China urges citizens to avoid travel to Iran despite ceasefire
China has again warned its citizens against traveling to Iran amid ongoing security concerns, despite a ceasefire between Tehran and Israel....
Deliveroo exits Hong Kong, selling assets to Foodpanda due to consistent losses and market challenges. Despite efforts to expand, Hong Kong operations made up only 5% of global transactions. The company will close remaining assets and wind up its business by April 7.
British food delivery giant Deliveroo has announced it will exit its Hong Kong operations by selling certain assets to Delivery Hero's foodpanda. The deal, valued at an undisclosed amount, marks the end of Deliveroo’s presence in the region. The company will also close other assets in Hong Kong.
In a statement, Deliveroo explained that several factors specific to the Hong Kong market led the company to make this decision. Despite efforts to expand, its Hong Kong operations were consistently loss-making and accounted for only about 5% of the company's global transactions.
Deliveroo has appointed liquidators to wind up its remaining Hong Kong businesses that were not sold to foodpanda. The platform will continue operating until April 7, allowing users to complete any outstanding orders before the closure.
The move reflects broader challenges faced by international food delivery companies in Hong Kong, as competition intensifies and market conditions become more difficult. Deliveroo's exit from the city highlights the ongoing strategic adjustments these companies must make to align with profitable markets.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Thousands of protesters rallied in Bangkok on Saturday, demanding Prime Minister Paetongtarn Shinawatra resign as political and economic tensions mount.
Oil prices plunged over 12% last week, ending a three-week rally, with experts expecting them to stabilize around $60 if the fragile ceasefire between Israel and Iran holds.
The Asian Infrastructure Investment Bank (AIIB) and the Arab Fund have signed a memorandum of understanding to formalize a strategic partnership focused on advancing sustainable infrastructure in shared priority regions.
Tesla’s new car registrations plunged sharply in June, dropping 64.4% in Sweden and 61.6% in Denmark compared to last year, highlighting growing challenges for the U.S. electric vehicle maker in these Nordic markets.
More than $2.5 billion in new deals and commitments between the United States and African partners were announced at the 17th summit, underscoring the U.S. commitment to prioritizing trade over aid by engaging Africans as equal partners in investment-driven growth, the State Department announced.
Gold prices edged higher on Monday after slipping to their lowest level in more than a month, supported by a weakening U.S. dollar and easing geopolitical tensions that have tempered safe-haven demand.
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