SK Geo Centric, a petrochemical arm of SK Innovation [096770:KS], has teamed up with Paris-based Veolia Environment S.A. [VIE:FP] to develop a circular economy business in Asia, as reported by the Korea Economic Daily on July 26. Under a memorandum of understanding (MoU), the two...
The Cyberspace Administration of China (CAC) fined ride-hailing company Didi Global RMB8bn (USD1.2bn) for violating cybersecurity and data regulations, as reported by the Paper on July 21. Cheng Wei, Didi's CEO and Founder, and Jean Liu, Didi's President, were each fined around CNY1m (USD150,000) as individuals...
South Korea’s major chemical firm Lotte Chemical [011170:KS] and Japanese trading house Itochu [8001:JP] will team up in businesses including ammonia trading, ammonia infrastructure utilization, and hydrogen-ammonia market development, as reported by the Korea Economic Daily on July 22. Lotte Chemical will combine its ammonia...
China’s central bank People’s Bank of China (PBoC) will fully respect privacy and protect personal information in the use of China’s sovereign digital currency known as digital yuan, or e-CNY, as reported by Bloomberg on July 24. According to Mu Changchun, head of the Digital...
China’s Ministry of Industry and Information Technology (MIIT) is pushing for the standardization of fast-charging technology, aiming to make Type-C interface the common charging port for mobiles and all electronic devices, as reported by Sina on July 22. According to Wang Peng, an official from...
China’s Ministry of Transport (MoT) issued a document on July 22 requiring the transportation authorities of all cities to collect license information of online ride-hailing platforms, their vehicles, and their drivers and upload these data to the united industry platform for real-time sharing, as reported...
British asset management company Schroders [SDR:LN] and the US non-profit Conservation International will jointly launch a nature-focused venture capital firm in Singapore named Akaria Natural Capital, as reported by Reuters on July 25. Akaria Nature Capital will be one of the first fund managers in...
Atlas Capital plans to raise USD10m for its fund next month to assist US climate tech startups looking to grow into Southeast Asia, as reported by Nikkei Asia on July 24. Atlas Capital is a Beijing-based private equity firm specializing in the new technology, entertainment, and...
Two Pizza Hut outlets in Beijing's Fengtai and Haidian districts have been closed due to food safety concerns, as reported by Nikkei Asia on July 22. According to an undercover report, the two outlets continuously reused cooking oil and placed fake expiration dates on food...
Environmental, social, and corporate governance (ESG) issues are undeniably becoming key components of disclosure for corporates and financial institutes around the world. In Asia, a flurry of ESG-related disclosure rules has hit the market in recent years, driving companies to issue sustainability reports and communicate...
Liaoning Fangda Group Industrial is looking for a RMB20bn (USD3bn) emergency loan to help with the running of Hainan Airlines [600221:CH], the main airline business of the HNA group, as reported by Caixin on July 16. The Hainan Provincial Government is assisting Liaoning Fangda in...
China’s Central Bank, the People’s Bank of China (PBoC), has imposed a RMB4.27m (USD632,170) fine on the digital payment arm of ride-hailing platform Didi Chuxing for a series of violations, as reported by Reuters on July 15. The company was involved in 12 illegal activities...
Contemporary Amperex Technology Limited (CATL) [300750:CH] is contemplating at least two locations in Mexico as the site of its new manufacturing factory for electric vehicle (EV) batteries, as reported by Caixin on July 18. CATL intends to construct a battery facility with an annual capacity...
South Korea’s major liquefied petroleum gas (LPG) distributor E1 Corp [017940:KS] entered the hydrogen industry by establishing eco-friendly automobile fuel stations in the country, as reported by the Korea Economic Daily on July 19. The company has built up hydrogen fueling stations at three of...
LG Uplus [032640:KS], the mobile phone arm of South Korea’s LG Group [003550:KS], has pledged to recycle 100% of the industrial waste from its factories by 2025, as reported by the Korea Economic Daily on July 18. The pledge is included in the mobile manufacturer’s...
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