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HONG KONG, Aug 17 (Reuters) – Online fast-fashion retailer Shein is eyeing a company valuation of around $25 billion in its Hong Kong IPO, said three people with knowledge of the matter, down from nearly $100 billion four years ago due to challenging business conditions. Singapore-headquartered Shein, known for selling $5 dresses and $10 jeans to shoppers in about 160 countries, is aiming to launch its much-awaited initial public offering […]

By Alexander Cornwell JERUSALEM, Aug 17 (Reuters) – Israeli Prime Minister Benjamin Netanyahu is due to meet Donald Trump’s envoy and son-in-law Jared Kushner on Monday, a day after he held a rare meeting with Hamas officials in Cairo, in a bid to push forward the U.S. president’s Gaza peace plan. A diplomatic source said Hamas leader Khalil Al-Hayya was present at some of the meetings that mediators held with […]

TAIPEI, Aug 17 (Reuters) – Taiwan is determined to strengthen its defences as an investment in peace, President Lai Ching-te said on Monday, confirming that proposed defence spending for next year will rise by 16% and exceed T$1 trillion ($31.40 billion) for the first time. Taiwan’s cabinet will formally unveil next year’s budget on Thursday, including a breakdown of where defence spending will go. The announcement comes as China, which […]

Aug 17 (Reuters) – Myanmar junta chief-turned-president Min Aung Hlaing left for Russia on Monday for his first official visit to the country since he assumed the presidency in April, according to state media. • Russia will be the fifth country Min Aung Hlaing has visited since becoming president, with official trips to India, China, Laos, and earlier this month, Thailand. • The former general is the subject of a […]

Aug 17 (Reuters) – AstraZeneca on Monday said it is discontinuing a late stage trial that tested volrustomig plus chemotherapy in patients with metastatic non-small cell lung cancer. The decision followed a recommendation from an independent data monitoring committee, which found the volrustomig combination was unlikely to meet either of its primary endpoints of progression-free survival or overall survival in patients with tumours without the PD-L1 protein. The discontinuation adds […]

MOGADISHU, Aug 17 (Reuters) – Somalia’s federal troops and armed opposition groups clashed in heavy fighting in Baidoa city centre on Monday, a local resident and an army officer told Reuters.  The administrative capital of South West state, Baidoa is home to ​international peacekeepers and humanitarian agencies. It is one of Somalia’s largest cities with a population of over a million people. Fresh fighting in the city could compound a […]

BANGKOK (AP) — Shares were mostly higher Monday in Asia after U.S. stocks edged back from their all-time high following a weaker than expected report on the U.S. economy. U.S. futures were little changed and oil prices were mixed. Tokyo’s Nikkei 225 index gained 0.3% to 68,929.33 after the Japanese government reported the economy grew slightly faster than forecast in the April-June quarter, expanding at a 1.1% annual pace even […]

By Kane Wu and Eduardo Baptista HONG KONG, Aug 17 (Reuters) – Alibaba Group is expected to reap more than $2 billion from the sale of its game developer unit Lingxi Games to private equity firm Trustar Capital, a person familiar with the matter told Reuters. Alibaba and Trustar have reached a formal agreement after several rounds of talks, according to an internal memo sent to Lingxi staff on Monday […]

By Anton Zverev LONDON, Aug 17 (Reuters) – Binance last year handed Russian authorities details of cryptocurrency donations to Ukrainian fundraising campaigns that were used as evidence to bring terrorism financing charges against a Russian IT specialist, law enforcement documents show. While it is normal for companies like Binance to comply when law enforcement agencies in countries where they operate make legitimate requests to see client information, the world’s largest […]