Cloud Hosting

SHANGHAI IBM and a unit of China's Dalian Wanda Group, a property and entertainment conglomerate, agreed on Sunday to team up to provide cloud services to Chinese companies, the U.S. technology provider said.

Through a newly formed venture, Wanda Cloud Company, they will offer select IBM cloud infrastructure and platform as a service (IaaS and PaaS) technologies in China, IBM said.

The venture between IBM and Wanda Internet Technology Group will be "responsible for distributing, building and operating the IBM cloud platform in China", an IBM spokeswoman said.

In November, Alibaba Holdings Ltd's cloud unit announced plans to open four new data facilities outside China in a bid to grab market share from leading players Amazon.com and Microsoft.

Research firm Canalys expects the global market for cloud computing, defined as the storage of data on remote networks rather than local servers, to reach $135 billion by 2020.

(Reporting by Alexandra Harney; editing by Jason Neely)

JERUSALEM/BEIJING China's economy may be 35 times larger than Israel's, but Prime Minister Benjamin Netanyahu is hoping to use that to advantage during a three-day visit to Beijing as he looks to reorient Israel's economy toward Asia over Europe and the United States.

MUMBAI Britain's Vodafone Group and Idea Cellular agreed on Monday to merge their Indian operations in a $23 billion deal, creating the country's biggest telecoms business after the entry of a new rival sparked a brutal price war.

TAIPEI Taiwan's TSMC, the world's largest contract chipmaker and a major Apple Inc supplier, on Monday said it would take a decision next year on whether to build a U.S. chip plant.

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IBM and Wanda form China cloud computing partnership - Reuters