Volkswagen unveiled Phideon as its new luxury car today, ahead of Geneva International Motor Show. The successor of Phaeton will only be sold in China.
Tags: China
Silicon Valley on India: Striking The Iron While It's Hot
There is a saying "Strike while the iron is hot". That is what Silicon Valley is doing - investing big in India where the economy grows faster.
Zimbabwe Government Robbed of Wealth, Takes Control of Diamond Mining Fields
The Zimbabwe government will now take control all of the mining fields in the country as the state is being robbed of its wealth. Billions of dollars have been stolen from the nation's treasure chest because of smuggling and swinding according to President Mugabe.
Uber Spends and Losses Big on International Expansion, Challenged by Regulations and Rivalry
An official filing revealed that Uber is facing huge loss in its international operation, as the company spent big on global expansion. The main factors of the loss are regulatory obstacles and local rivalry.
China Will Relax Measures on Foreign Investment in High Tech and Green Industry
China will lower threshold for foreign investment and advance the revision on relevant regulation. China targets to attract more foreign investment in the country.
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Earlier this month, Chinese state-owned company ChemChina reached an acquisition deal of $43 billion with Swiss company Syngenta. After clearing regulation requirements in China, ChemChina is now seeking out loans of more than $35 billion from bankers to fund the purchase.
Alibaba plans of expanding and venturing into other business the reason it is seeking $4 billion in loans. It is already in talks with several banks and the request will be finalized by next month.
Did Kuaidi, the largest ride-hailing service in China is about to raise $1 billion the same amount that Uber spent last year for its expansion. It is going to be a tough competition for both companies since they are being backed up by other large companies such as Alibaba and Tencent Holdings Inc.
PBOC governor Zhou Xiaochuan is confident to say that China's economy is healthy along with the assurance that yuan will not be devalued again and that the country has enough monetary tools to support the economy.
China’s leading developer and operator of integrated casinos in Macau, Sands China, anticipate the casino industry recovery after a prolonged decline in revenues. The company is also preparing to finish its newest project, The Parisian Macao, to be launched later this year.
Former Hong Kong music popstar turned venture capitalist Andrew Chung established his own firm 1955 capital. With a $200 million fund, he expects to bring clean technology to China.
The newly-elected managing director of the IMF, Christine Lagarde, spoke at the Global Women’s Forum 2016 regarding the global economy, especially in the wake of the China economic slowdown. Despite the prolonged slowdown, the IMF foresee that China’s lower growth was deliberate and healthy.
China has unveiled a series of new initiatives to push its economy growth rate. The government is keen on meeting the increasing demand in small and medium-sized homes. Another set of new rules for accelerating reforms at state-owned enterprises will be announced soon.
Asian shares fell back from a seven-week high on Tuesday as oil prices fell more than 2 percent. The sudden drop happened after the Asia-Pacific indices rose to its highest level since the beginning of the year, after seeing the rise in oil prices before reversing back.
