Bloomberg OneDegree, a Hong Kong-based insurance technology company, raised $28 million in a new round of funding as the startup looks to expand in Asia. Sun Hung Kai & Co and AEF Greater Bay Area Fund took part in the series B1 round along with six existing investors, according to a statement on Monday. The latest investments take OneDegree’s total ...

Bloomberg Ride-hailing startup Ola has selected banks including Citigroup Inc and Kotak Mahindra Bank Ltd to manage its Mumbai initial public offering that could raise about $1 billion, according to people familiar with the matter. The company, backed by SoftBank Group Corp and Tiger Global Management, has also picked Morgan Stanley for the listing, said the people, who asked not ...

Bloomberg NetEase Inc is in final negotiations to poach Yakuza franchise creator Toshihiro Nagoshi from Sega, a sign of how Chinese games companies are expanding beyond their home turf during a government-led crackdown. The hire from Sega Sammy Holdings Inc would mark the biggest coup in a contest between NetEase and close rival Tencent Holdings Ltd to scoop up video ...

Bloomberg Sri Lanka’s volatile dollar bonds are set to jump the most in Asia this month after its central bank unexpectedly raised interest rates earlier in August in a move that may help boost the country’s foreign exchange reserves. But default concerns remain for the notes, with S&P Global Ratings last week cutting the outlook on its junk CCC+ ratings ...

Bloomberg Koo, India’s alternative to Twitter Inc, has surged past 10 million users to narrow the gap with the US microblogging site after its repeated clashes with the local government over the past few months. The 16-month-old app, which allows users to send tweet-like posts in English and seven Indian languages such as Hindi and Kannada, has seen about 85% ...

Bloomberg The US continued to evacuate people out of Afghanistan despite a rocket attack aimed at Kabul’s international airport on Monday. As the deadline looms for the last US troops to leave and hand over control of the airport to the Taliban, the United Nations plans to take up a resolution proposed by UK and France aimed at allowing exits ...

Bloomberg A senior Chinese diplomat called on the US Secretary of State Antony Blinken to work with the Taliban government and stop pressuring Beijing over the virus origin probe in order to improve ties between the world’s biggest economies. Chinese Foreign Minister Wang Yi urged the US to work with the international community to provide economic assistance to the new ...

Bloomberg North Korea may have resumed operations at its plutonium-producing Yongbyon nuclear reactor in the past few months, the United Nations atomic watchdog said, a move that could help Kim Jong Un’s regime add to its stockpile of fissile material. For the first time in about three years, it appears there were operations of the five megawatt reactor at North ...

Bloomberg Singapore Prime Minister Lee Hsien Loong pledged to tighten restrictions on foreign workers, tackling an issue that stirred anger in the traditionally open city-state as it recovers from a pandemic-induced recession. In a key policy speech, Lee said his government will further raise visa criteria for expatriates, raise salaries for low-income labourers and hold companies to account for their ...

Bloomberg Royal Bank of Canada (RBC) is benefiting from the lender’s dominance in its home country and a capital-markets division that’s cashing in on a surge in dealmaking. As Canada’s largest mortgage lender, Royal Bank is getting a boost from strong home sales and surging real estate values that have lifted that portion of its loan book. The bank has ...