MANILA — Philippine fast-food giant Jollibee Foods said Friday it will spend 7 billion pesos ($138 million) to build discreet “cloud kitchens” and a stronger delivery service as part of a global restructuring plan. Struggling to offset the impact of the coronavirus pandemic, Jollibee said the “cloud kitchens” or unmarked delivery outlets, would […]
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Thai hotelier Minor to raise $784m to offset coronavirus damage
BANGKOK — Thailand-based hotelier Minor International will raise a total of 25 billion baht ($784 million) to rebuild its finances as it prepares to resume innkeeping once the coronavirus pandemic subsides. The fundraising is expected to take place through 2023, the company said in a statement. Around 10 billion baht […]
Resilient Tencent set to offset game slowdown with e-payment revival
NEW YORK — Tencent Holdings is finding that its diversification push over the years is bearing fruit, as multiple channels of revenue give it stability amid turbulence that others can only envy. The tech giant, one of China’s most valuable, recorded a 26% year-on-year revenue jump during the January-March period, outpacing growth in both […]