Game developer Ubisoft is expanding its business to the Philippines and will be named Ubisoft Philippines. It will be headquartered in Sta. Rosa, Laguna which is a great geographical site. One reason for the move is the trust established by Filipino employees led by manager Chip Go that was being noticed by Ubisoft Managing Director Oliver de Rotalier.
Tags: China
Xiaomi Partners with India's Hungama, Invests $25 Million
Xiaomi’s partnership with India’s Hungama will make it easier, more accessible and more affordable for locals to access the company’s service that will soon be integrated together with themes and ringtones.
Guosen Securities denies bond default
China's eighth largest investment bank, Guosen Securities, has clarified on behalf of its unit that there's no default on its offshore debt. The trustee of the offshore bond Bank of New York Mellon (BNY) had earlier warned bondholders of a possible default.
China's eight largest bank defaults on ‘dim sum’ bond
A unit of China's Guosen Securities in Hong Kong have defaulted on a dim sum bond. However, analysts doubted the default as the brokerage is in a strong cash balance.
McDonald’s Expands More New Restaurants in Asia
McDonald’s is planning to extend its fast food empire to Asia by opening additional restaurants in Hong Kong, South Korea and China. It is also seeking strategic partnership in Japan and Taiwan.
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It's a record for Shanghai Disneyland as its June 16 opening day tickets became sold out after a few hours of selling. Discounts await children, seniors and guests with disabilities including those who will purchase for a two-day event.
Billionaire Lakshmi Mittal-controlled ArcelorMittal is selling three of its US steel operations to Black Diamond Capital Management. As part of the sale deal, ArcelorMittal will offload three units at LaPlace in Louisiana, Harriman in Tennessee and El Paso in Texas. Both companies denied to provide terms of the deal.
El Niño is hitting on cane productions especially in Asia, leading to a global shortage and the rise in prices. This would be the first year of sugar shortage after years of surplus. The shortage is projected to be prolonged to at least next year.
Price of iron ore rallies as China's property market showed further sign of recovery. Surge in the price of iron ore also correlated with increase in steel futures.
Starwood is about to dump Marriott's offer in favor of Anbang's more than $13 billion bid for the acquisition. If the deal pushes through, Starwood will pay Marriott a breakup fee of $400 million. Marriott has been given five days to counterbid.
China and U.S. has been competing for a place in the economy and politics of Cuba. China has been doing business with Cuba for several years and the U.S. is just making a start. The edge that Washington sees is the proximity as being Cuba's neighbor.
Samsonite saw strong sales in Asia, particularly China, in 2015. The company is not sure about 2016 outlook due to potential challenges, as it moves forward to boost presence in Asian markets.
The strengthening of Yen is eroding the value of Japan's exports to the US. Its overall exports volume was flat, while the value declined over four percent owing to rising Yen.
China will try to draw up rules to regulate ride hailing service as the market has grown very big. Meanwhile Indonesia transportation minister plan to ban Uber and GrabTaxi.
