Breaking: Simon Hu is stepping down as the CEO of Ant Financial.
Ant Financial have been under huge scrutiny by the Chinese Government since they announced that they were going to try to IPO.
The Ant Financial IPO was going to be one of the biggest IPOs of all time.
The US Commerce Department recently announced that DJI is now on the US Trade Ban list.
DJI has since come out and stated that Americans will be able to continue to buy and use its products “normally” despite the companies presence on the list.
This ban only affects the companies from purchasing parts from American companies, so I’m assuming DJI saw this ban coming and already had a plan B supply chain in place ready to go at any time.
I’m not entirely sure how a drone company is helping to support human rights abuses in China. It seems like if this is the case then all Chinese companies will be in the same position!
Baidu shares rose 14% on Tuesday after news was announced that the Chinese search engine based company was planning on building their own electric vehicles.
Its great to see that Chinese technology companies are starting to think about the EV sector and how they can disrupt the auto industry. Alibaba has also partnered with Chinese automaker SAIC to develop premium EVs for the Chinese market.
It will be interesting to see how this unfolds as technology companies are very well placed to enter this market and make huge disruptions in the same way Tesla has.
When I read most of the leading technology sites like The Verge or TechCrunch or Business Insider there is a distinct focus on US based technology companies (with a hint of EU), which of course is understandable. However, I find myself these days wanting to find more about companies in Asia or the Developing World. This is where true innovation will come from!
Blackstone Group is looking to raise $5 billion for its second Asian fund.
Blackstone is seeing huge potential in Asia and really wants to invest heavily and faster than ever before. Around 66% of their first fund $2.3 billion has been invested.
Blackstone see’s great growth potential in China and India and really wants to get a foot in those markets before they mature.
It has been confirmed that PUBG Mobile will be removed for all Indian users on the 30th October – this accounts for 50 million Indian gamers.
India banned PUBG Mobile Nordic Map: Livik and PUBG Mobile Lite, along with over 100 apps with links to China on September 2.
Tesla Cybertruck orders in China.
Tesla is now officially taking Cybertruck orders in China. You can head to the Tesla website to reserve your Cybertruck.
The Cybertruck has such a unique design I’m sure there will be a lot of upper class Chinese who would love to be driving around in such a car. Really makes a statement.