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Social media app TikTok distanced itself from Beijing after India banned 59 Chinese apps in the country, according to a correspondence seen by Reuters.
SINGAPORE July 4 (Bloomberg): Temasek Holdings Pte’s biggest equity shareholdings and those of its subsidiaries have plunged almost US$24 billion since January as the spreading coronavirus sends markets into spasms.
Zoom, one of the few success stories of the Covid-19 pandemic, now faces a new competitor in an app backed by Asia’s wealthiest person, Mukesh Ambani.
Google and Temasek Holdings Pte are in negotiations to join a funding round of between US$500mil (RM2.14bil) and US$1bil (RM4.28bil) for Indonesian e-commerce giant PT Tokopedia, according to people familiar with the matter.
For Chinese cloud services companies, the coronavirus outbreak has become a rainmaker, bringing in new business far and wide as firms shift work online and authorities develop apps and systems to help contain outbreaks and manage social restrictions.
Chinese e-commerce giant Alibaba Group Holding Ltd has fired Zhao Yan, the head of its fast-growing livestreaming division, on grounds of nepotism and accepting gifts, according to an internal memo announcing his termination.
Colin Huang stepped down as chief executive officer of Pinduoduo Inc after building the five-year-old startup into a force in China’s e-commerce industry and, in the process, becoming one of the country’s richest people.
A ByteDance subsidiary has become the third-largest shareholder of Beijing Dingtian Culture Entertainment, which runs multiple online reading platforms. The e-book sector is dominated by China Literature, backed by ByteDance rival Tencent Holdings.
HONG KONG: China’s tycoons are flooding Hong Kong’s exchange with a $20 billion worth of new listings.