 EconomyLoop where regional business news becomes global to everyone  | ||
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| Apple lifts lid on iPads ahead of TV, video launch Apple Inc, in a surprise move yesterday, launched a new 10.5-inch iPad Air and updated its iPad Mini ahead of a March 25 event where it is expected to launch a television and video service.... read more
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| Our wearables get smart China’s wearable device sales grew 30 percent year on year in the fourth quarter, with booming demand for products targeting the youth market and wireless headphones, US analyst International Data Corp... read more
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| Lowering corporate burden pays off China’s sustained efforts to lower the corporate burden will help stabilize employment, investment and growth expectations, said Bai Jingming, vice president of the Chinese Academy of Fiscal Sciences.... read more
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| Board open for sci-tech applications The Shanghai Stock Exchange started accepting listing applications for its new science and technology innovation board yesterday.... read more
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| Shanghai’s index nears 3,100-mark Shanghai’s stock market neared the 3,100-point level yesterday, boosted by consumer and liquor shares.... read more
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| Commercial bank forex deficit US$15b China’s commercial banks saw a net forex settlement deficit of 101.3 billion yuan (US$15 billion) in February, the country’s forex regulator said yesterday.... read more
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| Fiscal revenue jumps 7% for first 2 months China’s fiscal revenue rose about 7 percent year on year to 3.91 trillion yuan (US$582.6 billion) in the first two months of 2019, official data showed yesterday.... read more
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| SEC sues VW over emissions scandal US stock regulators are suing Volkswagen over the emissions cheating scandal, alleging the German automaker committed fraud by raising billions in corporate bonds while lying to investors about the environmental... read more
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| FIS forms global fintech powerhouse for US$35b US fintech Fidelity National Information Services Inc has agreed to buy payment processor Worldpay for about US$35 billion, the biggest deal to date in the fast-growing electronic payments industry.... read more
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| Netflix facing a challenge from host of rivals Some of the biggest names in media and tech are gearing up to move into streaming, in what could be a major challenge to market leader Netflix. Apple is expected to make its move with an announcement... read more
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| Game on: Google looks set to transform Internet game play Google is looking to transform Internet-age game play, with an expected launch of a streaming service which uses the tech giant’s power in the Internet cloud.Tomorrow is expected to see the debut of a... read more
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| Amazon clears key hurdle in proposal for 2nd HQ Amazon.com Inc’s planned second headquarters in northern Virginia has cleared a key test after local officials approved a proposed financial package worth an estimated US$51 million amid a small but vocal... read more
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| Deutsche, Commerzbank mull creating a ‘national champion’ Germany’s two biggest lenders, the ailing Deutsche Bank and Commerzbank, said yesterday they would launch formal talks toward a possible merger that could create a “national champion” in financial services.Chancellor... read more
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| Politics sees French bubbly going flat Brexit and France’s “yellow vest” protest movement pushed the number of bottles of French champagne sold last year to its lowest since 2004, trade group data showed yesterday. The Comite Interprofessionnel... read more
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| Qualcomm in win over Apple on chip patents US smartphone chip titan Qualcomm has won a US$31 million verdict in its multi-front war with Apple over patented technology used in iPhones. A jury in a federal court in Southern California ordered... read more
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| Smartphone sales in China spiralling down China’s smartphone shipments fell 20.1 percent year on year in February to 13.99 million units, data from the China Academy of Information and Communications Technology showed.Last month, smartphones... read more
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| Tax relief for earnings from abroad China announced specific rules concerning tax exemption to reduce the amount of individual income tax paid on incomes earned overseas.According to the rules jointly unveiled by the Ministry of Finance... read more
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| Businesses welcome law on foreign investment China’s newly passed foreign investment law will benefit foreign investors and companies, and will help improve the country’s business environment, experts said. China’s national legislature on Friday... read more
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| Palace, courtyard and garden in a supreme complex The imperial Forbidden City in Beijing. The imposing folk residence Qiao Family Compound in Shanxi Province. The exquisite private gardens most unique to areas south of the Yangtze River. Each of the... read more
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| Sydney feeling the pain as Chinese interest slows As property prices rocketed toward the heady peak of Sydney’s real-estate boom in 2017, the bulldozers came to Epping.... read more
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| Reform to boost foreign demand for leasing A CBRE report has forecast that new office demand in the Chinese mainland is expected to decrease in 2019 amid continuous expansion by technology, media and telecom (TMT) and co-working tenants, further... read more
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| Shanghai retains its place as top 5 world financial centers SHANGHAI has been ranked as one of the top five financial centers in the world again after it overtook Tokyo to move into fifth place of global financial centers in September. Shanghai remained ahead... read more
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| Smooth progress on Tesla plant work THE construction of Tesla’s new factory in Shanghai is going smoothly, according to the city’s officials with direct knowledge of the project. “The assembly workshop is expected to be completed in May,”... read more
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| China economy kicks off 2019 on stable note CHINA’S economy remained stable in the first two months of the year, with economic data showing resilience and progress. The National Bureau of Statistics yesterday unveiled a string of economic indicators... read more
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| Stocks continue slide, Shanghai dips below 3,000 Chinese stocks retreated for a second day, with the benchmark Shanghai Composite Index closing below the key 3,000-point level.... read more
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| HK regulator hits UBS, rivals over IPO mishandling Hong Kong’s securities regulator banned Swiss giant UBS from leading initial public offerings in the city for a year and fined it and rivals including Morgan Stanley a combined US$100 million for due diligence... read more
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| IT fair aims to promote city industry The Shanghai International IT & Electronics Fair, Asia’s biggest information technology fair by space and visitor numbers, will showcase the latest technologies covering chips, artificial intelligence... read more
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| VW unveils rescue plan Volkswagen will cut up to 7,000 positions, aim to boost productivity and deliver 5.9 billion euros (US$6.7 billion) of annual savings at its core VW brand by 2023, in its latest attempt to raise profitability... read more
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| ChiNext slides as bourses reverse rally Chinese stocks fell yesterday, ending a two-day rally, with the top-performing ChiNext Index plunging 4.49 percent.... read more
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| New-energy car sales could stall if subsidies go THE market share of new-energy cars in China could go into “free fall” after 2020 if the government cancels all subsidies, Chen Hong, SAIC Motor’s chairman and a deputy to the National People’s Congress... read more
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| Nation’s ongoing structural reform underpins global economic growth After a visit to China last November, the first thing Moroccan wine merchant Mamoun Sayah did back home was to make plans to expand his vineyard.... read more
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| BASF sees Shanghai in key role German chemical firm BASF yesterday unveiled its new research and development facility in Shanghai to enhance its regional innovation capabilities.... read more
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| Honda cars hit by another airbag recall Honda Motor Co said yesterday it would recall about 1.1 million Honda and Acura vehicles in the United States to replace defective Takata airbags on the driver’s side.... read more
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| US CPI rises for first time in 4 months in Feb US consumer prices rose for the first time in four months in February, but the pace of the increase was modest, resulting in the smallest annual gain in nearly two and a half years.... read more
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| Stocks continue fightback from Friday’s plunge Chinese stocks rallied again yesterday after a major rebound on Monday, with gains across most sectors.... read more
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| Signify sees China as signal market Signify — formerly Philips Lighting — views China as a key market for its production and R&... read more
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| Nissan, Renault vow to revamp Japan deal after Ghosn scandal Japan’s Nissan Motor and France’s Renault have vowed to retool the world’s top car-making alliance to put themselves on more equal footing, breaking up the all-powerful chairmanship previously wielded... read more
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| Backing down in fashion apparel industry Down apparel is traditionally bulky. Warm in winter, yes, but not fashionably chic in the eyes of consumers who aren’t winter sports enthusiasts.... read more
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| GSK Consumer Healthcare is set to accelerate its growth in China The year 2018 has proven to be yet another fertile period for GlaxoSmithKline, one of the world’s leading healthcare companies.... read more
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| Stocks bounce back following Friday plunge Chinese stocks posted a major rebound yesterday, with Shanghai shares climbing above the key 3,000-point level again, retrieving part of Friday’s losses which were the largest setback so far this year. The... read more
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| Law aims to protect foreign investors China’s draft foreign investment law has been well received by foreign investors, who believe it will further improve the country’s business environment. A new draft of the law was submitted to China’s... read more
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| Nvidia buys Israeli chip firm Mellanox US chipmaker Nvidia Corp said yesterday it would buy Israeli chip designer Mellanox Technologies Ltd for US$6.8 billion, beating rival Intel Corp in a deal that would help the company boost its data center... read more
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| City’s new home sales hit hard as supply runs dry Shanghai’s new housing sales market suffered a major setback last week, dipping below the 100,000-square-meter benchmark for the first time in three weeks.... read more
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| Tesla hikes prices, keeps stores Electric carmaker Tesla Inc has backed off its plan to close all of its US stores and instead will raise prices of its high-end vehicles by an average 3 percent as it strives for profitability.... read more
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| SF in new DHL deal on logistics Chinese logistics giant SF Holding and Deutsche Post DHL Group launched a co-branded business — the SF DHL Supply Chain China — in Shanghai yesterday in a bid to reshape the supply chain market in Chi... read more
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| Alibaba to take 14% STO stake Alibaba Group Holding said yesterday it would buy 14 percent of STO Express Co Ltd for 4.66 billion yuan (US$693 million) as it reinforces expansion in the delivery sector.... read more
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| China drags on Asia real estate funds Asian outbound real estate investment plunged last year, mainly due to a sell-off by Chinese mainland investors, international property consultancy CBRE said yesterday.... read more
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| Chinese team makes power storage breakthrough A CHINESE research team has developed a new calcium-ion-based energy storage device, which has proved to have high capacity and a long cycling life at room temperature.... read more
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| Financial market reforms on schedule CHINA has implemented most of the financial market reforms that were announced last year, central bank governor Yi Gang said. “We believe the opening-up of China’s financial market is conducive to both... read more
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| PBOC: China will stick to prudent monetary policy to ‘right degree’ China will continue to adopt a prudent monetary policy that will be eased or tightened to the right degree, the country’s central bank governor said yesterday.... read more
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