Business

Tencent to Back Hollywood Studio STX Entertainment

Charissa Echavez   | Aug 10, 2016 08:09 PM EDT

Chinese tech giant Tencent Holdings is now a shareholder of Hollywood film studio STX Entertainment. read more

Weibo Smashes Second Quarter Result with 516 Percent Increase in Net Profit

Girish Shetti   | Aug 10, 2016 07:54 PM EDT

The second quarter result of Weibo Corp, the Chinese equivalent of Twitter, has beaten market estimates. The company announced on Monday that its net profit grew five folds in the second-quarter. read more

HTC and Alibaba Join Together for VR Cloud Partnership Deal

Ellie Froilan   | Aug 10, 2016 03:45 PM EDT

Alibaba and HTC have formed a partnership to explore virtual reality (VR) solutions for customers worldwide. read more

LeEco India R&D Center to Recruit Over 1000 Engineers by 2017

Ellie Froilan   | Aug 10, 2016 03:22 PM EDT

LeEco has announced its plan to hire more than 1,100 engineers for its India Research and Development (R&D) center by 2017. read more

China Capital Investment Group Acquires Queensland's South Molle Island in Whitsunday

Charissa Echavez   | Aug 10, 2016 03:16 PM EDT

China Capital Investment Group bought South Molle Island Resort in the heart of the Whitsundays in Queensland, Australia, for a reported $25 million, just more than a year after acquiring the nearby Daydream Island Resort and Spa. read more

Alibaba Lends Cloud Arm to Get Foreign Firms Into China

Charissa Echavez   | Aug 10, 2016 01:44 PM EDT

Chinese e-commerce giant Alibaba is extending its cloud computing arm Alibaba Cloud to international firms to help them get into the Chinese market. read more

China’s 2020 GDP to Highlight Knowledge Intensive Services

Jenia Cane   | Aug 09, 2016 05:58 PM EDT

About 20 percent of China’s Gross Domestic Product (GDP) by 2020 is anticipated to be comprised of knowledge-intensive services. read more

China Seeks 60-Day Review Extension for Marriott-Starwood Deal

Charissa Echavez   | Aug 10, 2016 11:28 AM EDT

China has extended its time frame for reviewing Marriott International Inc.'s proposed $14.6 billion purchase of Starwood Hotels & Resorts Worldwide Inc. by up to 60 days, the companies revealed on Monday. read more

Alibaba to Expand Business Operations in Russia

Ellie Froilan   | Aug 09, 2016 04:05 PM EDT

Alibaba has announced plans to expand its business operations in Russia. read more

Karma Automotive to Build $375M Electric Vehicle Factory in China

Charissa Echavez   | Aug 09, 2016 09:55 AM EDT

Karma Automotive intends to produce electric cars in China, as its owner Wanxiang Group is planning to build an electric vehicle plant in Hangzhou. read more

China's Midea Poise to Acquire 95% Stake of German Robot Maker Kuka

Charissa Echavez   | Aug 09, 2016 09:29 AM EDT

Chinese appliance maker Midea announced on Monday that it is acquiring roughly 95 percent of German robot maker Kuka amid the European government's fear of totally losing control over the company. read more

Chinese Investors Buy Major Stake in AC Milan

Iesha javed   | Aug 09, 2016 08:39 AM EDT

A consortium of Chinese investors will pay $819 million to buy Italian A.C. Milan soccer team. The consortium plans to buy 99.93 percent of AC Milan's shares, putting an end to Silvo Berlusconi's 30-year-long ownership of the Italian club. read more

China Beef Imports: Brazil Beats Australia As Biggest Supplier

Jenia Cane   | Aug 07, 2016 10:48 PM EDT

A new report has revealed that Brazil is now the biggest supplier of beef imports to China. read more

China’s Forex Reserve Declines to $3.20 Trillion in July

Girish Shetti   | Aug 08, 2016 09:12 AM EDT

China's foreign exchange reserves fell by $4.10 billion in the month of July, after witnessing a healthy rise in June. read more

Kiwifruit Marketer Zespri Temporarily Halts Shipments to China

Girish Shetti   | Aug 05, 2016 03:11 PM EDT

New Zealand's Kiwifruit marketer, Zespri, said on Friday that it has temporarily halted all the shipments of Kiwifruit to China, citing quality concerns raised by China's quality regulator. read more

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