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2024-11-20 16:28:16

As Amazon and Temu push into Africa, Jumia retreats to core markets
Jumia’s path to profitability grows steeper as foreign competitors make inroads across the continent. As global businesses pivot toward Africa, Jumia, the continent’s homegrown e-commerce leader, is carving its own niche. Dominating with over 24% of Africa’s e-commerce market, Jumia has solidified itself as a central figure in the region’s online shopping landscape. In...

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2024-11-13 15:35:42

ASEAN-6 B2C e-commerce export revenue seen to reach $30.4 billion in 2028 : Amazon Global Selling
ASEAN-6 (Singapore, Malaysia, Thailand, Vietnam, Indonesia, and the Philippines)’s business to consumer (B2C) e-commerce export revenue for is expected to reach $30.4 billion in 2028, a report commissioned by Amazon Global Selling showed Wednesday. According to the report conducted by Access Partnership and commissioned by Amazon Global Selling, assuming the current pace of e-commerce...

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2024-12-10 11:24:07

Cyberport’s AI Supercomputing Center officially commences operations
Hong Kong Cyberport’s Artificial Intelligence Supercomputing Center (AISC), first of this kind currently in Hong Kong, has officially commenced operations, and the AI Lab is also open concurrently. Alvin Kwock, Co-founder of AIFT (formerly known as OneDegree Group) said in a statement on Tuesday that the launch of AISC is a key strategic step of the arms race that accelerate the timeline...

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2024-11-11 16:16:27

Gobi-Core Unveils “Philippine Horizons” Report, the Future of Filipino Innovation in Asean
Gobi-Core Philippine Fund, the Philippine-focused venture capital fund under Gobi Partners, has just launched its groundbreaking report in partnership with Alibaba Cloud and Eskwelabs, “Philippine Horizons: Filipino Innovation in the ASEAN Landscape.” This report, designed to elevate the conversation on the Philippines’ startup ecosystem, benchmarking it against ASEAN...

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2024-11-30 08:16:42

Malaysia’s Catcha Digital acquires 51 percent stake in Nexible Solutions for $2.56M to expand into SaaS and AI sectors
Malaysia-based digital platform Catcha Digital Berhad has announced its entry into a share sale agreement to acquire a 51 percent interest in Malaysian software as a service (SaaS) firm Nexible Solutions Sdn Bhd (Nexible) for a cash consideration of MYR 11.38 million ($2.56 million). This strategic acquisition marks Catcha Digital’s expansion into the information technology (IT) sector,...

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2024-12-16 06:11:41

Maybank expects e-commerce/on-demand services growth for Singapore internet firms to be sustained over the medium term
Maybank Investment Bank said Monday that it expects core e-commerce/on-demand services growth of internet companies in Singapore to be sustained over the medium term owing to under-penetration. The research house said in a note that it thinks fintech growth could lead, piggybacking on core services as well as from the low base effect. “As an ecosystem play, fintech cash burn could be...

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2024-11-14 04:54:15

Maybank raises Grab’s earnings forecast after solid results in third quarter
Maybank Investment Bank has raised Grab Holdings 2024-2026 adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) estimates by 23 percent to 27 percent. The research house said in a note on Tuesday that following a relatively muted second quarter, Grab made a solid come back in third quarter with an across-the-board improvement, beating its estimates by 1 percent to...

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2024-11-30 08:31:29

Maybank revises up GoTo Gojek Tokopedia revenue forecasts
Maybank Investment Bank has revised up Indonesian tech platform GoTo Gojek Tokopedia FY25/26 revenue forecasts by 17 percent/ 15 percent, after the firm’s first nine months revenue beat its forecast. Maybank said in a note on Friday that it has raised the firm’s target price to IDR 105 ($0.0066) from IDR 95 ($0.006) and maintain buy on the stock. According to the research house,...

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2024-12-18 01:27:44

Singapore and Australia expand cooperation on AI with new MOU
Singapore and Australia have signed a new Memorandum of Understanding (MOU) reaffirming their commitment to facilitate artificial intelligence (AI) adoption amongst their citizens and businesses, and promote responsible AI development and deployment. The MOU on Cooperation on AI was signed by Josephine Teo, Singapore’s Minister for Digital Development and Information, and Ed Husic,...

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2024-12-10 11:17:33

Singapore’s Crypto.com teams up with Deutsche Bank for banking services
Singapore-based cryptocurrency exchange company Crypto.com announced Tuesday that Deutsche Bank will provide corporate banking services for Crypto.com in Singapore, Australia and Hong Kong, with a commitment to working closely to provide additional banking support and country coverage as the relationship progresses. Crypto.com said in a statement that the partnership is a milestone for...

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