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Fashion Retailer Shein in Talks to Raise Funds at Lower Valuation of $64 Billion

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Fashion Retailer Shein in Talks to Raise Funds at Lower Valuation of $64 Billion

The latest valuation would be nearly 36 percent less than the $100 billion the company was reportedly valued at in a funding round last year.

Chinese fashion retailer Shein is in talks to raise up to $3 billion at a reduced valuation of $64 billion, the Financial Times reported on Wednesday, citing people with knowledge of the negotiations.

The latest valuation would be nearly 36 percent less than the $100 billion the company was reportedly valued at in a funding round last year.

Big tech and growth stocks bore the brunt of a prolonged rout last year, worsened by aggressive interest rate hikes that sent the tech-heavy Nasdaq Composite index down 33 percent in 2022.

A selloff in global markets following Russia’s invasion of Ukraine and subsequent Western sanctions served as a final blow, prompting companies, including Shein, to put their U.S. listing plans on hold, Reuters reported last year.

The online retailer is seeking to close a new fundraising round from existing investors including Abu Dhabi sovereign wealth fund Mubadala, venture capital group Sequoia China and private equity group General Atlantic, the report added.

“Shein denies the accuracy of some of the information,” a spokesperson said, declining to elaborate.

Shein, which does not sell in China, has grown into one of the world’s largest online fashion marketplaces since its 2008 launch in Nanjing. It produces clothing in China to sell online in the United States – its biggest market, Europe and Asia.

Items such as $10 dresses and $5 tops help draw hundreds of millions of visitors to its website each month.

The company raked in around 100 billion yuan ($15.7 billion) in revenue in 2021, and was valued at $50 billion earlier that year.

The company has long drawn criticism about working conditions along its supply chain. Its ultra-low prices and lack of transparency have also prompted labor watchdogs, including the Worker Rights Consortium and the Business & Human Rights Resource Centre, to question how it produces its merchandise so cheaply.

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Premier League team news: predicted lineups for the weekend action

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Premier League team news: predicted lineups for the weekend action

Premier League team news

Premier League team news: A classic is on the cards between Arsenal and Manchester United while Everton face West Ham in a relegation six-pointer

Liverpool v Chelsea

Saturday 12.30pm BT Sport 1 Venue Anfield Last season Liverpool 1 Chelsea 1

Referee Michael Oliver This season G15 Y48 R1 3.26 cards/game

Odds H 10-11 A 33-10 D 3-1

Liverpool v Chelsea
Probable starters in bold, contenders in light

Liverpool

Subs from Kelleher, Adrián, Matip, Ramsey, Tsimikas, Phillips, Henderson, Milner, Oxlade-Chamberlain, Jones, Elliott, Bajcetic, Carvalho, Doak

Doubtful Núñez (knock)

Injured Van Dijk (hamstring, Feb), Díaz (knee, March), Arthur (thigh, Feb), Jota (calf, Mar), Firmino (calf, unknown)

Suspended None

Discipline Y18 R1

Form WWWWLL

Leading scorers Firmino, Salah 7

Chelsea

Subs from Bettinelli, Soonsup-Bell, Hall, Chukwuemeka, Aubameyang, Giraud-Hutchinson, Humphreys, Badiashile, D Fofana, Cucurella, Gallagher, Loftus-Cheek, Mudryk

Doubtful None

Injured Sterlling (hamstring, Feb), W Fofana (knee, Feb), Zakaria (quadricep, Feb), James (knee, Feb), Chilwell (thigh, Feb), Kanté (thigh, Mar), Broja (knee, unknown), Pulisic (knee, unknown), Mendy (finger, unknown)

Suspended João Felix (second of three)

Discipline Y37 R3

Form LWDLLW

Leading scorer Havertz 5

Bournemouth v Nottingham Forest

Saturday 3pm Venue Vitality Stadium Last season Bournemouth 1 Nottingham Forest 0 (Championship)

Referee Andy Madley This season G12 Y41 R2 3.58 cards/game

Odds H 8-5 A 17-10 D 11-5

Bournemouth v Nottingham Forest
Probable starters in bold, contenders in light

Bournemouth

Subs from Dennis, Neto, Plain, Rothwell, Dembélé, Stacey, Cook, Kelly, Ouattara, Brooks, Fredericks, Stanislas, Tavernier, Dacosta, Adu Adjei, Sadi, Stephens

Doubtful Brooks (thigh), Fredericks (illness), Stanislas (knock), Tavernier (hamstring), Cook (knee)

Injured Solanke (knee, unknown)

Suspended None

Discipline Y32 R0

Form LWLLLL

Leading scorers Billing, Moore 4

Nottingham Forest

Subs from Smith, Soh, Colback, Surridge, Cafú, Badé, Taylor, Cook, O’Brien, Dennis, Toffolo, Williams, Yates

Doubtful None

Injured Lingard (hamstring, Feb), Henderson (hamstring, Feb), Boly (ankle, Feb), Niakhaté (thigh, Feb), Richards (calf, Feb), Awoniyi (groin, Mar), Biancone (knee, unknown), Kouyaté (hamstring, unknown)

Suspended None

Discipline Y42 R0

Form WDLDWW

Leading scorers Awoniyi, Johnson 4

Leicester v Brighton

Saturday 3pm Venue King Power Stadium Last season Leicester 1 Brighton 1

Referee Thomas Bramall This season G4 Y14 R0 3.5 cards/game

Odds H 12-5 A 11-10 D 5-2

Leicester v Brighton
Probable starters in bold, contenders in light

Leicester

Subs from Iversen, Smithies, Vardy, Iheanacho, Pérez, Vestergaard, Mendy, McAteer, Soyuncu, Brunt, Braybrooke, Albrighton, Maddison

Doubtful Maddison (knee), Pérez (knock)

Injured Pereira (calf, Feb), Soumaré (hamstring, Feb), Evans (calf, Feb), Justin (achilles, Jun), Bertrand (knee, unknown)

Suspended None

Discipline Y24 R0

Form WWLLLL

Leading scorer Maddison 7

Brighton

Subs from McGill, Steele, Lamptey, Welbeck, Sarmiento, Enciso, Undav, Van Hecke, Moran, Gilmour, Veltman

Doubtful None

Injured Moder (knee, Feb), Colwill (knock, unknown)

Suspended None

Discipline Y26 R0

Form WLWLWW

Leading scorer Trossard 7

Southampton v Aston Villa

Saturday 3pm Venue St Mary’s Stadium Last season Southampton 1 Aston Villa 0

Referee Michael Salisbury This season G8 Y36 R1 4.62 cards/game

Odds H 2-1 A 8-5 D 5-2

Southampton v Aston Villa
Probable starters in bold, contenders in light

Southampton

Subs from Caballero, McCarthy, Mara, Edozie, Walcott, Aribo, S Armstrong, Maitland-Niles, Morgan, Alcaraz, Orsic, A Armstrong, Djenepo, Bella-Kotchap, Perraud

Doubtful Walcott (match fitness), McCarthy (ankle), Bella-Kotchap (knee)

Injured Livramento (knee, Feb), Larios (groin, unknown)

Suspended None

Discipline Y31 R0

Form LLLLLW

Leading scorer Ward-Prowse 5

Aston Villa

Subs from Olsen, Steer, Sanson, Chambers, Augustinsson, Nakamba, Bednarek, Dendoncker, Coutinho

Doubtful Cash (groin), Steer (calf)

Injured McGinn (hamstring, Feb), Diego Carlos (calf, Feb), Digne (shoulder, unknown)

Suspended None

Discipline Y43 R1

Form WWLWDW

Leading scorer Bailey 4

West Ham v Everton

Saturday 3pm Venue London Stadium Last season West Ham 2 Everton 1

Referee Stuart Attwell This season G12 Y42 R2 3.66 cards/game

Odds H 4-5 A 21-5 D 14-5

West Ham v Everton
Probable starters in bold, contenders in light

West Ham

Subs from Areola, Randolph, Johnson, Fornals, Antonio, Lanzini, Downes, Ogbonna, Coventry, Ashby, Luizão, Kehrer, Scamacca

Doubtful Areola (groin), Cornet (calf), Scamacca (knee), Ings (registration)

Injured None

Suspended None

Discipline Y25 R0

Form LLLLDL

Leading scorers Benrahma, Scamacca 3

Everton

Subs from Begovic, Lonergan, Mina, Holgate, Vinagre, Doucoure, Davies, McNeil, Gordon, Maupay, Mills, Price, Simms, Onyango

Doubtful Garner (back)

Injured Townsend (knee, Feb), Keane (knee, Feb), Patterson (knee, Mar)

Suspended None

Discipline Y40 R0

Form LLLDLL

Leading scorers Gordon, Gray 3

Crystal Palace v Newcastle

Saturday 5.30pm Sky Sports Premier League Venue Selhurst Park Last season Crystal Palace 1 Newcastle 1

Referee Craig Pawson This season G11 Y47 R0 4.27 cards/game

Odds H 18-5 A 11-12 D 12-5

Crystal Palace v Newcastle
Probable starters in bold, contenders in light

Crystal Palace

Subs from Johnstone, Whitworth, Milivojevic, Tomkins, Mateta, Édouard, Ferguson, Balmer, Riedewald, Gordon, Wells-Morrison, Goodman, Rodney, Ward, Schlupp, Ozoh

Doubtful Ferguson (match fitness)

Injured McArthur (groin, unknown), Richards (thigh, unknown)

Suspended None

Discipline Y39 R2

Form LLWLLD

Leading scorer Zaha 6

Newcastle

Subs from Dubravka, Lascelles, Dummett, Manquillo, Lewis, Ritchie, Anderson, Isak, Murphy

Doubtful None

Injured Shelvey (calf, Feb), Krafth (knee, Aug), Guimarães (ankle, unknown), Targett (ankle, unknown)

Suspended None

Discipline Y33 R0

Form WWWDDW

Leading scorer Almirón 9

Leeds v Brentford

Sunday 2pm Sky Sports Premier League Venue Elland Road Last season Leeds 2 Brentford 2

Referee Peter Bankes This season G9 Y42 R0 4.66 cards/game

Odds H 7-5 A 2-1 D 27-10

Leeds v Brentford
Probable starters in bold, contenders in light

Leeds

Subs from Robles, Ayling, Aaronson, Cooper, Firpo, Llorente, Perkins, Georginio, Gyabi, Sinisterra, Gelhardt

Doubtful Cooper (knee), Wober (groin)

Injured Forshaw (groin, Feb), Summerville (ankle, Feb), Dallas (leg, unknown)

Suspended None

Discipline Y36 R2

Form WLLDDL

Leading scorer Rodrigo 10

Brentford

Subs from Strakosha, Cox, Roerslev, Hickey, Goode, Sørensen, Canós, Damsgaard, Dasilva, Ghoddos, Lewis-Potter, Crama, Trevitt, Jørgensen, Schade

Doubtful Hickey (knock), Henry (calf)

Injured Baptiste (groin, Feb), Onyeka (thigh, Feb), Jansson (thigh, Feb)

Suspended None

Discipline Y26 R0

Form DWDWWW

Leading scorer Toney 13

Manchester City v Wolves

Sunday 2pm Venue Etihad Stadium Last season Manchester City 1 Wolves 0

Referee David Coote This season G10 Y33 R1 3.4 cards/game

Odds H 1-5 A 16-1 D 7-1

Manchester City v Wolves
Probable starters in bold, contenders in light

Manchester City

Subs from Carson, Palmer, Wilson-Esbrand, Walker, Ortega, Gomez, Silva, Phillips, Dias, Foden, Álvarez, Stones, Laporte

Doubtful None

Injured None

Suspended None

Discipline Y18 R1

Form LWDWLW

Leading scorer Haaland 22

Wolves

Subs from Sarkic, Aït-Nouri, Mosquera, Jonny, Toti, Ronan, Smith, Campbell, Guedes, Costa, A Traoré, Jiménez

Doubtful None

Injured Neto (ankle, Feb), Chiquinho (knee, Apr), Kalajdzic (knee, unknown), B Traoré (groin, unknown)

Suspended None

Discipline Y39 R3

Form LLWLDW

Leading scorer Podence 5

Arsenal v Manchester United

Sunday 4.30pm Sky Sports Premier League Venue Emirates Stadium Last season Arsenal 3 Manchester United 1

Referee Anthony Taylor This season G14 Y54 R5 4.21 cards/game

Odds H 13-14 A 16-5 D 41-14

Arsenal v Manchester United
Probable starters in bold, contenders in light

Arsenal

Subs from Hein, Turner, Soares, Tierney, Tomiyasu, Holding, Sambi Lokonga, Elneny, Vieira, Marquinhos, Smith Rowe, Trossard

Doubtful Elneny (knock)

Injured Jesus (knee, Mar), Nelson (hamstring, unknown)

Suspended None

Discipline Y32 R0

Form WWWWDW

Leading scorer Ødegaard 8

Manchester United

Subs from Heaton, Butland, Hannibal, Fred, Pellestri, Malacia, Maguire, Elanga, Williams, Lindelöf, Martial, Weghorst

Doubtful Martial (match fitness)

Injured Dalot (hamstring, 28 Jan), Van de Beek (knee, Aug), Sancho (match fitness, unknown), Tuanzebe (match fitness, unknown)

Suspended Casemiro (one match)

Discipline Y48 R0

Form WWWWWD

Leading scorer Rashford 8

Fulham v Tottenham

Monday 8pm Sky Sports Premier League Venue Craven Cottage Last season n/a

Referee Paul Tierney This season G15 Y50 R2 3.46 cards/game

Odds H 23-10 A 6-5 D 14-5

Fulham v Tottenham
Probable starters in bold, contenders in light

Fulham

Subs from Rodak, Adarabioyo, Duffy, Chalobah, James, Mbabu, Harris, Vinícius, Cairney, Wilson, Kurzawa, Solomon

Doubtful None

Injured Kebano (achilles, unknown)

Suspended None

Discipline Y49 R1

Form LWWWWL

Leading scorer Mitrovic 11

Tottenham

Subs from Forster, Austin, Spence, Davies, Sánchez, Tanganga, Skipp, Sarr, Gil, Doherty, Perisic, Bissouma, Son

Doubtful None

Injured Lucas Moura (calf, unknown)

Suspended None

Discipline Y39 R1

Form WDLWLL

Leading scorer Kane 15

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Today’s gold prices in Pakistan – 20 January 2023

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Today’s gold prices in Pakistan – 20 January 2023

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs184,850 on Friday. The price of 10 grams of 24k gold was recorded at Rs158,480.

Likewise,10 grams of 22k gold were being traded for Rs145,200 while a single tola of 22-karat gold was being sold at Rs 169,300.

Note: gold prices in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

CityGoldSilver
LahorePKR 184,860PKR 2,110
KarachiPKR 185,000PKR 2,110
IslamabadPKR 184,850PKR 2,110
PeshawarPKR 184,850PKR 2,110
QuettaPKR 184,850PKR 2,110
SialkotPKR 184,850PKR 2,110
AttockPKR 184,850PKR 2,110
GujranwalaPKR 184,850PKR 2,110
JehlumPKR 184,850PKR 2,110
MultanPKR 184,850PKR 2,110
BahawalpurPKR 184,850PKR 2,110
GujratPKR 184,850PKR 2,110
NawabshahPKR 184,850PKR 2,110
ChakwalPKR 184,850PKR 2,110
HyderabadPKR 184,850PKR 2,110
NowshehraPKR 184,850PKR 2,110
SargodhaPKR 184,850PKR 2,110
FaisalabadPKR 184,850PKR 2,110
MirpurPKR 184,850PKR 2,110

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Honey Afternoon Tea reviewed, St Ermin’s Hotel Westminster, London

There are many ways to get to Montenegro Adriatic Coast, my taxi driver assured me, raising his voice over a chorus of horns that angrily saluted his laissez-faire attitude toward lane use during morning rush-hour traffic in Belgrade. ‘But it makes no sense to take the train.’ He weaved through less aggressive vehicles like a skier clearing slalom gates. A cold, grey autumn rain began to fall harder, drops beading down my window, as the main railway station came into view.

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There are many ways to get to Montenegro’s Adriatic Coast, my taxi driver assured me, raising his voice over a chorus of horns that angrily saluted his laissez-faire attitude toward lane use during morning rush-hour traffic in Belgrade. ‘But it makes no sense to take the train.’ He weaved through less aggressive vehicles like a skier clearing slalom gates. A cold, grey autumn rain began to fall harder, drops beading down my window, as the main railway station came into view.

‘Let me take you to the airport,’ he sounded genuinely concerned. ‘You will be in the sea and in the sun and with a beer in half an hour. This thing you are doing, it will take all day … and into the night.’ He finally relented as we pulled up to the curb: ‘At least buy water, sandwiches, and toilet paper.’

The cabbie left me in front of the crenellated railway station, a faded Habsburg-yellow throwback opened in 1884. He was already speeding off to advise another tourist before I could throw my bag over my shoulder. Inside, I found the ticket office. The woman behind the glass informed me that the trip from Belgrade, Serbia, to Bar, Montenegro – on the Adriatic edge of the Balkan Peninsula – takes 12 hours. It costs 21 euros (there would be an additional three-euro charge for a seat reservation). ‘Yes, there is a bakery nearby,’ she said and pointed. ‘It is behind you. The shop for water and tissues is next to it.’ She slid the window closed, stood, picked up her pack of cigarettes, and disappeared.

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That sense of old-world drama would serve me well, I would soon learn, along this route. On the outskirts of the Serbian capital – as I settled into my seat in a weathered, six-person cabin – we passed Topčider Station, where the hulking locomotives from Yugoslav leader Marshal Tito’s famous Blue Train are stored. The behemoths sat dishevelled, graffitied, but still regal and almost lifelike, wishing me a safe passage to the outer lands. Within an hour, the tangle of urban metal and concrete unravelled, and the countryside spread out in all directions with the urgency of a jailbreak. The sun came out as wet, emerald-green hummocks began to play leapfrog across the vista, rolling until they dove out of sight over the horizon.

Though the Belgrade–Bar line doesn’t have a sexy moniker (like the Royal Scotsman or Rocky Mountaineer), the Yugoslav Flyer would be appropriate. When construction began on the 476km railway in 1951, the Socialist Federal Republic of Yugoslavia was in its infancy: a tenuous post-WWII cadre of states on the Balkan Peninsula’s western half. By the time the route opened in 1976 – complete with 254 tunnels and 234 bridges winding down from the Pannonian Plain to the island-studded Adriatic Sea – the country had implanted itself as a geopolitical force and a synapse between the West and the Soviet Union.

Yugoslavia has since splintered into seven nations. The railway, thankfully, endures, connecting Serbia to Montenegro with a brief blip across Bosnia & Hercegovina’s eastern border. But the line’s existence represents more than just a continued, now international, transport option. These tracks are the Balkans – and a lifeline to a swath of land where cultures have intertwined since before history. Here, the train takes adventurers across vistas crisscrossed by Greeks and Illyrians, as well as the Roman, Byzantine, Ottoman and Austro-Hungarian Empires. Along the way, visitors have a literal window onto a living museum frozen in time.

Those natural exhibits were on full display as we rumbled through the foothills of the Dinaric Alps in the southwestern corner of Serbia. When we crossed the border into Montenegro, the museum’s lineup of canvases – pristine panoramas and landscapes – changed again. The Western Balkans’ rotating collection now included towering mountains and canyons that engulfed us whole.

‘I had no idea what to expect,’ said Colin Smith, a fellow passenger and UK native. Outside the window, an old couple leaned against pitchforks next to haystacks. Behind them, vegetable gardens and a small-but-dense orchard of plum trees surrounded a stone farmhouse. ‘But I am so surprised by the beauty: the mountains, steep ravines and endless drops.’

Before I went to sleep that night, I remembered my taxi driver: ‘But it makes no sense to take the train.’ Lying in bed, I could hear the sea washing onto the shore outside my rented apartment’s window. If I ever saw him again, I would make sure to tell the cabbie he was right: a flight would have been much faster and easier, and more sterile.

Book tickets (and separate necessary reservations) at the station a day in advance. There are 1st- and 2nd-class options. Night-train passengers can choose between couchettes or sleepers (with two or three beds). A one-way ticket (from Belgrade) costs 21 euros; a reservation is necessary and costs an additional three euros. Second-class couchettes on night trains cost an additional six euros. A bed in a three-bed sleeper is 15 euros; a bed in a two-bed sleeper is 20 euros.

The Belgrade–Bar railway line runs twice per day, in both directions. From Belgrade, the train departs at 9:10am and at 9:10pm; the trip takes 12 hour.

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