Beijing / AFP Chinese ride-hailing app Didi Chuxing, a bitter rival of US-based Uber, has raised $7.3 billion in one of the world’s largest private equity financing rounds, the company said on Thursday. Didi is locked in a war of attrition with Uber over drivers and riders but claims almost 90 percent of the market in the world’s most ...

  Colombo / AFP Sri Lanka’s cabinet approved the introduction of a capital gains tax for the first time in 14 years, as the island battles a revenue crisis that has forced an IMF bailout. Prime Minister Ranil Wickremesinghe’s tax plans come after the International Monetary Fund (IMF) this month released the first tranche of a $1.5 billion loan in ...

  Tokyo/ Bloomberg Toshiba Corp., the world’s biggest supplier of turbines used to produce electricity from the heat trapped underground, will expand its geothermal power business into operation and maintenance services as it aims to extend its lead in a global market dominated by a handful of competitors. “We are just doing turbines now but we want to take full ...