Business

Wanda's AMC Buys Nordic Cinema for $929M

Ellie Froilan   | Jan 24, 2017 12:32 PM EST

Dalian Wanda Group's AMC Entertainment Holdings has bought Stockholm-based Nordic Cinema Group Holding for $929 million in cash. read more

Chinese Billionaire Jack Ma Rules out China-US Trade War

S. Rina   | Jan 23, 2017 03:19 PM EST

The trade relations between China and the US have hit a new low with the swearing-in of US President Donald Trump. Nonetheless, Chinese business tycoons have expressed their optimism that the two countries will be able to overcome their differences. Alibaba founder Jack Ma is one of the people who hold this hopeful perspective. read more

China’s Financial and Real Estate Sector Report Slower Growth in the Fourth Quarter

S. Rina   | Jan 24, 2017 11:00 AM EST

China reported better-than-expected economy growth rate during the fourth quarter of 2016. However, its financial and real estate sector could not keep up the pace. The overall economy grew by 6.8 percent during the last quarter of the previous year. read more

Philippine Delegation Flies to Beijing to Discuss Investment, Economic Cooperation With China

Desiree Sison   | Jan 23, 2017 06:12 AM EST

A group of high-level Philippine officials are set to meet high-ranking Chinese authorities this week in Beijing to iron out the final details of $15 billion worth of investment and economic deals that President Rodrigo Duterte inked with the Asian giant during his first official state visit to China last year. read more

China Gives $1 Billion Funding to Paramount Pictures

S. Rina   | Jan 23, 2017 10:32 AM EST

China continues its push to capture Hollywood with a new $1 billion deal with Paramount Pictures. Two Chinese firms Huahua Media and Shanghai Film Group have agreed to finance nearly a quarter of Paramount films over the next three years. read more

China Offers Temporary Reserve Ratio cut to 5 big Banks to aid Liquidity

Staff Reporter   | Jan 23, 2017 10:28 AM EST

China has given temporary relief to five of its major banks as authorities announced a cut in their cash reserve ratio. The lower ratio will allow the banks to employ more of their resources as they are not required to keep a high cash reserve. read more

China’s Richest Man Wang Jianlin Warns Trump Against Trade War

S. Rina   | Jan 20, 2017 10:03 AM EST

Wanda Group's Wang Jianlin, China's richest man, issued a stern warning to Trump. He said that any protectionist policy is likely to result in discord between the countries. He also added that such disagreements would be detrimental to both the countries. read more

China Finds Bitcoin Exchanges Circumventing Regulations; Halts Margin Trading

S. Rina   | Jan 20, 2017 09:57 AM EST

China has taken strong steps to curb Bitcoin operations in the country. The government authorities undertook a series of investigations into the working Bitcoin exchanges in China. It found that several practices were in contravention to existing laws. read more

Alibaba Inks 12-Year Technology Deal with Olympics

S. Rina   | Jan 20, 2017 09:50 AM EST

Chinese tech giant Alibaba Group has inked a sponsorship deal with Olympic Games. The collaboration is reported to be worth $800 million. This is one of the biggest agreement in the history of Olympic movement. read more

Tsinghua Unigroup Unveils Plan to Build $30 Billion Chip Factory in Nanjing

Girish Shetti   | Jan 21, 2017 12:42 PM EST

China's state-owned Tsinghua Unigroup Ltd. on Thursday unveiled an ambitious plan to construct a $30 billion memory chip factory to bolster its local production capacity. read more

US Companies Accuse China of Protectionism

mwaniki wanjiku   | Jan 27, 2017 01:55 PM EST

An annual survey of business conditions in China conducted by the American Chamber of Commerce, or AmCham, found that 4 out of 5 companies feel less welcome in China than before read more

Alibaba Shows Investment Interest in Pakistan

Ellie Froilan   | Jan 19, 2017 07:58 AM EST

Alibaba's founder Jack Ma has expressed his huge interest in developing an investment in Pakistan. read more

Baidu Doubles down on AI, Hires Former Microsoft Executive Qi Lu

S. Rina   | Jan 19, 2017 06:19 AM EST

Baidu has taken its AI efforts to next level as it announced hiring former Microsoft executive Qi Lu as its new COO and group president. Lu had stepped down from Microsoft four months ago, citing health reasons. read more

China’s Big Cities to Grow Slower in 2017

S. Rina   | Jan 18, 2017 10:18 PM EST

Some of the biggest cities in China are targeting slower growth rate this year. The slowdown will continue from the previous year when the rate of growth showed deceleration. read more

Audi to Introduce New Electric Vehicles in China

S. Rina   | Jan 18, 2017 10:54 PM EST

Audi announced its plan to sell more electric vehicles in China. It is also looking to promote autonomous driving in the country. The major auto company will collaborate with FAW Group Corp to boost its presence in China. read more

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