Egyptian tech transport startup Swvl heads to Southeast Asia

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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

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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

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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%

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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: Mataharimall.com pivots; Sikumis snags follow-on

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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 to launch ride-hailing services in China from December

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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

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


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

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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

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 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

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