Sichuan province-based big data firm BusinessBigData has received RMB100 million (US$16 million) series B round of financing from Sinolink Securities Co., Ltd, CDH Investments and another unidentified investor, according to Chinese media reports. The company previously received an undisclosed series A round from Shenzhen Fortune Venture Capital Co., Ltd. in April, according to its website. […]

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Shanghai-based online food ordering platform Ele.me has signed an agreement to receive US$90 million investment from Shenzhen-listed Chinese shopping mall operator Beijing Hualian Department Store Co., Ltd., according to a securities filing. Other investors, including Sequoia Capital, Horizon Ventures, Chinese e-commerce firm JD.com Inc. and Slender West Lake Investment Limited, also invested an undisclosed amount […]

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Chinese conglomerate Dalian Wanda Group has agreed to acquire the World Triathlon Corp from U.S. private equity firm Providence Equity Corp for around US$900 million, in another step to push further into the sports sector, according to media reports. Representatives at Providence and Dalian Wanda did not immediately respond to inquires to confirm the news. […]

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Yuneec International Co. Ltd., a Kunshan, Jiangsu-province based drone maker, has received US$60 million investment from Intel, according to a video announcement made by Intel. Founded in Hong Kong in 1999, Yuneec has over 1,800 employees located in Hong Kong, Shanghai, Los Angeles and Hamburg, Germany. Yuneec makes over one million units a year, including […]

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Customs officers have arrested a 28-year-old man after seizing 4kg of drugs worth $650,000.

They stopped him in Tsim Sha Tsui yesterday and found he was carrying a small amount of cannabis buds.

They later found 2.5kg of cannabis buds, 1.3kg of cannabis resin, 100 grams of "ice", 50g of cocaine, and 50g of MDMA powder in a Cameron Road flat.

He will face drug trafficking charges in Kowloon City Magistracy tomorrow.