By Alexander Cornwell
Swvl is planning to launch services in Manila in the first quarter next year followed by other cities in the Philippines, Vietnam, and Thailand.
Meituan Dianping, which has a market valuation of around $42 billion, has seen its shares drop 13% since listing amid cooler economic growth and a biting trade war between China and the United States which has sapped investor confidence.
Baibu said it will use proceeds from the latest round to build a new high-efficiency supply chain to better serve enterprises in the apparel industry.
Quikr, run by Quikr India Pvt. Ltd, has shrunk losses by 28% to Rs 231.2 crore against Rs 323 crore the previous year.
Mataharimall.com has pivoted into a fashion-focused platform by merging with the site of fashion retailer MDS under the new brand MATAHARI.com.
BMW Mobility Service Ltd, a fully-owned subsidiary of the BMW Group, has obtained its ride-hailing licence in Chengdu.
The e-commerce operator is valued at about $7 billion after the round.
In the food delivery segment, the major players in VIetnam are Delivery Now, which is backed by Singapore-based Sea Limited, and GrabFood, which launched its service in June 2018.
Hellawal’s responsibilities will be assumed by Yanjun Wang, Sea’s corporate development and strategy team.
CIMB’s group CFO Shahnaz Jammal will take on the role of group CEO of group wholesale banking beginning January 1, 2019.