Ahead of IPO, Uber signals there’s more to it than ride-hailing


As it preps for its IPO next year, Lyft has been stressing its gains in ride-hailing. Uber, meanwhile, is trumpeting just about everything else.

Pakistan’s Tez Financial raises $1.1m seed funding led by Omidyar

Other investors in the round included Accion Venture Lab, the seed-stage investment initiative of global nonprofit organisation Accion, and Planet N.

People Digest: Hussain is HSBC Singapore chairman; TransPacific names HK director

TransPacific Group, a placement agent for Asian institutional investors, has appointed Akito Hattori as a director in its Hong Kong office

Japan’s SBI Holdings backs $18m round for robotics startup Meltin

The fresh capital will be used to accelerate the development of avatar robots and medical devices.

Novartis to acquire US-based cancer drugmaker Endocyte for $2.1b

Novartis has agreed to pay $24 per share in cash for Endocyte, more than 15 times its value in September 2017.

IFC mulls extending $200m debt to Turkish homecare products maker Hayat Kimya

The home-care products manufacturer plans to make greenfield investments in Pakistan and Vietnam.

MEG rejects $2.3b takeover bid by Li Ka-shing’s Husky Energy

MEG Energy plans to start a strategic review with an eye to finding another buyer.

Saudi cloud communication startup Unifonic bags $21m funding led by STV

The round was joined by Riyad TAQNIA Fund, Endeavor Catalyst, ELM, and Raed Ventures.

Blackstone plays down concerns over Saudi funding

Blackstone has long cultivated Saudi Arabia as an investor, and the Kingdom’s main sovereign wealth fund agreed last year to contribute up to $20 billion for its new infrastructure fund.

Takeda gets Japanese approval for $62b Shire purchase

The deal, which will be the largest overseas purchase by a Japanese company, has already received unconditional clearance from regulators in the United States, Brazil and China.