BIZ

Safety of overseas Chinese projects requires more attention as terrorism surges


Early in February, a shooting incident took place in Karachi, Pakistan. Chen Zhu, an employee of an affiliate of China's COSCO Shipping Lines in Pakistan was killed.


Virtual red envelope trend grows

More domestic internet titans have joined the trend of sending digital red envelopes, or cash gifts, ahead of this year's Chinese lunar new year season, which begins on Friday. Handing out the free cash can attract users to online platforms and thus boost network flow to related products.
Source: Global Times | 2018/2/13 21:33:39

HNA Group selling assets to raise cash

Domestic conglomerate HNA Group, which in recent years expanded its assets via debt-fueled acquisitions of overseas property and companies, is now selling off real estate assets to raise cash, leading observers to speculate that the company is having financial problems amid a push by the Chinese government to reduce leverage in the economy.
Source: Global Times | 2018/2/13 21:08:39

Mexican bank seeks Chinese partners for project finance

Mexican banking and financial group Interacciones is looking to work with Chinese companies on financial backing for infrastructure, energy and transport projects in Mexico, according to the group's general director Carlos Rojo.
Source: Reuters-Global Times | 2018/2/13 20:57:47

GM to shut one S.Korean plant, more restructuring could follow

General Motors Co said it will close one of its four plants in South Korea and incur an $850 million impairment charge as part of a restructuring of its money-losing business in Asia's fourth-biggest economy.
Source: Reuters-Global Times | 2018/2/13 20:57:47

No discounts? No problem! New year drives liquor sales

With the approach of the Chinese lunar new year, which falls on Friday, baijiu or white spirits – a must-buy for most Chinese – are even more popular than last year. Experts said that the increasing demand, which has developed despite higher prices and fewer promotions, is mainly due to a shift in Chinese people's consumption patterns.
Source: Global Times | 2018/2/13 20:57:46

Didi partners with SoftBank into Japan market

China's Didi Chuxing and SoftBank Group Corp will roll out a venture in Japan later this year to provide ride-hailing services. The move into Japan underscores a recent push by Didi to expand in markets outside China, although it will face challenges in Japan, where existing taxi companies are lobbying hard against deregulation.
Source: Reuters-Global Times | 2018/2/13 20:57:46

Chinese banks bid for Germany lender

Bank of China (BOC) and Industrial and Commercial Bank of China (ICBC) are among the potential bidders for German transport finance lender DVB Bank, three sources familiar with the matter said.
Source: Reuters-Global Times | 2018/2/13 20:53:40

China Eastern deal

China Eastern announced on Tuesday that it had signed a strategic cooperation framework with developer Vanke Group involving sectors such as property, air transport and finance, the Securities Times reported on Tuesday.
Source: Global Times | 2018/2/13 20:53:40

Ant 'to raise $5b'

Ant Financial Services Group, the financial arm of technology company Alibaba Group, is planning to raise up to $5 billion in its latest series of fundraising, the Wall Street Journal reported on Tuesday, citing sources close to the matter.
Source: Global Times | 2018/2/13 20:53:39

Figuratively Speaking

7 Stocks included in the MSCI China A International Index such as Hangzhou Bank, effective March 1. Meanwhile, three stocks were excluded from the index.
Source: Global Times | 2018/2/13 20:48:39

Chinese firms forecast to sell more dollar bonds

Chinese companies are expected to raise more funds in the global dollar bond market this year after robust issuance in 2017, even as inflation fears trigger speculation that major central banks might raise interest rates more aggressively.
Source: Reuters-Global Times | 2018/2/13 17:53:39

Cryptocurrency traders to launch lawsuit against Coincheck

A group of cryptocurrency traders will file a lawsuit against Coincheck Inc on Thursday over last month's theft of $530 million in digital money from the Tokyo-based exchange, a lawyer representing the claimants said.
Source: Reuters-Global Times | 2018/2/13 17:48:40

Stocks extend rebound as global markets find footing

Chinese stocks rebounded on Tuesday as global equity markets appeared to regain some footing after last week's heavy sell-off. Sentiment was also aided by signs of government support and record bank lending in January.
Source: Reuters-Global Times | 2018/2/13 17:48:40