EXPLAINED: 2 - The Real Truth

Ride-sharing apps rise in Venezuela as public transit decays

Ride-sharing apps like Uber, DiDi and Lyft may have driven across much of the globe, but they haven’t yet rolled into Venezuela

The Independent UK · Jul 30, 2022

SolarMax Banks on Sunny Name to Draw Investors to Its IPO

Key Takeaways: Solar power systems developer SolarMax is aiming to raise $30 million in a New York listing, but investors could balk at the company’s lack of diversity The IPO marks the latest signal that Chinese listings could soon gain momentum in New York after a yearlong near-halt due to…

Benzinga · Jul 26, 2022

Didi Slapped With Hefty $1.2 Billion Fine. How Was the Amount Determined?

Key Takeaways: China’s cybersecurity regulator imposed a big fine of $1.2 billion on Didi after closing a year-long investigation into the company, but how it arrived at the amount has raised concern in the market

Benzinga · Jul 26, 2022

China investors call it quits as Xi, ‘zero COVID’ sap confidence

Overseas investors shed a record $150bn in yuan-denominated assets in the first quarter of this year.

Al Jazeera · Jul 21, 2022

Chinese Mortgage Boycott Gains Steam

Homebuyers’ threats to stop payments on unfinished projects could deepen an ongoing real estate crisis.

Foreign Policy · Jul 20, 2022

China to fine ride-hailing giant Didi more than $1bn

BEIJING: China is preparing to hit ride-hailing giant Didi with a fine of more than US$1 billion to wrap up a long-running probe, media reports said, boosting investor hopes that the country's tech crackdown is winding down.

Bangkok Post · Jul 20, 2022

Chinese Ride-Hailing Giant Didi Bids Goodbye to NYSE

The company’s stock closed 84% down from its IPO price on Friday before its trading moves to the over-the-counter market

Caixin Global · Jun 13, 2022

Morning Brief: Top Financial Stories Dominating on Wednesday, June 8

CNBC

Benzinga · Jun 8, 2022

DiDi Discusses Stake Acquisition In Sinomach Automobile's EV Division For $150M

DiDi Global Inc (NYSE:DIDI) discussed acquiring a third of the EV unit of state-backed Sinomach Automobile, Reuters reports. Recent reports suggested possible ease in the regulatory crackdown on the ride-hailing company. Didi was amid advanced discussions to acquire shares in small-sized automaker Sinomach Zhijun Automobile from minority shareholders, costing over 1 billion yuan…

Benzinga · Jun 8, 2022

China Approves 60 New Games

China has approved the release of dozens of new video games, boosting the shares of some of its biggest tech firms Wednesday on hopes that a long-running and painful crackdown on the sector is easing. The announcement follows a report in The Wall Street Journal on Monday that said regulators…

Asharq Al-Awsat · Jun 8, 2022