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inDrive has launched a ventures and M&A arm to invest up to $100m in emerging-market startups, led by Andries Smit as VP of New Ventures.

Brazil’s Bovespa fell 13.9% on Monday, October 26, in one of its sharpest one-day declines on record, while the real tumbled over 11% intraday before trimming losses to about 8%, after Luiz Inácio Lula da Silva clinched a surprise runoff win for a fourth presidential term.

The Jakarta Composite fell 11.57 per cent, its heaviest one-day drop since 1998, after MSCI said Indonesia could no longer be classed an emerging market and proposed standalone status that would push it out of global benchmark indexes.

Nigeria-founded fintech Yellow Card has launched in Canada weeks after closing a $40 million funding round, as it pivots from consumer crypto trading to business-to-business stablecoin payments across emerging markets.