TOP NEWS
* Xiaomi Corp. won Hong Kong stock exchange approval for its US$10 billion IPO, Bloomberg News reports, citing people close to the matter. The Beijing-based smartphone maker passed a June 7 listing hearing. The smartphone marker has also filed for a listing on a mainland exchange and will make its Chinese depositary receipts accessible to local investors around July 9, the South China Morning Post reports.
* Alibaba Group Holding Ltd.'s Ant Financial Services Group raised about US$14 billion in its latest funding round. The fundraising consisted of a yuan-denominated tranche raised from domestic investors and a U.S. dollar-denominated tranche raised from international investors. Investors included two of Singapore's sovereign wealth funds, GIC Pvt. Ltd. and Temasek Holdings Pte. Ltd., as well as Malaysian sovereign wealth fund Khazanah Nasional Bhd., private equity firm Warburg Pincus LLC, Canada Pension Plan Investment Board and General Atlantic LLC.
JAPAN
* Rakuten Inc. acquired U.S. technology startup Curbside Inc., a location-centric mobile commerce platform that connects brick-and-mortar retailers and restaurants with customers, for an undisclosed sum through unit Rakuten USA Inc. The Japanese e-commerce giant plans to leverage the move to strengthen its services in the U.S. market.
* Fujitsu Ltd. rolled out a new blockchain-based data storage service that can be used by retail merchants to tokenize promotional tools such as digital points, stamps and coupons.
* NTT Docomo, the mobile unit of Nippon Telegraph & Telephone Corp., joined the corporate affiliate program of the Stanford Data Science Initiative, which was set up in 2014 to facilitate collaborative research between the private sector and faculty studying data science and big data at Stanford University's School of Engineering.
* GMO Internet Inc., a Tokyo-based internet service company, launched GMO Miner B2, a machine designed for virtual currency mining and equipped with 7-nanometer semiconductors. The device will be sold via Swiss unit GMO-Z.com Switzerland AG.
SOUTH KOREA
* SK Telecom Co. Ltd. signed a memorandum of understanding with U.S.-based network equipment manufacturer Keysight Technologies Inc. to jointly conduct 5G-related research, ET News reports.
* The South Korean telco will also partner with Chinese drone maker Da-Jiang Innovations Science and Technology Co. Ltd. to stream video footage taken by a drone in real time, Newsis reports.
* The South Korean Ministry of Science and ICT said all three major telcos — SK Telecom Co. Ltd., KT Corp. and LG Uplus Corp. — are qualified to participate in the 5G spectrum auction, which is scheduled for June 15, ZD Net Korea reports.
* CJ E&M said SKY PerfecTV will air its new entertainment reality show "Produce 48" on Mnet, scheduled to launch June 15, Digital Daily reports.
CHINA
* Foxconn Industrial Internet Co. Ltd.'s shares climbed by 44% to 19.83 yuan in the first day of trading of Hon Hai Precision Industry Co. Ltd.'s smart factory unit. The stock takeoff grants the company a market value of about 390 billion yuan, Bloomberg News reports. The 44% share upswing is the maximum limit on a debut trading in Shanghai, according to the Financial Times.
* ZTE Corp. issued an internal letter stating that the U.S. ban is directly caused by the mischiefs of several members of its staff, Sina reports. The management also acknowledged that there are problems with compliance and management, and a lot of work will have to be done for rectification and to implement the settlement agreement.
* Smartphone manufacturer OPPO Electronics Corp and BBK Electronics Corp.-owned Vivo Communication Technology Co. jointly launched a program for online games development to support independent developers, DoNews reports.
INDIA
* Vodafone Group PLC plans to invest up to €1 billion in the proposed joint venture between Idea Cellular Ltd. and Vodafone India that is expected to be completed in June, The Economic Times of India reports, citing a company annual report.
* India's telecom department intends to launch 10,000 Wi-Fi hotspots across the country in July, and scale the rollout to 100,000 in the first three months, telecom secretary Aruna Sundararajan told The Economic Times.
* Apple Inc. secured the rights to Shantaram, a novel by Gregory David Roberts set in the Mumbai underworld, Television Post reports. The series will be produced by Anonymous Content and Paramount Pictures Corp.'s Paramount TV.
* HT Media Ltd.'s board approved an investment of up to 4 billion Indian rupees in its FM radio business for expansion and growth opportunities, Television Post reports.
SOUTHEAST ASIA
* Malaysian telco operator Axiata Group Bhd. appointed Lisa Lim Poh Lin as an independent nonexecutive director, effective June 8.
* Malaysian Communications and Multimedia Minister Gobind Singh Deo instructed the national broadcasting company Radio Televisyen Malaysia to purchase the rights to broadcast more 2018 World Cup matches, The Star reports. The minister, who said RTM obtained the rights to broadcast 41 matches, also announced that the telco operator Maxis Bhd. is the main sponsor for the broadcast.
* The Indonesian arm of GrabTaxi Holdings Pte. Ltd. signed a memorandum of understanding with transportation company PT MRT Jakarta, which includes partnership schemes on first mile-last mile connectivity, MRT Jakarta's ticket sales scheme and usage of e-money for payment.
* Thailand's National Broadcasting and Telecommunications Commission confirmed that Spring News will not be terminated June 16, despite owing 104 million baht in unpaid rental fees to its multiplex provider MCOT PCL, Prachachat reports. The NBTC said it has the power to order the use of another MUX provider on a temporary basis for 30 days.
AUSTRALIA
* Perth-based telco Vonex Ltd. joined the official list of ASX Ltd., effective June 8. Official quotation of the company's ordinary fully paid shares and quoted options is expected to commence at midday Australian Eastern Standard Time on June 13.
* Australian casino and gaming operator Tabcorp Holdings Ltd. is in talks to exit its agreement to operate Sun Bets, the U.K. online wagering and gaming business it operates in partnership with News Corp.'s News U.K.
* Alphabet Inc.'s Google Inc. signed a more than A$150 million deal with Chinese-backed developer Aqualand Projects Pty. Ltd. for the acquisition of Seven West Media Ltd.-owned Seven Network Ltd.'s headquarters and car park in Sydney's Pyrmont suburb, The Australian reports.
FEATURED NEWS
Q&A: Ad group CEO: Midterm races could generate double-digit political ad growth: Television Bureau of Advertising chief Steve Lanzano says a number of factors, notably Democrats seeking to regain control of the House and 36 gubernatorial races, could drive this year's midterm ad sales.
Conference Chatter: Infosecurity Europe: Fear of large-scale cyber warfare may be largely overblown: Despite the number of malicious cyberattacks rising rapidly in recent years, fear of large-scale cyber warfare may be largely overblown, according to cybersecurity professionals at the annual Infosecurity Europe conference in London.
FEATURED RESEARCH
Economics of TV & Film: 'I Can Only Imagine' pegged as top June video release: Several notable spring films are landing on DVD and Blu-ray in June and we expect the Christian drama film "I Can Only Imagine" to barely edge out "A Wrinkle in Time" to become the top home video release of the month.
