Chinese ride-hailing giant Didi reports record transaction value for June quarter

Chinese ride-hailing giant Didi reports record transaction value for June quarter

Chinese ride-hailing giant Didi Global on Wednesday said that both order volume and transaction value reached record highs during the three months through June. Orders in both China and overseas markets rose 17.4 per cent to nearly 3.9 billion, while gross transaction value (GTV) reached 96.3 billion yuan (US$13.5 billion), up 14.7 per cent from … Read more

What Is the New Texas Stock Exchange (TXSE): Location and Everything You Need To Know

What Is the New Texas Stock Exchange (TXSE): Location and Everything You Need To Know

A new stock exchange in Dallas, Texas, is set to begin securities trading next year, with plans to start listing companies by 2026. The Texas Stock Exchange (TXSE) Group has secured $120 million in funding from over two dozen investors, including Larry Fink’s Blackrock and Kenneth Griffin’s Citadel, making it “the most well-capitalised exchange entrant … Read more

Texas Stock Exchange looks to challenge NYSE, Nasdaq

Texas Stock Exchange looks to challenge NYSE, Nasdaq

Wall Street titans BlackRock and Citadel Securities are throwing their financial muscle behind the launch of the Texas Stock Exchange — which plans to challenge New York-centric markets in a bid to attract global companies. The Dallas-headquartered bourse, which has raised about $120 million, plans to file registration documents with the Securities and Exchange Commission to … Read more

Alibaba’s US$4.5 billion convertible bond sale ‘oversubscribed’, as tech giant builds war chest to fund share buy-backs

Alibaba’s US.5 billion convertible bond sale ‘oversubscribed’, as tech giant builds war chest to fund share buy-backs

Alibaba Group Holding is selling up to US$5 billion worth of convertible bonds to fund its share buy-backs, as leaders of the Chinese tech giant declared e-commerce and cloud computing as its core businesses in a move “towards strategic clarity”. The Hangzhou-based firm, which owns the South China Morning Post, said it expects to raise … Read more

HNI investors in offshore ‘blank cheque’ companies receive income tax notices

HNI investors in offshore ‘blank cheque’ companies receive income tax notices

Well-heeled Indians betting on ‘blank cheque’ firms — the Wall Street term for special purpose acquisition companies or SPACs — have started receiving notices from the tax department. On the back of a raft of information shared by Bermuda, which like Cayman Islands, is a preferred jurisdiction for incorporating SPACs, the Income Tax (I-T) department … Read more