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Tencent, the Chinese multinational conglomerate, has extended its cross-border payment service, TenPay Global, to non-Chinese citizens. This move allows overseas individuals to send money directly into China and avail themselves of WeChat-related services.…
The internet giant said Wednesday that Tencent Holdings Ltd. will distribute 90% of its holdings in meal delivery giant Meituan to shareholders as a special dividend. Tencent will hand out 958 million of Meituan’s B shares to shareholders at a rate of one…
Cloud computing momentum continues to build in Asia as cloud giants channel more attention toward the fast-growing region. Demonstrating this, Oracle Cloud, Google Cloud and Tencent Cloud successively announced – within a week’s time in August – expansion…
Tencent Cloud and technology services provider Acclivis Technologies and Solutions announced that they have signed a strategic partnership to bring private, public and hybrid cloud and ICT solutions to enterprises in Southeast Asia, mainland China and Hong…
China has imposed fines on technology giants Alibaba and Tencent, as well as a range of other firms for failing to comply with anti-monopoly rules on the disclosure of transactions, the country’s market regulator, said on Sunday. The State Administration for…
Chinese social media and gaming giant posted its slowest ever growth since going public in 2004. The company grew just 8 percent in the fourth quarter. This is reflecting regulatory scrutiny which has affected has hurt its gaming and advertising sales. China…
Similar to rival Ant Group, Tencent has also been ordered to set up a holding company to contain its finance-related businesses. Regulators told Tencent to place its finance-related businesses into a new financial holdings company for better supervision,…
Chinese fintech giants Ant Group and Tencent are the latest to attempt to inspire calm in markets after they told investors not to overreact to price swings and avoid making hasty decisions. Alipay, Ant Group’s payment arm, issued a letter earlier this week…
Chinese community grocery shopping app Xingsheng Youxuan has raised about US$2 billion in a new funding round that values the company at US$6 billion prior to the fresh capital injection, three people with knowledge of the matter said. Private equity firms…
Just weeks before the end of the current U.S. administration, authorities are reportedly discussing the expansion of a blacklist of companies linked to China’s military with the inclusion of major tech giants, Alibaba and Tencent. Discussions considering the…
The Chinese technology conglomerate is pushing ahead with global expansion plans, despite recent app bans in India and the United States. Tencent is planning to open a new office in Singapore, which will be its regional hub for Southeast Asia, where it also…
Chinese gaming and social media giant Tencent Holdings said second-quarter net profit rose 37 percent, beating market estimates, on higher demand for its video games as coronavirus put a dent in other entertainment options. Revenue from online games, which…
Luxury fashion label Burberry has teamed with technology giant Tencent to launch its first social retail store in Shenzhen, China. Located in the new Shenzhen Bay MixC development, the Burberry social store features a unique design with a variety of materials…
Chinese social networking and gaming giant Tencent is partnering with Tim Hortons China to expand the Canadian coffee house’s rollout. Tencent announced the partnership on its Chinese social media accounts without disclosing any financial details. Tim Hortons…
Soaring costs saw Tencent Holdings report a net income of US$13 billion for last year, after a slow fourth quarter, which concerned analysts given the subsequent impact of the coronavirus crisis since January. Costs rose 20 percent last year as the social…
The Shenzhen-based firm will provide the tech for the country’s national blockchain consortium. WeBank, China’s first digital bank, will provide the technical infrastructure for the country’s nationwide blockchain-based service network (BSN), according to a…
