Ride-hailing firm Uber Technologies has agreed to sell its Southeast Asian business to the region’s bigger rival Grab, a source with direct knowledge of the matter said on Sunday March 25, in what would be the US company’s second retreat from Asia.  A multi-billion dollar investment in Uber earlier this year by Japan’s SoftBank Group, already one of Grab’s main investors, had stoked expectations that Uber would consolidate its Southeast Asian business with Grab. In 2016 Uber sells Chinese business to Didi Chuxing in exchange for a 20 percent stake in the merged operation, Uber China launched in 2014 but failed to make any profit.