Dennis Mutua

China to Order Tencent to Surrender Music Label Exclusivity

Chinese antitrust regulator the State Administration of Market Regulation (SAMR) will be ordering multinational technology company Tencent Holdings Ltd. (HK: 0700) to surrender the rights of music labels which it has been using to compete with its smaller rivals in the industry. The regulator will also be fining the company $77,150 (500,000 yuan) for lapses […]

China’s and North Korea Leaders Pledge to Strengthen Ties

The leaders of China and North Korea held a summit over the weekend in which they exchanged vows to strengthen cooperation on the anniversary of their treaty of friendship, cooperation and mutual assistance between the two countries. North Korea’s leader Kim Jong Un said ties between the two nations will always remain vital even in […]

Tencent’s Merger With leading Videogame Streaming Sites Blocked by Antritrust Regulator

Chinese market regulator, State Administration of Market Regulation (SAMR), says thet it will be blocking a merger deal between Tencent Holding Ltd (HK: 0700) and China’s leading two videogame streaming websites namely Huya (HUYA) and Douyu. The antitrust regulator says that it will be blocking this merger deal on antitrust grounds after reviewing additional concessions […]

Fintech Startup Clearco Fetches $215 Million in Latest Financing Round

Toronto based fintech startup which provides capital to online companies Clearco announced having raised $215 million from its latest financing round led by high ranking investors including Japanese conglomerate Softbank Group Corp. (TYO: 9984). Clearco was established in 2015 by Canadian investors and entrepreneurs Michele Romanow and Andrew D’Souza. Romanow has her reality TV show […]

Japanese Premier Declares COVID-19 State of Emergency in Tokyo

The Prime Minister of Japan, Yoshihide Suga, has declared a COVID-19 state of emergency in Tokyo, the world’s most populated city with an estimated population of 37 million people living around its metropolis. The Prime Minister gave out measures made to combat spread of the deadly virus which will remain in place until August 22. […]

Wise Direct Listing to Leave the Company With a $11 Billion Market Valuation

London based financial technology company Wise is set to have an $11 billion (8 billion pounds) market capitalization after its direct listing on the London Stock Exchange. The shares will make their market debut on July 7 in which the company indicated they will open at 800 pence. The auction process has already kicked off […]

Bukalapak Adjusts IPO Target to Over $1 Billion

Indonesia based e-commerce company Bukalapak has increased its initial public offering target to over $1 billion following a strong demand. This adjustment represents a 25% increase compared to the initial target given by the company. This IPO is set to go down as the largest listing in thirteen years by a Southeast Asian country. The […]

Twitter Loses Immunity Against User Generated Content in India

Widely used social network Twitter Inc. (TWTR) has lost immunity over user generated content in India after the Indian government said the company has failed to comply with the new information technology laws in the country. According to the court filing, Twitter no longer enjoy liability protection against user generated content in the country. This […]

Kayesa CEO Says Latest Ransomware Attack Affected Up To 1,500 Businesses

The chief executive officer of Keyasa, Fred Voccola says that around 800 to 1,500 business entities have been affected by the latest ransomware attack which was carried out at the end of last week. Keyasa is a Flodida based IT software management company which was greatly affected by the ransomware attack after its client access […]

Suspected Hackers Demand $70 Million to Restore Companies’ Data Affected by Cyberattack

A group of hackers suspected to be behind a cyber-attack which affected data of companies across the world is now demanding for a ransom of $70 million to restore the data. The hackers group posted the announcement on a dark web site. This ransom demand was posted on a blog normally used by a Russia […]