Photo credit: toonartist / 123RF. Didi, China’s top ride-hailing startup, today revealed it has secured US$5.5 billion in funding. The investors were not disclosed. The money is to “support its global strategy and continued investments in AI-based technologies,” the startup said in a brief statement. With this, Didi has raised just over US$18 billion from investors since it got series A in 2012. The service last year claimed to be profitable in 230 of the 300 cities where it op...
From left is Gerald Lawless, chairman of the World Travel and Tourism Council, and Olivier Jager, CEO and co-founder of ForwardKeys. SkiftSkift Take: Tune in to our first backstage podcast from Skift Forum Europe for insight on how the world is changing for travel — and how the industry is responding. — Hannah SampsonVolatility in the world — and the way the travel industry deals with it — was one of the big themes recently at the first ever Skift Forum Europe in London. Terror attacks,...
By Chris Sonderby, Deputy General Counsel Today we are releasing our latest Global Government Requests Report for the second half of 2016, which details the number of government requests we received for data, as well as the number of items of content restricted for violating local law in countries where our service is available. Government requests for account data increased by 9% globally compared to the first half of 2016, from 59,229 to 64,279 requests. About half of the data requests we rece...
Wyndham is relying on its popular loyalty program, Wyndham Rewards, to boost its other businesses, which include timeshares and vacation rentals. Wyndham Hotel Group Skift Take: Wyndham might not have 30 hotel brands like Marriott, but it does have the world's largest timeshare business and a pretty robust vacation rental business, too. Leveraging the power of all three of its businesses just makes us wonder: Why haven't they tried to do this before? — Deanna TingWyndham Worldwide&...
WANDA Group said yesterday that it would stage several top-level marathons in Asia, including China’s first international event, as part of its latest investment in sport. A signing ceremony between the Chinese group and Abbott World Marathon Majors took place in Beijing. Wanda, headed by Wang Jianlin, one of China’s richest men, is a commercial property developer that has diversified recently into entertainment and sports, partly as a buffer against real estate volatility. &ld...
Skift Take: Now's your chance to save on our fourth annual Skift Global Forum. — Rafat AliInitial planning is in full-swing at Skift HQ for our flagship event Skift Global Forum in New York City this September 26-27, and we wanted to make sure our most loyal Skift fans were able to purchase their tickets early and were rewarded for doing so. That’s why we’ve re-opened up our previously sold out Early Bird discount — for an additional 35 tickets. That’s right. We are ...
A U.S. Customs and Border Protection Officer in Corpus Christi, Texas on August 9, 2014. U.S. Customs and Border Protection Corpus ChristiSkift Take: Skift reported this story two months ago that the CBP was revoking Global Entry Enrollment from some Muslim-Americans and the CBP flatly denied it. This Bloomberg story confirmed that customs officials weren't telling the truth at the time. — Dennis SchaalU.S. Customs and Border Protection revoked the enrollment of people in the Global Entry...
APRIL is the cruellest month, breeding lilacs out of the dead land, and, in Washington, chirpy forecasts from the IMF that often prove a bit too chirpy. On April 18th the fund released its semi-annual World Economic Outlook (WEO), raising its forecast for global growth in 2017 to 3.5%.Growth forecasts for the emerging world have not changed. The IMF’s global optimism is based instead on hopes of increased growth in the rich world. The fund takes a rosy view of the American economy, citing both...
The International Monetary Fund raised its 2017 global growth forecast on Tuesday due to manufacturing and trade gains in Europe, Japan, and China, but warned that protectionist policies threaten to choke a broad-based recovery. The IMF, whose spring meetings with the World Bank get underway in Washington this week, forecast that the global economy would grow 3.5% in 2017, up from its previous forecast of 3.4% in January. In its latest World Economic Outlook, the Fund said that chronically weak ...
Evan Freely has been insuring global risks for years — through the 2008 market meltdown, the 2002 crisis in Argentina, and the 1993 downturn in Venezuela. Yet turmoil now seems to be coming at a more rapid pace than he’s seen before. “I’m more concerned today about political risk than ever,” says Freely, the global head of political risk and credit specialties at Marsh & McLennan Cos., the world’s largest insurance broker. Rising populism in France, Germany, ...
Los Angeles hopes its new campaign will help international travelers' U.S. travel fears subside. Pictured are tourists taking a photo in Los Angeles. Discover Los AngelesSkift Take: Los Angeles is part of a trend across major global cities as they attempt to distance themselves from less welcoming parts of their countries. Most cities can't claim to be as diverse as Los Angeles, which helps its message appear honest yet measured. — Dan PeltierLos Angeles’ tourism industry may be rid...
NEW DELHI: There is presence of highly toxic flame retardants chemicals in children’s toys and related products made from recycled plastics generated from e-waste, said a global study. According to the study, chemical contaminants that can damage the nervous system and reduce intellectual capacity were found in Rubik’s Cubes – a puzzle toy usually made of recycled plastic, designed to exercise the mind. Surprisingly, some of the toxic chemical levels in children’s ...
Destinations have made progress on sustainability and visas but more work lies ahead. Pictured are tourists on a river cruise on the Seine in Paris. computix / FlickrSkift Take: These are the tourism trends we were talking about this week. — Sarah EnelowThroughout the week we post dozens of original stories, connecting the dots across the travel industry, and every weekend we sum it all up. This weekend roundup examines tourism. For all of our weekend roundups, go here. >>Get even deepe...
Documents and computer files released by hackers provide a blueprint for how the U.S. National Security Agency likely used weaknesses in commercially available software to gain access to the global system for transferring money between banks, a review of the data showed. On Friday, a group calling itself the Shadow Brokers released documents and files indicating NSA had accessed the SWIFT money-transfer system through service providers in the Middle East and Latin America. That release was the l...
BENGALURU: President Pranab Mukherjee today underscored the need for India to be a global powerhouse not just in terms of economic parameters but also 'Gross National Happiness'.      "If we aspire to be one of the leading economic powers of the world, yes, we can be, but merely in statistical terms, in terms of gross domestic product (GDP), in terms of skill are not adequate," Mukherjee said after laying the foundation stone for the Bengaluru Dr B R Ambedkar Sc...
Chinese tourists, like those pictured here in Singapore, spent $261 billion on foreign trips in 2016. Dan Peltier / SkiftSkift Take: With less than five percent of Chinese travelers holding passports, last year's spending totals for international Chinese travelers represents only a fraction of the market's spending potential as millions more Chinese choose to travel abroad each year. — Dan PeltierChinese travelers venturing abroad spent $261 billion on foreign travel in 2016, a 12 p...
Jeep will travel to next week's Shanghai Auto Show to introduce a new concept named Yuntu. Powered by a hybrid drivetrain, the seven-seater off-roader previews a production model that will be sold by Jeep and, possibly, Chrysler. The post Jeep goes global with a hybrid seven-seater concept named Yuntu appeared first on Digital Trends.
Destinations have made progress on sustainability and visas but more work lies ahead. Pictured are tourists on a river cruise on the Seine in Paris. computix / FlickrSkift Take: Travel brands have an economic incentive to push policy makers and private sectors in their destinations on sustainability and leaner visa policies because tourists will reward them with higher spending and likely repeat visits. — Dan PeltierWhile many travel industry brands have introduced more eco-friendly practices...
SHANGHAI has emerged as the world’s largest international trading city due to the government’s measures to encourage and upgrade trade, government officials said yesterday. Imports and exports through the city’s ports totaled 6.88 trillion yuan (US$998 billion) last year, accounting for 28.3 percent of national value and 3 percent of global trade, Shanghai Commission of Commerce said yesterday. Shanghai has overtaken Hong Kong and Singapore to be the largest international ...
Chen keeps spendingNOW it is a conglomerate with more than $100bn-worth of assets around the world. But HNA Group started life as a small local airline. Chen Feng, the Chinese company’s founder, led a coalition including private investors and the government of Hainan, a southern province, to launch Hainan Airlines in 1993.Despite some help from the local government, the upstart firm was an outsider then. The central government chose three big state-run airlines to receive favoured landing slot...