Uber Rival Didi Launches English App

Didi Chuxing, the ride-hailing company that dominates the Chinese market and is backed by Apple (AAPL, Tech30), has launched an English version of its app. The new Didi app will support credit cards from nine countries, including the U.S., the U.K. and Brazil. But the twists and turns in the global ride-hailing industry has resulted in some strange bedfellows. When Didi took over Uber’s China operations, Uber became Didi’s largest shareholder as part of the deal, and Didi took a minority stake in Uber. That means Uber has a significant stake in a company that appears keen to eventually kill off its brand in China and compete with it in international markets.

Source : https://goo.gl/z9S27C

Tech Startup CarZar Gets International Funding

South African tech-startup, CarZar.co.za has drawn investment from Nasdaq-listed firm, Vostok New Ventures. South African tech-startup, CarZar.co.za has drawn investment from Nasdaq-listed firm, Vostok New Ventures. The local startup is also backed by Silvertree Capital, the South-African based venture capital firm behind price comparison site PriceCheck, and online bottle store, CyberCellar.

Source : https://goo.gl/Gsq21T

Dollar Strength Puts Rand Under Pressure

The rand was under pressure on Tuesday morning as the dollar gathered strength, putting pressure on commodity prices. The local currency tripped to lows of R13.71/$, demonstrating a fairly high degree of volatility that analysts have said is likely to be a feature in 2017, partly due to potential domestic political risks.

Source : https://goo.gl/prnCOi

Net 1 Can Deduct From Grant Beneficiaries

The High Court in Pretoria on Tuesday found that deductions can be made from the bank accounts of social grant beneficiaries held with Grindrod. Net1 UEPS Technologies, the holding company for Cash Paymaster Services (CPS), which administers the payment of social grants, approached the court for a declaratory order regarding the government’s decision to limit direct deductions from beneficiaries’ accounts. This was after the company was criticised for selling airtime and insurance to beneficiaries and deducting the money from their accounts through debit orders.

Source : https://goo.gl/oCqsCj

Sub Saharan Africa Growth Lowest In 20 Years

Growth in sub-Saharan Africa was at the lowest level in two decades in 2016, the International Monetary Fund (IMF) said in its latest regional economic outlook released on Tuesday. According to the IMF, growth in sub-Saharan Africa dropped to 1.4% in 2016. The forecast for 2017 is a marginal recovery of 2.6%.

Source : https://goo.gl/AQaE0a

Currencies : ZAR/EUR 14,91 . ZAR/GBP 17,68 . ZAR/USD 13,67


Author: The Turk Report

Simplifying complex money matters

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s