Category: News

Chinese Crypto Tycoon Xu Mingxing Dismisses Rumors On Being Investigated For Fraud

Chinese cryptocurrency exchange platform OKCoin Thursday dismissed rumors that CEO and founder Star Xu is facing charges or investigation for fraudulent practices on its virtual trading platform. The Chinese cryptocurrency tycoon Star Xu, goes by Xu Mi……


Chinese EV Maker NIO Raises $1B In US IPO

Chinese electric vehicle start-up NIO Inc. officially entered the U.S. stock market with a US$1 billion initial public offering (IPO), becoming the first Chinese electric vehicle firm to go public in America. NIO announced the pricing of its IPO of 160……


Fintech Companies Can ‘Leap’ Forward To Broader Markets Via Hong Kong, Says City’s Fintech Regulator

Asia’s financial hub Hong Kong is seeking to promote city’s prominence in the world’s fast-evolving fintech industry by acting as a “springboard” to help companies leap forward to broader markets, especially mainland China. Hong Kong ……


Alibaba Sets Up $2B JV With Kremlin-Backed Fund, Billionaire Usmanov’s Mail.ru

China’s e-commerce giant Alibaba Group Holding is setting up a US$2 billion joint venture with Kremlin-backed fund, telecom company MegaFon and billionaire Alisher Usmanov’s internet firm Mail.ru Group to expand its e-commerce business in R……


Hong Kong Ups Support To Start-Ups As Government Increase Capital Allocation To Tech Firms

Hong Kong government has significantly increased policy support to start-ups, as the city continues its effort to turn itself into an innovation-led economy. “Hong Kong is serious in promoting its technology innovation,” said Carrie Lam Cheng Yuet-ngor……


Tencent To Shutdown Gambling-Related Poker Game As Beijing Tightens Control Over Gaming Industry

Chinese tech giant Tencent Holdings Limited announced yesterday that the company will shut down a popular Texas Hold’Em poker video game in late September, in response to Beijing’s intensifying crackdown on the country’s gaming indust……


US Assembled iPhone May See Prices Up By 20%

US President Donald Trump’s call to migrate Apple’s assembly line back to the States will impact prices of iPhones, with likely increase of up to 20%, according to Bank of America Merrill Lynch. Apple had last week filed an objection to ove……


China’s Hailong 11000 Dives 5,630 Meters Under Sea, Sets Ocean Depth Record

China’s unmanned submersible Hailong 11000, also known as Sea Dragon 11000, has set a national record by descending 5,630 meters into the sea during a test dive in the northwestern Pacific Ocean, said Ministry of Natural Resources in a statement ……


CMU Dean Andrew Moore To Join Google Cloud As New AI Chief By Year End

Andrew Moore, Dean of the School of Computer Science at Carnegie Mellon University (CMU), is set to become the new chief of Google Cloud AI by end of the year after serving four years at the university. As originally planned, Google Cloud’s current lea……


China Arrests 33,000 For Cyber Crimes in Six Months, Baidu, Sino Weibo Penalized Too

The Chinese Ministry of Public Security has detected over 22,000 cyber criminal cases and arrested over 33,000 suspects in first six months of its drive against online crime. The crack down started in February when the ministry deployed national public……