Egyptian tech transport startup Swvl heads to Southeast Asia


Swvl is planning to launch services in Manila in the first quarter next year followed by other cities in the Philippines, Vietnam, and Thailand.

Tencent-backed Meituan reports wider loss in first earnings since IPO


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.

Textile e-commerce firm Baibu raises $100m Series C2 led by Tiger Global


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.

India: Tiger Global-backed Quikr narrows losses in FY18, revenue up 52%


Quikr, run by Quikr India Pvt. Ltd, has shrunk losses by 28% to Rs 231.2 crore against Rs 323 crore the previous year.

Indonesia Digest: pivots; Sikumis snags follow-on

By has pivoted into a fashion-focused platform by merging with the site of fashion retailer MDS under the new brand

BMW to launch ride-hailing services in China from December


BMW Mobility Service Ltd, a fully-owned subsidiary of the BMW Group, has obtained its ride-hailing licence in Chengdu.

Indonesia’s Tokopedia said to be raising $1b from SoftBank, others


The e-commerce operator is valued at about $7 billion after the round.

Go-Jek pilots online food delivery service Go-Food in Vietnam


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.

Sea Group Q3 loss widens, group strategy officer Alan Hellawell quits


 Hellawal’s responsibilities will be assumed by Yanjun Wang, Sea’s corporate development and strategy team.

MY Digest: Top management shifts in CIMB; AirAsia inks pact with RHB


CIMB’s group CFO Shahnaz Jammal will take on the role of group CEO of group wholesale banking beginning January 1, 2019.