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Alibaba affiliate invests in rural-focused bank

​The microfinance arm of e-commerce giant Alibaba Group has become the latest big-name investor in Postal Savings Bank of China (PSBC), a commercial bank chasing an IPO.

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SCMP receives preliminary offer from unnamed buyer

SCMP Group, which publishes the South China Morning Post, has confirmed that it has received a preliminary approach from an interested party regarding a possible purchase of the company’s media assets. This includes the newspaper, magazines and outdoor media, custom publishing and events businesses.

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VW Group CEO quits amid emissions scandal

​CEO of Volkswagen Group Martin Winterkorn on Wednesday announced his resignation as the company is caught in an emissions scandal.

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Another SOE bond issue in default risks, a blow to debenture market

China's bond market is likely to be stricken by a second case of stated-owned enterprises (SOE) bond default following Baoding Tianwei Group's declaration of default in April.

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At least 15 Abu Sayyaf members killed in S. Philippines

​At least 15 Abu Sayyaf Group members were killed following a firefight with elite government forces in Indanan town in south Philippine province of Sulu on Wednesday afternoon.

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Japan's Nikkei to buy FT Group for 1.3 bln dollars

​Japan's media company Nikkei Inc. is to acquire the FT Group from British publisher Pearson Plc for 844 million pounds, or 1.3 billion U.S. dollars in cash, ending the market rumors about the new ownership of the global news organization.

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Chinese Yu Yangyi wins Capablanca tournament

Chinese Grandmaster (GM) Yu Yangyi made news at the 50th International Chess Tournament "Capablanca in Memoriam" by winning the contest in the penultimate round in Havana.

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China scolds six more state firms after anti-graft inspection

China's top anti-corruption watchdog publicly criticized six more major state-owned enterprises on Wednesday after inspections uncovered corruption and discipline violations.

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Cuba releases Canadian entrepreneur charged of corruption

Cuba has freed a Canadian businessman who was sentenced to 15 years in prison on corruption charges, his company said on Saturday.

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China's HK-based Sunwah Group launches social services day in Vietnam's HCM City

Sunwah and Friends Social Services and Creativity Day 2015 was launched here on Sunday, attracting participation of over 1,000 people.

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Former senior economic planning official sentenced to life in prison

​A Chinese court sentenced former senior economic planning official Liu Tienan to life imprisonment on Wednesday.

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Philippines secures semi-final slot in ASEAN soccer tournament

The Philippines beat Indonesia 4-0 in Hanoi on Tuesday to secure a place in the semi-finals at the 2014 Association of Southeast Asian Nations (ASEAN) Football Federation (AFF) Championship.

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Chinese group Wanda to expand luxury hotel business globally

China's Dalian Wanda Group is expanding its luxury hotel business, eyeing to establish over 150 premium hotels across the globe by the end of 2018.

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Vietnam gets ready for ASEAN Football Championship

Vietnam is ready for the 2014 Association of Southeast Asian Nations (ASEAN) Football Federation (AFF) Championship final round which will be held in Vietnam and Singapore late November.

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FTSE 100 drops following ECB conference

​FTSE 100 Index, British benchmark stock market gauge, Thursday decreased by 1.69 percent, or 111.13 points, to 6,446.39, as the European Central Bank (ECB) conference disappointed traders.

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China's Wanda to make bln-dollar play in Aussie property market

​The company of China's real estate tycoon, Wang Jianlin, will launch into Australia's property- development market, creating a billion-dollar local arm to invest in new projects, including a long-awaited Gold Coast high-rise complex.

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China's meat scandal probe expands nationwide

An investigation into a meat scandal expanded nationwide as China's top food quality watchdog launched a "thorough" probe on Monday.