Business

China Looks to Contain Yuan Volatility Amidst Falling Reserves

S. Rina   | Jan 11, 2017 06:45 AM EST

China is planning to contain the fall of its currency value as the country struggles to maintain its reserves. The currency showed the signs of weakness this week as well as The People's Bank of China set the mark on Monday at 0.87 percent lower than last Friday. read more

China Perfects the Art of Making Ballpoint Pens

S. Rina   | Jan 11, 2017 05:36 AM EST

China has mastered the art of making ballpoint pens. The country is the largest manufacturer of ballpoint pens in the world. It makes nearly 38 billion units every year. However, until now, China had imported the steel required for making the pen tips from Japan. read more

Global Economy Would Suffer This Year if Sino-US Trade Relations Deteriorate: Report

Desiree Sison   | Jan 11, 2017 04:15 AM EST

The global economy stands to face a major threat this year as the world's two largest economies--China and US--continue to exchange barbs over trade issues heightening the already volatile trade situation between the two nations. read more

ANZ’s UDC Finance Acquired by China’s Conglomerate HNA Group for $628M

Girish Shetti   | Jan 11, 2017 04:23 AM EST

ANZ Bank has sold its New Zealand asset finance business UDC Finance to Chinese conglomerate HNA Group for $NZ660 million ($628 million). This is ANZ's second sale out in almost single week as the banking giant looks to streamline its global business. read more

China Bans Import of 19 Korean Cosmetics Amid THAAD Conflict

Steve M.C.   | Jan 11, 2017 09:29 AM EST

The South Korean cosmetics industry has been hit hard in the Chinese market after 19 of its products failed to meet the country's import guidelines, a move that is believed to be China's reply to Seoul for allowing the US to deploy a Terminal High Altitude Area Defense (THAAD) system. read more

New York to Shut Down Indian Point Nuclear Power Plant due to Safety Concerns

Theena Ocay   | Jan 11, 2017 01:07 AM EST

Entergy Corp's Indian Point nuclear power plant in New York state will shut down by April 2021 in order to protect the safety of its citizens, Governor Andrew Cuomo announced on Monday. read more

ChemChina, Syngenta Submit Remedy Proposals to Address EU Watchdog’s Concerns

Girish Shetti   | Jan 10, 2017 07:19 AM EST

China National Chemical Corp (ChemChina) and Swiss agricultural giant Syngenta AG have formally submitted remedies to the European Union's competition watchdog in a latest bid to win regulatory approval for their $43 billion merger agreement. read more

Morgan Stanley, UBS to boost presence in China

S. Rina   | Jan 10, 2017 07:00 AM EST

Morgan Stanley and UBS Group AG are looking to increase their footprints in China. The news is being widely seen as the endorsement of booming a Chinese economy. Both the financial firms plan to boost their holdings in their respective joint ventures in China to permissible 49 percent. read more

Alibaba’s Jack Ma Meets Donald Trump, Promises to Create Jobs

S. Rina   | Jan 10, 2017 11:49 AM EST

US president elect Donald Trump held a meeting with prominent Chinese entrepreneur Jack Ma in New York. Ma said that Alibaba has the potential to create thousands of jobs by letting US businesses sell to China. Both Trump and Ma agreed that Sino-US relationship needs to be strengthened. read more

Air China Bans Shark Fin Cargo, Creates History

S. Rina   | Jan 10, 2017 06:41 AM EST

Air China Cargo, a part of Air China, made history after banning shark fin cargo aboard its flights, the first mainland aviation company to do so. Air China Cargo manages cargo shipment on commercial aircraft and freight planes of the airlines. read more

Legendary Investor Jim Rogers Picks Russia over China

S. Rina   | Jan 10, 2017 06:31 AM EST

Jim Rogers, co-founder of Quantum Fund with George Soros, has come up with a contrarian advice. The legendary investor said that in the coming time, investors should contemplate buying Russia. He said that the US markets are at their all-time high, making It important to take a look at undervalued markets. read more

China's Producer Prices Hit 5-Year High in December

Steve M.C.   | Jan 10, 2017 08:08 PM EST

Producer prices in the Chinese market for coal and raw materials, hit a whole new high in December 2016, the highest record since 2011 thus signaling economic stabilization. read more

Alibaba's Jack Ma Offers Trump 1 Million American Jobs

Desiree Sison   | Jan 10, 2017 03:52 AM EST

Alibaba Group Holdings founder Jack Ma has offered to create an estimated one million jobs for American workers through its e-commerce and online shopping platforms during his meeting with US president-elect Donald Trump on Monday. read more

Didi Chuxing Invests in Uber Rival in Brazil

Ellie Froilan   | Jan 10, 2017 02:49 AM EST

Didi Chuxing is expanding its business to South America with $100 million investment into Brazil-based taxi aggregator 99. read more

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