Chinese financial exchanges, Deutsche Boerse agree to form JVs in Germany


China’s Shanghai Stock Exchange, the China Financial Futures Exchange (CFFEX) and the country’s foreign exchange trading operator formally agreed to establish joint ventures with Germany’s Deutsche Boerse AG in Germany on Thursday. The agreement was signed in Beijing at a ceremony overseen by Germany’s Chancellor Angela Merkel and China’s Premier… Read more »

Japan’s SoftBank to form JV with Sharp for solar power biz

Japan’s SoftBank Group Corp said on Thursday it is forming a joint venture with Sharp Corp in the solar power plant business, a move that could give a boost to Sharp’s ailing solar panel operations. The joint venture, which will be launched in December, will offer panel installation and maintenance… Read more »

SoftBank internal data suggests smartphone woes worse than reported

New smartphone subscriptions for SoftBank Group Corp plunged 35 percent at its own stores in Japan’s most populous region in the last business year, according to internal data that paints a far gloomier picture than its published financial results. The data, from a July presentation for distributors and seen by… Read more »

Online taxi-hailing service Uber aims to launch in Pakistan by end of 2015

Online taxi-hailing service Uber will launch in Pakistan by the end of the year, a spokeswoman said on Tuesday, part of an aggressive push targeting megacities in the Asia Pacific region. Undeterred by the failure of other online taxi-hailing ventures in Pakistan, Uber’s career page advertised three top manager positions… Read more »

Japan’s Hulic will buy Simplex for $1.3b, sell some assets

Japanese developer Hulic Co will buy Tokyo-based Simplex Investment Advisors for about 155 billion yen ($1.3 billion) from U.S. investment Aetos Capital in Japan’s largest property deal this year, the two firms said on Wednesday. Hulic, which has been expanding its property development and acquisitions in Japan, only plans to… Read more »

Germany’s Wirecard buys Great Indian Retail Group’s payments biz for $254m

German payments company Wirecard has agreed to buy the payments business of Great Indian Retail Group, a major electronic payment and e-commerce business in Asia. Reuters reported that the Munich-based online-payment service provider will take over more than 900 staff in Malaysia, India, the Philippines, and Indonesia as part of… Read more »

Taiwan’s TFCC allows Blackstone to inspect books before potential stake purchase

Taipei Financial Center Corp (TFCC), which operates skyscraper Taipei 101, said it has allowed Blackstone Group to examine its financial books ahead of a potential stake purchase in it by the U.S. private equity firm. The decision, which came after TFCC’s board meeting on Wednesday, paves the way for Blackstone to… Read more »

Lenders tell Sharp Corp to find partner for ailing LCD business soon

Sharp Corp’s main banks are telling it to find a buyer for all or part of its ailing LCD business within months, pushing it to get more capital elsewhere as they have already footed two huge bailouts, sources familiar with the matter said. Despite a $1.7 billion rescue in May,… Read more »

Huawei set to become fastest-growing smartphone co this year

China’s Huawei Technologies Co is set to be the fastest-growing major smartphone vendor this year, analysts said, boosting its drive upmarket to challenge industry giants Samsung Electronics Co and Apple Inc. The upbeat view came after Huawei, the world’s third-biggest smartphone supplier by volume, on Tuesday said third-quarter global smartphone… Read more »

Alibaba gets more bang for its buck as revenue growth beats forecasts

China’s Alibaba Group Holding Ltd is squeezing more money from online shopping than expected, beating analyst forecasts for revenue growth, as mobile shopping grows. The company wrung out higher-than-expected revenue growth of 32 percent year-on-year, even as gross merchandise volume (GMV), the total value of goods transacted across its platforms, sank… Read more »