In brief: Facebook bans Myanmar officials; Buffett’s Berkshire confirms Paytm stake

Myanmar soldiers look towards a Buddhist temple / Photo credit: Pixabay

Facebook bans military-linked accounts after UN genocide findings (Myanmar/US). In a first for the social network, it has removed accounts belonging to senior army officers, government-linked organizations, and other related groups to prevent the spread of “hate and misinformation” and “seemingly independent news and opinion pages [that] covertly push the messages of the Myanmar military.” Facebook announced the action hours after UN investigators accused Myanmar’s army of mass killings and rapes targeting the minority Rohingya community with “genocidal intent.” (Reuters)

Paytm banks US$356 million from Berkshire Hathaway (India). The US holding firm owned by veteran investor Warren Buffett confirmed the deal after earlier rumors indicated it was seeking a stakeworth up to US$350 million in the payments and ecommerce firm. Berkshire said that Buffett was not personally involved in the deal, which is thought to be its first direct investment in a third-party Indian company. (The Times of India)

Other news

Toyota pumps US$500 million into Uber in self-drive push (Japan/US). The Japanese automaker’s investment is aimed at accelerating the use of autonomous vehicle tech in ride-hailing, and values Uber at about US$72 billion. In June, Toyota invested US$1 billion in Singapore-based Grab, which acquired Uber’s Southeast Asia business earlier this year. (CNBC)

Softbank and ZhongAn form US$100 million joint venture (China/Japan). The Japanese company’s Vision Fund will own a 51 percent stake in the venture, which will sell ZhongAn’s insurance-related tech to financial and healthcare service providers throughout Asia Pacific. Rival insurer Ping An has also announced a regional expansion plan, with its Ping An Good Doctor unit partnering with ride-hailer Grab in Southeast Asia. (Reuters)

Shansong Express raises US$60 million, becomes unicorn (China). The Beijing-based express delivery service – also known as FlashEx – secured the funding in a “series D1” round led by N5 Capital, V Star Capital, and Shihaisong Capital. Other investors in the round – which takes the startup to a valuation of over US$1 billion – included BHG Long Hills Capital, Hearst Ventures, Lighthouse Venture Capital, Shunwei Capital, and SIG China. (China Money Network)

Ice Tech closes Intel-led series B raise (China). The startup develops chips and algorithms that drive computer vision tech. Intel Capital led the round – which was for an undisclosed amount – with participation from Green Pine Capital Partners and Frees Fund. (Ice Tech)

Sovereign funds could team up on startup investments (Singapore/South Korea). The city-state’s Temasek Holdings and Korea Venture Investment Corporation are said to be discussing the creation of a US$214 million fund to invest in startups from each country seeking entry to the other. The vehicle could launch within the next six months. (The Korea Herald)

See: Previous Asia tech news