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Alibaba’s Logistics Division Plans $2 Bn Hong Kong IPO

Alibaba’s logistics arm aims to raise up to USD 2 billion via a listing in Hong Kong likely early next year, sources with knowledge of the matter said, bolstering hopes for a capital markets revival in the Asian financial hub. Cainiao Network Technology’s initial public offering (IPO) plan comes after Alibaba flagged in late March […]

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Samsung Cuts Memory Chip Output On Weak Demand Amid Supply Glut

Samsung Electronics said on Friday that it was reducing memory chip production after it flagged a 95.8 per cent plunge in first quarter’s operating profit from the same period last year, as a downturn in semiconductor demand hurts it and other manufacturers of the components, according to Nikkei Asia. “The company is cutting memory production […]

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