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June 10, 2021,
Business News
- Asian stocks look set for a steady start after Treasuries rallied and US equities edged lower ahead of an American inflation report that may provide clues on the direction of monetary policy.
- Saudi Aramco, the world’s biggest energy company, sold $6 billion of bonds in its first dollar-denominated Islamic bond sale.
- Another batch of names has been added to the meme-stock frenzy as retail traders latched on to their latest favorites Wednesday, with Prison operator GEO Group Inc. soared 38% and Clean Energy Fuels Corp. jumped 32%.
- GameStop sales rose 25% in the fiscal first quarter as the company focuses on e-commerce and tries to stage a turnaround, and it may sell as many as 5 million shares.
- Chinese food delivery giant Meituan aims to hire 60,000 new employees in 2021 as the company expands into new areas of businesses such as group community buying.
- Malaysian palm oil giant Kuala Lumpur Kepong (KLK) has proposed to acquire a 56.2% stake in IJM Plantations Bhd held by IJM Corp Bhd for RM1.53 billion ringgit (S$491.4 million) in cash.
- Southeast Asia Grab‘s US$40 billion SPAC merger expects to close the deal in fourth quarter.
Technology News
- Facebook confirmed it is working on a smartwatch that might on day connect with augmented reality glasses being developed by the leading social network.
- Tiger Global-backed Chinese grocery app Dingdong Maicai, aims to raise around US$500 million in its US initial public offering (IPO) to compete in a crowded sector.
- Naluri Hidup, a Malaysia-headquartered digital health service provider, has raised US$5 million, a new funding round, led by Singaporean VC firm Integra Partners to support people with chronic health and mental conditions in SEA.
- Manulife partners with Brinc, a global venture capital and accelerator firm, to foster partnerships with startups.
- Software-as-a-service (SaaS) startup Whatfix has raised US$90 million as a part of its Series D funding round led by SoftBank Vision Fund 2, to help workers onboard and improve productivity.
