HBIS agrees to buy 70 pct of Tata's Southeast Asian steel projects: newspaper -- Chinese steelmaker HBIS Group agreed to buy 70 percent of Indian conglomerate Tata Steel's projects in Southeast Asian countries on January 28, which is considered a "smart move" by experts, China Daily reported January 29. HBIS, the world's third-largest steelmaker by output, will take over Tata Steel's projects in Singapore, Thailand, Vietnam and Malaysia, in order to maximize opportunities in the region on technology, channels and management.
Chinese financial software provider Hundsun to set up joint venture with Ipreo -- Chinese financial software and network service provider Hundsun Technologies (600570.SH) announced on January 29 that it has signed a memorandum of collaboration with the world-leading financial service solution supplier Ipreo Holdings LLC in New York on setting up a joint venture in China. According to the announcement, the joint venture will engage in providing electronic bookbuilding solutions for the bond market in Chinese mainland.
China's Masterwork Group to become largest shareholder of German engineering company -- China's Masterwork Group has announced it intends to obtain an 8.46 percent stake of Heidelberger Druckmaschinen AG (Heidelberg) by way of cash subscription. The proposed investment, subject to approval by Heidelberg's supervisory board, will make a wholly-owned subsidiary of Masterwork the largest shareholder of the German precision mechanical engineering company, according to Masterwork. With the issue price of the new shares set to be 2.68 Euros (3.06 U.S. dollars), the total investment will be worth about 68.99 million Euros (about 78 million U.S. dollars).
Chinese optoelectronic firm Dongxu inks deal with University of Manchester -- Chinese optoelectronic firm Dongxu Optoelectronic Technology Co., Ltd. (000413.SZ) announced that it signed a three-year term membership agreement with the University of Manchester on Jan. 24, 2018, reported the Xinhua-run Shanghai Securities News. By signing the deal, Dongxu becomes a Tier-one partner to the university’s Graphene Engineering Innovation Centre (GEIC), and thus may participate in GEIC activities.
Foxconn says it is reconsidering plans to make LCD panels at Wisconsin plant -- Foxconn Technology Group, the Taiwanese electronics giant that is Apple’s main manufacturing partner, said that it is reconsidering plans to make advanced liquid crystal display panels at a 10 billion U.S. dollar Wisconsin campus and intends to hire mostly engineers and researchers rather than the manufacturing workforce of 13,000 that the project originally promised. Instead of focusing on LCD manufacturing, Foxconn said it wants to create a "technology hub" in Wisconsin that would largely consist of research facilities along with packaging and assembly operations, Louis Woo, special assistant to Foxconn CEO Terry Gou, told Reuters in a story published on January 30. It would also produce specialized tech products for industrial, healthcare and professional applications, he added. (Source: China Daily)
AIIB to use local currency financing in Asia -- The China-based Asian Infrastructure Investment Bank plans to launch local currency financing in some Asian countries later this year in a move to reduce cross-border investment risks caused by exchange-rate fluctuations. The first group of countries to have this new service could include India, Indonesia and Pakistan, AIIB President Jin Liqun said at a news conference in Beijing on January 29. (Source: China Daily)
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