Business World

China has fined ride-hailing giant Didi $1.2 billion for breaking cyber security laws

China has fined ride-hailing giant Didi 8.026 billion yuan approximately US $1.2 billion for breaking its cyber security laws. On Thursday, the Cyberspace Administration of China (CAC) said that it had found “conclusive evidence” against the company. The regulator announced that it had started an investigation into Didi just days after the firm launched its […]


Chinese ride-hailing giant Didi pauses plan to enter UK and European markets

Chinese ride-hailing giant Didi has halted plans to launch in the UK and continental Europe. The Uber rival had been planning to roll out services in Western Europe, including major British cities. Didi is in consultation with the team working on the project on reassigning new roles or potential redundancies. The move comes as Chinese […]


Chinese ride-hailing giant Didi debuts on New York Stock Exchange with $68 billion valuation

Chinese ride-hailing giant Didi Global ended its first day on the New York Stock Exchange with a valuation of $68.49 billion. That is even as its shares closed just 1% higher than their $14 offering price after slipping back from earlier strong gains. It was the biggest listing in the US by a Chinese company […]