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Can Uber Survive as Co-Founder Kalanick is Driven Out?

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San Francisco-based Uber Technologies has revolutionized the ride-hailing app industry, spawning copycats in markets such as Singapore, China, and the Middle East. In addition, Uber attracted capital from all sorts of entities, including sovereign funds.

Uber (Beijing Website) – Screenshot taken on August 8, 2015

Uber had propelled itself to a US$ 70 billion unicorn, attracting Saudi money and operating in more than 70 country markets. Uber is one of the largest private companies in the world. Uber’s aggressive approach to business had led it to dominant many markets and creating many enemies, especially in the world of traditional taxis.

Uber Co-Founder Travis Kalanick issued a letter of resignation on June 20th, after the company found itself with continual headwinds stemming from employee harassment claims, corporate misbehaviors reported and what many in the U.S. media dub as an “aggressive” workplace culture. Kalanick had taken an indefinite leave of absence in June 2017.

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Kuala Lumpur to Singapore Highway Delayed

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The Malaysian government under Prime Minister Mahathir bin Mohamad has been reprioritizing its large-scale infrastructure developments. The highly anticipated railway from Kuala Lumpur to Singapore has been delayed by another five years. The governments of Malaysia and Singapore signed a formal agreement on September 5, 2018. The previous ruling party in Malaysia had set the railway in motion, but the current administration is seeking time for further review. A joint statement suggested that the railway was still a certainty.

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Former FSDEA Chairman Arrested in Angola

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Jose Filomeno de Sousa dos Santos, the son of Angola’s former president and former chairman of the country’s sovereign wealth fund, has been placed under arrest, according to the state prosecutor’s office. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Keppel Land China Acquires Stake in Nanjing Jinsheng Real Estate Development

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On September 20, 2018, Keppel Land China, a subsidiary of Singapore-based Keppel Corporation, purchased a 40% stake in Nanjing Jinsheng Real Estate Development Co, a subsidiary of Gemdale Corporation. Keppel Land China did the deal through an entity called Eternal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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