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By Stephanie Yang TAIPEI Chinese financial regulators on Thursday ordered some of the nation s largest technology companies to change financial business practices seen as risky and violating antitrust rules, the latest sign of heightened scrutiny of the sector. China s central bank, together with the country s banking, insurance, securities and foreign-exchange regulators, summoned 13 technology firms and ordered them to delink their payment systems from some financial products. They also demanded the companies bring their online lending and deposit-taking businesses in line with regulatory requirements. The firms included Tencent Holdings Ltd., ByteDance Ltd. and the financial arms of Meituan, Didi Chuxing Technology Co., JD.com Inc. and Trip.com Group Ltd., according to a statement from the People s Bank of China.
Asia Pacific Gift Card and Incentive Card Market Report 2021: Spend Analysis by Digital/e-Gift Card, Retail and Corporate Consumers, Top Retailers, Distribution Channel, Occasions and Demographics
April 29, 2021 04:03 ET | Source: Research and Markets Research and Markets Dublin, IRELAND
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The gift card market in Asia Pacific has witnessed significant growth in the past few years. The gift card industry has performed well, taking away market share from traditional gifting sector. The overall gift industry has been impacted by the COVID-19 pandemic.
The gift card market is expected to grow backed by increase in digitization as well as surge in online shopping. The E-commerce market in the region has recorded significant growth in the recent years due to better Internet connectivity and penetration across the region. The surge in internet penetration has led to digitization. This trend has accele
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By Eliot Brown Nearly a decade ago, venture-capital firm Sutter Hill Ventures made a small wager on an idea for a cloud computing services company, helping found and fund Snowflake Inc. The bet paid off: Last month, Sutter Hill distributed a profit of nearly $12 billion on the less than $190 million it ultimately invested, as it transferred its shares in the company to its investors and partners, marking one of the most profitable investments ever in venture capital. The venture sector has long been defined by big wins on disruptive tech companies, balanced by far more numerous losing bets. But in recent months, an unusually large number of venture investments have logged multibillion-dollar profits, setting many firms up for their greatest returns since the dot-com boom of the late 1990s.
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China is preparing to slap a fine on Tencent as part of its antitrust crackdown on the country’s internet giants
The campaign against China’s tech giants has already ensnared Alibaba and Meituan, and analysts have widely regarded Tencent as possibly being next in line
The government has become increasingly concerned over the growing influence of titans like Alibaba, Tencent and Meituan over every aspect of Chinese life as well as the vast amounts of data they’ve amassed through providing services like online shopping, chatting and ride-hailing.
China is preparing to slap a fine on Tencent as part of its antitrust crackdown on the country’s internet giants, Reuters said, citing people with knowledge of the matter.
Gates Foundation & WHO help launch Go Give One drive for global vaccine distribution
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Last Updated: Apr 29, 2021, 11:01 AM IST
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AP
Go Give One aims to mobilize small-dollar donors around the world to give roughly $10 each toward the cost of COVID-19 vaccines - which are priced at about $5 a shot.
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A new mass fundraising campaign aims to inspire 50 million people around the world to make small donations to Covax, the international effort to push for equitable global distribution of COVID-19 vaccinations. Called Go Give One, the campaign was launched Wednesday by the Bill & Melinda Gates Foundation, the WHO Foundation and corporate, religious, and world leaders.