Bloomberg China Literature Ltd., the online reading unit helping Tencent Holdings Ltd. build an entertainment empire, raised $1.1 billion alongside existing investors in its Hong Kong initial public offering, according to people with knowledge of the matter. The first-time share sale priced at the very top of a marketed range, the people said, asking not to be identified because the …
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Bloomberg SouChe.com, a Chinese car trading site, raised $335 million in a funding round led by Alibaba Group Holding Ltd. as it expands in auto-financing and prepares for a potential US IPO. Alibaba will become the biggest backer of the site and integrate parts of the business with its own e-commerce services. Warburg Pincus, Primavera Capital and CMB International also …
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Bloomberg The UK signalled it’s preparing to compromise over money in its stand-off with the EU, as a new round of Brexit talks offered the chance to break the deadlock. The deal on the divorce terms will probably be better for the remaining 27 EU countries than for Britain on the financial settlement, Brexit Secretary David Davis said. The first …
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Bloomberg Best Buy Co. said it stopped some sales of Apple Inc.’s iPhone X and iPhone 8 after consumers complained about the retailer charging a $100 premium on the already expensive smartphones. The company, one of Apple’s key retail partners, still sells all iPhone models via carrier installment plans that let customers pay for the devices over several months. The …
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Bloomberg Facebook Inc., Google and Twitter Inc.— technology powerhouses actively cultivating their influence in Washington—received an unaccustomed grilling and even ridicule in their first appearance before Congress over Russian meddling in last year’s presidential campaign. Two hearings on Wednesday might bring more of the same for top attorneys from the companies, who were forced to acknowledge to a Senate Judiciary …
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Bloomberg The European Union’s chief Brexit negotiator said he’s ready to intensify the pace of talks with the UK, as the window of opportunity to begin trade talks this year is closing. “I’m ready to speed up negotiations,†Michel Barnier told reporters in the Slovak capital Bratislava on Tuesday. “We have proposed three dates, three weeks of new rounds of …
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ABU DHABI / WAM With the approval and blessings of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, the new ministers of the UAE government took the oath on Tuesday before His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, at Mushrif Palace in Abu Dhabi, in the presence …
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DUBAI / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has directed the Knowledge and Human Development Authority (KHDA), to draft a plan to increase percentage of Emirati students admission in private schools, which are rated good and above 100 percent, over the next three years. His remarks …
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Dubai / Emirates Business His Highness Sheikh Mansour bin Mohammed bin Rashid Al Maktoum, on Tuesday opened Gulfood Manufacturing 2017, the fourth edition of the Middle East’s largest ingredients, processing, packaging, and logistics exhibition at the Dubai World Trade Centre (DWTC). Touring the 80,000 square metre show, which runs for three days and is expected to attract tens of thousands …
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Dubai / WAM The World Bank’s Ease of Doing Business 2018 report revealed on Tuesday that the UAE is ranked 21st globally and is ranked top of Arab countries for the fifth year in a row. The report showed that the UAE has ranked in the top ten globally in five of the reports ten topics. The UAE is first …
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