U.S. Markets closed

  • S&P 500

    4,395.26
    -23.89 (-0.54%)
     

  • Dow 30

    34,935.47
    -149.06 (-0.42%)
     

  • Nasdaq

    14,672.68
    -105.59 (-0.71%)
     

  • Russell 2000

    2,226.25
    -13.78 (-0.62%)
     

  • Crude Oil

    73.81
    +0.19 (+0.26%)
     

  • Gold

    1,816.90
    -18.90 (-1.03%)
     

  • Silver

    25.55
    -0.23 (-0.90%)
     

  • EUR/USD

    1.1872
    -0.0024 (-0.2018%)
     

  • 10-Yr Bond

    1.2390
    -0.0300 (-2.36%)
     

  • Vix

    18.24
    +0.54 (+3.05%)
     

  • GBP/USD

    1.3908
    -0.0050 (-0.3547%)
     

  • USD/JPY

    109.6500
    +0.1890 (+0.1727%)
     

  • BTC-USD

    41,490.24
    +29.73 (+0.07%)
     

  • CMC Crypto 200

    955.03
    +5.13 (+0.54%)
     

  • FTSE 100

    7,032.30
    -46.12 (-0.65%)
     

  • Nikkei 225

    27,283.59
    -498.83 (-1.80%)
     

Borqs Forms JV To Develop $110M 5G Industrial Park in Huzhou

Anusuya Lahiri
·1 min read

  • Borqs Technologies Inc (NASDAQ: BRQS), via its Huzhou, China government joint venture, receives bids from several real estate developers to build out a 1.9 million sq. ft., $110 million 5G Industrial Park in Huzhou, China.

  • The $110 million value includes the company's 1.7 million sq. ft. of land-use rights granted by the Huzhou South Taihu New Area government.

  • The development will include a research and office complex, manufacturing facilities, convention center, and hotels.

  • The Borqs JV entity with the Huzhou authorities is authorized to manage the development project. It is likely to retain 20% - 30% ownership of the facilities. The developer bidding and selection process are likely to conclude in Q3.

  • Price action: BRQS shares traded higher by 7.94% at $0.9177 in the premarket session on the last check Thursday.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Recommended Stories

  • The Crypto Daily – Movers and Shakers – August 1st, 2021

    After a relatively bearish Saturday, Bitcoin would need to revisit $42,500 levels to support the broader crypto market.

  • Got $5,000? Here Are 4 Energy Stocks to Buy and Hold for the Long Term

    The energy sector offers plenty of lucrative investment options: Here are some stocks you'd want to buy now.

  • 3 Auto Stocks to Buy as They Transition to Tech-Stock Status

    Cars and other types of motor vehicles are becoming increasingly high-tech. Containing as much software and semiconductors as nuts and bolts, vehicles these days are like giant computers. From back-up cameras and self-parking features to GPS navigation and voice commands, our cars now operate in ways that were unthinkable just a few years ago. The new innovations has sparked a new conversation about auto stocks, their merits and their future. We’re only now starting to see the potential in upcom

  • From Miners to Big Oil, the Great Commodity Cash Machine Is Back

    (Bloomberg) -- Just over five years ago Anglo American Plc was in deep trouble. The natural resources giant, beset by a collapse in commodity prices, scrapped its dividend and announced plans to close mines and cut thousands of workers. Amid talk of an emergency capital raise, its market value fell to less than $3 billion.This week, the trials of 2016 probably seemed like a parallel universe to its Chief Executive Officer Mark Cutifani. Fueled by a rally in iron ore and other commodity prices, h

  • Why Tesla Stock Rose Today on Bad News

    Tesla (NASDAQ: TSLA), the electric-vehicle (EV) kingpin, is understandably best known for its EVs. As multiple news outlets have now reported, Tesla's giant Australian battery venture -- the "Victorian Big Battery" that provides backup electricity to Victoria state in Australia -- caught fire early Friday, local time. Or rather, one of the Tesla "megapack" batteries making up the power warehouse did.

  • Oil Price Fundamental Daily Forecast – Tightening Supplies, Rising Demand Alleviating COVID Concerns

    U.S. energy firms cut the number of oil and natural gas rigs operating for the first time in eight weeks.

  • America’s Oil Demand Is Roaring Back Faster Than Expected

    (Bloomberg) -- U.S. oil consumption is rushing back much faster from the pandemic slump than first predicted as Americans are hitting the road, unleashing a burst of pent-up travel demand.Consumption is so strong that the federal Energy Information Administration on Friday pegged May’s demand for U.S. oil products at 20.094 million barrels a day, or almost 7% higher than its original estimate.The demand, which the EIA classifies as product supplied, still remains below where it was in 2019, befo

  • Rivian may build its first international EV factory in the UK

    Rivian is reportedly in talks to build an EV factory in the UK, helping it take on rivals like Tesla.

  • Pearson launches Pearson+, an online textbook subscription

    Pearson CEO Andy Bird joins Yahoo Finance to detail why Pearson broke into online textbook subscriptions.

  • Producers Caught Flat-Footed as U.S. Consumer Demand Runs Hot

    (Bloomberg) -- Producers couldn’t keep up with supercharged consumer demand in the U.S. last quarter, and it’s unclear when supply constraints will ease.Materials shortages and shipping delays led to outsized drawdowns in inventories as companies scrambled to meet one of the strongest paces of consumer spending since the 1950s and robust growth in business purchases of equipment. As a result, the government’s initial tally of second-quarter economic growth missed by a long shot.The value of inve

  • The price of gas will get ‘worse before it gets better’: Truist Securities Managing Dir.

    Neal Dingmann, Truist Securities Managing Director, joins Yahoo Finance to discuss Exxon and Chevron’s earnings amid the recovery in oil and outlook on gas prices.

  • The pandemic ‘has made people more passionate’ about their cars: Jack Roush Jr.

    Jack Roush Jr., Roush Performance Marketing VP and ‘You Don’t Know Jack’ Podcast Host, joins Yahoo Finance’s Adam Shapiro, Seana Smith, and Pras Subramanian to discuss supply chain issues in the automotive industry, the business of performance auto parts, and the development in electric vehicles.

  • Oil prices finish higher to score a 4th-straight monthly gain

    Oil futures settled higher on Friday, shaking off earlier declines as tight U.S. crude supplies helped lift prices up for a fourth month in a row. Last week’s decline in U.S. crude inventories, meanwhile, is also supportive for oil prices as it encourages the demand outlook, he said. U.S. benchmark West Texas Intermediate crude for September delivery (CL00) (CLU21) rose 33 cents, or nearly 0.5%, to settle at $73.95 a barrel on the New York Mercantile Exchange, the highest front-month finish since July 13, according to Dow Jones Market Data.

  • Analyst Report: AptarGroup, Inc.

    Headquartered in Charles Lake, Illinois, AptarGroup is a leading global supplier of dispensing systems such as aerosol valves, pumps, and closures to the consumer goods and pharmaceutical markets. With the bulk of its annual net sales coming from Europe (50% of sales) and the United States (33%), Aptar aims to increase its presence in Asia (10%) and Latin America (7%). Aptar's pharmaceutical division generates roughly one third of group sales but over two thirds of group profits.

  • Amazon-backed Rivian in talks with ministers over UK factory -Sky News

    The company, which is also backed by Ford Motor Co, has been in negotiations with the British government for weeks about the construction of a plant near Bristol, the report https://bit.ly/3zT7Ron added. The talks are not yet at an advanced stage but any investment decision would likely be worth well over 1 billion pounds ($1.39 billion), the report said, citing sources. The Department for Business, Energy and Industrial Strategy (BEIS) declined to comment on "individual investments".

  • Pfizer and Moderna raise prices for COVID-19 vaccines in EU- FT

    The new price for the Pfizer shot was 19.50 euros ($23.15)against 15.50 euros previously, the newspaper said, citing portions of the contracts seen. The price of a Moderna vaccine was $25.50 a dose, the contracts show, up from about 19 euros in the first procurement deal but lower than the previously agreed $28.50 because the order had grown, the report said, citing one official close to the matter. The European Commission said on Tuesday that the EU is on course to hit a target of fully vaccinating at least 70% of the adult population by the end of the summer.

  • UK ‘closing in on agreement’ with New Zealand in trade talks – Truss

    International Trade Secretary Liz Truss has faced criticism over the environmental impact of shipping food to and from the other side of the world.

  • Natural Gas Price Forecast – Natural Gas Selloff Into the Weekend

    The natural gas markets have pulled back a bit during the trading session on Friday as it looks like the $4.00 level will continue to be a bit of a magnet for price.

  • Exxon, Chevron beat earnings est. as demand for oil rebounds

    Roger Read, Wells Fargo Securities Senior Analyst for Refiners & Integrateds joined Yahoo Finance Live to break down Chevron and Exxon’s latest earnings reports and the recovery in oil and gas prices.

  • Louisiana governor "seriously considering" statewide mask mandate amid COVID-19 case surge

    Louisiana Governor John Bel Edwards, a Democrat, said at a press conference Friday that he is "seriously considering" the reinstatement of a statewide face mask mandate as his state leads the country for new COVID-19 case grown per capita and is among the least vaccinated states in the nation. Watch his remarks here.