Telenor misses Q2 forecast

OSLO: Norwegian telecoms operator Telenor posted second-quarter results that slightly lagged forecasts on Tuesday, but the company reiterated its outlook and its focus on operational efficiency in its core markets.

The company, which exited Eastern Europe and India and now focuses on Scandinavia, Southeast Asia, Pakistan and Bangladesh, reported operational spending savings of close to 1 billion crowns ($123.7 million) so far this year.

“We continue to execute on simplification and increasing efficiency,” Chief Executive Officer Sigve Brekke said in a statement.

The firm’s quarterly profit before interest, tax, depreciation, amortisation and other items, or adjusted EBITDA, fell to 11.3 billion crowns from 11.6bn a year ago.

Didi, Booking.com in for $500m investment

BEIJING: Chinese ride-sharing giant Didi Chuxing landed a $500 million investment from Booking Holdings, owner of Booking.com and similar sites, in a tie-up that will see the companies offer their services on each other’s platforms, they said on Tuesday.

The deal comes as Didi — China’s version of Uber — fights off upstart rivals at home while taking on Uber overseas. The partnership will allow users of Booking’s online travel brands — including Kayak, Priceline, and Agoda — to hail cars while Didi customers will be able to book hotel stays and other services through those platforms. –AFP

Published in Dawn, July 18th, 2018