ZTE’s controlling shareholders plan on selling upto 3% shares

Chinese telecom company ZTE Corp had been subject to U.S. sanctions. Its controlling state-owned controlling shareholder Zhongxingxin Telecom plan on selling as much as 2% of its shares once the stock has doubled its value. According to regulatory filing, the controlling stakeholders of China’s ZTE Corp’s plan to slash their stake, by as much as…

China flexes geo-economic muscles in references to Taiwan and Hong Kong

A report by a top government-linked think tank has listed out foreign companies that have used “incorrect labels” while referring to Taiwan and Hong Kong. The report has prompted a stern reply from Taipei. In a development that marks China’s growing pressure tactics on Taiwan and Hong Kong, in a report, the Chinese Academy of…

China’s Ministry of Finance pulls up Xiaomi over accounting errors

The development piles up more investor pressure on Xiaomi’s stock, which is already down by 30% since its July 2018 IPO. On Tuesday, Chinese authorities disclosed, smartphone maker Xioami Corp had committed accounting errors. With the news reaching the market, Xioami’s Hong Kong-listed shares turned south midst a wider sell-off of China tech stocks. In…

India’s Ola expands its ride hailing services into New Zealand

Ola is steadily expanding its footprint in overseas markets. Earlier this year, it had forayed into the UK and the Australian ride-hailing markets. On Tuesday, Indian ride-hailing platform Ola said it plans on expanding its operations to New Zealand. The move underscores its latest push overseas as it ups its rivalry with its peer, Uber…