Chinese online entertainment platform Bilibili files for U.S. IPO -- Chinese online entertainment platform Bilibili has filed for an initial public offering (IPO) of 400 million U.S. dollars with the U.S. Securities and Exchange Commission. The Shanghai-based company plans to list on the New York Stock Exchange under the symbol BILI, according to the prospectus filed on March 2. The prospectus gave no details on pricing terms or the number of shares to be listed.
China's EV manufacturer BYD inks landmark labor contract in U.S. -- China's electric vehicle manufacturer BYD Coach & Bus signed a labor contract with the International Association of Sheet Metal, Air, Rail and Transportation Workers Union (SMART) Local 105 on March 1. This is the first collective bargaining agreement for the electric bus industry in the United States.
China's Doublestar buys controlling stake in Kumho Tire -- China's listed tiremaker Qingdao Doublestar said it had reached an agreement with creditors of Kumho Tire to buy a controlling stake in the tiremaker from the Republic of Korea. Qingdao Doublestar said it will invest 4 billion yuan (630 million U.S. dollars) with another three state-owned companies from the eastern Chinese city of Qingdao to buy a 45 percent stake of Kumho Tire, while the creditors of Kumho Tire will hold a 23 percent stake. The purchase is expected to be completed in the third quarter of this year.
French luxury department store to land in Shanghai -- The French luxury department store Galeries Lafayette will open a store in Shanghai, its second outlet in China. The store will be located in Lujiazui, a commercial and financial center, and is expected to open within the year, said Lu Qixing, deputy director of the commerce commission of Shanghai Pudong New Area, on February 27.
China's HNA renames Carlson Rezidor as Radisson Hotel Group -- China's HNA Tourism Group renamed Carlson Rezidor Hotel Group as Radisson Hotel Group on March 5 here at the International Hotel Investment Forum. In late 2016, HNA bought Minneapolis-based Carlson Hotels Inc, whose brands include Radisson Hotels, Radisson Blu, Radisson RED, Park Plaza, Park Inn by Radisson, Country Inns & Suites by Carlson, and the Quorvus Collection, along with a majority stake in Brussels-based Rezidor Hotels. Since then, HNA has restructured the chain hotels, including the change of legal name of Carlson Hotels into Radisson Hospitality last November.
China's Huawei set to help build e-government for Algeria -- Chinese telecommunications giant Huawei is set to help Algeria build e-government by digitizing a large volume of official documents of various ministries, a senior manager from Huawei told Xinhua in a recent interview."Algeria has launched a performance improvement program of its administration, and Huawei hopes to participate in this project with local partners," said Gao Jie, the general manager of Huawei Telecoms Algeria.
Hyatt partner with Chinese hotel chain Minyoun to expand in China -- Chicago-based Hyatt Hotels Corporation announced on February 26 that it will partner with China's Tianfu Minyoun Hospitality, or Tianfu Minyoun, in a strategic development deal that will allow the expansion of Hyatt Place and Hyatt House hotels in China, according to a press release by Hyatt.
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