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Retail Asia17/11/2022

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 Meituan share for every 10 Tencent shares. Based on Meituan’s Wednesday closing […]

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Retail Asia26/08/2022

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 plans to capture cloud market opportunities in Asia. As one example, Oracle Cloud has just established a […]

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Retail Asia17/08/2022

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 Kong. Tapping Acclivis’ presence in Singapore, Malaysia, Indonesia, Thailand, Philippines and Hong Kong as well as Tencent Cloud’s […]

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Retail Asia11/07/2022

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 Market Regulation (SAMR) released a list of 28 deals that violated the rules. Five […]

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Retail Asia24/03/2022

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 has frozen game approvals since August last year and curtailed gaming time for […]

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Retail Asia31/05/2021

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, according to a Caixin report citing unnamed sources. This follows a report last month that said top financial regulators […]

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Retail Asia12/03/2021

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 in its app to urge investors to take a longer-term view on […]

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Retail Asia22/02/2021

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 FountainVest Partners, Primavera Capital Group and KKR & Co are among investors in this […]

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Retail Asia08/01/2021

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 inclusion have been underway for a few weeks amongst State and Defense Department officials, according to a report citing […]

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Retail Asia16/09/2020

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 has offices in Malaysia, Indonesia, and Thailand, the company said in a […]

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Retail Asia14/08/2020

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 accounts for one-third of total sales, jumped 40 percent in the quarter, primarily driven by smartphone […]

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Retail Asia03/08/2020

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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 and textures ranging from plywood to mirror and high-gloss finishes. Occupying a 539sqm area, […]

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Retail Asia15/05/2020

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 China has traded since early last year and is expected to use the new funding to set up […]

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Retail Asia20/03/2020

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 media and digital company spent money buying new content and securing new users […]

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Retail Asia18/12/2019

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 Chinese state media report. BSN plans to offer infrastructure services for any Chinese or international entity that uses blockchain. According to the agreement, BSN […]

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Retail Asia15/07/2019

Chinese tech giant Tencent Holdings Ltd launched its first overseas video streaming service in Thailand on Friday, as it ramps up its presence outside China. Tencent is diversifying from its core Chinese gaming business, which has been beset by regulatory problems, pushing revenue growth to its slowest-ever in the first quarter. Tencent’s existing Thai user […]

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Retail Asia01/07/2019

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E-commerce giant Amazon has clinched the top spot in the world’s most valuable brand ranking, surpassing Google and Apple, according to a recently released ranking of global companies. The Seattle-based retailer has been valued at US$315.5 billion, up 52 per cent on last year with tech giant Apple coming in second, valued at $309.5 billion […]

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Retail Asia26/02/2019

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In China, there is a big culture of ‘practice makes perfect’. As such, school homework is a battlefield not only for Chinese children, but also for their parents, and teachers, who have the task of reviewing assignments. Technology is increasingly lending a helping hand, though, and now, a Beijing-based online education startup has developed an […]

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Retail Asia31/12/2018

Chow Tai Fook Jewellery Group has signed a memorandum of understanding with Chinese online platform Tencent to allow jewellery purchases using WeChat Pay. In a move to promote “seamless cross-border intelligent consumption”, the agreement allows Hong Kong WeChat users to use the platform’s digital payment solution to make purchases at specified Chow Tai Fook jewellery […]

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Retail Asia10/12/2018

Macy’s China stopped taking orders on Tmall this week and will close its operations by the end of the month. The US department store business said it chose not to renew the contract with Alibaba’s Tmall which ends on December 31. “We sincerely thank you for your support and love of Macy’s, and we will […]

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