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Saudi Arabia to invest in Vision Fund; Grab nearing deal to receive US$500M

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Saudi Arabia to invest in Vision Fund; Grab nearing deal to receive US$500M

TOP NEWS

* Saudi Arabia's sovereign fund, the Public Investment Fund, or PIF, is looking to make a US$45 billion investment in SoftBank Group Corp.'s Vision Fund, The Nikkei reports. According to Bloomberg News, PIF wants to be a key investor in SoftBank's second US$100 billion investment fund.

* In other SoftBank news, the Japanese conglomerate is nearing a deal to invest US$500 million in Singaporean ride-hailing company GrabTaxi Holdings Pte. Ltd. The talks are reportedly in the advanced stages, with the two companies finalizing the terms of the investment.

* California-based Qualcomm Inc. will invest US$400 million in setting up its campus in Hyderabad, India, The Times of India reports. The campus will be Qualcomm's largest outside its San Diego headquarters.

JAPAN

* Tokyo-based cyber security company Cocon Inc. raised about ¥2.8 billion through a private placement with YJ Capital Inc., a unit of Yahoo Japan Corp. and Sumitomo Electric Industries Ltd. Cocon will use the funds raised for research, development, mergers and acquisitions.

* PayPay Corp., a joint venture of SoftBank Corp. and Yahoo Japan, launched a smartphone payment business which uses QR codes and barcodes, The Nikkei reports. The new service uses the technology of India's One97 Communications Ltd.'s digital payment unit Paytm.

* Film production and distribution company Toho Co. Ltd. and video game developer Capcom Co. Ltd. will produce a film adaptation of popular gaming series 'Monster Hunter.' The release date of the film was not provided.

SOUTH KOREA

* Samsung Electronics Co. Ltd. expects consolidated operating profit to reach a record high in the third quarter. The smartphone maker said operating profit is projected to be in the range of 17.4 trillion South Korean won to 17.6 trillion won in the quarter, up from 14.87 trillion won in the second quarter and from 14.53 trillion won in the third quarter of 2017.

* Kakao Corp.'s video content production unit, Krispy Studio started airing its reality TV show titled "Ina Beauty," featuring comedian Jinho Lee and Luda from the girl group Cosmic Girls. The new mobile TV show is available through the studio's official channels.

* Next Entertainment World Co. Ltd.'s international business division revealed virtual reality content based on the local film "Train to Busan," at the Busan International Film Festival's Asian Film Market, Munhwa News reports.

CHINA, HONG KONG AND TAIWAN

* Lenovo Group Ltd. issued a statement clarifying that it is not buying motherboards from Super Micro Computer Inc. U.S.-based Super Micro is suspected of supplying Chinese spy chips to tech companies such as Lenovo, Apple Inc. and Amazon.com Inc.

* Tencent Holdings Ltd.'s WeChat users in Hong Kong can use the app to pay for mainland services, including ride-sharing services from Didi Chuxing Technology Co. Ltd. and Meituan Dianping, Sina reports.

* JD.com Inc. started operations of its smart city research center in the Chinese city of Nanjing, Xinhua reports. The center works with the local government to provide artificial intelligence and big data- based solutions for city management and urban planning.

INDIA AND SOUTH ASIA

* Bengaluru-based telecom value added services company OnMobile Global Ltd. launched 'ONMO' video across India, Bangladesh and West Asia. ONMO video will showcase exclusive regional content in Kannada, Tamil, Malayalam, Telugu and Bengali, BusinessLine reports.

* Xiaomi Corp.'s Poco F1 'Rosso Red' red color variant phone will launch in India on Oct. 11 via Flipkart India Pvt. Ltd. and mi.com, DNA reports.

SOUTHEAST ASIA

* The secretary general of Thailand's National Broadcasting and Telecommunications Commission warned telco Total Access Communication Public Co. Ltd., or Dtac, that it will appeal against an administrative court ruling which gave Dtac a three-month extension of its 850 MHz concession, if the telco does not take part in an upcoming 900 MHz auction, Thairath reports.

* Malaysia's Communications and Multimedia Commission said that the implementation of the mandatory standard on access pricing resulted in a reduction of more than 30% of fixed broadband prices, The Star reports. Telcos Telekom Malaysia, Maxis Bhd., Celcom Axiata Bhd. and TIME dotCom Berhad are reported to have reduced their packages by 43%, 36%, 56% and 34% respectively.

* Singtel TV, the pay-TV service of Singaporean telco company Singtel, launched a new Chinese language entertainment and lifestyle channel called "e-Le," which is available on Singtel TV and Singtel TV GO and CAST.

* Indonesian e-commerce platform KinerjaPay Corp. agreed to acquire digital payment company PT. Mitra Distribusi Utama, Deal Street Asia reports. The financial terms of the deal, which is expected to be completed by end of 2018, were not disclosed.

* Apple Inc. will open its first Thailand-based Apple Store at Iconsiam mall, Bangkok, on Nov. 9, Prachachat reports.

AUSTRALIA AND NEW ZEALAND

* Telco Boost Mobile LLC has urged the Australian Competition and Consumer Commission to force Telstra Corp. Ltd., Singtel Optus Pty. Ltd. and Vodafone Hutchison Australia Pty Ltd. to allow e-SIM phones onto their networks, The Australian Financial Review reports, citing founder of Boost Mobile Peter Adderton. Such a move would allow smaller operators to offer lower prices to consumers.

* Telstra is open to slashing mobile prices to ensure gap with rivals Singtel Optus and Vodafone does not threaten its market share, The Australian Financial Review reports.

FEATURED NEWS

Data Dispatch: 'Venom' readies big box office bite: After a summer of superheroes, Columbia Pictures is betting moviegoers want something a bit darker for the fall season. And if "Venom" performs as expected, it could set a new box office record for October.

FEATURED RESEARCH

Economics of TV & Film: Kagan box office report, week 39: Week 39 box office dropped 12.5% year over year to $134.6 million in 2018, marking the third week in a row of weekly declines.

Nozomi Ibayashi, Nicole Kim, Frances Wang, Ed Eduardo and Patrick Tibke contributed to this report. The Daily Dose has an editorial deadline of 7 a.m. Hong Kong time. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.