Tag: Agreements

IBM, Inspur Set Aside Rivalry After Partnership Announcement

By Ellen Huber On August 22, International Business Machines Corp. (IBM) and China’s Inspur Group Co., Ltd. (Inspur) announced that they have agreed to join a partnership involving IBM’s software and Inspur’s hardware in hopes to bolster their own businesses...

/ September 5, 2014

IBM Teams up with Beijing to Map Air Pollution

By Andrew Gong International Business Machines (IBM) Corp. announced Monday that it has signed a contract with the Beijing Municipal government to help curb the capital’s air pollution. The agreement is part of IBM’s “Green Horizon” initiative, a 10-year program...

/ July 9, 2014

BP, CNOOC Lead $24 Billion Deal-Signing Spree at UK-China Summit

By Andrew Gong BP signed a $20 billion agreement with China National Offshore Oil Corporation (CNOOC) this week as part of a series of trade deals struck during Chinese Premier Li Keqiang’s visit to the United Kingdom. The deal, which...

/ June 18, 2014

Alibaba to Purchase 50 Percent Stake in Guangzhou Soccer Team

Ecommerce giant Alibaba Group recently agreed to purchase a 50 percent stake in a popular Chinese soccer team. The deal, worth ¥1.2 billion ($192 million), was announced Thursday at a news conference in Guangzhou. The club, Guangzhou Evergrande F.C., owned...

/ June 11, 2014

Alibaba to Purchase 10 Percent Stake in Singapore Post for $249 Million

Alibaba Group Holding Ltd. has agreed to pay $249 million for a 10.4 percent stake in Singapore Post Ltd., also known as SingPost, in a deal that could expand Alibaba’s logistics business to new markets overseas, according to a statement...

/ May 30, 2014

CNPC Inks $400 Billion Natural Gas Deal with Russia’s Gazprom

By Andrew Gong China and Russia signed a massive natural gas deal worth up to $400 billion on Wednesday, strengthening the economic relationship between the neighboring countries amid ongoing tensions with the United States. Representatives from China National Petroleum Corporation...

/ May 21, 2014

Shandong Airlines Buys 50 Boeing 737s for $4.6 Billion

China’s Shandong Airlines Co. Ltd. will purchase 50 Boeing 737s for a total of $4.6 billion, according to a company statement released on Monday. The deal includes 16 of Boeing’s 737-800 model and 34 of its 737 MAX model, to...

/ April 23, 2014

Alibaba Affiliate to Pay $1.05 Billion for 20 Percent Stake in Wasu Media

Hangzhou Yunxi Investment Partnership Enterprise will pay $1.05 billion for a 20 percent stake in Wasu Media Holding Co. Ltd. Yunxi, an investment vehicle established by Alibaba co-founders Simon Xie and Jack Ma and Giant Interactive Group Inc.’s founder Shi...

/ April 11, 2014

Alibaba to Invest $692 Million in Department-Store Operator Intime

Alibaba Group Holding Ltd., China’s largest e-commerce company, has agreed to purchase a 26 percent stake in department-store operator Intime Retail Group Co. for $692 million. As part of its first brick-and-mortar investment, Alibaba will buy $214 million in shares...

/ April 7, 2014

Bank of England and People’s Bank of China to Sign Yuan Clearing Deal

By E.J. Thomas Britain and China have agreed to sign a memorandum next week that may turn London into the home of the first yuan clearing center outside of Asia.  This new clearing center will allow London to settle yuan-denominated...

/ March 28, 2014