BUSINESS >> Economy

Nokia, T-Mobile team up for massive 5G deal

T-Mobile US named Nokia to supply it with $3.5 billion in next-generation 5G network equipment, marking the world's largest 5G deal so far and concrete evidence of a new wireless upgrade cycle taking root.
Source: Reuters-Global Times | 2018/8/3 0:03:40

XPeng raises $587m

China's Xpeng Motors raised 4 billion yuan ($587 million) in its latest fundraising round, valuing the electric car start-up at nearly 25 billion yuan, the company announced on Thursday.
Source: Agencies-Global Times | 2018/8/2 22:03:41

Kenya's Mombasa-Nairobi rail service 'will break even by 2020'

A $3.8 billion railway project linking Kenya's largest port Mombasa and the capital Nairobi is doing well and the railway will reach the break-even point by 2020, an employee of State-owned China Communication Construction Corp (CCCC) has said recently.
Source: Global Times | 2018/8/2 22:03:40

Malaysian exporters to use CCIC for faster access to China market

Exporters in Malaysia are required to utilize the China Certification and Inspection (CCIC) Traceability System for faster access to the Chinese market, according to a report from Malaysian newspaper The Sun.
Source: Global Times | 2018/8/2 21:58:40

Google may launch China search, supervision 'a challenge'

There is a possibility that Google can re-enter the Chinese market with what is reported to be a “censored version of the search engine,” but it will be a huge challenge for Chinese regulators due to the lack of a relevant supervision mechanism, said an analyst.
Source: Global Times | 2018/8/2 21:53:40

HNA explores Radisson sale

State-owned hospitality group Jin Jiang International Holdings Co is weighing a bid for HNA Group Co's US-based Radisson Hotel Group, according to a report from Bloomberg on Thursday, citing sources.
Source: Agencies | 2018/8/2 21:43:39

Huawei beats Apple in global sales, needs one or two years to overtake Samsung

It is not surprising that China's Huawei has overtaken Apple to become the world's number two smartphone seller, as shown by second-quarter data from market research firms, said industry analysts. However, it might take a year or two to shake South Korean Samsung's status at the top.
Source: Global Times | 2018/8/2 21:13:40

China 'fully prepared' for US threat to escalate trade row

China is fully prepared for the US threat to escalate bilateral trade tensions and has to take countermeasures in response to safeguard the nation's dignity and the public interest, to defend free trade and the multilateral system, and to protect the common interest of countries around the world, the Ministry of Commerce (MOFCOM) said on Thursday.
Source: Global Times | 2018/8/2 21:03:40

CPEC benefits multinationals, Pakistani firms

Since the beginning of the massive China-Pakistan Economic Corridor (CPEC) construction project, there has been occasional criticism, including some complaints that projects under the CPEC are only available for Chinese companies. But business leaders from multinationals and local Pakistani firms in Karachi paint a very different picture.
Source: Global Times | 2018/8/2 20:08:40

Chinese stocks drop more than 2 percent on trade war woes

Chinese stocks registered the largest daily slide in months, after concerns over an escalation of the China-US trade war caused the stock market to lose over 2 percent on Thursday.
Source: Global Times | 2018/8/2 20:08:39

Beijing to trim shared bikes

Beijing Transport Authority will continue to control the flow of shared bikes in the city and will unveil a platform to supervise the industrial overcapacity by the end of this year, domestic news site reported on Thursday.
Source: Global Times | 2018/8/2 19:48:40

Consumption contributed 78.5% to China's economic growth

China's consumption sector was stable in the first half of the year (H1), greatly contributing to the country's economic growth, data from the National Development and Reform Commission showed on Thursday.
Source: Global Times | 2018/8/2 19:48:40

China says talks with Norway could be accelerated to safeguard free trade system

Free trade talks between China and Norway could speed up, the Chinese government's top diplomat told his Norwegian counterpart, according to Reuters.
Source: Reuters-Global Times | 2018/8/2 19:48:39

China steps up crackdown on counterfeit goods

China's market regulator on Thursday vowed to intensify crackdowns on the production and sale of counterfeit and shoddy goods after alleged violations by online group discounter Pinduoduo sparked heated discussion.
Source: Xinhua | 2018/8/2 18:26:49

China increasingly attractive to investors as business environment improves

Foreign direct investment (FDI) into the Chinese mainland was optimized in quality and quantitative growth, thanks to an improved business environment, officials and experts said.
Source: Xinhua | 2018/8/2 17:53:54

Finalists of US innovation contest to vie for funds, business opportunities in China

Six American firms that emerged from a national innovation competition in the United States will travel to China later this year to vie for investment and more business opportunities in the world's second-largest economy, organizers said Wednesday.
Source: Xinhua | 2018/8/2 14:33:14

S.Korea's online shopping posts double-digit growth on rising mobile food delivery

Online shopping in South Korea posted a double-digit growth in the second quarter on rising demand for food delivery via mobile phones, a government report showed Thursday.
Source: Xinhua | 2018/8/2 14:32:18

US Fed leaves interest rates unchanged amid trade concerns

The US. Federal Reserve on Wednesday left key interest rates unchanged amid concerns about trade tensions between the United States and its trading partners.
Source: Xinhua | 2018/8/2 9:36:58