Southeast Asian ride-hailing firm Grab to invest $700 million in Indonesia

Southeast Asian ride-hailing firm Grab on Thursday said it will invest $700 million to expand in Indonesia over the next four years, marking its biggest-ever investment in any country. Grab's push in what has become its largest market is set to intensify the competition among ride-hailing firms in Indonesia. Grab's rivals in the country include U.S. firm Uber Technologies Inc [UBER.UL] and home-grown app Go-Jek.

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