Tag: investment

Alibaba to invest $28 billion in cloud services after coronavirus boosted demand | Reuters

“Alibaba Group Holding Ltd (BABA.N) said it will invest 200 billion yuan ($28 billion) in its cloud infrastructure over three years – a plan that follows a boom in demand for business software as the coronavirus outbreak peaked in China.

The company said in a statement it will spend the funds on semiconductor and operating system development as well as building out its data centre infrastructure.”

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Alibaba to invest $28 billion in cloud services after coronavirus boosted demand
Alibaba Group Holding Ltd said it will invest 200 billion yuan ($28 billion) in its cloud infrastructure over three years – a plan that follows a boom in demand for business software as the coronavirus outbreak peaked in China.

Tencent bets big on AI development with investment in two startups | KrASIA

“Chinese internet giant Tencent (HKG: 0700) has placed a strategic bet on the AI industry by investing in two companies, local media Caijingtuya reported on Monday.

Through the Tencent Industry Win-Win Fund, the corporate venture arm of Tencent, the internet giant took a 2.44% stake in Ningbo-based AI vision company Qting Vision on Sunday, just one day after it obtained a 1.23% stock in Beijing-based Sinoits Tech, according to enterprise data provider Tianyancha. Financial details of both deals were not disclosed.”

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Tencent bets big on AI development with investment in two startups
The two companies are among seven startups the giant has invested in via its Tencent Industry Win-Win Fund since March.

Tencent unveils investments for virus-hit Wuhan | Phnom Penh Post

“Tencent Holdings Ltd has announced a string of investment plans in Wuhan, the city where the novel coronavirus first emerged and which has just lifted months-long lockdown.

The internet giant pledged to invest in digital government, online education, smart transportation and artificial intelligence in the city, with a goal of quadrupling the number of employees in five years.

Tencent will push ahead with the Tencent (Wuhan) Digital Industry Headquarters in the city, where it aims to embark on digital governance and smart city initiatives.”

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Givaudan doubles flavour production capacity in China with expansion of Nantong manufacturing facility | Givaudan

Givaudan, the world’s leading flavour and fragrances company, today officially inaugurated a new extension to its Nantong manufacturing facility aimed to support the capacity on liquid flavour production for beverages, dairy and sweet goods. This move will double the Company’s flavour production capacity in China. The CHF 30 million expansion brings the Company’s total investment on the Nantong facility to CHF 80 million.

@ Givaudan | November 27, 2019

China, Greece agree to push ahead with COSCO’s Piraeus Port Investment | PortandTerminal.com

“China and Greece agreed on Monday to push ahead with a 600 million euros ($660 million) investment by COSCO Shipping into Greece’s largest port, Piraeus, as part of efforts to boost its role as a hub in rapidly growing trade between Asia and Europe.

The agreement, part of 16 trade deals signed between Greece and China, came during an official visit by Chinese President Xi Jinping to Athens on Monday.

The two countries have drawn closer since 2009 when COSCO won a 35-year concession to upgrade and run container cargo piers in Piraeus. COSCO Shipping bought a majority 51% stake in Piraeus port in 2016.”

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China, Greece Agree to Push Ahead with COSCO’s Piraeus Port Investment – PortandTerminal.com
November 11, 2019 by Reuters COSCO plans to turn Piraeus port into the biggest commercial harbour in Europe, spending about 600 million euros ($660 million) to boost operations ATHENS, GREECE – China

Takeda to sell stake in Chinese JV | The Pharma Letter

Japanese pharma major Takeda (TYO: 4502) is to sell its majority share in Guangdong Techpool Bio-Pharma.

Techpool is a joint venture (JV) that Takeda has held a 51.34% stake in, with a focus on the research, discovery and marketing of urinary protein biopharmaceuticals and production of biopharmaceuticals in critical care.

@ The Pharma Letter | May 22, 2018

Shenzhen Salubris Pharmaceuticals Announces Investment and In-Licensing Agreement With MedAlliance to Bring Novel Cardiovascular Disease Therapy to China | Business Wire

Splendris International Limited, an affiliate of Shenzhen Salubris Pharmaceuticals Co Ltd. (Salubris), a multi-national leader in the development and commercialization of cardiovascular products in China and beyond, today announced a strategic investment and in-licensing agreement with Swiss cardiovascular pioneer M.A. MedAlliance S.A. (MedAlliance). Under the terms of the agreement, Salubris will make a $20 million equity investment in MedAlliance and will commit an additional $10 million in developmental milestones in exchange for exclusive rights to develop and commercialize MedAlliance’s lead investigational product Selution, a potential best-in-class sirolimus micro-reservoir drug-coated balloon (DCB), for peripheral and cardiovascular applications in the Chinese market. MedAlliance will also be eligible for royalty payments on sales.

@ Business Wire | May 21, 2018