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Coal firms asked to keep coal prices from rising

BEIJING - China's top planning body has asked the country's coal firms to keep coal prices stable as the economy is facing an "arduous task" to check inflation. Coal companies were required to keep prices unchanged for coal under annual supply contracts, and those that have ...

Progress in Anshan, Benxi steel merger by the year's end

ANSHAN, Liaoning - The merger between Anshan Iron & Steel Group and Benxi Iron & Steel Group will make substantive progress by the year's end, Anshan Steel Chairman Zhang Xiaogang said on Friday. Anshan Steel announced in 2005 that it agreed to acquire Benxi Steel to form Anben ...

China solar company 'shines' on World Cup

BEIJING - China did not qualify for the World Cup, but the country is still making an appearance in South Africa. An ambitious Chinese solar company, the country's first World Cup sponsor, has placed advertising in all the stadiums in a bid to give its brand a worldwide boost...

Air China to buy 20 Boeing planes for $1.398b

HONG KONG - Air China, China's leading carrier listed in Hong Kong, said late Friday that it would pay $1.398 billion to buy 20 Boeing 737-800 planes. In a statement filed to the HK stock exchange, the carrier said the cost would be "payable by cash in installments" and it would ...

Anshan Steel to raise crude steel capacity

Anshan Steel Group targets an annual 60 million tons of crude steel capacity over the next five years, creating China's biggest steel producer, the company said on Thursday. The Liaoning-based steel company, the parent of listed Angang Steel Co, aimed to become the top five ...

SAIC to raise up to 10b yuan in share placement

SAIC Motor Corp, China's largest domestic carmaker, aims to raise as much as 10 billion yuan ($1.47 billion) in a private share placement to expand in the world's biggest auto market by developing own-brand vehicles. The partner of General Motors Co and Volkswagen AG will sell as ...

Alibaba.com to buy US e-commerce site Vendio

Top Chinese e-commerce firm Alibaba.com, plans to buy Vendio Services Inc, making its first major US acquisition to further its strategy of expanding its global footprint. The fast-growing Web operator founded by outspoken entrepreneur and former schoolteacher Jack Ma, has been ...

Wuhan Iron inks $800m coal deal with Riversdale

BEIJING - Wuhan Iron and Steel (Group) Corp (WISCO) on Thursday signed an initial non-binding agreement for $800 million with Australian miner Riversdale Mining Ltd to develop a coking coal project in Mozambique. Under the deal WISCO will acquire a 40 percent stake in the Tete ...

18 firms get nod for Net mapping

Foreign companies also seeking licenses BEIJING - Authorities have approved 18 domestic companies to provide Internet mapping services in the country, with a number of applications from foreign vendors still being considered. The domestic companies were selected out of about 30 ...

Chinese company completes first berth of Egyptian port project

CAIRO - The first berth of the second phase project of Egypt's Port Said East Container Terminal has been completed, the Chinese builder said Wednesday. The delivery of the first berth as scheduled shows the construction has been going well, said Gao Hongbin, the manager of China ...

BOCHK nails down 34 yuan settlement deals

HONG KONG - Bank of China (Hong Kong) Limited (BOCHK) nailed down 34 RMB trade settlement transactions on Tuesday, the first day of expansion of cross-border RMB trade settlement program in Chinese mainland, said BOCHK on its website late Tuesday. The sole clearing bank of RMB ...

South Australian wineries interested in China wine market

CANBERRA -- South Australia's (SA) world- renowned wineries on Wednesday said they hope to tap into China's burgeoning wine market with a trade mission and wine tastings.Twelve wineries, including Belvidere, Chalk Hill and Bethany, spanning every wine growing region in the state ...

Chinese firm to produce low-carbon subway trains for India

CHANGSHA - A Chinese manufacturer has won a deal to produce five environment-friendly subway trains for India, the company's spokesman said Tuesday.Zhuzhou Electric Locomotive Co Ltd of China South Locomotive and Rolling Stock Corporation Limited (CSR), China's main rail vehicles ...

Airbus speeds up production after one-year operation in Tianjin

TIANJIN - Airbus's assembly plant in north China's Tianjin Municipality plans to roll out 48 A320 aircraft in 2012, nearly doubling its current production capacity, said senior executives of the joint venture Wednesday."The assembly line in Tianjin is well on track, and the ...

China's CCB says Central Huijin to fully participate in rights issue

BEIJING -- China Construction Bank (CCB), one of China's four major State-owned banks, said Tuesday Central Huijin Investment Ltd has promised to fully participate in its rights issue.In a statement filed with the Shanghai Stock Exchange, CCB said it has received a commitment ...

HK Motors still confident on hybrid cars

NEW YORK - Hybrid Kinetic Motors Co (HK Motors) CEO Wang Chuantao recently refuted claims that his company was incapable of manufacturing natural gas hybrid cars and unable to raise enough funds for the project. HK Motors, a US subsidiary of the Hong Kong-listed Hybrid Kinetic ...

Dell might move plant to save labor costs

Dell might move its manufacturing plant from the eastern coastal city of Xiamen to central or western regions of China after wages increased at plants in coastal cities, the Oriental Morning Post reported Tuesday. Dell's Xiamen plant mainly supplies goods to China and northeaster...

China's CCB says parent Huijin backs rights issue

China Construction Bank, the world's second-largest lender by market value, said on Monday that its State-owned parent Central Huijin would fully participate in its rights issue. CCB's statement of Huijin's support, issued to the Shanghai Stock Exchange, comes ahead of a ...

Investor interest in wind firms slowing

TOKYO - Investors' interest in Chinese wind companies may be slowing after Xinjiang Goldwind Science & Technology Co, China's second-largest wind turbine maker, shelved a share sale in Hong Kong, analysts said on Monday. Global investment in wind power eased during the economic ...

Aquila Resources says China Development Bank to aid coal, steel projects

Aquila Resources Ltd, a partner with Vale SA in Australia, made an initial agreement with China Development Bank Corp to develop its iron ore and steelmaking coal projects. "China Development Bank will actively support Aquila both in Australia and China, in the investment in and ...
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