Updated version at 8.20 am
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May 20, 2021,
- Cryptocurrencies came back down to earth with a bump on Wednesday after a roller-coaster ride which could undermine their potential as mainstream investments. At its worst moment Bitcoin dropped about 30% to within a whisker of US$30,000, while other cryptocurrencies held double-digit percentage losses, pressured by statement from the People’s Bank of China reiterating that digital tokens can’t be used as a form of payment.
- Swedish vegan milk maker Oatly Group AB, backed by celebrities like Oprah Winfrey, raised US$1.4 billion in its US initial public offering said sources.
- Japanese manufacturers’ business confidence rises to highest since late 2018 as firms benefited from stronger overseas demand, a sign that the export-driven economic recovery remained intact, a Reuters survey showed.
- Squarespace founder Anthony Casalena is a billionaire twice over after his company is valued at $2.1 billion after the New York-based firm went public Wednesday in a direct listing.
- Singapore Airlines posts US$3.2 billion loss after the “toughest year in its history” as the Covid-19 pandemic continues to wreak havoc on global travel.
- Calls of consumer boycott of Coca-Cola products in Malaysia by several individuals due to rumours circulating on social media and misunderstandings regarding the company’s commitment in the Middle East.
- Malaysia Automotive, Robotics and IoT Institute said the Malaysia is ready to offer a handsome tax incentive to accelerate the electric vehicle (EV) development with a soon-to-be announced accelerated EV policy under the National Automotive Policy (NAP) 2020.
- A spate of skyscrapers rising next to vacant towers mark new city of London. It all augurs another period of change for the City, a geographical area of just over one square mile with a 2,000-year track record of reinvention.
- Spain’s La Liga partners Microsoft to boost revenue for its pandemic-hit football clubs and reenergise a fanbase that is consuming ever more digital products.
- Malaysian ecommerce aggregator iPrice Group raised US$1.5 million from South Korean food-delivery app operator Woowa Brothers as it works towards a Series C round.
- GOOD Meat, a division of US-based sustainable food company Eat Just, has secured US$170 million in new funding. Investors include UBS O’Connor, a hedge fund manager within UBS Asset Management, Graphene Ventures and K3 Ventures.
- Forkast Ltd., a blockchain-focused multimedia platform, has successfully raised US$1.7 million in its seed round from Asia-based AMTD Group, Fenbushi Capital, Alibaba Hong Kong Entrepreneurs Fund.