Yahoo, which owns 24% of ecommerce giant Alibaba, reaps revenues prior to the IPO. Yahoo's investment in Chinese e-commerce firm Alibaba Group Holding Ltd was sufficient to keep Wall Street happy despite the continued struggle in the third quarter for advertising revenues, The shares of Yahoo increased by 1% to USD33.
China
Chukong raises USD50 million in Series D funding, denies IPO rumors
A total of USD50 million in investment funding was received by mobile game developer Chukong Technologies from backers including GGV capital and Sequoia Capital.
Russia-China Investment Fund to acquire forests products group
The Russia China Investment Fund acquired the Russian Forest Products Group. The Russia-China Investment Fund had announced the completion of an acquisition of an approximately 42% stake in RFP Group, a leading forestry holding firm in the Far Eastern region of Russia.
Rosneft inks MOU with CNPC for East Siberian venture stake purchase
Russian oil firm Rosneft signed an agreement with China National Petroleum Corp for the latter to purchase a 49% stake in the Russian oil producer's East Siberian venture.
Dianping.com value higher than Yelp or Groupon - CEO
According to its CEO, Dianping.com's value is higher than Groupon and Yelp or about USD10 billion.
Latest News
The plan is to raise funds from a share sale of Huaneng Renewables Corp. Wind farm operator from China, Huaneng Renewables Corp, is planning to raise HKD1.
Wumart Stores was said to be in discussions with CP Lotus to buy the latter's units, according to a source who told Bloomberg.
The Wall Street Journal reported that China could allow foreign companies to sell shares in the free trade zone in Shanghai.
Alibaba planned to transform with the Chinese retail industry by increasing online transactions to almost USD 490 billion.
According to German paper Welt am Sonntag, Deputy Chairman Guo Ping of Huawei said that the telecoms network does not intend to engage in any takeover plans.
Taiwanese and Chinese ties strengthened with new equity exchange center in Fujian, China. A cross strait equity exchange center in Fujian is being set up by China and Taiwan.
The US is the next frontier for ZTE, as it partners with the NBA's Houston Rockets. The third largest smartphone seller in China, ZTE Corp, had laid out plan to become the one of the top three handset companies in the the next three years.
State-backed China National Offshore Oil Corp might have overpaid for the acquisition of Canada-based Nexen Inc, according to a Reuters special report.
GAIL India agrees to sell off shares through block sales in China Gas Holdings. GAIL, the state-run gas company, had offered to sell USD65 million worth of stocks in China Gas Holdings Ltd.
