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Venture fundraising soars
HONG KONG: China-focused venture capital funds are increasing their bets on local technology companies and a further opening of Chinese domestic capital markets, raising money in the yuan at the fastest pace in five years. Fund managers have raised 95.8 billion yuan ($14.54 billion) this year through late September in funds denominated in the Chinese currency, which is also known as the renminbi, compared with 56.7 billion yuan
Houston housing investors see profit in Harvey’s wake
HOUSTON: Addressing a real estate conference in flood-ravaged Houston this month, longtime investor Ray Sasser detailed his strategy: buy up to 50 flooded homes at deep discounts, then fix and flip them for a hefty profit. Sasser first followed that game plan after Tropical Storm Allison flooded the city in 2001. He bought homes for 30 to 40 per cent of their pre-storm value, spent another 15 per cent on repairs, and sold many a
Iron ore’s recent reversal likely the start of longer slide
LAUNCESTON: Iron ore prices are in retreat as the market starts to factor in realities that it has previously been happy to ignore in the euphoria of a strong rally. As always when prices start to decline after a surge that appeared unrelated to supply-demand fundamentals, the question is will the reverse become a rout and where exactly does fair value lie? It’s worth noting that the current slump was led by iron ore futures
Software startup Zenefits changes course under new CEO
SAN FRANCISCO: Zenefits, a startup that has faced hefty regulatory penalties on its insurance brokerage, said on Thursday that it will exit that business and instead provide software to brokers. This marks the latest attempt by Zenefits to regain its footing after it was found to have flouted state insurance laws and lacked proper controls. In a change of course, San Francisco-based Zenefits said it will no longer aim to
Adecco targets faster growth as global economy recovers
ZURICH: Adecco Group is investing in digital technology to make it more attractive to employers seeking flexible workers, the world’s largest staffing company said on Friday, as it targets faster growth as the global economy recovers. The Swiss company said it wanted to grow four times faster than global GDP by 2020, up from a previous goal of three times. It also unveiled a raft of cost savings and digital investments ahead of
Library gets book back after 78 years
ATTLEBORO: It took nearly 80 years, but a book borrowed during the Gre..
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21 dead as migrant boat sinks off Turkey's Black Sea coast
Istanbul: Twenty-one people drowned and up to 15 more were missing on ..
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All are equal before law, say Dubai Police
DUBAI: Dubai Police arrested a British national on Sept. 10 for an off..
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Russia unveils controversial Joseph Stalin bust
MOSCOW: A bronze bust of Joseph Stalin was unveiled in Moscow on Frida..
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French president enacts contested labour reforms
PARIS: President Emmanuel Macron on Friday signed sweeping changes to ..
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UAE Rulers greet Saudi King on National Day
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Dubai Abulhoul hosts knowledge-sharing session for ZU students
Dubai: As part of the “Qudwa” initiative, Dubai Women Establishment (D..
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LPG blast damages flats
Sharjah: An Asian in his 50s sustained medium injuries when a cooking ..
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Mohamed Bin Zayed offers condolences on death of Fatima
AL AIN: His Highness Sheikh Mohamed Bin Zayed Al Nahyan, Crown Prince ..
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India using chilli sprays on Rohingya refugees: Officials
NEW DELHI: India has stepped up security along its largely porous east..
Added : 10 hours ago
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