Tencent acquires stake in online games developer Shanda Games

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Tencent has been stepping up efforts to expand its pipeline of content for the global games market.

Tencent Shanda Games

China’s Didi Chuxing partners 12 automakers to build EV-sharing network

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Didi, the dominant ride-hailing company in China, launched its car-sharing platform on Wednesday.


Baidu Ventures leads $10m funding round in US-based AI startup Lightelligence

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Lightelligence raised a $10-million seed financing round led by Baidu Ventures to build nano-photonics based next generational artificial intelligence hardware.


Japan: Mirai Creation Fund invests in financial robo-adviser WealthNavi

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Mirai Creation Fund targets investment in enterprises that possess innovative technologies in Al, robotics


Taiwan’s Foxconn to invest $342m in AI, industrial internet

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iPhone supplier Foxconn’s core manufacturing business has come under pressure due to a slowdown in demand for smartphones globally.


SoftBank, Sequoia back former Baidu exec Andrew Ng’s $175m AI fund

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Ng has formerly led artificial intelligence projects at Alphabet Inc’s Google and Chinese firm Baidu Inc.


Philippine Digest: SEC to draft ICO rules; RCBC eyes $291m rights offer

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The Philippine Securities and Exchange Commission said it is drafting the guidelines for initial coin offerings in the country instead of totally banning the fund-raising activity.


Alibaba to help Kuala Lumpur reduce traffic woes in first foreign project

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Alibaba Cloud plans to make live traffic predictions and recommendations by crunching data gathered from video footage, traffic bureaus, public transportation systems and mapping apps.


Philippines: Cirtek acquires 49% in payment solutions firm Multipay

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Cirtek paid $1.96 million to acquire 441,000 shares or equivalent to 49% of the total issued and outstanding capital stock of Multipay.


Alibaba backs Israeli startup Nexar’s $30m funding round

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Nexar has developed an app that analyzes the situation on the roads in order to warn drivers of hazards in real time.