And, Alibaba will acquire a 50% stake in Singapore’s AXA Insurance Tower for S $ 1.68 billion; Uber Eats withdraws from Saudi Arabia and Egypt, and transfers its business to Careem Now in the UAE.

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Globalization of Chinese Enterprises

JD.com and LG Electronics signed a strategic cooperation agreement. Recently, LG Electronics China and JD.com signed a strategic cooperation agreement to determine the sales target of LG Electronics ’full range of products on the JD.com platform at 5 billion yuan. LG Electronics will provide more than 12,000 stores in JD. Dedicated to products, layout more than a thousand “household appliances” demonstration stores. (Finance Association)

Alibaba will acquire a 50% stake in Singapore ’s AXA Insurance Tower for S $ 1.68 billion. According to the SGX announcement, the consortium led by Peng Ruili Land Group has reached an agreement to sell 50% of the equity of Singapore ’s AXA Insurance Building at a price of S $ 1.68 billion (approximately RMB 8.4 billion). To Alibaba; it is expected that the sale of shares will be transferred around June; Perennial NewCo and Alibaba will sign a joint venture agreement to renovate the Ansheng Insurance Building.

Xiaomi Q1 smartphone shipments in Western Europe rose 79%. It is learned that in the first quarter, Xiaomi ’s shipments in the Western European smartphone market increased by 79% year-on-year, and its market share reached 10%. By country, Xiaomi ’s Spanish shipments increased 46% year-on-year and market share was 28%; German shipments market share was 6%; Italian shipments increased 306% year-on-year and market share was 16%; French shipments The year-on-year growth was 83%, and the market share was 11%.

Research institution: Huawei Hisilicon ’s first-quarter sales reached US $ 2.67 billion, making it the world ’s top ten for the first time. According to foreign media reports, data released by research institutes show that Hisilicon ’s sales in the first quarter of this year were 2.67 billion US dollars, a year-on-year increase of 54%. After a year-on-year increase in sales, HiSilicon has become the top ten semiconductor sales company. This is the first time HiSilicon has entered the top 10. The other nine manufacturers in the top ten semiconductor sales in the first quarter were Intel, Samsung, TSMC, SK Hynix, Micron, Broadcom, Qualcomm, Texas Instruments and Nvidia. (TechWeb)

India

U.S. investment company Next Capital LLC isIndian Vesta Aerospace Technology Corporation injects US $ 10 million. According to DealStreetAsia, Vesta was founded by Sureban in 2018 to help start-ups and mid-sized companies use small satellites, satellite communications, sensors and connected devices for business activities. The company has the ability to build small satellite platforms for applications such as communications and Earth observation missions.

American consulting firm Cognizant acquires Collaborative Solutions, an Indian cloud consulting company. According to ET Tech, the transaction is expected to be completed in the second quarter of 2020. This is Cognizant’s fourth acquisition of cloud services related businesses. Collaborative Solutions is a private consulting company specializing in cloud applications for finance and human resources.

Uber considers laying off 700 people in India. According to TechInAsia, ride-hailing service company Uber is expected to lay off about 500 to 700 people in India. Uber CEO Dara Kosrosasi reminded employees that Uber may take stringent measures to ensure follow-up development. A person familiar with the situation said Uber is likely to announce layoffs after lifting the blockade.

In order to connect with food aggregators such as Zomato and Swiggy, the National Restaurant Association of India (NRAI) is currently developing a takeaway and restaurant aggregator platform. According to Inc24, NRAI Chairman Anurag Katriar announced the news on May 6. The platform will provide online ordering, meal delivery and contactless dining options to minimize the restaurant’s dependence on third-party aggregation platforms. NRAI, which has more than 600,000 restaurants and hotels, has made it clear that the platform will provide food delivery services in a transparent manner, share customer data with related restaurants, and allow restaurants to reduce food delivery costs and management costs.

Southeast Asia

“Indonesian version of American cuisine” Stoqo closed down. According to TechInAsia, Stoqo had announced its closure last week. The company had previously heard news of its platform’s customized operation due to the outbreak. Established in 2017, Stoqo cuts from cost-effectiveness and directly connects farmers and small-B merchants of the origin, reducing the number of middlemen and maximizing the profitability of terminal merchants.

Korean credit card company KB Kookmin Card has signed an agreement to acquire Thai Fintech company J Fintech. According to DealStreetAsia, Korean credit card company KB Kookmin card will acquire a 51% stake in Thai Fintech company J Fintech for US $ 20 million. J Fintech is a subsidiary of Jaymart, a Thai listed retailer. The company is also involved in insurance, consumer finance, debt management and real estate development.

Singapore fintech platform Nium received investment from Visa and BRI Ventures, a venture capital of Bank Indonesia. According to KrASIA, Singapore-based fintech platform Nium announced on Wednesday that the company has raised new funds from multiple investors, including global payment service provider Visa and corporate venture capital under Indonesia ’s BRI Bank Company BRI Ventures. Nium will use the funds to further develop its payment infrastructure, including services for consumers, SMEs, large enterprises, banks and financial institutions.

Latin America

Brazilian online market platform OLX launches its digital wallet: OLX Pay. According to LABS, this new service will first be tested in the city of Campinas, in the state of Sao Paulo, Brazil. The new payment options allow transactions and withdrawals. This feature is only applicable to Visa and Android operating system devices issued in Brazil and users with active accounts on OLX. This payment method allows payment in installments by credit card, up to 12 times.

Middle East & Africa

Uber Eats withdrew from Saudi Arabia and Egypt and transferred its business to Careem Now in the UAE. According to KrASIA, Uber said in a document submitted to the regulator that Uber Eats, a food delivery company owned by Uber, will withdraw from Saudi Arabia, Egypt and five other markets. In addition to withdrawing from Saudi Arabia and Egypt, Uber Eats will also transfer its UAE business to Careem, which operates its own food delivery service Careem Now in the UAE.

Other

Facebook plans to launch the Discover app to provide free data traffic to users in developing countries. Facebook is testing an app called Discover, availableProvide users with free browsing data provided by multiple mobile partners to expand Internet access in developing countries. Users will get free data from their providers every day and receive notifications when data is available. Discover only provides low-bandwidth browsing, so users can load text on the site, but not video, audio, or other data-intensive elements. Facebook is conducting its first trial in Peru, but plans to launch it in some other countries in the future, including Thailand, the Philippines and Iraq.

Text | Luo Linqi @ 出海

Picture | Pexels