Business and technology quick bites: 31.05.2021

Updated version at 8.00 am

The highlighted words in red are links to the news article.

May 31, 2021,

Business News

1. China cracking down on edtech outfits, forcing once high-flying startups to mothball plans for multi-billion-dollar initial public offerings this year.
2. Asian stocks eyes steady start as investors continue to weigh inflation risks and await key U.S. jobs data to gauge the strength of the economic recovery.
3. Australia’s central bank is approaching a decision on whether the economy is strong enough for it to join Canada and New Zealand in signaling a move away from emergency mode.
4. The rapid appreciation of China’s yuan against the US dollar may have overshot and will not be sustainable, gained 1.7% so far in May to trade at three-year highs, according to a former central bank official during an interview with state media Xinhua News on Sunday.
5. Food giant Monde Nissin US$1 billion record-breaking entry into the Philippine stock market is driving a shakeup that’s impacting everything from the nation’s consumer sector to holdings of some of the biggest money managers.
6. Abu Dhabi wealth fund Mubadala invested US$500 million in IVC Evidensia, one of Europe’s largest veterinary care providers.
7. Sanjeev Gupta Liberty Steel, one of the world’s largest steel empires, faces an uncertain future after announcing plans to sell three of its UK plants.
8. Dubai’s property market as “lockdown dodgers” and wealthy international investors drive a buying frenzy that is breaking records and fuelling an economic recovery.

Technology News

1. Delhivery, India’s largest independent e-commerce logistics startup, has raised $277 million ahead of IPO, led by Boston-headquartered investment firm Fidelity.
2. Apple’s success with CarPlay explains the automotive industry’s interest in rumors that Apple plans to build its own car.
3. Robocash, a Singapore-headquartered B2C alternative lending company, to raise US$5 million via bond placement from Kilde, a global private debt investment platform.