7 d. ago Meituan sales weaken, profit plummets amid ‘irrational’ delivery price war

Chinese on-demand local services giant Meituan saw second-quarter earnings fall, as it faced off against Alibaba Group Holding and JD.com in a costly instant delivery price war. Beijing-based Meituan on Wednesday reported weaker-than-expected revenue of 91.8 billion yuan (US$12.8 billion) in the quarter ended June 30. That was up 11.7 per cent from 82.2 billion yuan a year earlier, but fell short of the 93.7 billion yuan estimate by analysts. Net profit for the period tumbled 96.8 per cent to...

Economics

2 w. ago Chinese refiners sweep up Russian oil after Indian demand falls, analysts say

Chinese refiners sweep up Russian oil after Indian demand falls, analysts say  Reuters

Politics

2 w. ago China’s Use of Fossil Fuels Is Falling While Power Demand Is Surging

China’s Use of Fossil Fuels Is Falling While Power Demand Is Surging  Bloomberg

Politics

2 w. ago Oil falls as Chinese, US economic data raise fuel demand concerns

Oil falls as Chinese, US economic data raise fuel demand concerns  Reuters

Economics

3 w. ago How Hong Kong firms are tapping the rising global demand for halal food products

Hong Kong food producers are capitalising on the growing demand for halal cuisine, with some firms developing certified pre-packed products for tourists in the city and Chinese restaurants in the Middle East. Some industry insiders told the Post recently that the current number of halal-certified restaurants was still falling short of meeting local demand. “We have seen a rapid growth in halal certification applications in recent years,” Leo Yuen Chung-on, the founding chairman of the Hong Kong...

Politics

3 w. ago China July PPI falls 3.6%, CPI flat: Weak demand, housing slump keep deflation fears alive

China July PPI falls 3.6%, CPI flat: Weak demand, housing slump keep deflation fears alive  investingLive

Politics