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.
Tags: China
Samsonite Sales Reach Record at £1.6 billion With £136 million Profit as China Sales Soar
Samsonite saw strong sales in Asia, particularly China, in 2015. The company is not sure about 2016 outlook due to potential challenges, as it moves forward to boost presence in Asian markets.
Yen rise deflates value of Japan's exports to US
The strengthening of Yen is eroding the value of Japan's exports to the US. Its overall exports volume was flat, while the value declined over four percent owing to rising Yen.
China Will Regulate Ride Hailing Services while Indonesia Plan to Ban Them
China will try to draw up rules to regulate ride hailing service as the market has grown very big. Meanwhile Indonesia transportation minister plan to ban Uber and GrabTaxi.
US Fed may leave interest rate unchanged for now
A two-day policy meeting of US Federal Reserve will conclude on Wednesday. US Fed Chair Janet Yellen is expected to keep short-term interest rate unchanged for now and may go for a hike in June.
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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.
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 lower threshold for foreign investment and advance the revision on relevant regulation. China targets to attract more foreign investment in the country.
The world's second largest economy will lower threshold for foreign investments in 2016. The Commerce Ministry of China has confirmed that the government is in the process of lowering the limit on foreign investment for 2016 year. China recorded 6.4 percent growth in foreign direct investment during 2015.
Due to some investors' difficulty in transferring their cash out of mainland China, Zheshang Bank has decided to postpone their $1 billion Hong Kong IPO.
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.
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.
