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Rina S.

Tencent Holdings acquires a majority stake in 'Clash of Clans' maker Supercell Oy from Japan's SoftBank.

Tencent Acquires $8.6 Billion Majority Stake in 'Clash of Clans' Maker Supercell

Rina S. |

Jun 22, 2016 04:46 PM EDT

Tencent Holdings Ltd. has acquired a majority stake in Finnish gaming company Supercell worth $8.6 billion.

Tesla Motors Inc. is reported to have signed a non-binding agreement with Jinqiao Group for setting up a production base in Shanghai.

Tesla Close to Setting up $9 Billion Production Base in China

Rina S. |

Jun 21, 2016 03:16 PM EDT

Tesla Motors Inc. is reported to have signed a non-binding agreement with Jinqiao Group to set up a production base in Shanghai. According to a Bloomberg report, the investment is worth $9 billion. Both Tesla and Jinqiao Group, a Shanghai-based state-owned company, will invest $4.5 billion (30 billion yuan) each. Jinqiao's share is likely to be in the form of land.

Alibaba’s Jack Ma Claims Counterfeit Products are of Better Quality Than Original

Rina S. |

Jun 16, 2016 07:59 PM EDT

Alibaba founder Jack Ma has stirred controversy after stating that Chinese-manufactured counterfeit goods are now even better than the genuine products they are imitating. His statement has complicated the efforts being made to weed out fakes from Alibaba's platforms such as TaoBao.

According to a report released by Chinese Academy of Sciences, the surveyed cities had an average score 59.92 points.

Beijing Rated as the Least Livable City in China

Rina S. |

Jun 16, 2016 07:08 PM EDT

Beijing has earned the dubious distinction of being the least livable city in China. According to a report released by Chinese Academy of Sciences, Qingdao emerged as the top position holder for providing most wholesome living conditions. The report used a “Urban Habitability Index” for the purpose of conducting research.

Facebook has announced updating its suicide prevention tools

Facebook Makes its Suicide Prevention Tool Available to All Users

Rina S. |

Jun 15, 2016 03:01 PM EDT

Facebook has announced that it is updating its suicide prevention tools to make them available to all its users around the world.

MSCI keeps Chinese Stocks out of Emerging Market Indexes

China Stocks Face Setback as MSCI Keeps Them out of Emerging Market Indices

Rina S. |

Jun 15, 2016 01:24 PM EDT

Chinese stocks have been denied entry to international stock benchmarks by MSCI Inc. The move will come as a blow to investors looking to invest in the world's second-largest economy. MSCI cited concerns about access to Chinese markets as a reason for the non-inclusion. This is the third such decline by MSCI.

Dalai Lama is in Washington, D. C. this week.

China Cautions US Against Meeting With Dalai Lama

Rina S. |

Jun 15, 2016 08:23 AM EDT

China has warned US officials against meeting the Dalai Lama during his visit to the country. The Tibetan spiritual leader is in Washington, D. C. this week.

China and US Discuss Cybersecurity to Fix Differences

China and US Hold Talks to Discuss Cybersecurity Differences

Rina S. |

Jun 15, 2016 07:10 AM EDT

China and United States announced on Tuesday that both countries are committed to patch up their differences over cybersecurity.

LinkedIn to be bought by Microsoft for $26 billion.

Microsoft Agrees to Purchase LinkedIn for $26 Billion

Rina S. |

Jun 14, 2016 12:01 PM EDT

Technology giant Microsoft is buying professional networking website LinkedIn for $26 billion in an all-cash deal. Microsoft priced LinkedIn shares at $196 per share, giving almost a 50 percent premium over the company's share price at the close of trading on Friday. The tech company said that LinkedIn would maintain its "distinct brand, culture and independence."

Apple has introduced a new operating system macOS Sierra for its desktop and laptop products.

MacOS Sierra: Apple Scraps OS X, Unveils new OS at WWDC 2016

Rina S. |

Jun 14, 2016 04:53 AM EDT

Apple has introduced a new operating system for its desktop and laptop products. The company has scrapped the OS X fifteen years after its introduction and unveiled a new operating system in its place known as macOS Sierra.

Didi Chuxing: Uber Rival Raises $600 Million from China Life Insurance

Rina S. |

Jun 13, 2016 06:40 AM EDT

Chinese ride-sharing and ride-hailing app Didi Chuxing announced an infusion of $600 million from China Life Insurance Co Ltd, which also holds a stake in Didi Chuxing's rival and American multinational Uber.

China reported 10 percent increase in retail sales for the month of May

China Industrial Growth Rate Stays Steady, Investment Rate Declines

Rina S. |

Jun 13, 2016 06:06 AM EDT

China matched expectations for its industrial growth rate in May. However, the country saw the lowest increase for fixed-asset investment since 2000.

China emphasized the importance of building consensus for granting membership of Nuclear Supplier Group

China Proposes More Dialogue for Consensus on NSG Membership

Rina S. |

Jun 12, 2016 06:01 PM EDT

China has emphasized the importance of building consensus for the Nuclear Supplier Group (NSG) to grant membership to applicants. Beijing is opposing a bid made by India for inclusion into the 48-nation exclusive group. The bid is supported by the United States.

International Monetary Fund has raised concerns about China’s spiraling corporate debt.

IMF Tells China to Manage ‘High’ Corporate Debt Immediately

Rina S. |

Jun 11, 2016 07:57 PM EDT

The International Monetary Fund (IMF) has raised concerns about China's spiraling corporate debt and the associated potential risks. China is currently struggling to reverse a declining growth rate while its total debt and corporate debt is increasing. Banks are also being forced to carry high non-performing loans as companies are struggling to turn profits.