BUSINESS >> Companies

Property firms make dash for overseas cash

Cash-strapped Chinese real estate developers continued their overseas hunt for money in January, as tighter regulation at home made it harder and costlier to raise domestic funds, according to a report on Thursday.
Source: Global Times | 2018/2/8 19:33:39

A parcel full of warmth

PepsiCo Kicks off 2018 “Bring Happiness Home – Postal Parcel for Mothers” Charity Program
Source: Global Times | 2018/2/8 18:58:39

Peak Sport launches Winter Olympic Collection

The Peak Winter Olympic Collection Release Conference themed “Meet the Peak Moment” took place in Beijing on January 31.
Source: Global Times | 2018/2/8 16:33:39

Daimler AG apologizes to Chinese Ambassador to Germany for quoting Dalai Lama

The headquarters of German multinational Daimler AG, the parent company of Mercedes-Benz, has apologized to the Chinese Ambassador to Germany for its subsidiary's quoting of the Dalai Lama, who is considered a separatist in China trying to split up the country, in an earlier post on Mercedes-Benz's main Instagram account, the Xinhua News Agency reported late on Wednesday night.
Source: Global Times | 2018/2/8 12:48:39

Cisco, Samsung to start 5G wireless service trial in Europe

US major networking hardware manufacturer Cisco Systems said Wednesday that it is teaming up with South Korean conglomerate Samsung to start a trial of 5G wireless technology in 2018 across multiple homes in Romania.
Source: Xinhua | 2018/2/8 9:53:46

Elon Musk's company among initial bidders for Chicago's airport express train

Elon Musk's Boring Company is among the four respondents that want to build and operate an express rail system from Chicago's O' Hare International Airport to downtown, Chicago mayor's office confirmed on Wednesday.
Source: Xinhua | 2018/2/8 9:52:59

Gotta have it

A consumer tries on a gold ring at a store in Shanghai on Wednesday prior to the Spring Festival holidays. China's expanding middle class is driving robust demand for gold products such as rings, bracelets and necklaces. The retail price for gold bars and coins made by Chow Tai Fook stood at 338 yuan ($53.95) per gram on Wednesday. In 2017, China became the world's largest market for gold bars and gold coins, with demand surging 8 percent year-on-year to 306.4 tons. Photo: VCG
Source: VCG | 2018/2/7 22:08:40

Payment firms punished

Third-party payment institutions including Alipay and Tenpay have been fined for violating rules in cross-border payments, according to a report in a magazine published by the State Administration of Foreign Exchange on Wednesday.
Source: Global Times | 2018/2/7 22:08:39

Over 40% of cross-border cosmetic goods fake, says consumer association report

More than 40 percent of the cosmetic products purchased through cross-border e-commerce platforms during the November 11 Shopping Festival of 2017 were counterfeit, and changing and refunding of those fake goods has been far more difficult compared with those (bought via domestic channels), according to a report issued by the China Consumer Association on Wednesday.
Source: Global Times | 2018/2/7 21:58:40

Outrage over Mercedes-Benz Dalai Lama blunder persists despite apology

German luxury car maker Mercedes-Benz moved swiftly to issue an apology after a post on its Instagram account quoting the Dalai Lama, who is considered in China a separatist trying to split the country, sparked outrage among Chinese consumers. However, criticism of the company persisted on Chinese social media platforms on Wednesday.
Source: Global Times | 2018/2/7 21:33:39

Huawei procurement in the UK

Huawei said on Tuesday it will spend a further 3 billion pounds ($4.2 billion) on procurement in the UK as the world's largest telecom equipment maker seeks alternatives to the US.
Source: Global Times - Reuters | 2018/2/7 21:23:39

Stake in Bangladesh exchange

A consortium of China's Shenzhen and Shanghai stock exchanges is the front-runner to buy a 25 percent stake in Bangladesh's Dhaka Stock Exchange (DSE) for about 9.92 billion taka ($128 million), Bangladesh news site reported on Wednesday.
Source: Global Times - Reuters | 2018/2/7 21:18:40

CMPort invests in Australia

China Merchants Port Holdings Co (CMPort) announced on Wednesday that it had entered an agreement with China Merchants Union Ltd and Gold Newcastle Property Holding to acquire their interest of 50 percent in Australia's Port of Newcastle for a total consideration of A$607.5 million ($478.35 million).
Source: Global Times - Reuters | 2018/2/7 21:18:40

HNA 'misses payment' on $272m loan as liquidity pressure mounts

An HNA Group company has failed to make an early payment it had agreed to on a 1.7 billion yuan ($271.9 million) trust product that falls due next week, two sources with direct knowledge of the situation said, the latest indication of financial stress at the highly leveraged conglomerate.
Source: Reuters-Global Times | 2018/2/7 21:18:39

Didi car-sharing

Didi Chuxing on Wednesday launched its car-sharing platform in a partnership with automakers, new-energy transportation infrastructure operators and after-sales service providers, to build an open new energy car-sharing system.
Source: Xinhua-Global Times | 2018/2/7 21:13:39

Apple to build another data center

Apple Inc will build a data center in Ulanqab in North China's Inner Mongolia Autonomous Region, following the establishment of its first data center in Southwest China's Guizhou Province, Ulanqab government has announced.
Source: Global Times - Xinhua | 2018/2/7 21:08:40

Apple physical stores in mainland to accept Alipay, Huabei loan tool

China's online mobile payment tool Alipay announced on Wednesday that Apple Inc will accept its payment system in Apple's stores in the nation, effective immediately, making it the first third-party mobile payment system to be adopted by the US-based company's physical stores.
Source: Global Times - Xinhua | 2018/2/7 21:08:39

The Ritz-Carlton, Beijing Club Level offers travelers an elevated “hotel within a hotel” experience

There has never been a better time to treat yourself and your loved ones to a relaxing holiday. The “Treat You” package brings guests the luxury accommodations and amenities of the Club Level.
Source: Global Times | 2018/2/7 17:33:39