Grab
Grab expects its food delivery business to break even by the end of the year following positive earnings before interest, taxes, depreciation and amortisation recorded in several of its markets in the second quarter of 2020.
The firm nearly tripled food delivery net revenues year-on-year in the third quarter of 2020, largely by supporting small businesses,it said on Monday.
Grab brought nearly 600,000 new merchants across South-east Asia onto its platform last year, more than doubling the numbers.
THE BUSINESS TIMES
OCBC
The bank will again lower interest rates on its flagship savings account - the fourth revision since May last year.
Balances up to $25,000 in the OCBC 360 account will earn 0.3 per cent in salary credit bonus interest from Feb 1, down from the prevailing 0.4 per cent established last October. Balances between $25,000 and $50,000 will earn 0.6 per cent - down from 0.8 per cent - while those between $50,000 and $75,000 will stay at 1.2 per cent. The bank said it will make adjustments "if and when the interest rate situation improves".
THE BUSINESS TIMES
Mitsubishi Corporation
The company is joining Israel's Aleph Farms to bring lab-grown beef to Japan.
The firms will tailor Aleph's beef - grown in vats from muscle cells of living animals - to fit Japanese tastes and comply with regulations. They will then use Mitsubishi manufacturing facilities to scale up production and distribution.
Aleph plans to sell its initial batch of lab-grown meat to consumers in Asia next year, with Japan being "high on the list" of target countries.
BLOOMBERG
