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Uber spinning its wheels around the world


US ride-hailing services provider Uber Inc has a world of issues to face.


China announces special rules on policy banks

China's banking regulator released special rules for the country's three policy banks for the first time on Wednesday, featuring a capital restraint mechanism to strengthen risk control.
Source: Xinhua | 2017/11/16 3:35:03

Samsung expands Xi'an chip facility to build global semiconductor base

Construction of the second phase of Samsung’s memory chip facility in Northwest China’s Shaanxi Province has started, and it is expected to help Xi’an forge an industrial cluster worth billions of yuan and cement the city’s position as a global semiconductor industrial base.
Source: Global Times | 2017/11/15 22:23:40

High-income status in 2025

China will be able to achieve high-income status by 2025, two years earlier than previous expectations, domestic media reports said on Wednesday, citing a new report from Morgan Stanley.
Source: Global Times | 2017/11/15 22:18:39

Figuratively Speaking

17.3m Global wearable band shipments in the third quarter, with Apple retaking the lead with shipments of 3.9 million, data from global market consulting company Canalys showed.
Source: Global Times | 2017/11/15 22:13:40

China to further open up

China will further open up while pushing forward supply-side reform, an official from the Ministry of Finance told the audience at a summit on Wednesday.
Source: Global Times | 2017/11/15 22:13:40

Chile gets Chinese-made electric buses

The first batch of Chinese-made electric buses has been incorporated into the public transit fleet of Santiago, Chile’s capital, the Xinhua News Agency reported on Wednesday.
Source: Xinhua-Global Times | 2017/11/15 22:13:39

Maoyan raises $150m from Tencent

Maoyan, one of China's biggest online ticketing platforms, on Wednesday said it has secured 1 billion yuan ($150.82 million) in funding from Tencent Holdings, valuing the company at 20 billion yuan.
Source: Reuters-Global Times | 2017/11/15 22:08:41

Officials to become directors at policy banks

China’s policy banks are to get additional directors from domestic ministries and commissions, and external boards of supervisors will also help to improve governance mechanisms.
Source: Global Times | 2017/11/15 22:08:41

Comment sought on exchange deal

The US Securities and Exchange Commission (SEC) on Tuesday asked for public comment on a revised takeover proposal of the privately held Chicago Stock Exchange by a group led by a China-based investor after two other investors from China dropped out of the consortium.
Source: Reuters-Global Times | 2017/11/15 22:08:40

Sichuan power company denies reports of ban on Bitcoin mining

A State-owned electric company in Southwest China’s Sichuan Province has denied a reported local ban on Bitcoin mining on Wednesday, saying that “it does not have the right to determine whether Bitcoin mining is legitimate or not in China,” financial news website caixin.com reported on Wednesday.
Source: Global Times | 2017/11/15 22:08:40

Shanghai Pharma buys Cardinal

State-owned Shanghai Pharmaceuticals Holding Co has agreed to acquire Cardinal Health Inc's China drug distribution business for $557 million, as it seeks to expand its distribution and retail network nationwide.
Source: Reuters-Global Times | 2017/11/15 22:08:39

Bike-sharing provider Bluegogo bankrupt after months of problems: reports

Chinese bike-sharing services provider Bluegogo has gone bankrupt, media reports said, and its major supplier said the company has been struggling with financial difficulties for months.
Source: Global Times | 2017/11/15 22:03:39

SenseTime, Qualcomm aim for AI role

US-based chipmaker Qualcomm Inc has signed a batch of deals with Chinese companies on Wednesday, including an artificial intelligence (AI) unicorn SenseTime, as experts said that the move is aimed at achieving a better position for the giant in the AI ecosystem as an upstream player in the value chain.
Source: Global Times | 2017/11/15 21:58:39