Kohlapur, India-based commercial bank Ratnakar Bank Ltd pocketed $54.6 million (INR3.28 billion) from foreign investors CDC Group and Asia Capital and Advisors through the sale of an undisclosed minority stake to fund its rural expansion.
Asia/Pacific
SingTel Group and Samsung collaborates to provide customers with seamless mobile data
Today, Samsung and SingTel Group has announced an initiative that would simplify retail experience and seamless mobile data access, reported ET.
Chinese posture-correcting wearable device Giraffe Friend launches crowdfunding campaign on DemoHour
Giraffe Friend, a wearable device that reminds the user to correct bad posture to prevent backaches, launched a crowdfunding campaign on DemoHour and has already raised $14,000 (CNY87,527).
Chinese messaging app WeChat releases image recognition to third-party users
Guangzhou, China-based mobile messaging app WeChat released its image recognition SDK (Software Development Kit) this week to allow third-party users to add the technology to their accounts.
HP settles with DOJ for $108M over bribery and money laundering charges
Menlo Park, US-based printer giant Hewlett-Packard (HP) settled with the US Department of Justice (DOJ) and the Security and Exchange Commission for $108 million over the bribery and money laundering charges filed against it.
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Takamatsu-shi, Japan-based cranes and aerial work platforms manufacturer Tadano Ltd completed its acquisition of its Yorkshire, UK-based distributor Cranes UK for an undisclosed amount to continue its market expansion.
State Bank of India has announced raising USD750 million to USD1 billion worth of overseas investments through bond sales, reported ET.
Chennai, India-based education startup Edsix Brain Lab wants to make it easy for children to improve their cognitive skills using their carefully researched and designed online and offline games under the brand Skill Angels.
Philippine consortium LT Group Inc (LTG) increased its stake in Negros Occidental-based integrated sugar mill and refinery Victorias Milling Company Inc (VMC) from 7.4% to 14.8% for an undisclosed amount.
Kuala Lumpur, Malaysia-based taxi app GrabTaxi closed its Series A round with more than $1 million from Singaporean state-owned investment firm Vertex Ventures to conquer Southeast Asia.
US-based video-sharing giant YouTube representative Gonenc Gurkaynak filed a legal complaint to the Turkish Consitutional Court against the ban that prime minister Recep Tayyip Erdogan issued against the service.
Bangkok, Thailand-based digital publication platform Ookbee landed $7 million in a Series B funding led by Japanese outsourcing firm Transcosmos to fuel its Southeast Asian expansion.
Singaporean President Tony Tan Keng Yam said his country is conducting trade missions to its neighboring country, the Philippines, where seven companies are interested in investing in the infrastructure, transport, consumer services, and logistics sectors.
New Delhi, India-based microfinance institution Satin Creditcare Network Limited (SCNL) bagged $4.7 million (INR28.44 crore) in a funding round led by Norway-based impact investor NMI Fund III KS (NMI) to fuel its growth and diversification.
