Alipay, an online payment affiliate of Alibaba Group Holdings Ltd., has struck a deal with Sina Corp. to launch and online payment service as competition rises between Alibaba and rival Tencent Holdings Ltd. Alibaba last year bought an 18% stake in Sina Weibo.
Country
Western oil and gas companies flock to China to explore shale gas resources
Oil and gas companies in the West, like that of Scotland-based Weir Group, are heading to China to bet on the birth of the country's shale gas industry, the Financial Times reported.
Yahoo chief reveals acquisition of San Francisco startup Aviate
Marissa Mayer, the Chief Executive Officer (CEO) of Internet giant Yahoo has revealed the acquisition of Aviate, a San Francisco-based startup that automatically organizes apps on a phone's home screen.
There is still compelling case to invest in the US- FT
Although many believe that the US has started to lose its power and influence because of stagnating economy, a Financial Times report believes that compelling evidence abounds that refute this claim.
Borrowing costs for Eurozone's crisis-hit countries fall
Borrowing costs for the Eurozone countries that experienced the brunt of the crisis dropped after a high demand from investors for 10-year bonds offered by the Irish government, the Financial Times reported.
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State-owned investment firm Temasek Holdings Pte. Ltd. is considering to offer bonds to individual investors in Singapore. Temasek's current $10 billion medium-term bond program offers securities to institutions.
China's State Council has suspended the ban the government had put in place for 14 years which barred the selling of foreign video game consoles, potentially opening doors for technology firms to enter the Chinese video game market, Reuters reported.
China's state-owned Greenland Holding Group will invest £1.2 billion ($2 billion) on two property projects located in Wandsworth and Canary Wharf in London. The real estate developer is also looking to enter Canada, France and Singapore this year.
Mitsubishi Motors Corp., which was bailed out by other Mitsubishi companies almost a decade ago, seeks to raise up to ¥241.6 billion ($2.3 billion) in a share sale. The said proceeds will enable it to resume dividend payments for the first time in more than 15 years.
Hedge funds have increased their bullish gold bets amid predictions given by analysts that the price of the bullion will continue to go down this year, Bloomberg reported.
Japan-based tech giant Toshiba agreed to buy a 26% stake in India-based water and wastewater management firm UEM India Private Ltd in a deal with undisclosed financial details.
Denmark-based oil and shipping conglomerate AP Moeller Maersk AS said it will reduce its ownership in Dansk Supermarked and F. Salling in a deal that will generate proceeds of about DKK17 billion.
Altice, founded by French-Israeli phone-industry entrepreneur Patrick Drahi, seeks to raise €750 million ($1 billion) in an initial public offering at the Amsterdam Stock Exchange. Proceeds from the deal will be used to reduce its debt.
Citing sources, Bloomberg reported that Germany-based Deutsche Bank had hired Yusof Annuar Yaacob, Malaysia's Chairman for Corporate Finance of Goldman Sachs Group Inc, to become the lender's country head in Malaysia.
