Hong Kong tycoon Li Ka-shing has offered $11.6 billion in stocks to merge its infrastructure arm, Cheung Kong Infrastructure Holdings (CKI), with utility affiliate Power Assets Holdings through a share swap mechanism for further expansion into the public utility industry, the Shanghai-based online news outlet the Paper reported on Thursday.
During a seminar at the Annual Meeting of the New Champions in Dalian, experts claimed that the Internet will be the prime means to establish a better lending industry. Internet technology has been shaking up traditional financial institutions, they added.
Tsinghua Holdings is setting up China's first technology transfer fund, with an initial investment worth 500 million yuan. The move aims to speed up and foster innovation in the country's high-tech sector.
Because of Donald Trump's remarks that undocumented Mexican migrants who cross the border and enter the U.S. are rapists and criminals, NBCUniversal cut business ties with the billionaire. The Republican presidential aspirant just bought NBC's 50 percent stake in the Miss Universe Organization.
Leading Chinese car-hailing service Didi Kuaidi joined Asia’s two largest Internet companies, Alibaba Group Holding Ltd. and Tencent Holdings Ltd., in investing in U.S. ride-sharing service provider Lyft Inc. during the second quarter, Bloomberg reported, citing sources privy to the investment deal.
Tencent Holdings Ltd. now holds the title as Asia’s largest Internet company, following Alibaba Group Holding Ltd.’s 10-month slide that wiped $140.7 billion from its market value, the Wall Street Journal reported.
With Apple Inc. set to unveil its new iPhone in the United States on Wednesday, Chinese scalpers are speculating the price of the device, widely called the iPhone 6s.
During the Annual Meeting of the New Champions 2015 on Wednesday, Chinese Premier Li Keqiang said that the Chinese economy has avoided systemic financial risks. He said that, despite recent fluctuations, China's economy remains strong.
China's Premier Li Keqiang has made a reassuring declaration for global markets on Wednesday, stating the China's economy can keep on track.
Facebook recently fired one of its Chinese engineers for charging visitors for tours of the company’s offices in California and for abusing employee benefits, according to the state-owned broadcaster China National Radio.
The local 3D printing industry is poised to receive intensified backing from the Chinese government. The move is in line with the "Made in China 2025" initiative.
Alibaba announced that it will cut its campus recruitment quota. This comes after it has reviewed it businesses and found that "it has more people than it needs."
China's Industrial and Commercial Bank of China (ICBC) has formally opened its branch in Yangon on Tuesday, Sept. 8, becoming the first Chinese commercial bank to operate in Myanmar, the Xinhua News Agency reported.
The decision of BKSE Bokwang Suzhou E&T Co. Ltd. to shutter its Wujiang factory in June has left both workers and local authorities still reeling from its effect.
About 140,000 passengers of German flag carrier Lufthansa were cancelled on Wednesday due to a pilot strike. However, about 500 planes of the air carrier are still operating and the strike does not affect the trips of its four subsidiaries. These are Germanwings, Swiss, Austrian Airlines and Brussels Airlines.
