China biggest cryptocurrency mining machines Bitmain suspends sales

In a statement China’s biggest maker of cryptocurrency mining machines Bitmain said, it had suspended sales of its products in the spot market to help ease selling pressure. The development comes after Beijing imposed a ban on mining bitcoins. Bitmain said, it is looking for “quality” power supplies abroad and is looking for foreign clients…

Carro is Singapore’s latest unicorn following latest funding round

On Tuesday, Southeast Asian online automotive marketplace Carro said, it has raised $360 million in its latest funding round that was led by SoftBank Vision Fund 2, becoming the region’s latest unicorn. “The valuation for the company is well over a billion dollars,” said Carro, Aaron Tan, the CEO and founder of Singapore-headquartered Carro. Carro…

Britain to draft regulations overseeing environmental impact of food chain on tropical forests

In a significant development, food manufacturers, supermarkets, and restaurant chains are coming under pressure from campaigners over the environmental impact the food chain is having on tropical forests midst calls to strengthen a plan to stop logging of trees in tropical forests to grow cocoa, palm oil and soy. With the food industry coming under…

Alleged hacker puts up Tokopedia’s user details for sale on darknet

Indonesia’s largest e-commerce platform, Tokopedia said, it is investigating an attempted cyber attack and claims that details of millions of its users had been leaked online. “We found that there had been an attempt to steal data from Tokopedia users,” said Tokopedia’s spokesman. “However, Tokopedia ensures that crucial information such as passwords remains successfully protected…

Indonesia’s government proposes levying taxes on CO2 emitting vehicles

On Wednesday, Indonesia’s Finance Minister Sri Mulyani Indrawati submitted a proposal to the country’s parliament proposing to levy tariffs on sugar and artificially sugar-sweetened drinks; she has also proposed levying taxes on vehicles that emit carbon dioxide. She has also asked parliament to reconsider her proposal to impose an excise on plastic bags in order…

U.S. aircraft surveillance firm Aireon shares position data of crashed Ukraine International Airlines with authorities

On Thursday, Aireon, a U.S. aircraft surveillance firm stated, it has collected the position data from the Ukraine International Airlines jet that crashed in Iran on Wednesday. Aireon is sharing this data with the appropriate authorities, said is spokeswoman. Aireon’s satellite-based global tracking system captures more detailed data than is available on commercial websites like…

Fixed fees on e-wallet transactions could spell trouble for digital payment processors in Indonesia

According to five sources familiar with Indonesia’s move, Jakarta plans on imposing fixed fees on select e-wallet transactions. The move could potential choke key revenue streams and raise costs for payment startups. Providers of e-wallet services in Indonesia, Southeast Asia’s largest economy, currently customize fees for vendors: while they charge a premium from big retailers…

Indonesia’s ride hailing service Gojek to commence operations in Malaysia from Jan. 2020

Gojek’s proof-of-concept service will be used to measure the demand for ride-hailing sector in Malaysia for a period of 6 months. On Tuesday, in a statement, Anthony Loke Siew Fook Malaysia’s minister of Transportation stated, Kuala Lumpur will allow ride-hailing firms such as Indonesia’s Gojek to start operations in the country from January 2020. Gojek’s…

South Korea’s Shinhan Financial Group Co Ltd invests in Indonesia’s e-commerce startup Bukalapak’s latest funding round

Although Shinhan Financial Group Co Ltd’s investment was not disclosed, the funding round saw Bukalapak valued at more than $2.5 billion. On Friday, Indonesian e-commerce startup Bukalapak stated, South Korea’s Shinhan Financial Group Co Ltd has participated in its latest funding round which valued the company at over $2.5 billion. Bukalapak did not disclose the…