Alegra Group estimates China’s Luckin Coffee added 5,059 stores in the last 12 months, while another Chinese chain, Cotti Coffee, opened 6,004 outlets in the period. “The scale of the opportunity is such that both (local and international chains) will have to be very aggressive in facing off against theContinue Reading
BANGKOK: Major Japanese auto manufacturers will invest 150 billion baht (US$4.34 billion) in Thailand over the next five years, a Thai government spokesperson said on Monday (Dec 25), supporting the Southeast Asian country’s transition to making electric vehicles. Toyota Motor and Honda Motor will invest about 50 billion baht each, whileContinue Reading
SMALL BEGINNINGS VNG was born in 2004 as Vinagame, a start-up with just five people, who prepared the launch of their – and Vietnam’s – first online game by travelling the country on motorcycles. They plastered posters for the game across 5,000 internet cafes, the founders say. They have nowContinue Reading
SHANGHAI: China’s draft online video gaming rules were designed to promote the healthy development of the industry, regulators said on Saturday (Dec 23), adding that the government would further improve the proposed rules after “earnestly studying” public views. The statement from the press and publications watchdog came a day afterContinue Reading
HONG KONG: Chinese regulators announced on Friday (Dec 22) a wide range of rules aimed at curbing spending and rewards that encourage video games, dealing a blow to the world’s biggest games market, which returned to growth this year. The new rules, which will effectively set spending limits for onlineContinue Reading
HONG KONG: Chinese regulators announced on Friday (Dec 22) a wide range of rules aimed at curbing spending and rewards that encourage video games, dealing a blow to the world’s biggest games market, which returned to growth this year. The new rules will effectively set spending limits for online games.Continue Reading
BEIJING: China will step up policy adjustments to support an economic recovery in 2024, state media said on Tuesday (Dec 12), following an agenda-setting meeting of the country’s top leaders. Investors are closely watching for clues on next year’s policy and reform agenda as Beijing has been struggling to spurContinue Reading
SHANGHAI: China’s proposal to drastically raise the bar for investing in private equity (PE) and venture capital (VC) funds is facing backlash from industry players concerned it could wipe out small funds and choke financing to startups struggling in a weak economy. The country’s securities regulators published draft rules lateContinue Reading
JAKARTA: China’s TikTok has agreed to spend US$840 million to buy most of Indonesian tech conglomerate GoTo’s e-commerce unit – a move that appears to allow it to restart its online shopping business in Southeast Asia’s largest economy. It also said it will invest further in the business, Tokopedia, whichContinue Reading
BEIJING: China’s consumer prices fell the fastest in three years in November while factory-gate deflation deepened, indicating rising deflationary pressures as weak domestic demand casts doubt over the economic recovery. The consumer price index (CPI) dropped 0.5 per cent both from a year earlier and compared with October, data fromContinue Reading