Asia news roundup: Ola and Uber drivers strike, Go-Jek offers micro-loans, and more

Photo credit: Go-Jek

Go-Jek goes into lending, AirAsia considers a token sale, and big dealmaking afoot in India’s ecommerce space. Here are the top headlines at the end of this week.

Transportation

Go-Jek responds to Grab with its own microloans scheme (Indonesia). The ride-hailing giant’s payments unit Go-Pay has partnered with state-owned Bank Negara Indonesia (BNI) to provide drivers and small businesses with access to BNI’s microcredit program. Go-Jek’s move into lending comes at about the same time that key regional rival Grab launched Grab Financial, its new lending and insurance platform. (The Jakarta Post)

AirAsia could be the next big-name ICO (Malaysia). A day after launching AirAsia’s new mobile wallet BigPay, the budget airline’s founder and CEO Tony Fernandes said that it’s considering a token sale to raise capital. Fernandes suggested that the company’s BigPoints loyalty scheme could be at the center of any future ICO. “I think those BigPoints can be easily transferred to the blockchain,” he said. (TechCrunch)

Ola and Uber drivers to hold nationwide strike next Monday (India). Taxi drivers using the ride-hailing apps say they will go on strike on March 19 in protest against what they see as falling incomes, overbearing regulation, and excessive working hours. The one-day industrial action is expected to hit the country’s biggest cities, including Delhi, Mumbai, Bangalore, and Gurugram, among others. (Inc42)

Taxi firm Meru Cabs adopts marketplace model and surge pricing in face of ride-hailing competition (India). The company will allow its enrolled drivers to offer dynamic fares in an effort to reclaim market share from the likes of Ola and Uber. Like most taxi firms, Meru Cabs charges passengers government-regulated rates, but said that since typical Ola and Uber fares are now matching these rates, it can begin to use surge pricing like its ride-hailing rivals. Meru Cabs said it will launch the marketplace model in Delhi initially, before rolling it out to other cities next month. (The Economic Times)

Ecommerce

Photo credit: Mike Mozart

Walmart could spend US$7 billion to acquire Flipkart stake (India). The US retail behemoth is said to be close to sealing a US$7 billion deal to obtain around a third of Indian ecommerce giant Flipkart, bringing it into closer competition with Amazon in the country. Walmart will reportedly buy some shares from SoftBank and New York-based Tiger Global, which may help the latter pair in their bid for a piece of online grocer Grofers (see below). (Bloomberg)

SoftBank and others to pump US$61.6 million into Grofers (India). The deal would take SoftBank’s stake in online grocery startup Grofers to as much as 40 percent. Existing investor Tiger Global is also said to be returning for this latest round, along with Russian billionaire Yuri Milner. (The Times of India)

Media and entertainment

Virtuos raises US$15 million for Lion City move (China/Singapore). The computer game production company secured investment in a round led by 3D Capital Partners. Previously headquartered in Shanghai, Virtuos will set up a new headquarters in Singapore, along with an R&D center – in partnership with the city-state’s Economic Development Board – that it says will create 100 new jobs. (DealStreetAsia)

Blockchain and cryptocurrencies

Huobi partners with US incubator after Japan deal falls through (China). The cryptocurrency exchange’s incubator arm, Huobi Labs, has announced a partnership with Washington, DC-based DigitalX100. The two will work together to accelerate blockchain startups. The deal comes a week after Japanese financial services giant SBI Group pulled out of a planned partnership with Huobi to launch two cryptocurrency exchanges in Japan. SBI said it had decided to build its own system with “robust security and sufficient processing capacity” instead. (China Money Network)

Robotics and drones

Tencent launches new robotics research lab (China). Along with the company’s earlier-established AI Lab, Robotics X will lead R&D efforts in the three areas Tencent has identified as startegic priroties: robotics, AI, and healthcare-relevant AI. The lab will be based in Tencent’s home city of Shenzhen. (Technode)

See: Previous Asia tech news roundups