All-electric DENZA Car Eligible for Local Subsidy in China

Daimler AG, a German multinational automotive corporation said that its electric car DENZA will be eligible for local subsidies in China when it goes on sale there in September this year. The car will be priced at $60,000 (369,000 renminbi). DENZA which a domestic Chinese brand is jointly developed with Chinese partner BYD, forms part […]

Acquisition of Anchorage Daily News by Alaska Dispatch for $34 Million

Alaska Dispatch, an online newspaper founded in 2008 has agreed to acquire for $34 million the Anchorage Daily News which is the largest daily newspaper in Alaska from the McClatchy Company. Publisher of the Anchorage-based Alaska Dispatch, Alice Rogoff said that the deal was meant to serve Alaskans who still preferred reading a print newspaper. […]

Founder of Alibaba Group Jack Ma invests in Hundsun Technologies Inc

The world’s biggest e-commerce firm, China’s Alibaba Group Holding Ltd’s founder Jack Ma will pay $531.78 million (3.3 billion yuan) to take a controlling share of Hundsun Technologies Inc, a financial software firm. According to Hundsun Technologies, the Hundsun Group which currently owns a 20.6 percent stake in Hundsun Technologies will sell 100 percent of […]

Alibaba Group to Acquire Stake in Intime Retail

Alibaba Group Holding Ltd, one of China’s biggest e-commerce companies has decided to invest in Intime Retail Group, a Chinese department store operator. The e-commerce giant has agreed to invest $692 million in Intime Retail as it wants to bring the convenience and benefits of online shopping to customers who visit bricks-and-mortar stores. Alibaba said […]

Mitsubishi acquires Plant in Laguna, Philippines to Boost Sales in Southeast Asia

Mitsubishi Motors Corp, Japanese multinational automotive company, said it has purchased the site of a former auto plant in the Philippines from Ford Motor. The auto giant is increasing its production as Mitsubishi targets a near-50 percent sales boost in fast-growing Southeast Asia markets. Mitsubishi Motors which is the second largest automaker in the Philippines […]