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Toyota invests $1 billion in Grab

Toyota invests $1 billion in Grab.....»»

Category: entertainmentSource: pep pepJun 13th, 2018

Toyota’s $1-billion investment in Grab credit positive for both – Moody s

The $1-billion investment of automotive giant Toyota Motor Corp. in ride-hailing service provider Grab Holdings Inc. is credit positive for both firms, Moody’s Investors Service said.....»»

Category: financeSource:  philstarRelated NewsJun 19th, 2018

Toyota investing $1B in Asian ride-share firm Grab

TOKYO: Toyota said on Wednesday it was investing $1 billion in Asia ride-share company Grab, as the Japanese automaker looks to expand beyond its core business into the “mobility” sector. Grab, which is headquartered in Singapore, is a leading player in the ride-share industry in Asia, and earlier this year agreed to acquire US giant [...] The post Toyota investing $1B in Asian ride-share firm Grab appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJun 13th, 2018

As Saudis wilt on field, kingdom pursues soccer power grab

By Rob Harris, Associated Press MOSCOW (AP) — The Saudis have ambitions to seize control over parts of international soccer. Losing 5-0 by Russia in the World Cup opener shows they might have bigger problems at home. Crown Prince Mohammed bin Salman had to endure the humiliation in the stadium on Thursday, with Saudi Arabia's mauling in Moscow coming at the hands of a side just below the Saudis in the FIFA rankings. Coach Juan Antonio Pizzi studiously sidestepped a question about whether his federation had been distracted lately. But it has. Just when the Saudis had a first World Cup appearance in 12 years to prepare for, the federation has been mounting a power grab of soccer far beyond the kingdom. What appears the creation of just another bureaucratic institution within the sport could actually have wider ramifications. On its face, the establishment of the South West Asian Football Federation by the Saudis, including the United Arab Emirates and Pakistan, to help to develop the game appears a benevolent undertaking, especially when the existing regional governing body is so vast. "Football is about growth and if you don't grow economically, socially, technically, you will not be moving," Saudi federation president Adel Ezzat told The Associated Press. "It's not enough for us to be in the World Cup. "We have a vision that an Asian country will win the World Cup one day, but there must be a start for that. Football is underdeveloped in many areas in Asia." Is the Asian Football Confederation to blame? "Ambitions have to be higher than winning the Asian Cup," Ezzat said. Confederation president Sheikh Salman, a Bahraini, said he "had no objection to the creation of SWAFF as long as it remains as a football body outside of the AFC's zonal structure." Scratch deeper below the surface and the true objectives of the new body seem a little cloudy. It is unclear why SWAFF is required when there are already regional offshoots of the AFC, including the West Asian Football Federation, which is led by Jordan's Prince Ali bin Al-Hussein who resisted an attempt by the Saudis to seize power of his organization before the new regional force emerged. "It will help Asia and it will help FIFA," Ezzat told The Associated Press. "We don't see anything wrong creating that connection between the south and the west. Football needs to grow." Ezzat maintained that SWAFF had followed the right legal steps to avoid breaching the rules of world football's governing body. Ezzat said FIFA governance committee head Mukul Mudgal had been dispatched by FIFA President Gianni Infantino to the SWAFF meeting on May 31 in Jeddah. The Indian judge denied he was in attendance. SWAFF said the founding members also include Pakistan, Sri Lanka, India, Nepal, Bangladesh, Bahrain, Maldives, Yemen, Oman and Kuwait. Oman Football Association General Secretary Said Othman Al Bulushi told the AP his nation was waiting to assess the statutes and legality of the body within FIFA before confirming its membership. The entire Gulf is not in SWAFF. Take a look at the map and three countries in particular are missing: Iran, Qatar and Yemen. "It's not about the geographic map," Saudi federation president Adel Ezzat said. "It's about zones." Could it also be about politics? For three years, a Saudi-led coalition has been trying to drive out Iranian-aligned Shiite rebels known as Houthis from Yemen to break the civil war in the Arab world's poorest nation and restore the exiled government. Across the Gulf, the Saudis are part of a quartet, including the UAE, Egypt and Bahrain, which has spent the last year putting the squeeze on Qatar. Diplomatic ties with the energy-rich country have been severed amid allegations that Qatar supports extremist groups in the region, which Doha denies. The Qataris, though, have plowed ahead with preparations to host an event that will put them at the center of the world's attention: the next World Cup in 2022. Ezzat won't discuss Qatar, or the 2022 World Cup. Turki Al-Sheikh, head of Saudi Arabia's General Sports Authority, has been less circumspect, demanding earlier this year that Qatar be stripped of the hosting rights if corruption around its bid was proven. For now, in Saudi sights is Qatar's flagship sports network, which owns exclusive Middle East and North African rights to the World Cup. The BeIN Sports coverage of the Russia World Cup opener was watched across Saudi Arabia — but on a pirate channel. The beoutQ signal is transmitted by a Riyadh-based satellite provider, whose largest shareholder is the Kingdom of Saudi Arabia. Still, the BeIN coverage was seized on by Al-Sheikh to threaten legal action against the network for "wrongdoings against KSA, its sports and officials, and for exploiting sports to achieve political goals." In a tweet, Al-Sheikh added Friday that this "proves Saudi authorities' true stance when banning this network from airing on its soil." Soccer's world body, though, is finally intervening. FIFA said it is "exploring all options to stop the infringement of its rights, including in relation to action against legitimate organizations that are seen to support such illegal activities." What FIFA would not say is whether Infantino raised Qatar's concerns when he watched the opener in the Luzhniki Stadium alongside the Saudi crown prince. Infantino has been a keen visitor to Saudi Arabia over the last year, including meeting King Salman, as intrigue has swirled about the country's role in a consortium's plans to underwrite $25 billion to launch a vastly expanded Club World Cup and an international Nations League. "He knows for a fact the importance of Saudi Arabia in the region," Ezzat said. "That's why I believe he is paying a lot of attention to Saudi Arabia. ... That's a very important sign. (FIFA) know this country can play a very important role in the development of football." Infantino, though, said he believed the backing for the new competitions was "not part of a wider Saudi sports grab." The proposals have stalled because of opposition within the council to Infantino's secrecy over the financial backers. Growing football is part of a sweeping "Vision 2030" plan to wean Saudi Arabia off its near-total dependence on oil money. Prince Mohammed is trying to push Saudi Arabia to become a more cosmopolitan nation that appeals to international investors. Ezzat wants to create new soccer competitions under the auspices of SWAFF and invite countries to participate from beyond the region — particularly Europe. "The country is going through an important change," Ezzat said. "Football can be a catalyst for change. The FIFA president I'm sure knows this very well. ... My country can play an important role in football." Just not the Saudi national team at the moment......»»

Category: sportsSource:  abscbnRelated NewsJun 16th, 2018

GSIS invests in Macquarie Asia Infrastructure Fund

State-run Government Service Insurance System is set to invest in the $3.3 billion Macquarie Asia Infrastructure Fund (MAIF2), a private fund vehicle intended to finance infrastructure pro-jects in Asia......»»

Category: financeSource:  philstarRelated NewsJun 14th, 2018

Grab is a disaster in progress

ON Tuesday, taxi-booking company Grab Philippines released its 2017 financial report, and the news was even uglier than most people expected. Having not made a dime since its entry into the country in 2013 and posting a loss of P1.56 billion in 2016, Grab finished 2017 P2.91 billion in the red. It does not see [...] The post Grab is a disaster in progress appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJun 6th, 2018

Grab Philippines losses up to P2.9B in 2017 – country manager

GRAB Philippines lost P2.91 billion in 2017, an increase from the P1.56 billion in 2016, claiming that it has never earned anything since it started business in the Philippines. “Grab has not made any net income for the past years since it entered the Philippine market. Revenues from 20 percent commission from rides are used [...] The post Grab Philippines losses up to P2.9B in 2017 – country manager appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsJun 5th, 2018

Aisin buys PH Toyota parts maker

A Japanese supplier of automotive parts has taken the helm of a now former member of the Toyota Group, planning to invest P1.2 billion for a new manufacturing line while improving the currently "underutilized" production capacity.   Through a joint venture signing on Thursday night, Aisin Seiki Co. Ltd. bought a major stake in Toyota Autoparts Philippines Inc. (TAP), a large player in the Philippine autoparts industry for nearly three decades now.   Aisin used to have only a 31 percent equity participation in TAP, while Toyota Motor Corp. (TMC) held 61 percent, and Toyota Motor Philippines Corp. (TMP) had 5 percent.   Aisin is now switching seats with TMC...Keep on reading: Aisin buys PH Toyota parts maker.....»»

Category: newsSource:  inquirerRelated NewsMay 25th, 2018

Miscues push Warriors to brink of elimination

By Shaun Powell, NBA.com HOUSTON — The hefty equipment bag sitting next to the visitor’s locker room entrance after Game 5 of the Western Conference finals never had a chance. Whack! went Draymond Green’s fist against it as he walked by. Well, at least the Warriors hit something as the night grew late. Once again, the defending champions, the team with four All-Stars, the franchise with a pair of former MVPs still in their prime and two of the most efficient machines of this generation went flatter than Texas when it counted. Missed shots, failed stops and poor decisions all piled on their heads. That fourth quarter was mostly a 12-minute mess. It doomed them at the finish, for the second straight game, and now has them on the brink — really! — in the conference finals. The Warriors awaken today with a pair of potential saving graces: Game 6 is in Oakland and Chris Paul is gimpy, and might be done for good. That could be enough to push this series to seven games. Yet nothing is for certain anymore in the Warriors’ world, if only because of the weird and uncharacteristic — for them — developments in the clutch. Simply put, their lack of composure and smarts is the reason they’re in a bind. Imagine: The Rockets don’t score 100 and James Harden missed all 11 of his three-pointers and the Warriors still lose. It was a strange, empty night for the Warriors where nothing made sense for them. Yes, Paul went nuts in the fourth quarter and Houston’s defensive rotations and traps are catching the Warriors — and especially Kevin Durant — by surprise, and yet the Warriors are also doing a good job of stabbing themselves. Thursday's (Friday, PHL time) 98-94 loss was another blown opportunity, another one that got away, and for the first time since The Finals two summers ago the Warriors are staring at elimination. The face of the Warriors in these back-to-back losses belongs to Durant, and it wears the look of a man confused and dumbfounded. He is 1-for-9 shooting over the last two fourth quarters, reduced to a supporting actor, a backup singer, instead of a beast. He’s not the total reason for this, but a strong symptom nonetheless. Could they fall short of The Finals, a place where they were all but destined to go? It’s a reality, obviously, and their margin for error is toothpick-like. But that’s not what coach Steve Kerr’s gut tells him. “I feel great about where we are right now,” he said. “That may sound crazy, but I feel it. I know exactly what I’m seeing out there … we got everything we needed. Just too many turnovers, too many reaches. If we settle down a little bit we’re going to be in really good shape.” Maybe some of Kerr’s mood has something to do with Paul grabbing a hamstring in the final moments, perhaps stripping the Rockets of their best player in this series. Maybe it’s just hard to fathom the Warriors losing four times in a best-of-seven. All that talent and past success can make a man stubborn, almost refusing to ponder the possibility of defeat. Fine, but Kerr and crew must find a way to clean up the bad choices they’ve made with the game on the line, before it becomes habit-forming. Eighteen turnovers isn’t a recipe for winning. “We can learn from it,” said Durant, “and we’ve got another opportunity at home. We’ll be ready to play.” Trailing by a point with 49 seconds left, here’s what the Warriors coughed up: * Quinn Cook missed a three-pointer. The big surprise is that the ball found Cook and he actually took a shot at that stage of the game. * Curry missed a driving layup, and rather than grab the rebound, Green slapped it out toward the perimeter, hoping a teammate would grab it. Trevor Ariza scooped the lose ball instead. * Then: Down three points and seconds left, the play was designed for Curry to spring loose for a three, but Green fumbled a pass that hit him in both hands. Game over. “We were supposed to score,” said Green. “I lost the ball. Nothing more, nothing less.” Before these self-inflicted misadventures, the Warriors were repeatedly punished by Paul, who recovered from an 0-for-7 first half with 18 points in the second half — complete with a payback shimmy aimed at Curry — before pulling up lame with 22 seconds left. Also, Eric Gordon dropped 24 points and went to the line 10 times, thanks to reach-in fouls by beaten Warriors defenders. “What we can’t live with is reaching and jumping on Eric Gordon’s pump fakes,” said Kerr. “We reached on James and he shot nine free throws. We’ve got to be a little more disciplined.” Overall, the Warriors withstood a manic Toyota Center and were locked in a tight finish against a 65-win team, but never led after the eight-minute mark and weren't nearly sharp enough to capture the lead. They were without Andre Iguodala again, but he’s a defensive specialist and for much of the night defense wasn’t a big issue for the Warriors; the Rockets shot 37 percent and Harden didn’t hurt them. Their problems were mistakes and missed shots. Anyway, Golden State has four All-Stars to Houston’s two, and now with Paul’s status questionable, maybe just one. That means, although the Warriors trail 3-2, they’re in a reasonably good position to keep the series alive. They’re not worried. There’s another emotion running through their bodies. “I think they’re angry,” said Kerr. “As they should be. They’re competitors.” This is new territory in the Durant Era. Remember, the Warriors lost only once last season and until the West Finals didn’t perspire much. As expected, the Rockets are indeed the biggest threat they’ve faced. It’s the series that’s meeting the high expectations for drama and suspense and a chance to see the mighty Warriors ousted. Does Paul’s injury linger and ultimately bail out the Warriors? Can Durant rediscover his touch in the clutch? Will the Warriors wise up or once again wig out? There’s nothing at stake, really, except a dynasty that a loaded team was created to become. Curry plans to remain cool and confident, and the Warriors really don’t have any other choice but to adopt that mentality. “We’ve played the last two games good enough to win but just haven’t gotten the job done," he said. "The way we played tonight, if we can repeat that, take care of turnovers, just stay mentally locked on the details for 48 minutes, we know we can get a win. “Just the talent we have on this team and the resiliency, you know we can get the job done. We know we haven’t been in this position before, so it’s a chapter we need to figure out and finish the story.” Veteran NBA writer Shaun Powell has worked for newspapers and other publications for more than 25 years. You can e-mail him here or follow him on Twitter. The views on this page do not necessarily reflect the views of the NBA, its clubs or Turner Broadcasting. .....»»

Category: sportsSource:  abscbnRelated NewsMay 25th, 2018

Sony invests in image sensors, acquires more of EMI Music

TOKYO --- Electronics and entertainment company Sony Corp. said Tuesday it plans to invest 1 trillion yen ($9 billion) mostly in image sensors over the next three years, under a revamped strategy to strengthen both hardware and creative content. Sony also plans to buy for $2.3 billion a 60 percent stake in EMI Music Publishing, from Mubadala Investment Co. EMI has under its wing classics such as the Motown catalog and Queen, and contemporary artists like Kanye West, Alicia Keys and Pharrell Williams. Sony already owns 30 percent of EMI so once the deal is finalized, it will own 90 percent of the company. CEO Kenichiro Yoshida told reporters at Sony's headquarters that the co...Keep on reading: Sony invests in image sensors, acquires more of EMI Music.....»»

Category: newsSource:  inquirerRelated NewsMay 22nd, 2018

Jollibee invests in Tim Ho Wan franchise for Asia Pacific

By Arra B. Francia, Reporter JOLLIBEE Foods Corp. (JFC) will be investing S$45 million, or around P1.74 billion, on the private equity fund that bought the master franchise for Tim Ho Wan in the Asia Pacific, giving the homegrown food giant access to acquire another brand. In a disclosure to the stock exchange on Wednesday, […] The post Jollibee invests in Tim Ho Wan franchise for Asia Pacific appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 9th, 2018

Jollibee invests in Tim Ho Wan franchise

Homegrown fast-food giant Jollibee Foods Corp. is investing up to 45 million Singaporean dollars (P1.74 billion) in a private equity fund that will own the Asia-Pacific master franchise of popular.....»»

Category: newsSource:  manilanewsRelated NewsMay 9th, 2018

JFC invests in Tim Ho Wan brand

HOMEGROWN food giant Jollibee Foods Corp. (JFC) will be investing 45 million Singaporean dollars, or around P1.74 billion, on the buyer of Tim Ho Wan’s master franchise holder in the Asia Pacific. In a disclosure to the stock exchange on Wednesday, May 9, JFC said its wholly-owned subsidiary Jollibee Worldwide Pte. Ltd will invest in […] The post JFC invests in Tim Ho Wan brand appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsMay 9th, 2018

Besides refund, Grab must be fined P270 billion — Nograles

P270 billion. That’s the fine the ride-hailing firm Grab must pay for charging an unauthorized P2-per-minute from millions of rides since 2017......»»

Category: newsSource:  philstarRelated NewsMay 3rd, 2018

Grab faces syndicated estafa charge over P3.2-billion fees

Ride-hailing company Grab Philippines may face charges of syndicated or large-scale estafa should it fail to refund the P3.2 billion it collected from customers for imposing a P2 per minute travel fee......»»

Category: newsSource:  philstarRelated NewsApr 25th, 2018

LTFRB summons Grab to attend hearing on alleged P2 per minute charge

  The Land Transportation and Regulatory Board (LTFRB) has issued a show cause order against Grab Philippines, compelling it to explain why its accreditation should not be suspended or cancelled for allegedly charging P2 per minute of travel time without the Board's approval. The show cause order, issuedon Wednesday, is asking the transport network vehicle service provider to appear on the hearing scheduled onApril 17, at 9:00 a.m.       On Tuesday, Puwersa ng Bayaning Atleta (PBA) part-list Rep. Jericho Nograles said Grab should refund its customers some P1.8 billion as it allegedly "illegally" charged customers P2 per minute of travel time, acc...Keep on reading: LTFRB summons Grab to attend hearing on alleged P2 per minute charge.....»»

Category: newsSource:  inquirerRelated NewsApr 12th, 2018

Lawmaker: Grab charges illegal fares, owes customers refund

MANILA, Philippines – A lawmaker on Tuesday, April 10, accused Grab Philippines of "illegally" charging its consumers and said the ride-hailing service should refund its customers P1.8 billion for the last 5 months alone. In an interview with CNN Philippines , PBA Representative Jericho Nograles accused Grab of illegally charging P2 per ........»»

Category: newsSource:  rapplerRelated NewsApr 10th, 2018

Auto parts investments worth P1.28B okayed – BoI

Parts supply projects worth a total of P1.28 billion have been approved in support of the Comprehensive Automotive Resurgence Strategy (CARS) program, the Board of Investments (BoI) said. The projects involve suppliers of Toyota Motor Philippines Corp. (TMPC): Valerie Product Mfg. Inc. (P94.5 million) and Technol Eight Phils. Corp. (P495.9 million), which will manufacture body [...] The post Auto parts investments worth P1.28B okayed – BoI appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsMar 3rd, 2018

GOING ELECTRIC | Toyota to make over 10 battery EV models in early 2020s

Toyota Motor Corp on Monday said it will market more than 10 all-electric vehicle (EV) models globally in the early 2020s, and that investment to develop their batteries is likely to exceed $13 billion (1.5 trillion yen) through 2030......»»

Category: newsSource:  interaksyonRelated NewsDec 18th, 2017

Toyota Motor investing in Uber rival Grab

Toyota Motor investing in Uber rival Grab.....»»

Category: financeSource:  thestandardRelated NewsAug 30th, 2017

Uber rival Grab to raise $2.5 billion in new financing

SINGAPORE: Southeast Asian ride-hailing firm Grab said Monday it expects to raise $2.5 billion in financing, mostly from China's Didi Chuxing and Japan's Softbank, as it strengthens its lead over rival Uber. Didi, China's ride-hailing leader, and mobile giant SoftBank will invest up to $2.0 billion while $500 million is expected to come from other [...].....»»

Category: newsSource:  manilatimes_netRelated NewsJul 24th, 2017