Technology and startup blog e27 backtracked on its earlier report that the formation of Alliance for Venture Capitals (AVCII) in Indonesia last week was merely a casual lunch date to discuss topics and future policies for the internet startup community.
Asia/Pacific
Termsheet reveals Bank of America sells USD 1.5 billion stake in China Construction Bank Corp
A term sheet seen by Reuters revealed that Bank of America Corp would exit from China Construction Bank Corp by selling shares worth USD 1.5 billion.
Power Finance Corp offers private placement of bonds to raise INR 1.5 billion- termsheet
A termsheet of the Power Finance Corp showed that the Indian firm would conduct a private placement of tax-free bonds in order to raise INR 1.5 billion.
Wison's major shareholder cooperating with China authorities on corruption inquiry
Wison Engineering Services Co. Ltd, is cooperating with Chinese authorities investigating the corruption allegedly committed by the current state assets regulator during his tenure as PetroChina head.
SBI increases stake in Indonesian subsidiary
In a filing on the Bombay Stock Exchange, the State Bank of India said that it had raised its stake in its Indonesian subsidiary by 99%.
Latest News
Fotowatio Renewable Ventures won financing from two Australian banks to finance its Royalla solar project.
With the opening of its new Australian unit, Twitter confirmed the official appointment of ex-Google unit head Karen Stock as the country manager for Australia.
Mumbai-based Kingfisher Airlines sued International Aero Engines for engine defects. Mumbai-based Kingfisher Airlines Ltd filed a lawsuit against International Aero Engines (IAE) for defects in the planes' engines.
Malaysian media outlet PopDigital acquired lifestyle platform Tongue in Chic Malaysia-based PopDigital Sdn Bhd said in an announcement that it has acquired lifestyle platform Tongue in Chic.
Japanese E-commerce giant Rakuten acquired video streaming site Viki for a reported USD200 million. According to a Techcrunch report, e-commerce site giant Rakuten acquired global video site Viki and would sign a reported USD200 million buyout agreement tomorrow.
The Japanese government said it would use public funds to deal with the radioactive water emanating from the Fukushima nuclear plant as Tepco appeared overwhelmed by the problem.
The Central Bank of Malaysia said no to the proposal of BIMB Holdings to issue Islamic bonds to fund its purchase of Bank Islam.
Coastal Capital joined debt specialists to seek board spill in Billabong International Ltd. Coastal Capital, a hedge fund based in the US, on Monday joined other debt specialists in surrounding Billabong International Ltd, looking for a board spill.
Reuters reported that five of HTC's employees were jailed over the weekend over trade secrets breach claimed by the Taiwanese mobile phone maker.
