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Indonesian diversified conglomerate Lippo Group has invested Rp 628 billion ($45 million), or 350 million Hong Kong dollars, in Chinese internet giant Tencent, the world’s eighth most valuable listed company and owner of leading internet services including…
The technology world’s most bruising battle for supremacy is taking place in China. And it could point to Big Tech’s future everywhere else, too. Tencent Holdings and the Alibaba Group are ratcheting up their no-holds-barred contest to dominate the ways 770…
Dalian Wanda Group and Tencent Holdings Ltd will join forces to set up an internet technology firm, strengthening their position in retail. Dalian Wanda, which Is the largest property developer in China, will own 51% of the venture and Tencent 42.48%, with…
Bui Mai Phuong is an avid online shopper, ordering anything from clothing to personal-care products from her smartphone. But she prefers to pay with cash. She is among hundreds of millions of people whom firms such as Softbank Group-backed Grab and China’s…
Carrefour China has opened its first-ever ‘smart supermarket’ in Shanghai in partnership with Tencent, four months after the parent company of the WeChat app bought a stake in the French retailer. Covering 4000sqm over two levels in Changning district, the…
Indonesian ride-hailing and online payment firm Go-Jek on Thursday said it would enter Vietnam, Thailand, Singapore and the Philippines in the next few months, investing $500 million in its international push. The move will start with ride-hailing services…
WeChat parent Tencent Holdings has achieved a 48 per cent increase in revenue during the first quarter of this year. Revenue from Smartphone games, payment-related services, digital-content subscriptions and sales, and social advertising were key contributors…
Tencent Holdings Limited, a China based investment holding firm, and Tourism Malaysia are planning to jointly set up a data center in Cyberjaya, Malaysia. Sources claim that the strategic move is a part of the Smart Tourism 4.0 program launched recently in…
Asian markets sank on Tuesday following sharp losses in New York as a massive data breach at Facebook fuelled fears of a regulatory crackdown on the technology sector. The scandal at the social media giant come as investors fret over a possible increase in…
Tencent Holdings and JD.com are buying minority stakes in Chinese retailer Better Life Commercial Chain Share. A Tencent subsidiary is paying RMB886.9 million (US$140 million) for a 6 per cent shareholding, while a JD.com subsidiary is paying RMB739.1 million…
China’s tech giants Alibaba Group Holding Ltd and Tencent Holdings Ltd, worth a combined $1 trillion, are on a retail investment binge, forcing merchants to choose sides amid a battle for shoppers’ digital wallets. Since the start of last year, the two…
Three Chinese e-commerce giants led by Tencent are buying into shopping centres as part of an alliance that will help fund property magnate Wang Jianlin’s HK$30 billion (US$3.8 billion) plan to take his Dalian Wanda Group private. Jianlin describes it as the…
Tencent has expanded its WeChat Pay user base to Hong Kong residents, who now will not need to have a Chinese bank account or credit card to take advantage of the Mainland’s popular cashless payment system. With the announcement, Hong Kong residents can now…
Carrefour is to cut jobs, boost ecommerce investment and seek a partnership in China with Tencent in the face of competition from Amazon, sending its shares higher on Tuesday. Alexandre Bompard, who took over as CEO in July, is trying to overhaul Carrefour’s…
Chinese messaging app WeChat has launched its first cashierless pop-up store in Shanghai. The Tencent company has teamed with more than 300 merchants, including EasyGo and Elle, as well as shopping mall The Mixc to build up its first “flash retailing” pop-up…
Danish fashion retailer Bestseller has opened smart stores in Shenzhen and Guangzhou for its Jack & Jones and Vero Moda brands. Facial-recognition technology from Tencent’s Youtu Lab is used to register shoppers in store, enrolling them in WeChat Pay’s AI…
