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.
Tags: China
Cotton piles up at warehouses globally
The world stockpiles of cotton are piling up giving less scope for investors on price rise. Cotton prices witnessed first weekly drop since November.
Alibaba Ventures into the Print Media Business Buying The South China Morning Post For Around $262 million
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.
Qualcomm requires Three-Year stake holding before nominating for proxy
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 confirms $1.5 billion fund raising round
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.
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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.
One of the largest property developers in China, Evergrande Real Estate Group Ltd., acquired 50 percent share from Great Eastern Life Assurance Co for 3.9 billion yuan, or $610 million, to get into the insurance industry.
The skyrocketing oil inventories are paving the way for more traffic jams on the seashores as oil tankers are queuing up along the US Gulf Coast. The uncompromised Opec's decision to continue its production level coupled with shale production in the US is adding to huge volumes of inventories.
Apple Pay is stealing consumer's loyalty in multiple countries. After the introduction of rival services Samsung Pay and Google's Android Pay, Apple Pay also considers the need to expand itself, especially to China which represents as significant business opportunity for mobile-payments systems.
Australian Prime Minister Malcolm Turnbull urged Chinese Premier Li Keqiang to hasten environmental tests of sulfur content on coal imports as Australian exporters claim that the new standards disrupts the trade and drives down the already low prices.
The world's largest and second largest economies have established 'Space Hotline,' a new communications channel to serve as a diplomatic safety valve.
