The largest Chinese company Alibaba Group announced the acquisition of the largest English-language printed edition in Hong Kong – South China Morning Post (SCMP). The agreement between two large companies estimated at $ 266 million. Representatves of companies told about the agreement on December 14, 2015. All details of the agreement are kept in a secret for now.
This purchase is made at precisely the same time as the newspaper began to be attacked by the authorities in Hong Kong, pressure on journalists and attempts to tighten censorship. Western critics fear that after the transaction, South China Morning Post will cease to cover the events objectively.
In response, in a letter to readers of the newspaper, the vice president of Alibaba Joe Tsai promised that the publication will describe the events independently and objectively, and chided the Western media of the biased attitude to China, when they said that now the newspaper will see events “in a different way”.
South China Morning Post is one of the oldest newspapers in Hong Kong – the first publications were printed in 1903. Negotiations over the purchase of the newspaper between the companies began in November 2015.
The market value of SCMP is about $ 392 million. The SCMP has a license to produce the Hong Kong version of glossy magazines Esquire, Elle, Cosmopolitan and Harper’s Bazaar. The reasons of buying the publication for Alibaba are: to raise the ratings of Alibaba, and it will be the beginning of the creation of a new media company, that will be called CMC Holdings.
Alibaba Group (established in 1999) is the largest Internet company, its main activities are trade transactions between the two companies under the scheme B2B, retail online trading. In 2012, sales at the two portals of Alibaba Group amounted to 1.1 trillion yuan ($ 170 billion).
Radisson Hotel Group has plans to more than double its serviced apartments portfolio within the next 5 years across EMEA. Today, serviced apartments represent around 10% of the Group’s EMEA portfolio with 45 properties and more than 5,400 units in operation and under development. Radisson Hotel Group operates its serviced apartments as a stand-alone or […]
On Monday, December 7, Uber and startup Aurora Technologies announced an agreement under which Aurora will take over Uber’s Advanced Technologies Group, which has been developing self-governing cars. Under the terms of the agreement, Uber will receive $ 400 million, 26% of Aurora shares, and the general director of the taxi service, Dara Khosrowshahi, will […]
Electric car maker Tesla has agreed with brokerage companies to sell its shares for a total of $ 5 billion. This was reported by Bloomberg, citing documents submitted to the US Securities and Exchange Commission (SEC). The shares will be sold at the market price. This is the third sale of Tesla shares in 2020. […]
The first batch of Pfizer coronavirus vaccine has been delivered to Israel. This was reported by The Jerusalem Post on Wednesday, December 9. “A DHL flight from Brussels carried more than 100,000 doses of the newly created vaccine and landed at Ben Gurion Airport in Tel Aviv around 9 a.m.,” the statement said. The doses […]
The American oil and gas giant Exxon Mobil had one of the worst years in its history. Exxon shares have fallen by 45.36% since the beginning of 2020. The company has lost money for three quarters in a row, and in August they were excluded from the benchmark index of “blue chips” Dow Jones Industrial […]
Shares of Pfizer and BioNTech fell 1.74% and 2% (respectively) on Thursday amid news that companies will deliver half of their planned number of vaccines against COVID-19 in 2020. On November 20, Pfizer and its German partner BioNTech applied to the FDA (US Food and Drug Administration) for permission to use their vaccine in an […]
Chinese e-commerce company JD.com Inc announced on Saturday that it will be the first platform in the country to accept China’s digital currency. The Central Bank of China will hold its second digital yuan lottery among citizens of Suzhou, near Shanghai on Friday. The total amount of playable digital yuan is 20 million ($ 3.06 […]
The increase of the minimum wage in Ukraine from UAH 5,000 to UAH 6,500 in 2021 may increase the state budget deficit to more than 6% of gross domestic product. This is stated in the economic review of the World Bank. In addition, the increase in the minimum wage will increase the overall need to […]Next
Lactalis dairy products manufacturer has signed an agreement with the Italian company Parmalat – one of the main competitors of the French group in Europe. According to official information, it is about the acquisition of more than 12.2% of the shares of Parmalat: the value of one security is 2.8 dollars per piece. It should […]Next
Currently, there are no threats to Ukraine’s visa-free travel with the European Union. Required joint efforts of all political forces in Ukraine to continue the movement towards the EU. This was stated by the Minister of Foreign Affairs of Ukraine Dmytro Kuleba on the talk show “Freedom of Speech” on ICTV. According to him, there […]Next
In August, oil production in the UAE rose to 2.69 million barrels per day, while under the OPEC + agreement the quota is 2.59 million barrels. This was announced on Tuesday, September 1, Minister of Energy Suhail al-Mazrui. Exceeding the quota of 100 thousand barrels per day was caused, according to the official, by increased […]Next
The “Bunge Ukraine” company launches a new oil-extraction plant in Mykolaiv region. The estimated capacity is 2400 t / day. According to the “APK-Inform”, as referred to the sources of the company, the “Bunge Ukraine” company plans to put into operation the oil-extraction plant in Mykolaiv region in the coming months. Currently, the pre-commissioning activities […]Next
KSG Agro has received permission to export pork to Georgia. The first shipment is scheduled for June. “Pig-breeding business of KSG Agro has successfully passed the test of the National Food Agency of the Ministry of Agriculture of Georgia and received permission for the supply of pork to the country”, – said in a statement […]Next
Current and former Deutsche Bank staff have been questioned by the Serious Fraud Office in recent weeks in relation to the investigation into Libor rate-rigging. Traders have been interviewed about the manipulation of the London interbank offered rate and its euro counterpart, Bloomberg has reported. The interviews come shortly after the conviction of former UBS […]Next
The world’s largest car manufacturing company Volkswagen, which has recently been involved in a major diesel scandal for understating of emissions of harmful substances into the atmosphere, will now be sued in court on charges of violation of environmental legislation. Recently the USA Department of Justice filed a civil suit in federal court. The statement […]Next
INTENDED POTENTIAL Each country possesses certain positive qualities that enable it to compete for investment when attracting foreign capital. These can be natural resources, geopolitical features, the legal system, level of production, technological and cultural development, etc. Since Ukraine has declared its independence, a certain rating of its investment attractiveness potential has also emerged. Land […]Next
Shares of BlackBerry jumped sharply on auction on December 1 after the news of a partnership with Amazon Web Service. Together they will develop and sell a service for connected cars – IVY platform. Stock quotes at the beginning of trading on the New York Stock Exchange (NYSE) rose by 35%. The company’s first plans […]Next
The decision of the Constitutional Court violates Ukraine’s obligations to Western creditors. This was reported by the Ministry of Finance with reference to the statement of the head of the department Serhiy Marchenko. He addressed to the assessments of the World Bank management regarding the decision of the Constitutional Court on the officials’ e-declarations. “They […]Next
Two scientists from Lviv won the competition of projects of the National Research Fund of Ukraine. They will be provided with funds for developing a vaccine against the corona virus COVID-19, as well as to create a new generation of antibiotics. This was announced on Wednesday, September 9, by the head of the Lviv Regional […]Next
New maximum possible amount for calculating the cash will be installed since January, 4 this year by National Bank of Ukraine. It will now be the ultimate indicator of 50 thousand UAH instead of the previous 150, according to the source delo.ua. These rules are specified in the decision № 407 of the National Bank […]Next
The net loss of the Japanese automaker Nissan Motor in the first half of 2020-2021 fiscal year amounted to 330 billion yen ($ 3.1 billion) against a profit of 65.4 billion yen (about $ 620 million) a year earlier, follows from the financial statements of the company. The loss per share was 84.33 yen ($ […]Next
Quotes of some international banks began to fall after the leakage of FinCEN files. This was reported by the publication Ukrainian Capital with reference to the auction data. The files contain information on suspicious transactions worth $ 2 trillion through the world’s largest banks. Shares of Deutsche Bank, which, according to FinCEN files, conducted transactions […]Next
French actress and director Maylis de Poncins, author of the sensual short film “Je suis dons tu es” (“I am, therefore you are”), became one of the favorites in the qualifying round of the Only 140 seconds and a lot of meanings – the film won’t leave you indifferent! Maylis de Poncins is a young actress who has proven […]Next