In a major move that has caught the attention of the global fast-food industry, Subway, the renowned sandwich chain, has announced its plans to significantly expand its operations in China. The company revealed on Tuesday its intention to open nearly 4,000 new stores across mainland China over the next two decades. This endeavor will result…
The prices of Tesla’s Model S and Model X cars have gone up in China, according to the company’s website on Friday. The electric car manufacturer increased the prices by 19,000 Chinese yuan, or approximately $2,749, for both models and their various versions. The Model S now costs 808,900 yuan, while the Model X costs…
LONDON, UK: Ming Yang Smart Energy Group Limited, a leading wind turbine manufacturer in China, announced its intention to proceed with an offering of Global Depositary Receipts (GDRs) with each GDR representing 5 A shares of the Company, each with a fully paid nominal value of RMB1.00 each. The Offering is expected to raise approximately…
OSLO, NORWAY: Hexagon Purus and CIMC Enric announced the signing of investment agreements to establish a joint production facility in Shijiazhuang, Hebei and the CIMC-Hexagon New Energy Technologies management office and engineering hub in Beijing Daxing District International Hydrogen Development Zone. In addition, the Shijiazhuang and Beijing Daxing governments have made a strong commitment to…
SYDNEY, AUSTRALIA: Commonwealth Bank of Australia (CBA) has entered into a binding sale agreement to sell a shareholding of 10% in Bank of Hangzhou (HZB) to Hangzhou Urban Construction & Investment Group and Hangzhou Communications Investment Group, which are entities majority-owned by the Hangzhou Municipal Government. Total gross proceeds expected to be received by Commonwealth…
DOHA, QATAR: Qatar Petroleum has signed a 15-year LNG supply deal with China National Offshore Oil Corporation (CNOOC) for 3.5 million tons/year from 2022. This is the third deal signed by Qatar this year to ship LNG to China. They’ve also recently signed contracts with Taiwan and Pakistan Qatar Petroleum has entered into a…
LONDON: Superdry Plc announced that following a review of its long-term business plan for its operations in China, it will be taking back full control of the Superdry brand in China. It has reached an amicable agreement with its current local partner Trendy International to exit their joint venture, Trendy and Superdry Holding Limited. This…
PERTH: Medical Developments International Limited (MVP) announced the Chinese National Medical Product Administration (NMPA) has approved the opening of MVP’s Investigative New Drug (IND) application. This application is a critical step and building block to having Penthrox approved for sale in China. MVP’s submission in China is to have Penthrox approved for two separate indications….