Asia Digest: Mastercard expands in Myanmar; DiDi launches in Russia

Payment major Mastercard has expanded into the Myanmar market by incorporating an entity in the country while China’s Didi Chuxing has started offering its ride-hailing services in Russia.

Mastercard to set up entity in Myanmar

Mastercard on Tuesday announced that it is taking steps to incorporate an entity in Myanmar.

The payment major will establish a local office presence in Yangon and appoint a country business development manager.

Mastercard said that the establishment of the local office underscores its long-term commitment to advancing Myanmar’s national digital agenda.

“as part of the organization’s commitment to grow the local talent pool, Mastercard is well on its way to assembling a local team which will lead the local efforts and facilitate Mastercard’s objective for sustainable, domestically relevant, long-term success,” said Safdar Khan, Division President, Southeast Asia Emerging Markets, Mastercard.

China’s DiDi launches in Russia

China’s Didi Chuxing has started offering its ride-hailing services in Russia, its first Eurasian market, according to an announcement.

The launch of DiDi Express in Kazan, the capital and largest city of the Republic of Tatarstan, Russia is a new milestone in the company’s global expansion.

Driver recruitment began in late July and has been well received by the local driver community, it said.

DiDi already operates mobility, food and delivery services in Australia, Japan, Brazil, Mexico, Costa Rica, Chile, Colombia and Panama.

In May, Didi Chuxing announced its autonomous driving subsidiary raked in $500 million in what is the firm’s first external funding round since DiDi created the subsidiary in 2016.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.