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Thrasio cuts stake, loses control in Indian house of brands in likely market retreat

Thrasio cuts stake, loses control in Indian house of brands in likely market retreat

Founders of Lifelong Online have bought back a majority ownership and control in the Indian house of brands from Thrasio in what appears to be a retreat for the “Amazon aggregator” from the key overseas market. Existing investors of Lifelong, Tanglin Venture Partners and Hero Enterprise, also increased their ownership in Lifelong Online. Thrasio will…

American Patriots nailed Putin’s hypersonic Kinzhal missile. The world has changed

American Patriots nailed Putin’s hypersonic Kinzhal missile. The world has changed

There’s much excitement around the world following the events of Monday night, in which Ukrainian air defences armed with US-made weapons reportedly neutralised a heavy Russian missile attack against Kyiv.In particular the attack apparently included six KH-47M2 Kinzhal (“Dagger”) air-launched missiles, which are often described as “hypersonic”, frequently with the added assertion that there is…

Tiger Global-backed Axis launches digital payments platform for Egyptian SMEs months after its $8.25M seed 

Tiger Global-backed Axis launches digital payments platform for Egyptian SMEs months after its $8.25M seed 

Egyptian fintech Axis has launched its digital payments platform to the North African market after securing a license from the apex bank, Central Bank of Egypt (CBE), for its open-loop mobile wallet, axisPay, which offers a digital banking alternative for small businesses and their employees.  This is coming almost 18 months after the startup received…

Jia, a blockchain-based lender of small businesses in emerging markets, raises $4.3 million seed

Jia, a blockchain-based lender of small businesses in emerging markets, raises $4.3 million seed

Jia, a blockchain-based fintech providing loans to micro and small businesses in emerging markets, has raised $4.3 million seed funding, and an additional $1 million commitment for on-chain liquidity, in a round led by early-stage backer TCG Crypto, with participation from a number of funds including BlockTower, Hashed Emergent, Saison Capital, and Global Coin Research.…

Biden, McCarthy hopeful on debt ceiling deal, US president cuts Asia trip short

Biden, McCarthy hopeful on debt ceiling deal, US president cuts Asia trip short

© Reuters. FILE PHOTO: U.S. President Joe Biden hosts debt limit talks with House Speaker Kevin McCarthy (R-CA) and other Congressional leaders in the Oval Office at the White House in Washington, U.S., May 9, 2023. REUTERS/Kevin Lamarque/File Photo By Nandita Bose and David Morgan WASHINGTON (Reuters) -Democratic President Joe Biden and top congressional Republican…