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Rina S.

China plans to launch Quantum Satellite in July

China Set to Launch Quantum Satellite in July

May 23, 2016 06:53 AM EDT

China has announced its plan to launch the world's first quantum satellite in July this year. The announcement was made by Pan Jianwei, an academician at the Chinese Academy of Sciences, during a seminar conducted in Shanghai. This state of the art satellite will allow quantum communication between the space and the earth.

China Mobile Plans to Enter Insurance Market

China Mobile to Make Foray into Insurance Segment with 2 Billion Yuan Investment

Rina S. |

May 23, 2016 06:51 AM EDT

China Mobile is planning to diversify its portfolio by entering insurance business. According to the online financial magazine, Caixin, the wireless carrier is planning to infuse 2 billion yuan ($305.6 million) for gaining foothold in the sector.

Alibaba Collaborates With Samsung for Mobile Payment

Rina S. |

May 20, 2016 04:37 PM EDT

Alibaba Group Holding Ltd. has inked a new deal with Samsung Electronics Co. to giving a boost to mobile payments. The collaboration will help Samsung to gain a foothold in the Chinese market, while assisting Alibaba in expanding its global outreach.

Chinese Company Midea Makes $5 Billion Offer for German Robotics Firm Kuka

Rina S. |

May 19, 2016 11:30 AM EDT

China's leading home appliance manufacturing company Midea has disclosed its bid for German robot-making firm Kuka. The Chinese company has offered a proposal of $130 per share for a controlling stake in the robotics company. The bid values the German company at more than $5 billion.

Alibaba and Softbank Join Hands to Launch Cloud Service

Rina S. |

May 14, 2016 05:00 PM EDT

Chinese e-commerce giant Alibaba is collaborating with Softbank to launch cloud computing services in Japan. The deal reflects Alibaba's ambition to grow into a global behemoth. The joint venture has been named SB Cloud Corporation. Softbank and Alibaba will have 60 percent and 40 percent share respectively in the new venture.

China reported slow down in credit expansion in April

China Reports Moderate Credit Expansion: Assuages Debt Binge Concerns

Rina S. |

May 14, 2016 04:54 PM EDT

China has reported a sharp reduction in its lending last month, after concerns were raised about high credit surge in the first quarter of the year. The country's broadest measure of new credit showed less than expected numbers, suggesting that the central bank may have tempered borrowing requests.

The anti-counterfeiting group Suspended Alibaba's Membership.

Alibaba Suspended From Anti-Counterfeit Coalition Over Irregularities

Rina S. |

May 14, 2016 12:04 PM EDT

The International Anti-Counterfeiting Coalition announced that it has suspended Chinese e-com giant Alibaba’s membership. The action is believed to have been taken after objections from current members regarding Alibaba’s lax attitude towards listing fake goods. However, the real reason concerns irregularity in admitting Alibaba to the group.

Hacker Apparently Leaks Personal Data of China's Elite

Rina S. |

May 14, 2016 11:52 AM EDT

A hacker has reportedly leaked personal data of a vast number of China's political figures and business magnets on an anonymous Twitter account. The data includes the birth dates, addresses, marital status and national identification numbers of various prominent personalities. The authenticity of the leaked information is yet to be verified.

Didi Kuaidi Boosts Security Features in Response to Shenzhen Tragedy

Rina S. |

May 10, 2016 03:08 PM EDT

Chinese ride hailing app Didi Kuaidi has announced the addition of an emergency button to its app to increase the safety feature of its service. The company is also planning to add a face-recognition system to ensure that a driver is the same person registered on its platform.

Baidu has been told to revamp its search algorithm

Baidu Ordered to Overhaul Search Results

Rina S. |

May 10, 2016 10:21 AM EDT

Chinese authorities have ordered Baidu to revamp its search results. The company has been directed to change the way it shows advertising results in its online searches. Baidu is currently under investigation after the death of Wei Zexi, a college student suffering from cancer, who used the company's search result to find treatment.

China Condemns US Report on Religious Intolerance, Describes it as an ‘Attack’

Rina S. |

May 08, 2016 08:40 AM EDT

China has filed a formal diplomatic complaint against a report released by the United States Commission for International Religious Freedom (USCIRF). The commission used critical language to condemn the state of religious freedom in China. In response, Beijing has said that the report is biased and described it as an 'attack.'

GMichael Phelps is a New Father to a Baby Boy.

Olympian Michael Phelps is a Father: Names Child Boomer

Rina S. |

May 08, 2016 08:31 AM EDT

Swimming Ace Michael Phelps has announced the arrival of his first child with a cute Instagram post on Thursday. Phelps' fiancée Nicole Johnson delivered the baby in Arizona. The child has been named Boomer Robert Phelps. The middle name is in honor of Phelps' longtime coach, Bob Bowman.

Apple CEO Tim Cook reported to visit China later this month

Apple’s Tim Cook to Visit China: Underscores China’s Clout

Rina S. |

May 07, 2016 08:37 AM EDT

Apple's CEO Tim Cook is reported to be planning a visit to China later this month to meet high-level officials. Apple has been struggling with quite a few roadblocks in China including the ban on its iBooks and iTunes Movies service. Cook's visit to the country underscores the importance of the Chinese market to Apple.

VR Expert Mary Lou Jepsen Announced Her Departure from Facebook

Facebook Loses VR Expert as Oculus’s Mary Lou Jepsen Departs

Rina S. |

May 07, 2016 08:30 AM EDT

Facebook would have to fill a hole in its virtual reality division as Mary Lou Jepsen, head of display technology for Oculus VR division, has announced her plans to leave the company in August. Jepsen is planning to work towards developing MRI technology for the health sector.

Donald Trump Alluded that He May Replace Janet Yellen on Coming to Power

Trump to Change Economic Landscape, May Replace Fed Chief Yellen

Rina S. |

May 06, 2016 04:27 PM EDT

Republican Presidential nominee Donald Trump is looking to shake up the US' economy on coming into power. Trump said that he will likely replace Fed Chief Janet Yellen when her term ends in February 2018. However, he said that he agrees with Yellen's policy to keep the interest rate low.