Joseph Lau, the Hong Kong billionaire tycoon Chairman and CEO of Chinese Estates Holdings, was sentenced to five years in jail for bribery and money laundering, Reuters reported.
Regions
Alibaba Group said to hold US IPO in third quarter this year
China-based e-commerce firm Alibaba Group plans to hold a US listing in the third quarter of this year, according to a sources interviewed by Reuters.
US mobile data revenue to surpass $100B mark in 2014
A report from Chetan Sharma Consulting said the US will exceed the $100 billion mark in mobile data revenue this year to be followed by China and Japan, VentureBeat reported.
Tiny Hong Kong shop sells for $23M
A 12-square-meter shop located at the center of Causeway Bay in Hong Kong sold for over $23 million (A$25.56 million), surpassing the previous record of the most expensive retail store sold.
Nokia Refocus app now available for all Lumia smartphones
Helsinki, Finland-based smartphone giant Nokia now made the Nokia Refocus app available to all Lumia smartphones to allow users to take refocusable photos using their phones.
Latest News
Japan-based Transcosmos Inc led the $10 million funding round for Singapore-based online beauty products platform Luxola Pte Ltd, a statement about the investment said.
Washington, US-based private equity firm Emerging Capital Partners (ECP) is acquiring a 33% interest in Algeria-based PepsiCo Inc bottler Atlas Bottling Corp for an undisclosed amount as part of an expansion plan.
The Board of Directors of Salesforce.com now has its 11th member in the person of General Colin Powell, a highly-accomplished four-star general in the US Army, TechCrunch reported.
Social media tracking and analysis firm Synthesio bagged a $20 million Series B round from European private equity firm Idinvest Partners, a statement about the funding said.
Secret, the widely-popular anonymous social sharing app, has obtained $8.6 million in its Series A funding round from a sizable number of investors, TechCrunch reported.
Dhaka-based online grocery site ChalDal secured an undisclosed seed investment round from 500 Startups. This is the first investment in Bangladesh of the California-based accelerator, TechCrunch reported.
Belfast, Ireland-based analytics and big data firm Analytics Engines secured $1.6 million (£1 million) in a funding round led by Crescent Capital to develop its software accelerating platform and widen its market reach.
Duet Group, an alternative asset manager based in the HK, has backed two food companies in Ghana with a $50 million growth capital, a statement about the funding said.
In a first app merger in the wine sector, San Francisco, US-based wine app Hello Vino purchased wine-focused photo-sharing app Corkbin for an undisclosed amount.
