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Bloomberg Didi Chuxing has scored another investment from SoftBank Group Corp. in a massive funding round that will bankroll the Chinese ride-hailing leader’s exploration of new markets and technologies. Didi said it’s secured new financing of more than $4 billion. That pushed its valuation to about $56 billion and lifts cash reserves to $12 billion, people familiar with the matter ...

Bloomberg Alipay is chasing Chinese tourists to Japan, where it’s signing up a growing number of retailers and eyeing the long-term potential of the nation’s $45 billion digital payments market. The volume of payments processed on Alipay in the country swelled about eight times in the 12 months to September, said Genki Oka, Japan chief executive officer of Ant Financial, ...

Bloomberg The United Nations Security Council unanimously approved new sanctions targeting North Korea’s economy following the launch of a ballistic missile last month that Kim Jong Un’s regime said shows it can now target the entire continental US. A week after US Secretary of State Rex Tillerson called out Russia and China for their support of Kim Jong Un’s regime, ...

DUBAI / Emirates Business Emirates on Wednesday announced that it is to launch a new daily route from Dubai (DXB) to London Stansted (STN) on June 8, 2018. With its strategic position close to the tech and pharma hubs of Cambridge and Peterborough, Emirates will be the first Middle Eastern airline to operate out of the popular North East London ...

DUBAI / WAM Emirates NBD on Wednesday announced that it has been named The Banker’s ‘Bank of the Year – UAE 2017’ for the third year in a row. In a news report announcing the 2017 winners, The Banker stated that the bank “impressed the judges with its strong digital focus, as well as the way it has continued to ...

Abu Dhabi / WAM Under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the next edition of the Abu Dhabi Sustainability Week (ADSW), will focus on ‘Driving the Global Energy Transformation’. ADSW will take place from January 13-20 at the Abu Dhabi National ...

Dubai / Emirates Business HotelsCombined.com, the world’s leading hotel price comparison website reveals on Wednesday that Dubai continues to be the top favorite destination among GCC travelers during the festive season, followed by Abu Dhabi and Al Medina, Saudi Arabia. On the international level, London maintains its position as the most popular destination followed by Istanbul and Paris, according to ...

Bloomberg Senate Republicans passed the most extensive rewrite of the US tax code in more than 30 years, a bill that delivers a deep, permanent tax cut for corporations and shorter-term relief for individuals. The chamber’s 51-48 party line vote on Wednesday in Washington brought President Donald Trump to the brink of his first major legislative victory. The bill—which has ...

Bloomberg PM Theresa May is sticking to her guns and pushing for a made-to-order trade deal with the EU—despite the bloc’s insistence such a scenario is out of the question. May presided over a discussion with her Cabinet to flesh out her vision of an end state, aiming for a “significantly more ambitious deal” than that between the EU and ...

Bloomberg Toys ‘R’ Us Inc.’s British unit, which is at risk of collapse, faces questions from lawmakers about a reported surge in payments to its former managing director. The loss-making British arm of the US toy retailer boosted Roger McLaughlan’s pay to 1.3 million pounds ($1.7 million) in the year ended on January 30, 2016, from 1 million pounds and ...