Consumers in China are taking to social media to express their support for Huawei as the U.S. government looks to ramp up pressure on the Chinese smartphone maker.Technologyread more
Tensions between the two parties have heightened in recent months as the campaign for seats in the Brussels and Strasbourg-based parliament has crescendoed.Europe Politicsread more
Shares of Saudi shopping mall operator Arabian Centres were trading at 24.5 riyals ($6.53) just after markets opened in Riyadh.IPOsread more
There is at least one thing in common between the U.S. and Russia – their willingness to weaken the European Union, a top EU official said.Politicsread more
U.S. President Donald Trump's latest tariff increase — and Beijing's plans to counter them — are hitting U.S. companies in China, according to a joint survey this month by...China Economyread more
"We are also constantly watching whether the trade war will turn into a tech war," Ma said Tuesday, according to a CNBC translation of his Chinese remarks published by a locak...China Economyread more
TransferWise, the money transfer start-up, was valued at $3.5 billion after investors bought $292 million of shares in a secondary sale.Technologyread more
Indian Prime Minister Narendra Modi's likely return to power for a second term will likely be positive for his country's growth, according to economists and investors.Asia Economyread more
Kohl's, J.C. Penney and Nordstrom release disappointing earnings news, putting a damper on their sector.Retailread more
"Pretty much the entire suite of apps that 'talk' over the internet could be vulnerable," said Tom Uren, a senior analyst at the Australian Strategic Policy Institute's...Cybersecurityread more
Bezos's comments give a rare glimpse into his interest in the auto industry. Amazon recently invested in two self-driving start-ups.Technologyread more
(Changes billion to million in paragraph 7)
DUBAI, April 29 (Reuters) - German chauffeur service Blacklane is planning an initial public offering (IPO) in the next three years, its chief executive told Reuters, as it strives to build its position in the fast-growing premium taxi market.
Any flotation would follow those of larger ride-hailing rivals. U.S. group Lyft listed last month with a valuation of $24.3 billion, while Uber is planning an IPO that values the company at $80.5-$91.5 billion.
"This would be a natural evolution of our business model and our traction to IPO in the next years to come. That's pretty realistic," Blacklane CEO Jens Wohltorf said in an interview on the sidelines of a tourism fair in Dubai. He declined to provide any details.
Blacklane, which competes with the likes of British premium car service Addison Lee and UberBLACK, the ride-hailing app's luxury arm, caters to business customers in 300 cities in 60 countries.
Uber, by comparison, says it is available in more than 600 cities worldwide.
Blacklane is expanding into 20 cities in the Middle East this year, including Cairo, Wohltorf said.
It will invest $10-$20 million in the expansion, financed by the company and its shareholders, which include German premium carmaker Daimler AG and Abu Dhabi-based Al Fahim Group, he added.
Wohltorf said Blacklane's core driver service was profitable, but that overall the company was not because it was expanding in areas such as airport express services.
"If we decide we don't want to grow one hundred and twenty percent year over year anymore, but slower, we could immediately turn it around," he said.
Blacklane currently does around half of its business in Europe, with about a third in the United States and the rest in the Middle East and Asia. (Reporting by Nafisa Eltaher; Editing by Mark Potter)