Portion bought last year for record amount sold on at apparent profit
2016-02-23
Beijing-based Fairlubo, a total-loss and salvage vehicle auction platform, has raised US$45 million from Chinese second-hand car auction firm Uxin Group, Fengshang Capital and Legend Capital, according to a company announcement (in Chinese). Founded in 2011, Fairlubo operates in a niche market and provides total-loss and salvage vehicle auction services, similar to Insurance Auto Auctions […]
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2016-02-23
North Korea's recent nuclear test and rocket launch have finally convinced South Koreans that their bellicose neighbor will never abandon its nuclear ambitions. As the country cuts remaining ties with the North and adopts a new strategic stance, it wil…
2016-02-23
Le Sports has agreed to acquire the exclusive live streaming rights covering five seasons for China's top football league from CMC Capital Partners-backed Ti’ao Power, says the companies in an announcement. China Money Network reported on the rights purchase last week, which was reportedly worth RMB2.7 billion. The expected announcement today says that the two […]
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2016-02-23
Performance among hedge funds globally is witnessing increasing dispersion, with top quartile managers delivering double digit returns while bottom quartile losing on average of 5% in 2015, according to an annual hedge fund survey conducted by Deutsche Bank. As a result, selecting the right hedge funds with a unique skill set and competitive advantage is […]
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2016-02-23
Move may ‘significantly change the operational landscape’ in South China Sea, says US think-tank
2016-02-23
Chinese electronics firm TCL Corporation says it plans to team up with Tsinghua Unigroup to set up an industry fund with a targeted fundraising size of RMB10 billion (US$1.53 billion) to invest in the electronics, Technology, Media, Telecom (TMT), Industrial 4.0 and Internet+ sectors, according to a disclosure document (in Chinese). The company says the […]
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2016-02-23
New Delhi, India, February 23, 2016 /ChinaNewswire.com/ – International interest in India's smart cities mission, announced by Prime Minister Narendra Modi, is rising – as evidenced by the offer of German assistance by Chancellor Angela Merkel during her visit to India recently. The Indian government is steadfast in its commitment towards smart cities, and has … Continue reading "2nd Smart Cities India 2016 to showcase smarter solutions for a better tomorrow"
2016-02-23
Nokia Growth Partners announced the closing of a new US$350 million fund for investments in the Internet of Things (IoT) companies globally, according to an announcement. The new fund brings assets under management by the venture investment unit of Nokia to well over US$1 billion, including US$500 million available for new investments, as it seeks […]
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2016-02-23
Richard Liu, the chief executive of Chinese e-commerce giant JD.com Inc., says he has no plans to take the NASDAQ-listed company private because he is an entrepreneur and has no interest in short-term monetary gains, he told Sina Technology in an interview. Liu believes that JD.com is undervalued by the market sometimes, and admits that […]
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2016-02-23
Pension funds in the Asia Pacific region are planning to allocate more into alternative investments including private equity and infrastructure, according to the results of a survey conducted by State Street. Among the 100 pension funds surveyed in the region, 57% plan to increase their exposure to private equity in the next three years, while […]
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2016-02-23
China has the highest adoption rate among all major countries for ride share mobile app usage. Over 30% of iPhone users in China use at least one ride share mobile app, compared to around 10% in the U.S. and around 6% in Germany at the end of 2015, according to new research released by mobile […]
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2016-02-23
Chinese mobile phone users sent out a total of 699.2 billion short messages in 2015, according to statistics from the …