Business

China’s Fujian Gives Up on Aixtron Bid After Obama Blocks Deal

Girish Shetti   | Dec 09, 2016 03:18 AM EST

China's Fujian Grand Chip Investment Fund has withdrawn from the bidding race to acquire German chip equipment manufacturer Aixtron SE, after outgoing President Barack Obama imposed blockade over the deal last week. read more

Starbucks Creates Partnership With WeChat for Gift Card and Payment Deal

Ellie Froilan   | Dec 09, 2016 03:09 AM EST

Starbucks has announced its partnership with Tencent's WeChat, striking a gift card and payment deal. read more

Honda to Invest $436M in China amidst Growing Demand

S. Rina   | Dec 08, 2016 07:33 PM EST

Honda Motor announced its new investment in China to build its third automobile production plant worth 3 billion yuan ($436 milllion) in the country. The Japanese company will collaborate with Dongfeng Motor Group for the project. The announcement was made through a statement released on the company's website. read more

China Reports Higher Foreign Trade for November

S. Rina   | Dec 08, 2016 07:17 PM EST

China reported 0.1 percent year-on-year increase in its exports in November on a dollar-denominated basis. With this figure, the country reversed the decline it faced in October when exports fell 7.3 percent. China also reported 6.7 percent year-over-year increase in its imports during the month, recording its fastest ascent since September 2014. read more

Payment App Circle Will No Longer Allow Users to Buy or Sell Bitcoin

Phenny Lynn Palec   | Dec 08, 2016 09:57 AM EST

Social payment app Circle recently announced that it will no longer allow its users to buy or sell bitcoin on its platform. Circle said that the digital currency did failed to integrate itself into the app's core business. read more

Chinese Bourses Bid to Buy 40% Stake in Pakistan Stock Exchange: Report

Girish Shetti   | Dec 08, 2016 07:49 AM EST

China's three major stock exchanges are jointly bidding to buy 40 percent stake in Pakistan Stock Exchange (PSX), people familiar with the matter have said. read more

Alibaba, China Mobile Create Cloud Strategy Partnership

Ellie Froilan   | Dec 08, 2016 03:35 AM EST

Alibaba and China Mobile have joined together to build internet-related services as web users transfer to mobile devices. read more

Apple Blames 'External' Factors for iPhones Catching Fire in China

Girish Shetti   | Dec 08, 2016 12:20 AM EST

Brushing aside safety concerns, American tech giant Apple Inc on Tuesday deflected the blame on "external" factors for causing number of recent generation iPhones to explode in China. read more

China's Strong Demand, Argentina's Dry Weather Boost Soybean Prices

Charissa Echavez   | Dec 07, 2016 10:42 PM EST

Prices of soybeans remained aloft on Wednesday, thanks to China's second round of purchase of US soybean this week and Argentina's continuous dry weather, the AgWeb reported. read more

China Fines Medtronic for Unfair Business Practice

Steve M.C.   | Dec 07, 2016 12:34 PM EST

China's price regulator on Wednesday announced that they had fined US medical firm, Medtronic, based in Shanghai for unfair business practice. read more

McDonald’s to Keep 25% Stake Intact in China, Hong Kong Business: Report

Girish Shetti   | Dec 07, 2016 09:24 AM EST

McDonald plans to keep 25 percent stake intact in its China and Hong Kong business as it prepares to sell the reminder stake to a consortium led by private-equity firm Carlyle Group LP and Chinese conglomerate CITIC Group Corp, a person familiar with the matter said. read more

Daimler Mulls to Make Mercedes-Benz Electric Cars for China

Girish Shetti   | Dec 07, 2016 10:31 AM EST

Daimler AG has singled some special plans for China as the German automotive giant seeks to increase revenue from the world's largest car market. read more

Alipay to Expand Payment Service to Europe

Ellie Froilan   | Dec 07, 2016 09:39 AM EST

Alipay has partnered with three banks and a payment company for the expansion of its mobile payment service in the European region.ion of the mobile payment service in the region. read more

Chinese Apple Users Complain of Exploding, Catching Fire iPhone Units

Charissa Echavez   | Dec 06, 2016 11:03 PM EST

A number of Chinese iPhone users claimed that their smartphones reportedly exploded or caught fire, state-run Shanghai Consumer Council revealed and called on Apple's attention to address the issue. read more

Amazon to Launch Most Advanced Grocery Technology

Ellie Froilan   | Dec 07, 2016 07:27 AM EST

Amazon has finally announced its experiment in grocery shopping that uses deep learning algorithms and called “Just walk out technology.” read more

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