Groupon in talks to partner with Chinese internet major Tencent Holdings
US group buying company, Groupon is in talks with Chinese internet major Tencent Holdings Ltd. for a partnership, Terms of the deal weren’t clear, but it was likely to involve some sort of co-branded joint venture. Tencent is the dominant social network in China, thanks to its instant messaging platform QQ, which it monetizes with virtual goods like avatars. Both companies are confident the JV will lead in the industry by May this [...]
Top 10 predictions for 2011
Public cloud services adoption will grow at over five times the rate of the IT industry. 2011 will be a big year for private cloud services adoption and deployment. The platform-as-a-service (PaaS) battle will determine ‘the next Microsoft’. Battle for hybrid cloud management.
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BRIC (Brazil, Russia, India And China ) trade war
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Sina Corp (SINA) launches $301 million developer fund for its Twitter-like microblog, Weibo
Sina Corp (SINA), a leading Chinese online media services provider, launched $301 million fund for developers to create applications for its highly popular Twitter-like microblog, Weibo (pronounced ‘way-bore’). Sina is one of the few micro-blogging services still around in China after the government banned Twitter and other competitors for refusing to monitor their content.
The developers will use an open platform interface to create [...]
Tsingtao Brewery plans to purchase a 45 percent stake in Hangzhou Xihu Beer Asahi Co
Tsingtao Brewery, China’s second-largest brewer by volume, plans to purchase a 45 percent stake in Hangzhou Xihu Beer Asahi Co for up to $294.4 million. Hangzhou Xihu Asahi was established by Asahi Beer, which holds a 55 percent stake, and Hangzhou Industrial Assets Management, which holds a 45 percent stake.
Hangzhou Xihu Asahi currently has beer production capacity of 300 million liters per year.
In another news, Tsingtao Brewery [...]
Bank of China fund-raising, valuation-wise very attractive
Bank of China Asia’s third-largest lender by market value plans to raise as much as 60 billion yuan ($8.9 billion) in a rights offer to replenish capital. The lender said July 2 it will sell shares in Shanghai and Hong Kong. The stock rose 0.3 percent to 3.4 yuan. The stock was unchanged at HK$3.97 on June 30 before trading was suspended the next trading day.
Bank of China’s, the country’s fourth-largest bank, major fund-raising [...]
