Alibaba Group is further retreating from a corporate overhaul announced a year ago by calling off an initial public offering for logistics unit Cainiao.
The 44-year-old mogul still has a sizeable net worth of $9.3 billion, but he is having trouble convincing investors skeptical of the firm’s future outlook.
Grab's 70% Tumble Shows the Limits of Singapore's Tech Dream bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
(Bloomberg Markets) -- In the ballroom of the five-star Shangri-La Singapore hotel, Anthony Tan celebrated a triumph for the country’s up-and-coming tech scene. “Today we shine a spotlight on Southeast Asia!” he told the adoring crowd. His company, Grab, the region’s answer to Uber, was about to make its stock market debut.Most Read from BloombergIsrael Latest: Israel Vows to Wipe Out Hamas as Ground War LoomsApollo CEO Marc Rowan Demands UPenn Leaders Quit Over ‘Antisemitism’IMF Caught Off Guar
While many tech stocks have stumbled, some as much or more than Grab, it has no been a great time for the Singaporean multinational technology company recently and Grab stocks are still down almost 70%.
A cluster of clean tech firms that got their start in Calgary are growing their operations south of the border as a proposed policy shift in the United States provides a big growth opportunity.
The Strad - Postcard from Oslo: 'Master to Master' symposium thestrad.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestrad.com Daily Mail and Mail on Sunday newspapers.