BEIJING: Chinese telecoms equipment giant Huawei Technologies Co Ltd, battered by U.S. sanctions, expects 2021 revenue to have declined nearly 30% and predicted continued challenges in the New Year.
Tagged By business
Asian stocks fillip by China tech rally
Hang Seng Tech Index rose about 4% and China climbed in wake of Nasdaq Golden Dragon China Index’s biggest one-day jump since 2008 on Thursday, though it’s still down more than 40% for 2021.
China factory activity edges up in December as commodity prices ease
Manufacturing activity in China edged up in December, official data showed Friday, beating expectations as the price of commodities eased and despite sporadic closures due to Covid outbreaks. The …
Didi reveals US$4.7bil loss ahead of Hong Kong IPO next year
Didi Global Inc disclosed a US$4.7bil (RM19.60bil) loss after revenues shrank in the September quarter, revealing the rising cost of a series of regulatory actions that will force China’s ride-sharing …
China central bank makes biggest weekly cash injection in two months
China’s central bank injected short-term funds through open market operations on Friday, bringing the weekly net cash support to the highest in two months.The People’s Bank of China (PBOC) said it …
China tech giants invest like there’s no stock slump
Amazon’s stock rose 6.5% during 2021, while its closest Chinese equivalent, Alibaba, lost nearly half its market capitalization. So why is Alibab …
China manufacturing activity continues to expand, beating exceptions in December
The official manufacturing purchasing managers’ index (PMI) rose to 50.3 in December, up from 50.1 in November The official non-manufacturing PMI, which measures business sentiment in the services and …
China issues 107.4 mil mt in first batch crude import quotas for 2022
China’s Ministry of Commerce has issued 107.4 million mt in crude import quotas to 36 qualified independent and non-major state-owned refineries in the first batch for 2022, falling 9.4% from the same …
Bitcoin Is Braced For A $6 Billion Earthquake As A Crypto Price Crash Hits Ethereum, BNB, Solana, Cardano And XRP
Bitcoin traders are braced for option contracts worth more than $6 billion to expire on News Year’s Eve—one of the largest options expiries this year that could fuel price …
China’s top 10 tycoons add US$100 billion of wealth while Alibaba, Tencent and Meituan founders surrender US$29 billion in market’s worst year since 2008
A 68 per cent rally in Tesla battery supplier CATL has enriched founder Zeng and a group of top executives The founders of Alibaba, Tencent and Meituan, the trio at the centre of China’s tech…
China Favors Mega-Refiners in Cutting Crude Oil Import Quota
China’s government cut the amount of crude oil import quota awarded to independent oil refiners and favored large, complex processors as it seeks to overhaul the sector. Beijing granted 109 million …
Crypto Biz: The blockchain revolution will cast aside the skeptics, Dec. 23-30
Crypto prices are ending the year with a whimper, but the business of blockchain is as strong as ever heading into 2022.
HSBC Cleared to Take Full Control of China Life Insurance Business
HSBC won regulatory approval to take full control of its life insurance joint venture in China as the global banking giant increases its bet on business in the world’s most populous market. The …
