A unit of China's Guosen Securities in Hong Kong have defaulted on a dim sum bond. However, analysts doubted the default as the brokerage is in a strong cash balance.
Tags: China
Alibaba’s Alipay Will Launch European Expansion This Summer
Alipay is working on a plan to launch services in Europe this summer. The service will make it easier Chinese tourists to make transactions with European merchants using the app.
Competition Heats Up In China Between Uber And Didi Which Raised Funding Target to Over $1.5 Billion
Didi's target for funding has raised to $1.5 billion to compete with Uber in China. Didi operates in 400 cities and is expected to accelerate to about 10 million at the end of the year.
China OEM Meizu Unveiled Its Long-Awaited m3 note
Meizu already unveiled its newest model m3 note. The Chinese OEM is keeping its concept of quality devices with affordable prices, which makes the brand popular in China’s market.
Credit Suisse Must Take Drastic Measure After $1 Billion Write Down
The Swiss bank which posted first full-year loss last year must take a drastic measure. It has to make another retreat in investment banking.
Latest News
McDonald’s is planning to extend its fast food empire to Asia by opening additional restaurants in Hong Kong, South Korea and China. It is also seeking strategic partnership in Japan and Taiwan.
In the annual Boao Forum for Asia (BFA) last Thursday, Premier Li Keqiang deliver keynote speech. He pledged the government will refrain to intervene in economic and market.
As China has increased its influence in Southeast Asia, U.S. stepped in. United States plan to match China in rebalancing Asia by increasing partnership with ASEAN.
Game developer Ubisoft is expanding its business to the Philippines and will be named Ubisoft Philippines. It will be headquartered in Sta. Rosa, Laguna which is a great geographical site. One reason for the move is the trust established by Filipino employees led by manager Chip Go that was being noticed by Ubisoft Managing Director Oliver de Rotalier.
It's a record for Shanghai Disneyland as its June 16 opening day tickets became sold out after a few hours of selling. Discounts await children, seniors and guests with disabilities including those who will purchase for a two-day event.
Billionaire Lakshmi Mittal-controlled ArcelorMittal is selling three of its US steel operations to Black Diamond Capital Management. As part of the sale deal, ArcelorMittal will offload three units at LaPlace in Louisiana, Harriman in Tennessee and El Paso in Texas. Both companies denied to provide terms of the deal.
El Niño is hitting on cane productions especially in Asia, leading to a global shortage and the rise in prices. This would be the first year of sugar shortage after years of surplus. The shortage is projected to be prolonged to at least next year.
Price of iron ore rallies as China's property market showed further sign of recovery. Surge in the price of iron ore also correlated with increase in steel futures.
Starwood is about to dump Marriott's offer in favor of Anbang's more than $13 billion bid for the acquisition. If the deal pushes through, Starwood will pay Marriott a breakup fee of $400 million. Marriott has been given five days to counterbid.
