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Bloomberg JD.com Inc’s shares soared as much as 10.5% after the e-commerce giant reported revenue that beat estimates, defying a crackdown on the Chinese internet sector that has depressed growth across the industry. The e-commerce giant’s shares gained by the most in almost a month in Hong Kong after it posted a better-than-expected 26% rise in revenue to 253.8 billion ...

Bloomberg Indian fintech startup Khatabook raised $100 million, seeking to expand its offerings beyond bookkeeping for merchants as smartphones win over users in the world’s second-most populous country. The round led by US venture capital firms Moore Strategic Ventures and Tribe Capital valued Khatabook at close to $600 million, the company said in an emailed statement. Alkeon Capital, Tencent Holdings ...

Bloomberg The Meishan terminal at China’s second-busiest port reopened following a two-week shutdown that further snarled already stressed shipping routes in Asia. The terminal was expected to start the resumption of normal operations on Wednesday, a port official said at a press conference in the city of Ningbo. The terminal was about a quarter of the Ningbo-Zhoushan port’s capacity and ...

Bloomberg Malaysia Prime Minister Ismail Sabri Yaakob’s meeting with opposition leaders on Wednesday left Anwar Ibrahim positive about working with the new government to heal the nation that’s seen change of three administrations since 2018. The meeting, which lasted over an hour at the premier’s office, was focused on finding common ground to best handle the Covid crisis, save lives ...

Bloomberg Prime Minister Justin Trudeau promised to introduce a two-year ban on foreign home buyers to tackle housing affordability in Canada if he’s re-elected. The proposed restriction is an attempt to cool a housing market that has soared during the Covid-19 pandemic. Surging prices have become a central issue in the campaign for the September 20 vote, in which Trudeau ...

Bloomberg German businesses are growing increasingly concerned that a global supply squeeze and rising infections will damp the economic recovery. A gauge by the Munich-based Ifo Institute falls to 99.4 in August from 100.7 in July, more than economists predicted in a Bloomberg survey. An index measuring expectations also falls, while current conditions were judged more favourably. Strong consumer spending ...

Bloomberg Britain’s construction, manufacturing and food preparation industries are pushing wages higher across the economy due to a shortage of workers to fill available jobs. Building companies increased advertised pay by 6.7% from February to July 2021 to draw more workers into the industry, according to data from jobs site Indeed. That compares with wage growth of just 0.8% across ...

Dubai / WAM The world needs greater unity and collaboration and must share innovations and expertise if humankind is to tackle its most pressing challenges, according to an overwhelming majority of respondents in a global study by Expo 2020 Dubai. Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation and Director General of Expo 2020 Dubai, said: “As ...

Dubai / WAM The UAE’s most extensive food aid campaign distributed 106 million meals out of the targeted 216 million to underprivileged families and individuals in just four months. The 100 Million Meals campaign, the largest of its kind in the region, operates across 30 countries in the Middle East, Africa, Asia, Europe, and South America. The next phase of ...

DUBAI / WAM The Department of Planning and Development (Trakhees), the regulatory arm of Ports, Customs and Free Zone Corporation (PCFC) in Dubai, implemented more than 5,300 inspection campaigns within the residential communities in their development zones during the first half of 2021, which resulted in reporting and issuing 550 violations. Abdullah Belhoul, CEO of Trakhees, said that the Civil ...