Headlines 

Uber Agrees on Southeast Asian Sale to Grab

Uber Technologies Inc. has reached an agreement to sell its Southeast Asian ride-hailing business to rival Grab and could announce the deal as early as Monday morning in Singapore, people familiar with the matter said. The agreement — which includes all of Uber’s operations in Southeast Asia as well as Uber Eats in the region — gives the U.S. company a stake of between 25 percent and 30 percent in the new combined business, the people said, asking not to be identified ahead of an official announcement. The deal, which…

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Uber Pulls Out of Southeast Asia, Selling Operation to Rival Grab

Uber Technologies Inc. has agreed to sell its Southeast Asian operations to Grab, withdrawing from yet another fast-growing region to end a war of attrition with a fierce local rival. Under the agreement, Grab will acquire all of Uber’s operations in a region of 620 million people, including food delivery service UberEats. The U.S. ride-hailing behemoth in return gets a 27.5 percent stake in a combined entity and its chief executive officer will join the board of the Singapore-based company. Bloomberg News reported over the weekend that the two companies…

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Singapore’s Economy Grows Faster Than Estimated

Singapore’s economy finished 2017 on a solid footing, allowing more room for policy makers as they consider raising taxes and tightening monetary policy this year. Growth was higher taxes when the government releases its budget on Feb. 19, with one option being an increase in the goods and services tax. The Monetary Authority of Singapore may also shift to a tightening stance after government and the central bank forecast GDP growth of 1.5 to 3.5 percent this year. A stabilizing labor market and recharged property market is setting up a…

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Asia’s Richest Banker Spots a Once-in-a-Lifetime Opportunity

For India, it’s a $207 billion mess, a pile-up of bad loans years in the making that’s dragging on growth. For the nation’s wealthiest banker, it’s the kind of opportunity that very rarely presents itself. What has billionaire Kotak Mahindra Bank Ltd., in an interview. “Through this you could actually get assets that would give disproportionate returns for long periods of time.” Funds controlled by Kotak Mahindra are looking at deals involving the assets and debts of some of the first 12 companies going through the bankruptcy courts, Kotak said. Industries…

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