CDP Institute

The government will sell 5% of its stake in India’s largest insurance company, Life Insurance Corporation (LIC), through an initial public offering (IPO), of which 100% is offer for sale. LIC filed its draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (Sebi) on Sunday, thus setting the wheels in motion for the country’s largest-ever IPO.

Apple iPhone supplier Foxconn has recently joined hands with Indian oil-to-metals company Vedanta to manufacture semiconductors in India. A memorandum of understanding has been signed among the two companies that will create a joint venture for manufacturing chips in the country. The collaboration of these companies supports the Indian Prime Minister’s vision to manufacture semiconductors in the country to counter the global chip shortage.

Oracle said Bharti Airtel, one of India’s leading telecommunication brands, has chosen Oracle Fusion Cloud Enterprise Resource Planning (ERP) and Oracle Fusion Cloud Supply Chain & Management (SCM) to digitise and simplify its finance, planning and supply chain processes. These deployments would transform Airtel’s shared services operations towards improving productivity and agility across the company.

A 17% lift in active loyalty members, increase in unaided brand awareness, higher Net Promoter Score and significant omnichannel take-up are among the highlights touted by Baby Bunting in its half-year report. The retailer reported a 10% increase in comparable sales growth in the first half of FY2022 to $239.1 million, 23.8% of which was sales conducted online. Total online sales including click-and-collect were up 32.6% to $56.8 million.

CommBank is leading the counteroffensive against platforms that are eating the world, with Woolies, Coles and the major card providers hot on its heels, powering first party data markets and moving away from legacy digital economics. But what does that mean for everybody else?

Samba TV, a leading global provider of omniscreen advertising and analytics, today announced a partnership together with PubMatic (Nasdaq: PUBM), an independent technology company delivering digital advertising’s supply chain of the future, to bring programmatic omniscreen TV audience targeting to Australia. The announcement marks an expansion of Samba TV’s existing European partnership with PubMatic.

Funding Societies, Southeast Asia’s largest small and medium-sized enterprise (SME) digital financing platform, announced Wednesday that it has raised $144 million in an oversubscribed Series C+ equity round led by SoftBank Vision Fund 2.

Thailand’s digital lifestyle and loyalty platform, The 1, has launched its new app that allows its members to check, redeem, and claim rewards swiftly.

Southeast Asian classified business Carousell Group is reportedly in talks to acquire Singapore-based property marketplace operator 99 Group. According to The Business Times (BT), the acquisition is likely to give a boost to Carousell’s monetisation strategy as it doubles down on high-value transactions and shapes up for the public market. However, negotiations are still ongoing and might not result in a deal, a source told BT.

Bitso, a major Latin American cryptocurrency exchange and El Salvador’s crypto wallet assistant firm, has announced its formal launch in Colombia. Under the regulatory framework, Bitso started working in partnership with Colombia’s first commercial bank, Banco de Bogotá, in 2021 to trial the exchange’s products and services.

Mundi, a financial services platform for cross-border trade, announced today it has raised $16 million in a Series A funding round led by Union Square Ventures. The investment marks Union Square Ventures’s first B2B investment in Latin America.

Nigerian fintech company Flutterwave has raised US$250 million in Series D funding to drive its expansion plan, tripling its valuation to over US$3 billion in the process. Launched in 2016, Flutterwave builds modern payments technology and infrastructure for Africa to enable people and businesses to connect with the global economy. Its solution enables banks and merchants to replace multiple payment integrations with one simple API, which enables processing of any form of payment anywhere in Africa.