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In an unexpected turn of events, the global initial public offering (IPO) market has shown remarkable resilience amid a period marked by economic slowdown, geopolitical tensions, and financial market volatility. According to the latest EY Global IPO Trends report for Q3 2024, IPO activity surged 11 percent compared to the previous quarter, driven by improved […]

OpenAI to Open Singapore Office to Support APAC Expansion OpenAI, the company behind the popular AI chatbot ChatGPT, is taking significant steps to strengthen its presence in the Asia-Pacific region by opening an office in Singapore later this year. This move, announced on October 9, 2024, at Tech Week Singapore, marks another milestone in OpenAI’s […]

In a significant move towards promoting economic development in Sierra Leone, British International Investment (BII), the UK’s development finance institution, has signed a $25 million risk-sharing facility with Ecobank Sierra Leone. This agreement aims to provide much-needed financial support to the private sector in Sierra Leone, particularly targeting small and medium-sized enterprises (SMEs), and boost […]

In a significant move to bolster the United Kingdom’s economic prospects, Prime Minister Keir Starmer is set to convene the inaugural Council of Nations and Regions next Friday, 11 October, in Scotland. This Council will bring together leaders from across the UK to discuss strategies for boosting investment and economic growth, just three days ahead […]

The global bank messaging network SWIFT will initiate live trials of tokenised assets and digital currency transactions next year, marking a significant advancement in the slow-moving integration of digital currencies into the traditional financial system. This announcement from SWIFT, which plays a critical role in the global financial infrastructure, represents a milestone as financial institutions […]

OpenAI, the pioneering artificial intelligence research lab behind the popular ChatGPT, has successfully secured $6.6 billion in funding, boosting its valuation to a staggering $157 billion. This round of investment attracted major participants, including returning venture capital firms like Thrive Capital and Khosla Ventures, along with tech giants such as Microsoft and Nvidia. Additionally, investment […]

In a significant development for Middle East and Africa’s (MEA) entrepreneurial ecosystem, Singapore-based multi-business operator and long-term investor Agility Global has announced an investment in Global Ventures’ third fund. While the exact investment amount remains undisclosed, the backing signals a substantial vote of confidence in the region’s burgeoning startup scene, particularly in sectors like supply […]

San Francisco: Global investment firm Fidelity has drastically reduced the valuation of its stake in X, formerly known as Twitter, by 78.7%, suggesting the social media platform’s overall valuation has plummeted to just $9.4 billion. This stark contrast to its original $44 billion purchase price in October 2022 highlights the challenges Elon Musk’s platform faces […]

Thailand’s underperforming $77 billion Social Security Fund (SSF) has announced a strategic overhaul to inject $11.6 billion into global private assets, according to a senior executive, in a move designed to address the fund’s stagnant returns and the looming demographic challenge posed by the country’s aging population. The SSF, Thailand’s largest state fund, which provides […]

In a significant development for Southeast Asia’s tech and digital landscape, Vietnam is currently reviewing a proposal from SpaceX for a massive $15 billion investment in its satellite internet service, Starlink. According to a report from Bloomberg, this investment aims to bring cutting-edge satellite connectivity to Vietnam, enhancing both urban and rural internet access while […]