Grab and Singtel’s digital bank get approval from Bank Negara Malaysia to begin operations

GX Bank Berhad (GXBank) announced that it is the first of the five digital bank licence applicants to obtain approval to commence operations in Malaysia. GXBank is a subsidiary of GXS Bank – the digital bank joint venture between Grab and Singapore Telecommunications (Singtel), as well as a consortium of Malaysian investors including Kuok Group.

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500 Global closes US$143M across early-stage & growth vehicles for Southeast Asia; ropes in Khazanah, KWAP & EPF as LP

September 7, 2023

Venture capital firm 500 Global announced the successful close of $143 million across its largest Southeast Asian early-stage fund to date, 500 Southeast Asia III, L.P. (500 SEA III), and its growth investment vehicle for Southeast Asia. The new early-stage and growth vehicles demonstrate the team’s commitment to supporting founders in Southeast Asia from pre-seed to pre-IPO.

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Meta Removes Facebook News in UK, Germany, and France

September 6, 2023

Meta may be just-short-of-criminally irresponsible, but at least they’re consistent.  Having decided that news coverage isn’t important to their business, even though Meta is an important news source for many people, they’ve decided to remove their Facebook News section in the UK, Germany and France.  They haven’t yet blocked links from news sites, as they did in Canada, but that seems certain to follow.

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