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BANGALORE: About US$600mil of the total will be plowed into China where Oyo began operations only 10 months ago. The funding values the startup at US$5bil.
HONG KONG: Jack Ma will step down as executive chairman of Alibaba Group Holding Ltd. in exactly 12 months time with Chief Executive Officer Daniel Zhang to succeed him at Asia's most valuable company.
TOKYO: SoftBank Group Corp’s first quarter profit climbed 49% from a year earlier, thanks to investment gains.
SAN FRANCISCO: Apple said its profit had jumped more than 30% to US$11.5bil in the recently ended quarter, besting market expectations despite selling fewer iPhones than analysts projected.
MUMBAI: Indian companies have been involved in deals worth a record US$97.6bil this year. Top banker JPMorgan Chase & Co is predicting more offshore interest in the nation, particularly in technology, media and telecom.
HONG KONG: Mobike, one of the pioneers of China’s bicycle-sharing craze, is scrapping a key part of its business by dropping the need for deposits amid fierce competition to win users.
Lei Jun gets about $1.5 billion ahead of company’s listing in Hong Kong