Business

Davos 2017: Xi Sells Globalization to World Leaders, CEOs at the World Economic Forum

Desiree Sison   | Jan 18, 2017 09:22 AM EST

Chinese President Xi Jinping addressed the annual Davos World Economic Forum (WEF) on Tuesday, selling the benefits of economic globalization to global political leaders, CEOs, and bankers who attended the gathering. read more

China Sovereign Wealth Fund CIC to Boost US Investments

S. Rina   | Jan 18, 2017 05:06 AM EST

Chinese sovereign wealth fund China Investment Corporation (CIC) is planning to raise its profile in the United States by looking at alternative investment opportunities. The fund said that its new course of action is prompted by relatively lower returns in the public markets. read more

Baidu Opens Augmented Reality Lab to Boost Its Fortunes

S. Rina   | Jan 18, 2017 04:44 AM EST

Baidu aims to pursue its augmented reality ambitions in 2017 as the company announced that it will open its brand new Augmented Reality lab in Beijing. With this step, the Chinese technology giant is looking to boost its bottom line with the help of state-of-the-art technology. read more

China Targets 6.5% Growth Rate in 2017: Reuters

S. Rina   | Jan 18, 2017 04:31 AM EST

China is expected to emphasize economic stability over growth rate in 2017, with the government expecting to clock a 6.5 percent rate, insiders familiar with the matter told Reuters. The authorities are also looking to contain the risk of real estate bubble and debt overload. read more

GM's Cadillac Upbeat about Double-Digit Sales Growth in China for 2017

Girish Shetti   | Jan 17, 2017 08:09 AM EST

General Motors Co's (GM) luxury car division Cadillac Motors is upbeat about its sales prospect in China for the current year, expecting sales to continue growing at double digit growth rate. But luxury carmaker anticipates that the sales would grow at a slower pace than 2016. read more

President Xi Urges Swiss Business Leaders to Fight Trade Protectionism

Desiree Sison   | Jan 17, 2017 04:54 AM EST

Chinese President Xi Jinping met with Swiss business leaders in the capital city of Bern on Monday, underscoring the Chinese and Swiss business circles' common interests in maintaining an open and free trade. read more

Alibaba Resorts to ‘Big Data’ to Track Fake Goods

Girish Shetti   | Jan 17, 2017 03:26 AM EST

Alibaba has decided to resort to 'big data' for solving the bane of counterfeit or fake goods that has casted shadow on the e-commerce giant for several years now. The e-commerce company has formed what it calls the world's first 'Big Data Anti-Counterfeiting Alliance,' which has several big brands on the board. read more

China Takes Steps to Control Yuan Value Slide, Outlook Bleak

S. Rina   | Jan 16, 2017 08:09 PM EST

China has instituted various measure to contain the fall in the value of its currency. However, market experts believe that the slide is likely to continue despite these actions. The slowdown in economy is likely to further exacerbate the depreciation in value. read more

Essilor, Luxottica Agree $49B Merger Deal

Theena Ocay   | Jan 17, 2017 07:15 PM EST

Essilor of France announced on Monday the $49 billion merging deal with Luxottica Group of Italy that would create a giant in the eyewear industry read more

Volkswagen to Release 8 New Energy Vehicles in China: Report

Charissa Echavez   | Jan 16, 2017 09:05 AM EST

German automaker Volkswagen is slated to launch eight New Energy Vehicles, including electric vehicles, plug-in hybrid units, and hydrogen cars, in China, Forbes reported citing a leaked product presentation slide. read more

EPA Accuses Fiat Chrysler of Using Emission Defeat Devices

Phenny Lynn Palec   | Jan 16, 2017 08:45 AM EST

The United States Environmental Protection Agency (EPA) announced on Thursday that it is pursuing Fiat Chrysler for allegations of illegally installing secret defeat software that allowed more than 100,000 of the automakers diesel vehicles to emit harmful substances way above the legally allowed levels. read more

Toyota to Call Back over 15,000 Lexus Units in China

Charissa Echavez   | Jan 15, 2017 10:22 PM EST

Japanese car maker Toyota will call back 15,865 imported Lexus vehicles in China because of defective airbags, the Chinese General Administration of Quality Supervision, Inspection, and Quarantine announced (ASDIQ). read more

LeEco Gets $2.18B Funding from Real Estate Firm Sunac

S. Rina   | Jan 15, 2017 09:59 AM EST

Chinese technology company LeEco has received a fresh round of funding from Sunac China Holdings, according to the stock exchange filing made by the property developer on Friday. read more

China Expresses Economic Concerns over Donald Trump Regime

S. Rina   | Jan 16, 2017 01:50 AM EST

China has aired its misgivings about upcoming Donald Trump regime in the US. The country believes that the future US president is likely to engage in a trade war, causing damage to both the countries. Donald Trump has maintained a prominent anti-China stance during his election campaign. read more

Canadian Seafood Industry Buoyed by China Lowering Tariffs

S. Rina   | Jan 16, 2017 01:46 AM EST

China has lowered tariffs on seafood, giving a fillip to Canadian industry. The lower tariffs became applicable from Jan. 1 this year to a wide variety of marine products. read more

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