20 July 2017


  • Cargo logistics network has gained critical importance for many Chinese enterprises. Photo: GLP

    Logistics seen as new lifeblood of China economy

    - Jul 20, 2017 12:23pm
    Oil has been long considered the lifeblood of the global economy. Nations have tried their best to protect oil shipping routes. But oil dependence has started to fall thanks to nuclear energy and technological advances in new...
  • Electric cars are seen at a parking lot of an automobile factory in Xingtai in Hebei province. Foreign automakers have complained against key elements of China's new energy vehicles policy. Photo: Reuters

    Foreign automakers urge China to ease electric car quotas

    Jul 14, 2017 9:03am
    Global automakers called on China to delay and soften planned quotas for sales of electric and hybrid cars, Reuters reports. In a letter to China’s Ministry of Industry and Information Technology, the automakers complained that Beijing’s current proposals...
  • Orient Overseas Container Line, controlled by the family of former Hong Kong Chief Executive Tung Chee-hwa, is set to pass into the hands of a Chinese state-owned shipping giant. Photo: Bloomberg

    Cosco takeover of Orient Overseas fits a pattern

    - Jul 11, 2017 2:16pm
    Ending weeks of speculation about a mega shipping industry deal, China’s Cosco Shipping Holdings announced on Sunday that it has reached a HK$49.2 billion (US$6.3 billion) agreement to acquire Hong Kong-based Orient Overseas International. Under the...
  • Model 3, which is aimed at the mass market, is expected to help Tesla deliver five times its current annual sales volume. Photo: Tesla

    Tesla rolls out first Model 3 for CEO Elon Musk

    Jul 11, 2017 7:45am
    Tesla Inc. rolled out the first Model 3 unit from the assembly line, and it’s for chief executive Elon Musk, who tweeted pictures of the US$35,000 sedan. Tesla board member Ira Ehrenpreis was the first to...
  • The deal would make COSCO Shipping the world's third largest container shipping line after Maersk and MSC. Photo: AFP

    COSCO Shipping offers US$6.3 billion for Orient Overseas

    Jul 10, 2017 9:02am
    COSCO Shipping Holdings Co. Ltd. (601919.CN) has offered to buy Orient Overseas International Ltd. (OOIL) (00316.HK) for HK$49.23 billion (US$6.30 billion), in a deal that will see the mainland China group become the world’s third largest...
  • Qatar Airways has put the blame for the cancellations squarely at the feet of Airbus. Photo: Reuters

    Airbus in US$1 bln dilemma as Qatar cancels four jets

    Jul 7, 2017 8:09am
    Qatar Airways has axed orders for four A350s because of delivery delays, handing the European planemaker a new headache over what to do with jets worth US$1.2 billion, Reuters reports. The cancellations came as Airbus struggles to...
  • Vovo Cars CEO Hakan Samuelsson has unveiled plans to fully move away from vehicles with traditional internal combustion engines. Photo: Bloomberg

    Volvo to fully switch to electric and hybrid cars from 2019

    Jul 6, 2017 12:53pm
    Volvo, which is owned by China’s Geely Holding Group, said on Wednesday that all new vehicles launched by the company from 2019 will be either fully electric or hybrid.  In a statement, the automaker’s CEO Hakan Samuelsson said...
  • The double-deckers could be 'parted out' to recover engines and other spares worth at least US$100 million per plane. Photo: Airbus

    Breaker’s yard beckons for Airbus A380 if new homes aren’t found

    Jul 4, 2017 8:44am
    Airbus SE’s A380 superjumbo faces the ignominy of being broken up for spare parts if second-hand operators for the oldest jets can’t be found in coming months, Bloomberg reports. The double-deckers could be “parted out” to...
  • A prototype of the Tesla Model 3 is on display in front of the Tesla Gigafactory which will produce batteries for the electric carmaker. Photo: Reuters

    Tesla deliveries at low end of forecast as Model 3 looms

    Jul 4, 2017 7:56am
    Tesla Inc. said it delivered about 47,100 electric sedans and SUVs in the first half of 2017, at the lower end of its own forecasts, shortly after chief executive Elon Musk announced that production of its...
  • China’s logistics sector now accounts for a quarter of the US$9-trillion-a-year global industry. Photo: Reuters

    China’s Best Logistics files for New York IPO

    Jun 27, 2017 8:31am
    A Chinese logistics company backed by Alibaba Group Holding Ltd. has filed for an initial public offering in New York. Best Logistics Technologies Ltd., based in Alibaba’s hometown of Hangzhou, said on Monday it plans to...
  • Huge costs stemming from product recalls have led to air-bag maker Takata getting mired in financial woes in recent years. Photo: Bloomberg

    Japan’s Takata to file for bankruptcy: reports

    Jun 26, 2017 8:24am
    Takata Corporation, the Japanese air-bag maker that is at the center of the auto industry’s biggest ever product recall, decided on Monday to file for bankruptcy protection in Japan with liabilities of more than 1 trillion...
  • American Airlines CEO Doug Parker said the carrier is against companies that are "illegally subsidized by their governments". Photo: Bloomberg

    American Airlines pushes back on Qatar Airways plan to buy stake

    Jun 23, 2017 8:18am
    American Airlines’ chief executive said he is not “particularly excited” about Qatar Airways’ interest in buying up to 10 percent of the US carrier’s shares, Reuters reports. The move by state-owned Qatar Airways to expand its...
  • Tesla wants to build electric cars in China to avoid a 25 percent tariff on imported vehicles. Photo: AFP

    Tesla moves a step closer to building electric cars in China

    Jun 23, 2017 7:31am
    Tesla Inc. took a step closer toward establishing an electric vehicle manufacturing plant in China with its announcement that it is in exploratory talks with the Shanghai municipal government, Reuters reports. Tesla has said it wants...
  • Travis Kalanick, 40, has faced increased scrutiny in recent weeks following an investigation into the culture and workplace practices at Uber. Photo: Reuters

    Uber CEO Travis Kalanick resigns under investor pressure

    Jun 21, 2017 4:25pm
    Uber Technologies Inc. chief executive Travis Kalanick, co-founder one of the most influential technology companies of its generation, has resigned under mounting pressure from investors over his leadership, Reuters reports. Kalanick’s departure caps a tumultuous period...
  • Ford said no US jobs will be affected by shifting the production of Focus to China. Photo: Ford

    Ford moves production of Focus small cars to China

    Jun 21, 2017 8:43am
    Ford Motor Co. said it will move some production of its Focus small car to China and import the vehicles to the United States in a long-term bet on low oil prices and stable US-China trade...
  • State-owned COSCO Group’s COSCO Shipping unit is the world’s fourth largest container operator with an 8.5 percent market share. Photo: Bloomberg News

    COSCO Group nears US$4 bln takeover of Orient Overseas: WSJ

    Jun 21, 2017 8:37am
    Chinese conglomerate COSCO Group is in advanced discussions to acquire smaller shipping rival Orient Overseas Container Line Co. for at least US$4 billion in a deal that could be reached as early as July, the Wall...
  • Beginning on Tuesday, drivers in Houston, Minneapolis and Seattle can collect tips. The feature will be available to all drivers in the US by the end of July. Photo: Reuters

    Uber to allow drivers to accept tips

    Jun 21, 2017 8:12am
    Uber said on Tuesday it will for the first time allow drivers to collect tips through its smartphone app, an about-face from previous company policy, as part of the ride-services firm’s broader effort to improve an...
  • Uber Hong Kong general manager Kenneth She is urging the government to review the current regulations to cater to the need for an alternative to taxi services. Photo: EJ Insight

    Uber calls for talks with incoming administration

    Jun 20, 2017 12:35pm
    Uber said it welcomes future discussions with the incoming administration, saying the majority of Hong Kong people support an alternative transport service to taxis. This follows a survey by the Chinese University of Hong Kong’s Centre...
  • Boeing chairman and CEO Dennis Muilenburg (left) and Boeing Commercial Airplanes president Kevin McAllister launch the Boeing 737 MAX 10 at the Paris Air Show on Monday. Photo: Reuters

    Boeing launches new jet with flurry of orders

    Jun 20, 2017 8:07am
    Boeing unveiled a new version of its bestselling 737 aircraft at the world’s biggest air show in Paris, injecting life into a faltering civil aviation market, Reuters reports. After years of booming orders driven by increased...
  • Tesla has said the car's Autopilot mechanism "does not allow the driver to abdicate responsibility". Photo: Reuters

    Tesla driver in fatal crash ignored warnings: US report

    Jun 20, 2017 7:59am
    A man killed in a crash last year while using the semi-autonomous driving system on his Tesla Model S sedan kept his hands off the wheel for extended periods of time despite repeated automated warnings not...

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