Kudo co-founder Lucius joins payments startup OVO amid Grab investment rumour

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A recent report suggested that Singapore-headquartered Grab has acquired a stake in OVO, which is owned by Indonesian conglomerate Lippo Group.

JD.com CEO to not face assault charges in Minnesota

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Hennepin County Attorney Michael Freeman said there were “profound evidentiary problems which would have made it highly unlikely that any criminal charge could be proven beyond a reasonable doubt.”


Asia’s richest lost a combined $137b of wealth in 2018

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The world’s fastest growing source of mega-wealth hit a speed bump this year. The 128 people in Asia with enough money to crack the 500-member Bloomberg Billionaires Index lost a combined $137 billion in 2018, the first time wealth in the region has dropped since the ranking started in 2012…. Read more »


Malaysia charges another former Goldman Sachs banker over 1MDB

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Malaysian prosecutors charged the second former Goldman banker, Roger Ng, a Malaysian, with four counts of abetting the bank to provide misleading statements in the offering prospectus for the bonds that the bank helped sell for 1MDB.


Binny Bansal seeks $100m cash payout from Walmart after Flipkart exit

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Earlier, Bansal would have received cash from Walmart for over half of his 4-4.5% Flipkart stake worth over $850 million after August 2020.


Deutsche Bank sees investment banker exodus in Asia amid cuts

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Almost 50 bankers in Hong Kong and Singapore have left in the past six months, or about 30% of the investment-banking workforce before the departures.


After Sachin, Binny Bansal said to eye comeback as entrepreneur after Flipkart exit

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Binny Bansal is reportedly working on his next venture that will offer technology tools and learning and consulting services to growth-stage startups that are looking to scale up.


India: MobiKwik names Sushant Kashyap business head for payment gateway

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Kashyap will lead MobiKwik’s payment gateway vertical and also head the company’s international expansion plans.


People Digest: DCM appoints China partner; StashAway inducts ex-Khazanah ED as advisor

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Early-stage global venture capital firm DCM has promoted Ray Zhao in China and Kyle Lui in the US as partners.


Alibaba-backed Lazada names new CEO for second time in 2018

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Pierre Poignant, the company’s executive president, will succeed Lucy Peng as CEO with immediate effect, Lazada said.