| | AUGUST 20268IN FOCUSSingapore's Grab increased its yearly revenue and profit predictions, motivated by robust demand for its ride-hailing and delivery services, spurred by promotional offers, driver incentives, and AI initiatives.The optimistic forecasts and a new $750 million stock repurchase plan drove shares of the Nasdaq-listed firm up four percent in after-hours trading.Grab, the largest ride-hailing and delivery company in Southeast Asia, has relied on features such as order bundling and an affordable tier named "Saver" to appeal to budget-minded customers facing increased fuel costs due to the Iran conflict.CFO Peter Oey stated that the company's affordability approach, along with AI investments, has enhanced driver earnings and drawn in new customers. The firm allocated $706 million towards incentives for customers and partners in the second quarter, which included over $7 million to bolster driver earnings amid the fuel crisis, contributing to the rise in active drivers and customer rides on the platform.Emirates NBD has consented to purchase HSBC Egypt's retail banking operations, enhancing its footprint in a key regional market for the group and reinforcing its status in Egypt's consumer banking industry.The lender listed in Dubai announced on Sunday that its fully owned subsidiary, Emirates NBD Egypt, had finalized agreements to purchase the retail banking operations of HSBC Bank Egypt.The transaction is still dependent on regulatory approvals and standard closing conditions.As per the agreement, Emirates NBD Egypt will acquire HSBC Egypt's retail banking portfolio, which encompasses its customer base, branch and ATM network, along with the employees involved in the business.The bank stated that the purchase is anticipated to reinforce Emirates NBD Egypt's status as a top retail and premium banking brand in the nation while improving links along the UAE-Egypt banking route.Egypt continues to be a significant regional growth market for Emirates NBD as the group persists in broadening its international operations.GRAB LIFTS ANNUAL FORECASTS AS AI AND INCENTIVES DRIVE GROWTHEMIRATES NBD EXPANDS EGYPT FOOTPRINT WITH HSBC BANKING DEALLG Uplus has purchased Pago Networks, a Korean cybersecurity company focused on managed detection and response (MDR) services, as the telecom operator aims to enhance its security in the age of artificial intelligence (AI).The purchase is part of LG Uplus' initiatives to enhance its cybersecurity capabilities and expand its business-to-business (B2B) security operations as a future growth driver.The acquisition signifies LG Uplus' second corporate purchase since acquiring LG HelloVision in 2019.Pago Networks offers MDR services, where security experts continuously monitor, analyze, and respond to security incidents. Utilizing its exclusive DeepACT platform, the company provides services to clients in various sectors such as finance, manufacturing, and information technology while also extending its reach to seven countries in Southeast Asia.LG Uplus intends to utilize Pago Networks' MDR knowledge to create a cohesive security system that encompasses authentication, networks, security surveillance, and threat management.It aims to grow its B2B security business by utilizing its improved capabilities.LG UPLUS ACQUIRES CYBERSECURITY FIRM FOR AI SECURITY ABILITIES
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