The SCMP Group finally closed the deal with Alibaba at a whopping US$262 million approximately. After many rounds of rumors, the Chinese company has announced that Alibaba has agreed to venture into the news business acquiring The South China Morning Post. This Hongkong based newspaper and the other assets of the SCMP Group including the Elle and Esquire sister concern publications and websites will cost Alibaba a big sum of more than $2 million.
Tags: China
Samsung announces the new Galaxy A9 with 6 inch display
Samsung has announced the new high-end smartphone in the Galaxy A lineup, called the Galaxy A9. The new smartphone was announced this week in the Galaxy A Party event in China after its specifications and design were leaked for several times in the past few weeks.
BNP Report: Alibaba Can Expand Operations with $38B in 2016
If you haven't heard of it, Alibaba is a Chinese e-commerce company that started as a e-marketplace and now has grown to offer other services like electronic payment and cloud computing. They've become one of the biggest companies in China and now, they have even more money to expand with possibly $38 billion available for deals next year.
Renault-Nissan’s CEO: Electric vehicle is an affordable solution to reduce global emissions
The 13 automotive CEOs across the world including the Renault-Nissan Alliance has released the statement on the weekend over the commitment to reduce global emissions by providing cleaner transportation.
Airbus owners reach out future operators for Singapore Airlines’ planes
The owners of five Airbus A380s leased to Singapore Airlines Ltd, Dr. Peters Group and Doric, have begun seeking for potential future operators for the A380s as the Singapore Airlines is still evaluating whether to extend the leases.
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Qualcomm Inc. altered its proxy process requiring shareholders to have their stake in the company for at least three years before nominating people for the board.
Airbnb, the US home-sharing startup, has confirmed closing of $1.5 billion fund-raising round. The latest closure of fundraising puts the unicorn startup at staggering valuation.
The capital outflows from the world's second-largest economy registered record level in November. The capital outflow grew almost three times in November from October.
Uber Technologies Inc. said it had been given approval from Jakarta governor to operate as a fully legal entity in the Indonesian capital, assuming it meets local tax rules and other requirements laid out by the government.
Hong Kong's international financial hub is reeling under pressure as the world's largest and second largest economies are impacting it more in a negative way.
On Thursday, the new market forecast said that global smartphone sales growth will cool to single digits for the first time amid the China's economic slowdown. IDC predicted the 9.8% increase in global smartphones shipment to a total of 1.43 billion units. Android dominates the market share with 81.2% with Apple holding only 15.8%.
China shows support to its long-time ally, Africa, by providing the continent funding support worth $60 billion.
The Huawei Mate 8 was recently released in China, sporting a 6-inch display, a fingerprint scanner and more.
In order to ensure faster processing of foreign arms sales in the US, the government is putting immense effort. In the financial year 2015, the foreign arms sales heaved 36% to 46.6 billion. Besides, as per pentagon official's view, the sudden surge expected to remain strong in the coming years.
