Business and technology quick bites

Updated version at 8.46 am

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

April 2, 2021,

Business News

1. Asian stocks looked set for gains Friday after U.S. stocks climbed to a record on optimism about increased stimulus in the world’s largest economy. Futures in Japan pointed higher after the S&P 500 Index closed above 4,000 for the first time as investors weighed President Joe Biden’s newly unveiled US$2.25 trillion spending plan ahead. Technology shares led gains, though value stocks also joined in on the rally.
2. The issuance of Malaysian Government bonds is expected to increase to RM160 billion this year from RM149 billion last year, according to foreign fund management company Amundi Malaysia.
3. Bright Health Group Inc., the Minneapolis-based company plans to raise at least $1 billion in an initial public offering in the U.S. this year, according to people with knowledge of the matter. The digital health records platform could be valued at well above $10 billion, said the people.
4. Opec+ agreed to gradually ease its oil output cuts  by 350,000 barrels per day (bpd) in May, another 350,000 bpd in June and further 400,000 bpd or so in July after the new US administration called on Saudi Arabia to keep energy affordable for consumers.
5. Credit Suisse shares rose on Thursday (Apr 1), ending a losing streak in which they shed close to a fifth of their value, though the lender is yet disclose how much it lost in trades for stricken US fund Archegos.
6. Equinox Group is fielding interest from blank-check that would take the company public after it lost around $350 million last year amid the pandemic, according to people with knowledge of the matter.

Technology News

1. Islamabad-headquartered fintech SadaPay has raised US$7.2 million in a seed round led by New York-based Recharge Capital,” reported MENAbytes.
2. YJ Capital (YJC), a subsidiary of Z Holdings Corporation, has announced a merger with LINE Ventures to form Z Venture Capital Corporation (ZVC) in a JPY$30-billion (US$271 million) “ZVC 1 Investment Partnership” fund that will focus on opportunities in Japan, Southeast Asia, South Korea, the US, and China.
3. Endowus, a Singapore-based investment platform, has raised S$23 million (US$17 million) in a Series A funding round, led by Lightspeed Venture Partners.