Sino-French private equity firm Cathay Capital Private Equity has led an undisclosed investment in French web localization and marketing firm Datawords, according to a company announcement. Keensight Capital, Cathay Capital's key backer, French investment firm Bpifrance, as well as existing investor French investment firm Capzanine, also participated in the round. Datawords generated over €30 million […]

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Alibaba Group Holding Limited is investing US$1 billion to accelerate the global roll out of its cloud-computing business, according to its corporate news website Alizila. The investment underscores the importance Alibaba gives to cloud computing as a future revenue driver. "Big Data and cloud computing are at the heart of Alibaba Group’s strategy for the […]

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Tempe, Arizona-based automotive material maker SDC Materials, Inc. has completed an undisclosed round of new financing led by SAIC Capital, the venture capital investment arm of Chinese car maker SAIC Motor Corporation, according to a company announcement. Existing investors, including General Motors Ventures, BASF Venture Capital, Volvo Group Venture Capital, Invus Financial Advisors and Emerald […]

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Shenzhen-based smart cycling helmet maker Livall Riding has completed RMB80 million (US$13 million) series A financing led by ChinaEquity Group, according to Chinese media reports. The company also says it has signed an agreement to partner with a Chinese bicycle maker to create a smart bicycle. The company previously raised RMB20 million angel investment from […]

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Beijing-based alcoholic beverage e-commerce company Jiuxian.com has raised RMB500 million (US$80 million) in a new round of financing from undisclosed Chinese investors, according to Chinese media reports. The company says its valuation has been increased to RMB6.5 billion (US$1.05 billion) after this new round. Founded in 2009, the firm has previously completed six rounds of […]

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The Carlyle Group has invested RMB530 million (US$85 million) in Chinese vending machine operator Beijing Ubox Technology & Trade Co., Ltd. for an undisclosed amount, according to a company announcement. The global private equity giant made the investment via its RMB fund, Carlyle Beijing Partners Fund, L.P., which was established with the support of the […]

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Customs officers have arrested four men after finding, for the first time, goods smuggled in altered fuel tanks and battery cases on lorries.

Officers found 432 smartphones and about 50kg of silver beads in seven packs concealed in a false compartment inside a lorry's fuel tank at Lok Ma Chau Control Point yesterday.

The seizure value amounted to about $360,000. The 48-year-old male driver was arrested.

Officers then searched a shed in Tai Po and seized goods totalling $4.43 million, including smartphones, silver bars and beads, smartphone screens and memory cards. Two men aged 35 and 36 were arrested.

Earlier this month, Customs officers found 248 smartphones, worth about $1 million, concealed in false compartments inside two battery cases of a lorry at Lok Ma Chau and arrested the 48-year-old male driver.

Police have arrested a private car driver after his vehicle reportedly struck and killed an elderly man in Hung Hom.

Police believe the car was turning right from a carpark into Man Yue Street when it knocked down the 68-year-old victim about 9.20am today.

He was sent to Queen Elizabeth Hospital where he was certified dead.

The 61-year-old driver was arrested for dangerous driving causing death and is being held for questioning.

Witnesses should call investigators on 2773 5200 or 2773 5262.