film tickets, hotel reservation and flight/train tickets. After finding the ride-hailing service in Meituan’s home page, users in Nanjing can book their trips in an interface and operation process very similar to Didi’s.
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China Now Has 731 Million Internet Users, With 53.1% Of The Population Online
In a record high, China now has 731 million internet users, with 53.1 percent of the population online, according to authorities. The latest figure is nearly double the 2009 tally. While there’s still extensive usage of PCs and laptops, especially at workplaces and schools, 95.1 percent of total internet users access from mobile devices – mainly phones.
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Mastercard Index of Consumer Confidence Published; Bangladesh Recorded The Largest Gain
The Mastercard Index™ of Consumer Confidence survey, which is conducted twice every year since 1993 just published the report of H2, 2016. It’s all good news for Bangladesh. Bangladesh recorded the largest gain in Asia Pacific of 11.2 points to 82.8 points – a significant improvement in overall consumer confidence compared to H1 2016 where it saw a relatively smaller increase of
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Zhihu Became China’s First Knowledge Sharing Unicorn With 100M USD Series D
China’s Quora-like Q&A service Zhihu announced today the completion of a US$100 million Series D. The funding would boost the startup to unicorn status with a valuation of over US$1 billion. Investors of the round include Capital Today, Tencent, Sogou, SAIF Partners, Qiming Venture Partners, and Sinovation Ventures.
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Alibaba To Take Control Of China Mall Operator In $2.6B Plan
Chinese e-commerce titan Alibaba will take control of domestic department store Intime through a $2.6 billion privatisation scheme, the companies said Tuesday, sending shares of the mall operator surging. Alibaba, and Intime founder Shen Guojun have together offered to pay HK$10 per share to buy the shares they do not already own of the Hong Kong-listed chain.
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