From Japan’s electronics to Australia’s iron ore, the Asia-Pacific region’s economies depend on selling parts and materials to feed China’s export machine. That is why the prospect of a deepening U.S.-China trade conflict has these nations worried about getting caught in the crossfire—even if some of them have sympathy for President Donald Trump’s criticism of China. “It’s... … [Read more...] about U.S.-China Trade-War Crossfire Threatens Asia
Asia
Uber Sells Southeast Asia Business to Grab After Costly Battle
SINGAPORE/SAN FRANCISCO — Uber Technologies has agreed to sell its Southeast Asian business to bigger regional rival Grab, the ride-hailing firms said on Monday, marking the U.S. company's second retreat from an Asian market. The industry's first big consolidation in Southeast Asia, home to about 640 million people, puts pressure on Indonesia's Go-Jek, which is backed by Alphabet's Google and China's Tencent Holdings Ltd. A shake-up in Asia's fiercely competitive ride-hailing industry became likely earlier this year when Japan-based SoftBank Group Corp's Vision Fund made a multibillion-dollar investment in Uber. SoftBank owns stakes in most major global ride services companies, and executives have indicated they favored consolidation. SoftBank already had investments in Grab and India's Ola, and Vision Fund Chief Executive Rajeev Misra had urged Uber to focus less on Asia and more on profitable markets such as Latin America, a person familiar with the matter said. Grab … [Read more...] about Uber Sells Southeast Asia Business to Grab After Costly Battle
Li Ka-shing, for many years the richest man in Asia, will retire at 89
"Too long" was how Li Ka-shing, known fondly by locals as chiu yan (Superman) for his business sense, described his working life when he announced this month that he would be retiring in May. Asia's pre-eminent dealmaker has been around for longer than his fictional namesake, scoring and selling assets in ports, telecoms, retail and property to amass a fortune estimated at $36 billion. Few expect Li, who will turn 90 in late July, to hang up his cape for good. He said he will stay on to advise his oldest son, Victor Li, who will inherit his two main businesses. 'It will be the same' The first is CK Hutchison, a conglomerate with interests in power plants, perfume and much in between. It runs 52 ports and owns 14,000 high-street stores, including Watsons at home and Superdrug in Britain. The second is CK Asset, one of Hong Kong's biggest property developers. Combined they are worth $79.7 billion. At the news conference, the younger Li made all the right noises. "When I return to work … [Read more...] about Li Ka-shing, for many years the richest man in Asia, will retire at 89
Southeast Asia’s Grab buys Uber’s regional business
Fast growing ridesharing, food delivery and financial services business Grab is acquiring Uber's Southeast Asian business operations The company said Monday that Uber will in turn take a 27.5 percent stake in Singapore-based Grab and its CEO, Dara Khosrowshahi, will join Grab's board. Uber has been battling challenges, with its full-year net loss widening to $4.5 billion in 2017 as it endured multiple scandals and the replacement of its CEO. Since becoming CEO Khosrowshahi has been maneuvering to make the company profitable before a planned initial public offering expected next year. In China, too, Uber sold off its local business to a competitor and partner, Didi Chuxing, taking a stake in Didi. In Russia, it agreed to merge its ride-hailing business in the country with Yandex, a local search-engine leader that also runs a popular taxi-booking app. Grab now provides services in Singapore, Indonesia, the Philippines, Malaysia, Thailand, Vietnam, Myanmar and Cambodia. It says it is … [Read more...] about Southeast Asia’s Grab buys Uber’s regional business
Asia Durr, a star all season, breaks through for Louisville in Sweet 16 win over Stanford
Share This Story! Let friends in your social network know what you are reading about Facebook Email Twitter Google+ LinkedIn Pinterest Asia Durr, a star all season, breaks through for Louisville in Sweet 16 win over Stanford Louisville star Asia Durr poured in a team-high 24 points in the team's 86-59 win against Stanford in the regional semifinal Friday night. Sent! A link has been sent to your friend's email address. Posted! A link has been posted to your Facebook feed. Join the Conversation To find out more about Facebook commenting please read the Conversation Guidelines and FAQs Subscribe Today Log In Subscribed, but don't have a login? Activate your digital access. Jake Lourim, Louisville Courier Journal Published 10:41 a.m. ET March 24, 2018 CLOSE Louisville's coach Jeff Walz is thankful to many after the Cards advanced to the Sweet 16 with a win over Marquette in the KFC Yum Center. CONNECT TWEET LINKEDIN … [Read more...] about Asia Durr, a star all season, breaks through for Louisville in Sweet 16 win over Stanford