Didi completes over $5.5 bln financing round

Didi has sought to expand overseas with an investment into taxi-booking app Grab last year following closely on the heels of a tie-up with Lyft

Didi has sought to expand overseas with an investment into taxi-booking app Grab last year following closely on the heels of a tie-up with Lyft

The company would raise USA $5 billion in the new financing agreement, the report said, quoting people familiar with the deal.

The new funds will be used to promote the company's global expansion strategy and investment in the field of cutting-edge technologies.

The last valuation for Didi was $34 billion in August when it agreed to acquire Uber Technology Inc's China business following a drawn-out rivalry between the two firms.

Didi, which drove Uber Technologies Inc. out of China previous year, is already one of the country's best-funded private companies: its backers range from powerful state agencies to global venture firms and WeChat-operator Tencent Holdings Ltd.

Texas House to vote on sanctuary cities bill
Eddie Lucio III , a Brownsville Democrat, that got the blessing of the Senate Bill 4's House sponsor, Fort Worth Republican Rep. The state Senate's version is still different enough from the House's that the two chambers must compromise on a finished bill.

It also propels Didi well above Xiaomi Inc, which held the title of China's most valuable startup after a 2014 funding round valued the smartphone maker at $46 billion.

Softbank, Silver Lake, China Merchants Bank and an arm of Bank of Communications are believed to be among the investors behind the latest injection of funds. Formerly called Didi Kuaidi, the business provides ride-hailing services to about 400 million people across 400 cities in China.

China legalised ride-hailing services in July a year ago and is the world's largest car-hailing market, fuelled by hundreds of millions of mobile-savvy Chinese millennials.

Didi Chuxing is based out of Beijing. And just under a year ago, Apple invested $1 billion in Didi.

Baahubali 2 new posters: Amarendra Baahubali, Devasena look majestic
Even if you assume the film releases across 6,500 screens, the first-day collections could well be to the tune of Rs 60 crore. To put things into perspective, the biggest Hindi films release in 4,500-5,000 screens at best (dubbed versions included).

With the launch of Didi Labs in Mountain View, California earlier this year, the company aims to attract more talent and explore new investment opportunities.

Part of the latest investment will be used for Didi's worldwide expansion, the people said. Didi wants to take advantage of data on 400 million users across some 400 cities to aid research into AI and autonomous vehicles.

Bloomberg says this is the biggest ever funding round for a tech business and values Didi at $40 billion.

IMF foresees global economy accelerating to 3.5 pct. in '17
The estimates on Romania's current account deficit haven't changed, and remained at 2.8% of the GDP this year. It furthermore predicts a slight increase in South Africa's unemployment rate next year.

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