Hytera completes acquisition of Norsat International Incorporation -- Hytera Communications Corporation Limited announced on July 21 that its wholly-owned overseas sub-subsidiary, Hytera Project Corp, had acquired 100 percent stake of Norsat International Incorporation for nearly 70.56 million US dollars on July 20. Norsat has henceforth become a wholly-owned subsidiary of Hytera Communications Corporation Limited.
Didi Chuxing, SoftBank invest 2 bln USD in Southeast Asia's taxi-hailing giant Grab -- Grab, the leading on-demand transportation and mobile payments platform in Southeast Asia, announced on July 24 that China's Didi Chuxing and Japan's SoftBank Group Corp will invest up to 2 billion US dollars to lead Grab's current financing round. Grab anticipates that it will raise an additional 500 million U.S. dollars, bringing the total to 2.5 billion U.S. dollars in this round from existing and new investors.
China Merchants to take over Sri Lanka port -- Chinese port operator China Merchants Port Holdings has announced it will acquire an 85 percent stake in Sri Lanka's Hambantota Port for 974 million US dollars. The company has reached agreement with Sri Lanka Port Authority, the Sri Lankan Government, Hambantota International Port Group (Private) Limited (HIPG) and Hambantota International Port Services Company (Private) Limited (HIPS) to operate the port. (Source: China Daily)
China's Jack Ma resilience inspires Kenya's young entrepreneurs -- Linet Kwamboka was excited when she learnt that Jack Ma (Ma Yun), the CEO of China's e-commerce giant, Alibaba, was visiting Kenya to give motivational talk to young entrepreneurs in the East African Nation. The 29-year-old founder of a thriving technology start-up eagerly waited for an opportunity to hear the inspiring story of a self-made billionaire who overcame setbacks to establish an e-commerce behemoth with global tentacles. Kwamboka was among a select group of Kenyan digital entrepreneurs who were granted an opportunity to have a private audience with Jack Ma on July 20 before he addressed an open forum at an innovation hub located in an upscale Nairobi suburb.
Mobike expands to Italy -- Mobike Technology Co Ltd, a major Chinese bike-sharing company, rode into Italy on July 25, as it expands its overseas presence to compete with its rival, Ofo Inc, outside China. The move marks the company's first major push into the European continent after launching services in the United Kingdom, Japan and Singapore. (Source: China Daily)
Alibaba aims high for cloud computing business in Southeast Asia -- Chinese e-commerce giant Alibaba is aiming high for the cloud computing business in Southeast Asia, believing that a new wave of digital penetration will jump-start the business. Speaking to Xinhua at a startup competition event on July 20, Raymond Ma, regional manager of ASEAN Markets for Alibaba Cloud, said Southeast Asian countries are having a rapid transformation to cloud computing, no matter in the IT business or in traditional industries. As more companies are taking cue from their Chinese counterparts, for instance in e-commerce and in online-to-offline business, this region will have a bigger demand for cloud computing, said Ma.
Chinese firms ascend global rankings on economy transitions -- Chinese firms continue to ascend global rankings as their competitiveness grows with the country's transitioning economy. The Fortune Global 500 list is seeing a China boom this year, the renowned magazine said on its website. Chinese firms filled an unprecedented 115 places on the 2017 list released earlier this week, only 17 places less than the top performer, the United States.
Gaming companies are finding big treasure in foreign lands -- Online games have become a new driver for Chinese companies' growth in overseas markets as exports advance by leaps and bounds. The overseas revenues of online games independently developed by Chinese companies surged by 57.7 percent to reach 3.99 billion US dollars in the first half of the year, according to a report jointly released on July 26 by the Beijing-based Game Publishing Commission and market consultancies CNG and IDC. (Source: China Daily)
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