CMN PwC May 2018 Report 1200×90

CME, Crypto Facilities To Launch Ether Reference Rate And Index

CME Group, the Chicago-based derivatives marketplace, has teamed up with London-based cryptocurrency trading platform Crypto Facilities Ltd to launch the CME CF Ether-Dollar Reference Rate. It will provide a daily benchmark price in U.S. dollars at 4pm London time. The pair is also launching CME CF Ether-Dollar Real Time Index, which will allow users access to a real-time Ether price in U.S. dollars.

Didi Suspends Hitch Service For A Week Following Murder Case

Chinese ride hailing giant DiDi said it will suspend its hitch service nationwide for a week for rectification, following a murder case earlier this week. The case comes at a time when Didi is reportedly planning an initial public offering this year or next, and is facing increasing competition from strong new players in China’s ride hailing market including Meituan Dianping and Ctrip.

CDH Investments Offers Higher Bid Of $1.4B To Acquire Australian Medical Device Firm Sirtex Medical

Chinese alternative asset fund manager CDH Investments has proposed to acquire Australian medical device company Sirtex Medical Limited (ASX: SRX) for about A$1.87 billion (US$1.4 billion), according to Sirtex Medical’s announcement today. Sirtex Medical said it had received an unsolicited non-binding, indicative and conditional proposal from CDH Investments to acquire 100% of its shares for a cash price of A$33.6 per share, representing a 14.2% premium over its closing price of A$29.42. With 55.77 million shares outstanding,  Sirtex Medical is …

CITIC Capital, China Everbright Back Renewable Energy Firm Arctic Green Energy

Arctic Green Energy, a renewable energy company focusing on creating zero-emission cities, has completed a new funding deal from CITIC Capital, China Everbright Ltd. and Asian Development Bank. CITIC Capital, an early investor in Arctic Green Energy since 2015, has exercised its conversion rights to acquire equity of US$30 million in Arctic Green Energy. China Everbright Ltd. has purchased shares and an exchangeable bond issued by Arctic Green Energy for a total of US$70 million. Previously, Arctic Green Energy announced …

Xiaomi Promises To Limit Net Profit Margin To 5% Ahead Of IPO

Chinese electronics giant Xiaomi Inc. has made an unusual promise that it will limit its net profit margin to 5% for its hardware business, including smartphones, IoT and lifestyle products. The news is significant given Xiaomi is reportedly gearing up for an IPO that some say could value the company up to US$100 billion.