History
Xinhua Financial Network, Ltd. (XFN) was incorporated in Hong Kong in November 1999. In late 2000, XFN established joint venture with FTSE Group, forming the Xinhua FTSE Index.
In 2003, it formed an international alliance with Agence France-Presse (AFP) Finance. Xinhua Financial Network Ltd. purchased the news agencies of AFP Asian Finance in Hong Kong, Japan, South Korea, and Singapore and eight other Asian countries and regions, which expanded the coverage of Xinhua News Agency's international network.
In July 2006, Mergent, a subsidiary of Xinhua Finance, purchased the business of Praedea Solutions, Inc., a developer of enterprise software for automated data extraction.
In June 2007, XFN announced it had agreed to sell seven of its Asia-Pacific news bureaus in Tokyo, Manila, Jakarta, Kuala Lumpur, Singapore, Sydney and Seoul to Thomson Financial, part of Canadian publisher Thomson Corp., in order to focus on the greater China region. XFN stated they would retain their operations in Beijing, Shanghai, Hong Kong and Taipei, while news operations of Xinhua Finance's other subsidiaries, including Market News International and Stone & McCarthy Research Associates would also not change. Financial terms were not disclosed.
Read more about this topic: Xinhua Finance
Famous quotes containing the word history:
“The history of all hitherto existing society is the history of class struggles.”
—Karl Marx (1818–1883)
“The History of the world is not the theatre of happiness. Periods of happiness are blank pages in it, for they are periods of harmony—periods when the antithesis is in abeyance.”
—Georg Wilhelm Friedrich Hegel (1770–1831)
“When the history of guilt is written, parents who refuse their children money will be right up there in the Top Ten.”
—Erma Brombeck (20th century)