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 United States has warned Vietnam that its \$123 billion trade deficit is “unsustainable” as both nations enter reciprocal tariff negotiations, prompting Hanoi to crack down on illicit transshipments and seek greater imports of U.S. high-tech goods.
In a high‑stakes May 18 runoff, nationalist George Simion and centrist Nicușor Dan clash in a tight race that could steer Romania’s political and European trajectory for years to come.
On May 19, London and Brussels are set to kick off their first annual summit, prioritizing a new UK–EU defense and security pact even as negotiations continue with Washington over tariff relief on British steel, cars and aerospace components.
Archer Aviation’s four‑seat “Midnight” electric air taxi will shuttle fans, VIPs and support teams between major LA28 venues—SoFi Stadium, the Coliseum, LAX and more—in 10–20 minute hops, marking the first use of eVTOLs at any Olympic Games.
On May 16, 2025, Tirana, Albania, hosts the sixth European Political Community (EPC) Summit. Under the theme "A New Europe in a New World: Unity – Cooperation
The United States has warned Vietnam that its \$123 billion trade deficit is “unsustainable” as both nations enter reciprocal tariff negotiations, prompting Hanoi to crack down on illicit transshipments and seek greater imports of U.S. high-tech goods.
In a high‑stakes May 18 runoff, nationalist George Simion and centrist Nicușor Dan clash in a tight race that could steer Romania’s political and European trajectory for years to come.
On May 19, London and Brussels are set to kick off their first annual summit, prioritizing a new UK–EU defense and security pact even as negotiations continue with Washington over tariff relief on British steel, cars and aerospace components.
Archer Aviation’s four‑seat “Midnight” electric air taxi will shuttle fans, VIPs and support teams between major LA28 venues—SoFi Stadium, the Coliseum, LAX and more—in 10–20 minute hops, marking the first use of eVTOLs at any Olympic Games.
On May 16, 2025, Tirana, Albania, hosts the sixth European Political Community (EPC) Summit. Under the theme "A New Europe in a New World: Unity – Cooperation
Israeli Prime Minister Benjamin Netanyahu said the war in Gaza will not stop until Hamas is destroyed, following the release of US-Israeli soldier Edan Alexander.
Ukrainian President Volodymyr Zelenskyy met Turkish President Recep Tayyip Erdogan in Ankara on May 15, with discussions reportedly focusing on upcoming peace talks between Ukrainian and Russian delegates in Istanbul.
Qatar signed a landmark agreement with U.S. aerospace giant Boeing on Wednesday to acquire 160 aircraft for Qatar Airways, a deal valued at $200 billion. The signing took place in Doha during the visit of U.S. President Donald Trump.
Ukrainian and Russian delegations meet behind closed doors at Istanbul’s Dolmabahçe Palace at 10:00 local time today to explore security guarantees, territorial integrity and a possible ceasefire.
Japan is preparing for a new round of trade discussions with the U.S. as both sides try to resolve differences before higher tariffs on Japanese automobile exports take effect in July.
President Serdar Berdimuhamedov has authorized state corporations Turkmengaz and Turkmenneft to enter into agreements with PETRONAS Carigali Sdn. Bhd. (Malaysia) and ADNOC Turkmenistan RSC Limited (UAE), marking a significant step in enhancing country's energy sector
Adidas shareholders have reelected Chairman Thomas Rabe for another term, despite concerns from key investors over his multiple commitments and calls for leadership change.
Microsoft has announced 6,000 job cuts, representing nearly 3% of its workforce, as part of a strategy to streamline operations and prioritize investments in artificial intelligence.
Burberry, the iconic British luxury brand, has announced global job cuts and revealed a better-than-expected profit as part of its turnaround strategy under CEO Joshua Schulman.
The United States has warned Vietnam that its \$123 billion trade deficit is “unsustainable” as both nations enter reciprocal tariff negotiations, prompting Hanoi to crack down on illicit transshipments and seek greater imports of U.S. high-tech goods.
In a high‑stakes May 18 runoff, nationalist George Simion and centrist Nicușor Dan clash in a tight race that could steer Romania’s political and European trajectory for years to come.
On May 19, London and Brussels are set to kick off their first annual summit, prioritizing a new UK–EU defense and security pact even as negotiations continue with Washington over tariff relief on British steel, cars and aerospace components.
Archer Aviation’s four‑seat “Midnight” electric air taxi will shuttle fans, VIPs and support teams between major LA28 venues—SoFi Stadium, the Coliseum, LAX and more—in 10–20 minute hops, marking the first use of eVTOLs at any Olympic Games.
On May 16, 2025, Tirana, Albania, hosts the sixth European Political Community (EPC) Summit. Under the theme "A New Europe in a New World: Unity – Cooperation
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