BUSINESS >> Companies

Alibaba Cloud, Eficode jointly open innovation center in Finland

Alibaba Cloud, a cloud computing company affiliated to Chinese internet giant Alibaba Group, and Eficode Oy, a leading Finnish digital company based in Finland, jointly opened an innovation center in Helsinki on Thursday.
Source: Xinhua | 2017/12/1 8:21:45

PPP Securitization

Chinese experts and industry experts said on Thursday that there will be huge potential for the securitization of private-public partnership (PPP) projects along the Belt and Road (B&R) initiative, given the massive financing required for these projects, the Shanghai Securities News reported.
Source: Global Times - Xinhua | 2017/11/30 22:43:40

Wanda drops resort stake

Chinese conglomerate Dalian Wanda Group has withdrawn its 20 billion yuan ($3.02 billion) investment from White Mountain Resort, but it will retain its role as the operator of the facility in Northeast China's Liaoning Province.
Source: Global Times - Xinhua | 2017/11/30 22:43:39

Mobike, ofo deny rumors, reports that they face financial pressure

Mobike and ofo, China's leading bike-sharing service providers, on Thursday denied that they face any cash strains despite recent rumors to the contrary.
Source: Global Times | 2017/11/30 22:38:40

Karachi power station opens, part of CPEC

The first unit of a coal-fired power plant built by PowerChina was inaugurated on Wednesday in Port Qasim, Karachi, Pakistan, a key project in the China-Pakistan Economic Corridor (CPEC), the Xinhua News Agency reported.
Source: Global Times | 2017/11/30 22:38:39

Peru hydropower plant gets China funding

China Three Gorges Corp and China Development Bank (CDB) have signed an agreement on financing a hydroelectric power project in Peru, news site hanqiu.com reported on Thursday.
Source: Global Times | 2017/11/30 22:33:40

HNA hits back after S&P downgrades credit rating

Chinese conglomerate HNA Group on Thursday pushed back a report from S&P Global Ratings that cut the company's credit assessment, saying S&P's assessment does not fully reflect the company's businesses.
Source: Global Times | 2017/11/30 22:33:40

RYB Education reports strong earning in 3rd quarter, but shares decline

RYB Education, a NASDAQ-listed early childhood education service provider in China that has been under fire in China for child abuse allegations at one of its kindergartens in Beijing, reported strong third-quarter results on Thursday, but its share price still declined.
Source: Global Times | 2017/11/30 22:33:39

Tech stock rally hogs global market spotlight

Soaring shares of Apple Inc, Alphabet Inc and Tencent Holdings this year have made technology firms top global performers, with few signs that investors are worried that rising valuations might be increasing the risk of a downturn.
Source: Reuters | 2017/11/30 21:42:04

RYB education saw 39 percent revenue growth in Q3; stock stable in afterhours trading

RYB Education, a NASDAQ-listed early childhood education service provider in China that recently became stuck in a child abuse scandal, earned a revenue of $37.4 million in the third quarter, up 39 percent year-on-year, according to the company's Q3 financial report released on Thursday.
Source: Global Times | 2017/11/30 13:48:39

HNA says S&P's downgrading of many Chinese companies' credit ratings is one-sided

S&P Global Ratings has downgraded the credit ratings of many Chinese companies. One of those companies includes HNA Group, which, in response to the lowering of its creditworthiness from B++ to B, said on Thursday that the move is one-sided and subjective.
Source: Global Times | 2017/11/30 13:33:39

Daimler rejects Geely

Daimler AG has rebuffed an offer from China's Geely to take a stake of up to 5 percent via a discounted share placement due to long-held reluctance to see existing shareholdings diluted, people with knowledge of the discussions said.
Source: Global Times - Agencies | 2017/11/29 21:38:40

GAC Group, Denso deal

Chinese automobile company GAC Group announced on Tuesday night that it has signed an agreement with Japan's Denso Corp to cooperate on a wide range of areas in the car industry.
Source: Global Times - Agencies | 2017/11/29 21:38:40

Lynk & Co cars in Belgium, US

China's Zhejiang Geely Holding Group Co and its Volvo Cars unit are considering making Lynk & Co brand vehicles at Volvo plants in Belgium and the US state of South Carolina, a senior Lynk & Co official told Reuters on Wednesday.
Source: Global Times - Reuters | 2017/11/29 21:38:40

CRRC's deal with Rolls-Royce

Rolls-Royce Power Systems and China Railway Rolling Stock Corp (CRRC), the world's largest rolling stock manufacturer, have signed an agreement to deepen their partnership, according to a statement sent to the Global Times on Wednesday.
Source: Global Times - Reuters | 2017/11/29 21:38:39

Xunlei to take measures against illegal virtual currency trade

The board of Xunlei Networking Technologies Co, a large Internet company in China, said on Wednesday that it would act to contain any potential illegal activity involving its cryptocurrency project.
Source: Global Times | 2017/11/29 21:28:39

India's RCom restructuring plan clouded by CDB insolvency action

Indian telecom player Reliance Communications' (RCom) planned debt restructuring could be complicated by China Development Bank's (CDB) triggering of insolvency action against the company.
Source: Reuters | 2017/11/29 21:23:39

Chinese company to upgrade key highway in Ukraine

A state-owned Chinese company Sinohydro Corporation Ltd on Tuesday signed an agreement with Ukraine's state road agency Ukravtodor to upgrade the Kiev-Chop highway, which connects the capital of Ukraine with the city on the Hungary's border.
Source: Xinhua | 2017/11/29 8:49:30