Uber Technologies Inc has launched a new advertising division as the ride-hailing firm looks to diversify its revenue sources through tie-ups with brands and marketers. With a reach of 122 million monthly active users globally, the company said on Wednesday it will sell ad space inside its ride-hailing and UberEats apps, along with in-vehicle digital ads, sponsored mails and storefront ads. “While consumers are making purchase decisions and waiting for… Continue reading Uber launches new advertising division to boost revenues
Author: Deal Street Asia Online News
India regulator fines MakeMyTrip, Goibibo & Oyo for anti-competitive practices
India’s competition regulator said on Wednesday that it had fined online hotel-booking companies MakeMyTrip Ltd and Goibibo and IPO-bound hotel chain Oyo a combined $47 million for anti-competitive behaviour. The Competition Commission of India (CCI) has been investigating the companies since 2019 following allegations by a hotel body that MakeMyTrip gave special treatment to SoftBank-backed… Continue reading India regulator fines MakeMyTrip, Goibibo & Oyo for anti-competitive practices
Japan’s SBI said to be considering delisting Shinsei BankSBI said this month it planned to increase its stake to a majority 50% by the end of March
Japanese financial group SBI Holdings is considering delisting mid-size lender Shinsei Bank Ltd and will explore options with the country’s banking regulator, the Kyodo news agency reported on Wednesday. SBI said this month it planned to increase its stake to a majority 50.05% by the end of March. It raised its holding to around 48% last year. An SBI spokesperson said it had nothing to announce at… Continue reading Japan’s SBI said to be considering delisting Shinsei BankSBI said this month it planned to increase its stake to a majority 50% by the end of March
Dubai courier firm Aramex buys Florida e-commerce co MyUS for $265m
Dubai-listed courier firm Aramex said on Wednesday it had bought Florida-based e-commerce company Access USA Shipping LLC (MyUS) for about $265 million in an all-cash deal. Abu Dhabi sovereign wealth fund ADQ holds a 22.32% stake in Aramex, transferred to ADQ-owned Abu Dhabi Ports in January. Abu Dhabi Ports made its stock market debut in February, raising 4 billion dirhams ($1.09 billion). “As a result of this acquisition, MyUS will… Continue reading Dubai courier firm Aramex buys Florida e-commerce co MyUS for $265m
Japan’s Nippon Yusen to invest in Indonesia-based Pertamina’s shipping unit
Japan’s Nippon Yusen KK said on Wednesday it will invest in Pertamina International Shipping (PIS), a unit of Indonesia’s state energy firm Pertamina, without disclosing terms of the deal. The move by Japan’s biggest shipping company is aimed at expanding business in Indonesia, where energy and energy transportation demand are expected to increase in tandem with the country’s economic growth, a spokesperson for Nippon Yusen said. Nippon Yusen plans to complete the deal… Continue reading Japan’s Nippon Yusen to invest in Indonesia-based Pertamina’s shipping unit
ID Digest: Kopi Kenangan opens store in Malaysia; APLN sells assets
Indonesia’s Kopi Kenangan has opened its first international store in Malaysia. Meanwhile, listed property developer Agung Podomoro Land has sold a part of its stake in a local mall. Kopi Kenangan arrives in Malaysia Indonesian tech-enabled coffee chain and unicorn Kopi Kenangan has officially expanded to Malaysia by opening its first international store in Suria… Continue reading ID Digest: Kopi Kenangan opens store in Malaysia; APLN sells assets
Indonesia govt offers tax breaks for investments in new capital city project
The Indonesia government will offer tax incentives, including a 30-year tax exemption and 350% tax deduction, for companies investing in the country’s new capital called Nusantara, a top official said at an investors’ gathering on Tuesday. Bambang Susantono, Head of the Nusantara National Capital Authority, said the investment rules for Nusantara will be finalised soon. “We… Continue reading Indonesia govt offers tax breaks for investments in new capital city project
India digest: BeepKart raises $9m, Drivetrain AI bags $15mBeepKart’s Series A round was led by Vertex Ventures Southeast Asia & India.
BeepKart, a full-stack online platform of used two-wheelers, has raised $9 million in a Series A round. Separately, Drivetrain AI, a financial planning and monitoring platform for growing businesses and enterprises, has raised $15 million. BeepKart raises $9m led by Vertex Ventures Southeast Asia & India BeepKart, a full-stack online platform of used two-wheelers, has… Continue reading India digest: BeepKart raises $9m, Drivetrain AI bags $15mBeepKart’s Series A round was led by Vertex Ventures Southeast Asia & India.
Etihad gets new CEO after takeover by Abu Dhabi wealth fund ADQ
Abu Dhabi state carrier Etihad‘s parent company has appointed Antonoaldo Neves as its new chief executive officer, replacing Tony Douglas, after the emirate’s government transferred Etihad‘s ownership to ADQ, the wealth fund said on Wednesday. Douglas, Etihad‘s CEO since 2018, who ADQ said has decided to pursue another unspecified opportunity, will serve as an adviser to the board of… Continue reading Etihad gets new CEO after takeover by Abu Dhabi wealth fund ADQ
Love, Bonito to open first US physical store next year, says “moving towards” IPO
Singapore’s Lovebonito Holdings, owner of the Love, Bonito female fashion brand and backed by investors including Chinese buyout firm Primavera Capital Group, is targeting opening its first US physical store next year, its top executive said. “The US is really one of the big bet markets for us that we want to double down on,” Dione Song, CEO of Lovebonito Holdings, told… Continue reading Love, Bonito to open first US physical store next year, says “moving towards” IPO