Grab, which is based in Singapore, plans to use the money to add more services to its app. It also plans to invest in Indonesia, where it's competing aggressively against its smaller rival GoJek.
The latest funding values Grab at about $14 billion, according to a person familiar with the company. That's up from a valuation of $11 billion last year.
Softbank's (SFTBF) $100 billion Vision Fund is already a significant investor in Grab and other major ride-hailing companies such as Uber. Led by SoftBank founder and CEO, Masa Son, the Saudi-backed fund has become a key player in the global tech industry, pouring big sums into startups like WeWork.
2. Huawei drama: The conflict between Huawei and the United States will be back in focus on Wednesday, as the Chinese company's chief financial officer, Meng Wanzhou, is due back in court in Vancouver.
The executive, who is the daughter of Huawei founder Ren Zhengfei, was arrested in Canada in December at the request of the United States. US prosecutors want her to stand trial in New York. On Friday, Canada cleared the way for her extradition hearing.
Meanwhile, two cases against Huawei are unfolding in US federal court. Huawei pleaded not guilty in Seattle last week to charges that it tried to steal trade secrets from T-Mobile (TMUS). The company's arraignment in Brooklyn on charges that it worked to skirt US sanctions on Iran is scheduled for later this month. Meng has also been charged in that case. She and Huawei have denied the charges.
Investors are watching closely because the legal cases could become a big factor in trade talks between the United States and China. President Donald Trump has suggested that he could consider intervening in Meng's case if it would help his administration's discussions with China.
3. Ghosn out of jail: Carlos Ghosn has left a Tokyo jail after spending more than three months in detention on allegations of financial misconduct.
Ghosn, the former head of Nissan (NSANF) and Renault (RNLSY), walked out of a detention center after posting bail of 1 billion yen ($9 million).
His bail conditions require him to stay in Japan and be closely monitored. An appeal by prosecutors against the decision to let him out was rejected late Tuesday.
The auto executive is awaiting trial on charges he understated his income and abused his position by temporarily transferring personal investment losses to the Japanese carmaker.
Ghosn denies all the charges. If found guilty, he could face as many as 15 years in prison.
4. Global market overview: US stock futures were pointing lower. European markets opened mixed, following the trend set in Asia.
5. Earnings and economics: Abercrombie & Fitch (ANF) and Dollar Tree (DLTR) will release earnings before the open.
A report on crude inventories from the US Energy Information Administration will be released at 10:30 a.m. ET.
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