Philips, Alibaba sign deal for services in China
Philips (China) Investment Co Ltd and Alibaba GroupHolding Ltd signed an agreement that will see Alibaba provide Philips with a cloud computing service while it provides smart products to customers in China. The two companies also intend to cooperate on big data exchanges and analysis, so they can be better informed of useful data; including product needs, purchasing behaviors, user feedback, and development trends. of Chinese warehouse firm Shanghai e-ShangWarehousing Services Co Ltd and set up a joint venture to expand in China, the companies said on Thursday. E-shang, backed by private equity firmWarburg Pincus, and APG aim to tap strong demand for warehouses as Chinese e-commerce booms. The joint venture plans to develop and run modern logistics real estate assets across China. Resources Australia, a subsidiary of the Chinese parent’s overseas development arm, and Australian rail freight operator AurizonHoldings Ltd have made a conditional offer of A$3.40 per share in cash for the iron ore and coal firm.
percent in the last five trading days.