Tech in Asia weekly briefing︱May 26th

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East Asia

🇨🇳 Mainland China

  • New US bill offers the possibility to delist Chinese shares where the company’s auditor has not faced an inspection for three consecutive years
  • Experts say China does not have an adequate domestic semiconductor producer after the US moves to cut Huawei off from global chip manufacturers
  • Executive behind Disney+ to become TikTok’s new CEO
  • China’s food delivery giant Meituan becomes the third Chinese company to hit a $100 billion valuation despite Q1 losses

🇯🇵 Japan

  • Authorities report a rise in “coronavirus lynchings” – sharing the personal details of people who have been infected with COVID-19 and flouted isolation rules
  • Survey shows 60% would like to continue telecommuting after the pandemic; 34% say working from home has improved their work efficiency
  • Kobe City partners with TikTok to reach out to young people during the pandemic
  • ANA Holdings is working with AERONEXT to develop logistics drones with technology to control the machine’s centre of gravity and prevent cargo from moving
  • Kubota Pharmaceutical Holdings is developing glasses designed to cure myopia

Southeast Asia

🇮🇩 Indonesia

  • Capsule hotel startup Bobobox raises $11.5 million in series A funding
  • Data analytics startup Delman raises $1.6 million in a seed funding

South Asia

🇮🇳 India

  • Private equity firm KKR invests $1.5 billion in Jio Platforms, which has now received over $10 billion of investments in a month
  • E-commerce initiative JioMart led by internet giant Jio Platforms launches in 200 cities and towns
  • Payments startup Khatabook raises $60 million in series B funding
  • Ride-hailing firm Ola lays off 1,400 staff after a 95% drop in revenues
  • Uber cuts 600 jobs in India (25% of its workforce) 

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