World
Bankman-Fried acknowledged that FTX customers had suffered, and he offered an apology to his former FTX colleagues.
ID Digest: HSBC reviewing 8 SE Asian firms for potential investment; Amar Bank partners eFishery
Xiaomi takes on Tesla in Chinese auto market with $29,870 electric car
Indian food delivery platform Swiggy records $200m in 9M 2023
Bankman-Fried sentenced to 20 years for $8b dollar FTX fraud
Taiwan's Shin Kong Life disposes of stake in Warburg Pincus, four other PE funds
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HSBC launches $1b ASEAN growth debt fund and $150m SG venture debt fund
Vietnam-based PE firm Mekong Capital testing new waters for future growth
China’s GDS to sell $587m stake in overseas data centres to Hillhouse, Boyu, others
Chinese startups, investors lock horns as IPO plans go awry in tepid market
PH-focused discount grocery chain DALI raises $25m from Venturi Partners
A jury found him guilty in November on seven fraud and conspiracy counts.
Prosecutors also charged the exchange’s founders, Chinese nationals Chun Gan and Ke Tang, with conspiracy.
Greater China
The app aims to generate as much as $20b GMV in the world’s biggest consumer market.
The resolution, proposed by the US, is nonbinding.
The measures are expected to drive China’s consumer finance companies to seek deeper-pocketed investors or merge.
India
The move partly eases the disclosure rules that were put in place last year.
Indonesia
Four major construction firms are some of the intended recipients.
The stricter measures come amid a regulatory tightening across China’s financial sector.
TikTok achieved record sales in the US in 2023, according to FT.