Business

Ferrari to Open Theme Park in China

Charissa Echavez   | Apr 05, 2016 09:20 AM EDT

Luxury carmaker Ferrari will build a theme park in China, its third in the world next to Abu Dhabi and Spain, which is scheduled to open in 2017. read more

China's Land Sales Saw Steep Declines

Charissa Echavez   | Apr 05, 2016 07:28 AM EDT

Sales of land in China saw a steep decline as the property industry cooled and the country faces economic slowdown, the Ministry of Finance said on Tuesday. read more

McDonald’s China to Open 1,000 More Outlets in the Mainland

Jenia Cane   | Apr 04, 2016 11:31 PM EDT

McDonald's China is planning to open 1,000 more outlets in the mainland by 2020, as the company moves to attract more investors that would help realize its business expansion plans. read more

China’s Green Tea Popularity Surges with Online Selling Efforts

Jenia Cane   | Apr 04, 2016 10:07 PM EDT

China's popular green tea is enjoying high sales via the online market as its popularity continues to grow. read more

Dick Cook Studios Signs $500M Partnership Deal with China's Film Carnival

Charissa Echavez   | Apr 04, 2016 09:38 AM EDT

Dick Cook Studios has inked a $500 million production agreement with Chinese movie company Film Carnival to create films that will be distributed across the globe. read more

ZTE to Reveal New Management Team on Tuesday

Charissa Echavez   | Apr 04, 2016 10:13 AM EDT

Chinese smartphone maker ZTE Corp. is planning to unveil its new set of management team on Tuesday, a spokesman revealed. read more

Taiwanese Company Foxconn Acquires Sharp in $3.5 Billion Deal

Aaron Case   | Apr 03, 2016 11:15 AM EDT

Taiwanese company Foxconn completed its acquisition of Japanese electronics manufacturer Sharp yesterday, signing a US$3.5 billion deal that will give them control of 66 percent of the company. read more

China Slaps Tariffs on Britain and EU Steel Imports

Girish Shetti   | Apr 03, 2016 08:28 AM EDT

China on Saturday announced that it will impose a 14 to 46 percent tax on a special type of hi-tech steel imported from Britain and rest of the European Union. read more

Airbnb to Close Down Illegal Rentals from San Francisco Listings

Ellie Froilan   | Apr 03, 2016 12:08 AM EDT

Airbnb has been in the move to crack down on San Francisco hosts who violate the city’s law on short-term rentals, complying with the city’s housing laws. read more

China’s Investment Climate Seen to Further Improve

Jenia Cane   | Apr 01, 2016 06:46 PM EDT

China's investment climate is expected to further improve as the Central Government has pledged to foster a more conducive business environment, while upholding intellectual property rights to entice more foreign investors into the country, particularly those from the US. read more

India's $10 Billion Cigarette Market in Trouble After Mandatory 85 Percent Pictorial Warning

S Satapathy   | Apr 01, 2016 02:42 PM EDT

India's Health Ministry's September 2015 notification about the implementation of the Cigarettes and other Tobacco Products (Packaging and Labelling) Amendment Rules, 2014 came into force on 1 April, 2016. The law calls for larger pictorial warnings on tobacco products. read more

Huawei’s Profit Rises by 33 Percent With 108 Million Smartphone Shipments in 2015

S Satapathy   | Apr 01, 2016 01:36 PM EDT

The profit of Chinese tech company Huawei rose by 33 per cent in 2015, driven by its smartphones sale. In its annual report, the company revealed that its net profits reached 36.9 billion yuan ($6.13 billion) in 2015 and its global revenue grew to 395 billion yuan, up by 37 percent from the previous year. read more

China's Factory Activity Unexpectedly Expands in March

Marcel Woo   | Apr 01, 2016 08:40 AM EDT

China's manufacturing activity unexpectedly picked up in March, further adding to signs that the country's economic pressures are easing. read more

China Car Recalls Continue; Subaru to Recall 78 Vehicles

Marcel Woo   | Apr 01, 2016 08:27 AM EDT

Japanese car manufacturer Subaru is recalling a total of 78 cars in China due to faulty turbocharger, according to the General Administration of Quality Supervision, Inspection and Quarantine. read more

China's Anbang Drops $14 Billion Bid Offer for Starwood Hotels

Charissa Echavez   | Apr 01, 2016 07:17 AM EDT

China's Anbang Insurance Group Co. dropped its $14 billion bid offer for Starwood Hotels & Resorts Worldwide Inc because of "market consideration," a surprise move just two days after the Chinese insurer raised its offer from $13.9 billion. read more

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