News

Note: This section contains information in English only.
Tue, 10 Mar 2020 14:44:54 GMT

Alibaba builds 5G technology research lab

Alibaba Group Holding, the Chinese e-commerce giant, is planning to build a research lab in China for the 5G technologies development, under its research division DAMO Academy.

Tue, 10 Mar 2020 14:35:42 GMT

Nissan to leave venture fund with alliance amid cost cuts

Nissan Motor will likely to withdraw from its venture fund with Renault and Mitsubishi Motors, in the Japanese carmaker's cost-cutting drive, Reuters reported.

Tue, 10 Mar 2020 13:37:59 GMT

Alibaba's Alipay to launch about 40M service providers

Alibaba's affiliate Ant Financial is set to launch its mobile app platform Alipay to 40M service providers in China in the following three years and will also help them digitise their offerings, the company said on Tuesday.

Tue, 10 Mar 2020 12:03:08 GMT

IKEA launches selling via third party in China

On Tuesday, IKEA began to sell its products through on Alibaba's China e-commerce platform Tmall, marking the first time when the world's largest furniture retailer sold via a third party during 77 years of its existence.

Tue, 10 Mar 2020 10:36:18 GMT

US sanctions Iranian oil rigs

On Tuesday, Reuters revealed that a quarter of oil rigs in Iran are not producing crude oil. The production has been stopped due to US sanctions.

Tue, 10 Mar 2020 09:59:56 GMT

Tesla seeks car parts production capacity expansion in China

Tesla Inc is planning to boost its output capacity for car parts at the electric carmaker's $2.0B plant in Shanghai, according, as it is eager to localise the supply chain in the largest auto market in the world.

Tue, 10 Mar 2020 09:06:13 GMT

Japan to spend $4.1B on coronavirus measures

The Japanese government is planning to spend $4.1B in its efforts to cope with the coronavirus outbreak's fallout, two government sources reported to Reuters on Tuesday.

Tue, 10 Mar 2020 08:22:15 GMT

Norwegian Air suspends flights to Italy

Norwegian Air has temporarily suspended its air traffic with Italy due to the coronavirus-related quarantine restrictions, the budget airline stated on Tuesday,

Tue, 10 Mar 2020 07:00:50 GMT

Blackstone aims to take SOHO China private

Blackstone Group Inc has entered exclusive talks over taking the developer SOHO China private in a $4.0B deal, according to Reuters.

Tue, 10 Mar 2020 05:41:43 GMT

US government addresses oil price drop

During Monday's US trading hours, the US government stated that state actors have caused the current drop in crude oil prices.

Tue, 10 Mar 2020 05:32:52 GMT

Oil prices plummet

On Monday, crude oil prices plummeted by more than 25%, which is the biggest drop since the 1991 Gulf War.

Tue, 10 Mar 2020 03:55:53 GMT

US oil producers address price drop

On Monday, US shale oil producers began a spending cut spree and a reduction of production that was caused by crude oil price drops.

Mon, 09 Mar 2020 22:03:24 GMT

Stocks drop on Monday

During Monday's US trading session, stock indices dropped, as the global economy was expected to get hit by a Italian quarantine.

Mon, 09 Mar 2020 21:13:49 GMT

JPMorgan to slash up to 140 jobs

JPMorgan Chase is likely to eliminate nearly 140 jobs in Switzerland in a bid to cut costs, sources familiar with the matter told Reuters.

Mon, 09 Mar 2020 19:44:07 GMT

Siemens aims for minority stake in Siemens Energy

Siemens announced its intention to keep a minority stake of 30% in Siemens Energy, which it spinning off later in 2020.

Mon, 09 Mar 2020 17:47:56 GMT

German exports fall 2.1% in January

Germany's exports decreased 2.1% to €106.5B in January this year, compared to the same month in 2019, Destatis reported on Monday.

Mon, 09 Mar 2020 16:42:37 GMT

Aon to buy Willis Towers Watson for $30B

UK-based Aon Plc said that it would acquire Willis Towers Watson for nearly $30B in an all-stock deal, which is expected to face regulatory hurdles.

Mon, 09 Mar 2020 15:41:25 GMT

UK to produce draft FTA before next EU talks

Britain stated that it intended to produce a draft trade deal before the next round of country's negotiations with the EU later in March.

Mon, 09 Mar 2020 14:55:55 GMT

Saudi Arabia plans to fine people for concealing health details

On Monday, Saudi Arabia stated it would introduce a fine of about $133K on people who refuse to disclose their health and travel details at the entry points, in the Gulf state's efforts to prevent the coronavirus spread.

Mon, 09 Mar 2020 14:37:41 GMT

Twitter clinches deal with Silver Lake, Elliott

On Monday, Twitter Inc announced it had struck a deal with Silver Lake and Elliott Management, granting a board seat to each after the hedge fund's push for its CEO Jack Dorsey removal.

Mon, 09 Mar 2020 12:41:42 GMT

Malaysia's PM names CIMB CEO as new FinMin

On Monday, Muhyiddin Yassin, Malaysia's new Prime Minister, appointed the CIMB Group's Chief Executive as the country's new Finance Minister.

Mon, 09 Mar 2020 11:48:10 GMT

Japan to raise special financing for coronavirus companies

Japan is set to bolster special financing for mid-size and small companies hit by the coronavirus outbreak to $15.6B, Reuters reported on Monday.

Mon, 09 Mar 2020 10:41:15 GMT

Apple sales fall in China

On Monday, Apple revealed that it had sold less than 500,000 new smartphones in China in February. In February 2019, the company sold 1.27 million smartphones.

Mon, 09 Mar 2020 09:18:55 GMT

Nissan's China car sales plunge 80% in February

Nissan Motor's vehicle sales in China, the carmaker's largest market, tumbled 80% to 15,111 units in February due to the coronavirus outbreak that sapped demand, the Japanese firm said on Monday.

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