Baar, Switzerland-based mining giant Glencore-Xtstrata is preparing to divest its stake in the Tampakan copper-gold mine in South Cotabato, Philippines, according to a disclosure to the Australian Stock Exchange.
Asia/Pacific
Bangalore startup Lumos builds solar powered backpacks that charge mobile devices
Bangalore, India-based startup Lumos Design Technology made unbreakable waterproof bags with a built-in battery than can charge mobile gadgets with the use of solar power.
Samsung invests in American nanotech firm XG Sciences to co-develop next-gen batteries
Seoul, South Korea-based startup investor Samsung Ventures invested an undisclosed amount in Michigan, US-based nanotech firm XG Sciences to co-develop more advanced batteries for consumer electronics.
Evergreen funds are good for Asian private equity - venture capitalist
A venture capitalist is urging Asian investors to consider placing bets in evergreen funds, and said that these type of funds are a good fit for them.
Philippine chemical manufacturer Chemphil gets approval for sale of entire stake in LMG
Philippine-based industrial chemical manufacturer received approval from its board for the sale of its entire 69.92% stake in LMG Chemicals Corp to businessman Norman Ng.
Latest News
The government of Australian Prime Minister Tony Abbott will not be giving fruit processor SPC Ardmona Ltd a $25 million grant because its parent company Coca-Cola Amatil Ltd can restructure the firm on its own, Bloomberg reported.
After consumers gave its Wii U console the brush off, Nintendo Co is considering other businesses such as its healthcare-related entertainment business while not losing its focus on hardware and software, Bloomberg reported.
India-based e-commerce giant Flipkart is in talks to merge with online fashion retailer Myntra as part of a proposal being pushed by common investors Tiger Global and Accel Partners.
Sameer Gehlaut, the Chairman and Co-Founder of Indiabulls Group, backed stealth mobile messaging and social networking startup MyActivityPal Inc with a $5 million investment for its Series A found.
Although they have remained silent for the good part of 2013, venture capitalists are now going back to China as the IPO market opens, but strategic investors are offering tough competition, The Wall Street Journal blog Venture Capital Dispatch reported.
Ventureast Tenet Fund, together with angel investors, invested $3 million for the expansion of Bangalore, India-based medical device maker OneBreath into India, Eastern Europe, and Africa.
Japan-based games developer Cygames, the creator of top-grossing mobile game Rage of Bahamut, invested around $680,000 (JPY70 million) in Miracle Positive, the developer of Japanese indie game Airship Q.
Custom 3D-printed insole maker SOLS closed its seed funding round with $1.75 million. Led by Lux Capital, other investors also participated in the financing round for the firm that aims to provide wearers with the perfect fit and better performance, TechCrunch reported.
According to a private equity official, the private equity industry in Sri Lanka is interested in backing small and mid-sized firms that have a winning business model and a plan for growth, the Lanka Business Online reported.
