Business and technology quick bites: 22.06.2021

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

June 22, 2021 (last updated at 8.15 am)

Business News

1. Asian stocks set to track a Wall Street stocks rallied as the prospect of very gradual policy tightening tempers some of the concerns about the Federal Reserve’s hawkish tilt.
2. Ex-Wall Street quants net 78% return in crypto options boom, an options market that’s booming and shaking up digital-currency trading along the way.
3. Ray Dalio sees US heading for a period of overheating and inflation that could threaten the economic recovery, even after Fed shift.
4. Global banks HSBC and Standard Chartered ramps up hiring to tap into China’s new investment link with Hong Kong that could yield almost $500 million a year in fees.
5. Malaysia is focusing on increasing renewable energy (RE) plans, with a target of 31% RE in its installed capacity in 2025, and 40% in 2035.
6.  Nestcon initial public offering (IPO) has been oversubscribed by 57.13 times ahead of its listing on the ACE market of Bursa Malaysia.
7. China’s first REITs make solid debut in Shanghai and Shenzhen.
8. Irish ingredients giant Kerry Group to buy preservatives maker Niacet for $1 billion, investing the proceeds of the sale of its consumer foods operations in its core business.

Technology News

1. Intel partners with India’s Reliance Jio to develop 5G networking technology, having invested US$250 million last year.
2. Uber acquires the remaining 47% interest in grocery delivery start-up Cornershop.
3. LegalZoom aims over US$5 billion valuation in its US initial public offering (IPO), marking the online legal services company’s second attempt at a stock market listing.
4. China’s central bank summons Alipay and banks to clamp down on cryptocurrency speculation.
5. Indonesian digital lender Kredivo secured another US$100 million to tap Asia shopping boom.
6. Axiata, Telenor sign US$15 billion deal to merge Malaysian telecoms units, forming a new market leader in the competitive Southeast Asian nation.