A Chinese internet giant that has rallied 122% over the last 12 months is still getting bullish calls from analysts who say there’s further upside to the stock — thanks to new areas of business like autonomous vehicles. Analysts from Jefferies and Mizuho upgraded their price targets, expecting it to go up to 25% higher. Read more
China dethroned the U.S. last year to become Europe’s top trading partner for the first time, data from the European statistics office has shown. European Union exports to China grew by 2.2% last year and imports rose by 5.6%. In comparison, exports to the U.S. dropped by 8.2% and imports fell by 13.2%. The latest figures, […] Read more
Secretary of Defense Lloyd Austin will meet with members of the world’s most powerful military alliance on Wednesday for the first time since joining the Biden administration. NATO meets Wednesday and Thursday to discuss an array of challenges facing the 30-member group. The virtual meetings will be a glimpse into President Joe Biden’s foreign policy […] Read more
Sinovac Biotech said on Saturday that its unit’s Covid-19 vaccine has been formally approved for use by the general public by China’s medical products regulator. It marks the second Covid-19 vaccine green-lighted for public use in China, after a shot developed by a Beijing institute affiliated to state-owned China National Pharmaceutical Group (Sinopharm) was approved in […] Read more
LONDON — Britain’s broadcasting regulator said on Thursday that it had withdrawn the license for China Global Television Network, an international news channel owned by a Chinese state broadcaster, to operate in the country in part because its affiliation with the Chinese Communist Party violates broadcasting laws. License holders must have editorial oversight over their content and […] Read more
GUANGZHOU, China — Alibaba reported profitability for its cloud computing business for the first time in a continued push to diversify its business beyond e-commerce as it faces regulatory scrutiny in China. The Chinese tech giant reported adjusted EBITA (earnings before interest, taxes, and amortization) of 24 million yuan ($3 million) for its cloud business in the […] Read more
FRANKFURT — Putting trade and business interests first has always been the German government’s mantra when it comes to the country’s relationship with China and Russia. With “Wandel durch handel,” which translates as “change through trade” in the case of China, German officials have effectively been trying to use its economic ties to push Beijing […] Read more
SINGAPORE — Vietnam is likely the top-performing Asian economy in 2020 — a feat that was achieved without a single quarter of economic contraction at a time when many economies globally were weighed down by the coronavirus pandemic. Not every Asian economy has reported fourth-quarter and full-year economic numbers. But estimates compiled by CNBC from […] Read more
Goldman Sachs has named the Chinese stocks to buy in order to cash in on the country’s “clean tech revolution.” The bank’s analysts described this year as an “inflection point” for clean energy in China, and estimated that the country’s ambition to become carbon neutral by 2060 was a $16 trillion investment opportunity. Off the back […] Read more
Google believes that hackers in North Korea are pretending to be cybersecurity bloggers and targeting researchers in the field on social media platforms like Twitter and LinkedIn. The search giant announced that its Threat Analysis Group has “identified an ongoing campaign targeting security researchers working on vulnerability research and development at different companies and organizations.” It […] Read more
