The SCMP Group finally closed the deal with Alibaba at a whopping US$262 million approximately. After many rounds of rumors, the Chinese company has announced that Alibaba has agreed to venture into the news business acquiring The South China Morning Post. This Hongkong based newspaper and the other assets of the SCMP Group including the Elle and Esquire sister concern publications and websites will cost Alibaba a big sum of more than $2 million.
Hong Kong
Wearable IoT World launches Hong Kong accelerator after receiving $4.5M from Radiant Venture Capital
Wearable IoT (Internet of Things) World launched Monday its Hong Kong operation after receiving $4.5 million worth of funding from China-based investor Radiant Venture Capital.
Hong Kong Dollar falls to 4-year low after dropping to a 10-year low a few days ago
The Hong Kong dollar fell for four straight days to a four-year low of 7.8040 against the US dollar Tuesday morning, due to outflow of US dollar capital from the region and its weakening economy.
Ivory Trade: Hong Kong will work towards banning the sales
Hong Kong has been one of the main traders of elephant ivory. The government is about to change that, a move praised by activists and environmentalists.
Hang Lung’s chief confident about Hong Kong property market being ‘healthiest’ in 25 years
In the face of declining home prices, as evident from the last quarter, the chairman of Hang Lung Group, Hong Kong's leading developer, expressed that the city property market is now more robust than it has ever been in the last 25 years.
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Hong Kong's international financial hub is reeling under pressure as the world's largest and second largest economies are impacting it more in a negative way.
One of the largest property developers in China, Evergrande Real Estate Group Ltd., acquired 50 percent share from Great Eastern Life Assurance Co for 3.9 billion yuan, or $610 million, to get into the insurance industry.
Asian stocks dropped on low trading volume as commodity producers followed fall in industrial metals and crude oil. Investors and institutions are in the wait and watch mode ahead of US Fed's meeting in December.
Asian shares rose for a third consecutive day on Friday even as China stocks tumbled into correction territory, while the Federal Reserve's cautious stance towards lifting interest rates kept the dollar on the back foot.
HSBC (HSBA.L) pledged a new era of higher dividends on Tuesday, laying out plans to slash nearly one in five jobs and shrink its investment bank by a third to combat sluggish growth across its sprawling empire.
Hong Kong's securities regulator said on Friday it will propose laws boosting cooperation with its foreign counterparts, at a time when the emergence of a number of cross-border fraud and corruption scandals make such collaboration vital.
Alibaba Pictures Group Ltd (1060.HK), the film and entertainment unit of China's largest ecommerce company, said on Thursday it plans to raise $1.6 billion in a share offering to select investors to finance media-related acquisitions.
Hewlett-Packard Co (HPQ.N) will sell a controlling 51 percent stake in its China-based data-networking business to China's Tsinghua Unigroup for at least $2.3 billion, forming a partnership designed to create a Chinese technology powerhouse.
Malaysian airline AirAsia Bhd's (AIRA.KL) loyalty program is in talks with private equity investors about selling a minority stake, which could value the business at about $330 million, people familiar with the matter told Reuters.
