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Tencent to maintain aggressive investment stance in face of challenging 2019

HONG KONG (Reuters): Tencent Holdings Ltd said investment is central to its overall strategy and so it will maintain its scale of investment after an aggressive 2018, brushing aside near-term risks such as the bursting of China’s tech bubble as economic growth slows.

Bankers are sick of choosing sides between Qatar and Saudi Arabia

DUBAI: When Saudi Arabia cut ties with Qatar in mid-2017, many international bankers chose to chase a potential fee windfall in Riyadh over doing deals with its rich but isolated neighbour.

Uber posts US$50bil in annual bookings

SAN FRANCISCO: Uber Technologies Inc had US$50bil in total bookings for its ride-service and food-delivery businesses last year, a testament to the size and global reach of the company as it prepares to woo investors in one of the biggest public stock listings to date.

Levi Strauss looks beyond jeans With IPO

Denim pioneer is seeking to raise more than US$600 mil to make acquisitions

Wall Street advances on trade hopes, tame inflation data

NEW YORK: Wall Street closed higher on Wednesday as investor optimism was stoked over hopes the United States and China could iron out a trade deal, and benign inflation data suggested the Federal Reserve would hold interest rates steady in the near term

The Dow Jones Industrial Average rose 117.51 points, or 0.46 percent, to 25,543.27, the S&P 500 gained 8.3 points, or 0.30 percent, to 2,753.03 and the Nasdaq Composite added 5.76 points, or 0.08 percent, to 7,420.38.  Of the 11 major sectors in the S&P 500, all but utilities and communications services ended the session in positive territory.

A class of funds in Saudi Arabia almost extinct as IPOs fade

DUBAI: Betting on initial public offerings in Saudi Arabia in the past few years has proven to be a bad idea.

DoorDash discusses funding at over US$6bil valuation

SINGAPORE: The food delivery startup DoorDash Inc is negotiating an approximately US$500mil funding round led by Singapore’s state investment firm Temasek Holdings Pte Ltd, a person familiar with the matter said. Though the amount could differ because the details have not been finalised.

Uber lays out its plan for long-term self-disruption

Uber Technologies Inc is more than just ride-hailing. That’s a key part of the pitch it’s making to investors as the company prepares for an initial public offering this year. In fact, some of Uber’s new lines of business may actively dissuade people from calling one of its cars.

Besides investments in areas like food delivery and trucking, Uber is betting big on bikes and scooters. In April, it purchased Jump Bikes for US$200mil (RM815.32mil). — AFP

DoorDash discusses funding at over US$6b valuation

SINGAPORE: The food delivery startup DoorDash Inc. is negotiating an approximately US$500 million funding round led by Singapore’s state investment firm Temasek Holdings Pte, a person familiar with the matter said. Though the amount could differ because the details have not been finalised.

Food delivery is growing fast with startup DoorDash Inc. is negotiating an approximately US$500 million funding round led by Singapore’s state investment firm Temasek Holdings Pte.

Airbnb eyes the sky with hire of aviation exec

Airbnb said that it hired airline industry veteran Fred Reid away from an autonomous flight vehicle startup backed by Google co-founder Larry Page.

Airbnb hired an aviation exec as part of an effort to add 'how you get there' to a platform that already features lodging and activities. — AFP Relaxnews