Rising home prices, coupled with conservative borrowing, have today's homeowners sitting on a record amount of potential cash. Today's mortgage holders saw their home equity...Real Estateread more
SoftBank wants to push Neumann out of the CEO role ahead of the IPO.Technologyread more
The Mac Pro is the only major Apple computer to be assembled in the United States. Most of Apple's products, including the iPhone, are assembled in China and are facing tariff...Technologyread more
CNBC's Jim Cramer calls on investors to be wary of the slew of the hyped-up unicorn companies going public this year and encourages the focus to be on deliverable earnings.Investingread more
Markets have been betting Trump's Twitter attacks on the Fed will move rates. Among other things, Trump has called Chairman Jerome Powell "clueless" and Fed officials as a...The Fedread more
Trump's call with the foreign leader is reportedly the subject of a whistleblower's complaint that has spurred new accusations of wrongdoing from Democrats.Politicsread more
Harvard economist N. Gregory Mankiw says ultra-wealthy couples could split their fortunes in half through divorce and avoid paying a wealth tax proposed by presidential...Wealthread more
The U.S. Securities and Exchange Commission settled charges Monday against former Nissan CEO Carlos Ghosn and its former director Greg Kelly on Monday over false financial...Autosread more
These are the stocks posting the largest moves midday.Market Insiderread more
* Will expand transport, food, payments networks in Vietnam
* Investment a reflection of Grab's commitment to Vietnam - exec
* Last month, Grab unveiled $2 billion plan in Indonesia (Adds details, background)
HANOI, Aug 28 (Reuters) - Ride-hailing firm Grab said on Wednesday it will invest $500 million in Vietnam over the next five years to expand its services in the Southeast Asian country.
The company will expand its transport, food and payments networks in the country, Grab said in a statement.
"This investment is a reflection of our redoubled commitment to Vietnam," Russell Cohen, head of Grab's regional operations, was quoted as saying in the statement.
"The country's rapidly developing economy and emerging middle class population makes it ripe for the adoption of digital services," he said.
Reuters first reported news of the Vietnam investment earlier this week. Grab President Ming Maa told Reuters in an interview that "we're very excited about Vietnam. We see very similar characteristics to Indonesia."
Last month, Grab unveiled a plan to invest $2 billion in Indonesia, the region's most populous market, where it aims to build a next-generation transport network and transform how critical services such as healthcare are delivered.
Its decision for additional investment in Vietnam comes as the ride-hailing market in the country becomes more competitive with the participation of Indonesia's Go-Jek and Vietnam's Be.
"Competition in ride-hailing will become fiercer," said Ho Chi Minh-based economist Bui Quang Tin. "The size of the investment means Grab will be able offer heavy discounts even if it risks losses in short term," he added. (Reporting by Khanh Vu and Phuong Nguyen; Editing by Himani Sarkar)