Bloomberg news have reported that US -listed, Chinese e-commerce leader, Alibaba Group is exploring a potential second listing in Hong Kong, as early as the second half of 2019, that could raise $20 billion as Beijing seeks to encourage its tech titans to list closer to home. This listing is intended to help Alibaba “diversify funding channels and boost liquidity.”
At least 90 people have been injured after Indian occupying forces opened fire on a crowd protesting against the ‘cordon and search’ operation in Tazipora area of Kulgam district in the Indian-occupied Kashmir. Indian troops fired bullets, pellets and teargas shells on the crowd, critically injuring over six dozens of them. Many of the injured had been admitted to the Kulgam hospital.
Following the directives of the President, Sheikh Khalifa bin Zayed, the UAE Cabinet announced that the Eid Al Fitr holiday for the public sector will start on Sunday, June 2, for one week, with work resuming on Sunday, June 9. However, combined with May 31 (Friday) and June 1 (Saturday), the public sector will get altogether a 9-day long holiday.
Swiss pharmaceutical company, Novartis, announced that it has received US regulatory approval for a gene therapy that treats a rare childhood disorder and has a price tag of $2.1 million, making it the most expensive drug in history. The company said Zolgensma was a one-time treatment for spinal muscular atrophy and will cost $2.125 million payable over five years.
More than 40 per cent of lawmakers in India’s new parliament face criminal charges — some as serious as murder and rape — and the list is growing, an electoral reform group said on Saturday. One member of parliament for the opposition Congress party is battling 204 cases including manslaughter and robbery, the Association of Democratic Reforms (ADR) said.
Entrepreneur Elon Musk’s SpaceX has raised more than $1 billion in financing in the last 6 months as it aims to roll out an ambitious high-speed internet service via satellites. The company raised $486.2 million in December and $535.7m in April, and launched its first batch of 60 small satellites into low-Earth orbit for Musk’s new Starlink internet service.