Shanghai Fosun Pharmaceutical (Group) Co. Ltd., a unit of China’s Fosun Group, has agreed to pay $1.26 billion to get about 86 percent stake in Indian pharmaceutical company Gland Pharma Ltd. from shareholders that included KKR & Co., among others.
As the Chinese yuan inches closer to becoming officially recognized as a reserve currency, the International Monetary Fund (IMF) said that the currency unit is well within its laid out policies.
Taikang Life Insurance Co., one of China’s biggest insurance companies, has acquired a 13.5 percent share in Sotheby’s with the aim to gain a board seat in the prestigious auction house, The Wall Street Journal reported.
Investments in the Central Asian states of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan amounted to $50 billion in 2014. This amount is larger than the Russian investment of $30 billion.
Chow Tai Fook Jewelry Group Ltd, the world’s largest publicly traded jewelry chain, announced plans to expand in the U.S. market by selling diamonds to retailers, as it seeks to offset China’s recent economic slump that has led sales of luxury goods to plunge.
Coca-Cola Co. declared low revenue this quarter due to low sales in China and Latin America. The beverage giant is not expecting any improvement for the rest of the year.
LeEco is the new owner of Vizio after a $2 billion buyout deal and many are wondering what China’s newest headline-grabbing firm is up to now.
Ducati Motor Holding SpA announced a big boost in motorbikes this year, and customers are unfazed with the government ban in majority of cities. Sales nearly doubled in the first half of the year.
Nintendo's first quarter (Q1) earnings for 2016 showed a 31 percent year-over-year (YOY) drop from $853 million to $587 million, and an $87 million operating loss. The Japanese electronics/software company has about a one-third stake in The Pokemon Company and game developer Niantic, but revenue earned from the smash-hit augmented reality (AR) game "Pokémon Go" was not included in the Q1 financial report. In addition, the release of its Pokémon Go Plus accessory has been delayed until September.
Intel Corp has upgraded its chip factory in Dalian, Liaoning Province in a bid to support the growing demand for memory chips in China amid concerns of competition from local rivals and government efforts to lessen the country’s reliance on foreign technology, China Daily reported.
Chinese electronics firm LeEco is buying American TV manufacturer Vizio for $2 billion.
Chinese hotel companies are now offering very cheap rates after seeing four out of 10 rooms sitting empty due to the over-expansion of accommodation companies in the country.
Chinese finance minister Lou Jiwei has vowed to exert efforts to introduce the new property tax, which industry analysts believed would stabilize the country’s real estate market in the long run, China Daily reported.
Shareholders of the Internet giant Yahoo expressed eagerness on when they can cash in their stakes and what the future holds after the sale to Verizon.
Tesla has doubled the workers on its $5 billion state-of-the-art Gigafactory it is building in the country's largest industrial park located in the Nevada desert. It is trying to finish construction before the launch of its Model 3 electric car. The $33,000 e-car is set to be a more affordable electric vehicle (EV) than its Model S sedan and Model X SUV. A labor force of about 1,000 workers is keeping up construction of the factory for lithium-ion battery cells seven days a week.
