Vietnam 

REE accepts Singaporean firm’s bid – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Air-conditioners built by Refrigeration Electrical Engineering Corporation (REE). The HCM City-based has okayed a bid to buy 31.3 million REE shares from the Singaporean firm Platinum Victory. — Photo reecorp.com HÀ NỘI — Refrigeration Electrical Engineering Corporation (REE) has accepted Platinum Victory Pte Ltd’s bid to buy 31.3 million REE shares. The bid came on August 14 as the Singaporean firm offered to buy 31.3 million REE shares to raise its stake in REE by 10.11 per cent to 35.01 per cent. Platinum Victory Pte Ltd planned to buy REE shares at VNĐ45,000…

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Cryptocurrency entrepreneur Justin Sun ran a hook-up app before his US$4.6 million Buffett lunch bid

Before hogging headlines for missing a US$4.6 million lunch with Warren Buffett, cryptocurrency entrepreneur Justin Sun Yuchen was known for creating voice live-streaming app Peiwo, which has pushed the boundaries of social networking in China.Peiwo, which translates as “accompany me” in English, was released in 2014 and targeted millennials. The app connects like-minded users via live audio chats based on 10-second voice samples they recorded on the platform.Unlike popular social media-turned… Source link

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China 

US trade war, household debt and labour market raise questions over China’s latest bid to spur spending

China’s latest bit to spur consumer spending to counter the effects of falling exports and to stabilise growth has been questioned by analysts due to high and rising household debt combined with an uncertain labour market and income outlook due to the trade war with the United States.The new interministerial body will be responsible for pushing forward plans to upgrade consumption and to study new ways to boost spending, according to the State Council. It will be comprised of 24 ministries,… Source link

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Huawei signs top fresh tech talent on US$300,000 salaries in bid to stay ahead

Huawei Technologies plans to lure gifted new recruits with “top-notch” salaries to join the company, as the world’s largest telecommunication equipment supplier moves to reinforce its army of researchers amid its struggles with a US trade ban.Shenzhen-based Huawei will hire from 20 to 30 top talent from around the world this year in a bid to build up its “combat capabilities”, according to a widely-circulated email on Tuesday that was signed by company founder and chief executive Ren Zhengfei… Source link

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Korean video games firm Nexon fails to draw bid from Tencent, scraps deal potentially worth US$16 billion

Nexon founder Jungju Kim has scrapped plans to sell a controlling stake in its parent, NXC, two sources with direct knowledge of the matter said on Monday, scuppering potentially the largest deal in the gaming sector, at up to US$16 billion.Kim had been looking to sell the 98.6 per cent stake he and his wife hold in NXC, which in turn owns 48 per cent of Tokyo-listed South Korean video game publisher Nexon.Since it emerged in January, the sales plan has been dogged by funding challenges, the… Source link

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Foxconn chairman Terry Gou hands over reins ahead of Taiwan presidential bid

Foxconn Chairman Terry Gou said on Friday he will hand over the running of the world’s largest electronics contract manufacturer to a new operations committee as he prepares to contest Taiwan’s presidential elections next year.The 68-year-old Foxconn founder was speaking at the company’s annual general meeting in Taipei, where a few hundred shareholders and supporters had braved the heat to watch a live broadcast on big screens. The move was widely expected.The Apple supplier, whose full name… Source link

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China National Gold studies bid for Canadian miner Iamgold

China National Gold Group Corp, the nation’s second-biggest miner of the metal, is studying a bid for a stake in Canada’s Iamgold Corp, people familiar with the matter said. Iamgold shares jumped the most in more than four years on Thursday.The state-owned gold miner is working with financial advisers on the potential offer, the people said, asking not to be identified as the information is private. Iamgold is exploring a possible sale of all or part of the company and has spoken to several… Source link

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Netflix buys rights to another show from Alibaba’s Youku in bid to reach Chinese diaspora

Netflix is acquiring the rights to another show from Alibaba Group Holding’s Youku video service, stepping up efforts to serve Chinese-speaking viewers around the world.The US streaming video giant purchased the rights to a romantic comedy called I Hear You. Netflix will stream 24 episodes of the show in 190 countries and regions from May 15, Alibaba said in a statement. Financial terms were not disclosed.Netflix has been investing in Chinese-language programming for distribution outside China,… Source link

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Singapore 

Penang official suggests Malaysia make Unesco bid without Singapore whose hawker culture is not ‘so authentic’, Singapore News

GEORGE TOWN – A Penang official who called on Malaysia to rope in Singapore to seek Unesco recognition for hawker culture is now suggesting that his country make the bid alone. Penang’s Tourism Development and Heritage Committee chairman Yeoh Soon Hin told reporters on Thursday (May 9) that Singapore hawker fare is not “so authentic” as every hawker stall is under the government’s control, Malay Mail reported. “From my perspective, we should submit a nomination for Malaysia’s hawker culture to include other states such as Ipoh, Melaka and Kuala Lumpur,…

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Developers rush to bid for Kai Tak’s latest residential land plot as bull market returns to Hong Kong’s real estate

Developers submitted seven bids for the third-largest residential plot at Hong Kong’s former Kai Tak airport, as April sales data showed home transactions jumping by 52.8 per cent from March, in a clear sign of the bull market’s return to the world’s most expensive city.Kai Tak’s Area 4C Site 2, a sliver of land sitting on the former Kai Tak runway, can yield 641,168 square feet (59,566 square metres) of gross floor area. It is valued at HK$11.5 billion (US$1.47 billion), or HK$18,000 per… Source link

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