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The Singapore-based startup will merge with a SPAC backed by Altimeter Capital in a deal that would pave the way for a New York listing and value Grab at about $39.6 billion. CNN's Clare Sebastian explains what the ride-hailing giant is all about.

Egyptian authorities have seized the massive Ever Given cargo ship that blocked the Suez Canal for six days in March until a $900m compensation bill is paid, state-run Al Ahram news outlet said. The Japanese owning company, Shoei Kisen Kaisha, said that insurance companies and lawyers are cu…