Tag Archives: competition

China’s Biggest Auto Maker Reports Rise in 1H Revenue & Profit

Thanks to purchase tax reduction on small-engine vehicles, which account for more than two-thirds of new-car sales in the country. However tax break ends Dec 2016 creates uncertainties SHANGHAI— SAIC Motor Corp., China’s biggest auto maker by sales, reported Wednesday that first-half net profit rose 6% from a year earlier, driven by a tax break that encourages small-car purchases. The Shanghai-based company, which produces cars

Read more

Foodpanda Indonesia for Sale as Low as $1 Million in Cash or in Kinds

Foodpanda, the food delivery startup backed by Rocket Internet, is selling its operations in Indonesia and evaluating its presence in the rest of Southeast Asia as part of a push towards profitability. Multiple sources close to the company told TechCrunch that its business in Indonesia, the world’s fourth-most populous country, is available to potential acquirers for less than $1 million — and an all-cash

Read more