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Alibaba boosts stake in investment bank CICC for $231 million

Wednesday, February 20, 2019, 8:08 AM

China's e-commerce giant Alibaba Group Holding Ltd has raised its stake in top domestic investment bank China International Capital Corp's Hong Kong-listed shares to nearly 12%, an exchange disclosure showed on February-18. The internet giant bought 117 million CICC H-shares as those listed in Hong Kong are known at an-average-price of HK$15.50. After the investment, Alibaba holds a 4.84% stake in CICC's total equity.
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Hong Kong Unveils Bill Banning Insults To Chinese National Anthem

Wednesday, January 9, 2019, 8:17 PM

Hong Kong unveiled a proposed law to punish anyone who disrespects the Chinese national anthem with up to three-years in jail, as Beijing ramps-up pressure on semi-autonomous city to fall into line. The bill, which will have its first reading in city's parliament on January-23, sets-up a fresh battle between authorities and democracy activists who say the financial hub's freedoms are being steadily dismantled.
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China's Vivo buys 169 acres land, to invest $559 million in India

Thursday, December 13, 2018, 7:31 PM

Chinese smartphone maker Vivo said it had acquired 169 acres of land in Uttar Pradesh and will spend Rs.4,000Cr to set up its second local plant in India. "India is a key market for us ... and today we have reiterated our commitment by entering the next phase of growth in India," Nipun Marya, director, brand strategy, Vivo India said in the statement.

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