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CNGG seeks more mines

China National Gold Group Corp (CNGG), the country's second largest gold producer, will transfer several gold mines as assets to its Canadian subsidiary Jinshan Gold Mines this year and acquire more mining assets abroad through Jinshan. Song Xin, vice-president of CNGG, told ...

China Southern jumps most in two months on share sale

China Southern Airlines Co, the nation's biggest carrier, rose the most in almost two months in Hong Kong trading after announcing plans to sell at least 10.75 billion yuan ($1.6 billion) of new shares to pare debts. Shares of the carrier rosed 7.05 percent to HK$3.19 (41 cents) ...

Strong ore demand assists Fortescue expansion

Sydney - Fortescue Metals Group Ltd, Australia's third biggest producer of iron ore, said third-quarter shipments jumped 53 percent amid increased demand from steel mills in China. Special Coverage:Refocus on Iron Ore Talks Fortescue is expanding its iron ore output and plans to ...

Citic, Credit Agricole to combine brokerage units

PARIS - Citic Securities Co, China's largest brokerage by market value, and France's Credit Agricole SA are in exclusive talks to combine their global equity brokerage units and investment-banking operations in Asia. The firms have signed a memorandum of understanding, they said ...

Dairy firm turns profit after 2008 milk scandal

HONG KONG - China Mengniu Dairy Co, the nation's biggest maker of liquid milk, returned to profit in 2009 after sales and margins recovered from a nationwide scandal involving tainted dairy products the year before. Net income was 1.1 billion yuan ($161 million) or 0.681 yuan a ...

China Southern Q1 profit surges sixfold

China Southern Airlines Co, the nation's largest carrier, boosted first-quarter profit more than sixfold after carrying more passengers and selling a stake in a maintenance venture to its parent. Net income climbed to 1.42 billion yuan ($208 million), or 0.18 yuan per share, from ...

China Coal profit rises 9.9% as economy grows

China Coal Energy Co, a unit of the nation's second-biggest producer of the fuel, said 2009 profit rose 9.9 percent as expansion in the world's fastest-growing major economy buoyed demand. Net income increased to 7.83 billion yuan ($1.1 billion), or 0.59 yuan per share, from 7.13 ...

Air China falls in Shanghai on concerns price jump overdone

Air China Ltd, the nation's largest international carrier, fell in Shanghai trading as investors locked in gains following an announcement about a business-tax exemption for overseas flights. The carrier dropped 3.7 percent to 12.90 yuan, following a 7.1 percent jump yesterday. ...

Air China sees 549m yuan tax-exemption saving

Air China Ltd, the nation's largest international carrier, said it may save 549 million yuan ($80 million) after the government announced a business-tax exemption for overseas flights and shipping services. The forecast was based on 2009 earnings, the company said in a Hong Kong ...

China Cosco posts annual loss on overcapacity, shipping rates

China Cosco Holdings Co, the world's largest operator of dry-bulk ships, slumped to an annual loss after rates for hauling commodities and containers tumbled on overcapacity and the global recession. The 7.47 billion yuan ($1.09 billion) net loss compared with a restated profit ...

Shanghai Port Q4 net jumps 48% as trade recovers

Q4 net up 48 pct at 1.03 bln yuan, reverses earnings slide SHANGHAI - Shanghai International Port (Group) Co, China's biggest port operator, posted a 48 percent surge in fourth-quarter net profit, halting an earnings slide as prospects improved for global trade. "Looking forward, ...

Rio Tinto, Vale seek flexibility

Global mining giants Rio Tinto and Vale have thrown their weight behind calls for more flexible iron ore pricing. Sam Walsh, head of London-based Rio's iron ore business, was quoted by Bloomberg News as saying that the company may settle prices of the steelmaking ingredient on a ...

China Life says 2009 net profit up 72%

BEIJING - China Life Insurance Co, China's largest insurer, posted 71.8 percent growth in net profit for 2009 on higher investment income, the company said Wednesday. The insurer's net profit hit 32.88 billion yuan ($4.81 billion) last year, the company said in its statement ...

CCB plans share sale to raise $11b

BEIJING: China Construction Bank Corp (CCB) plans to sell shares to raise about 75 billion yuan ($11 billion) of capital this year, said two people with direct knowledge of the matter. The Beijing-based bank may raise as much as 45 billion yuan in a private placement on the local ...

25 companies stingy with dividends

Twenty-five companies listed in the A-Share market have not given investors any dividends in the past three years despite their strong returns, according to research by Investor Journal. Altogether, 675 listed companies had released annual reports by March 25. The newspaper ...

Cathay Pacific faces HK$26m fine

HONG KONG: Cathay Pacific was facing a fine about HK$26 million ($3.34 million) by the Fair Trade Commission of the Republic of Korea for alleged "air cargo pricing practices", the airliner said. In a statement filed to the Hong Kong stock exchange on late Thursday, the airliner ...

China's Dynasty Wines may purchase new, old world vineyards

Dynasty Fine Wines Group Ltd, part- owned by France's second-biggest liquor company, may spend almost $150 million to boost capacity 43 percent to meet rising demand in China. The Tianjin, China-based company may buy vineyards in Australia, New Zealand, Chile or France and has 1 ...

Datang International Power invests $576m in mainland's gas project

HONG KONG - Datang International Power, the Hong Kong-listed unit of the State-owned power generator China Datang, has said it would invest 3.93 billion yuan ($576 million) to set up a joint venture for a coal-based gas project in North China's coal-rich Inner Mongolia. In a ...

Chalco to seek bank loans as equity market declines

Aluminum Corp of China Ltd, China's largest maker of the metal, will seek bank loans after an equity market decline forced it to delay share sale plans. The deadline for a planned sale of yuan-denominated shares in China would be pushed back by a year from August 23, the Beijing...

Grange seeking China debt talks for planned $1.6b iron ore project

Grange Resources Ltd, Australia's largest iron ore pellet producer, is seeking debt funding from China to help finance a A$1.8 billion ($1.6 billion) iron ore mine in western Australia. "We will be talking to financiers in China in the not too distant future to shore up the debt ...

Latest World News

china

China slams Japan's NHK governor's denial of Nanjing massacre
China slams Japan's NHK governor's denial of Nanjing massacre
BEIJING, Feb. 5 (Xinhua) -- China on Wednesday slammed the remarks of ...
Bill Gates talks nuclear
Bill Gates talks nuclear
Microsoft co-founder Bill Gates confirmed on Wednesday that he is ...
China's reform leading group holds first meeting
China's reform leading group holds first meeting
BEIJING, Jan. 22 (Xinhua) -- China's leading group for overall reform ...

world

finance

Reforms to fuel Shanghai's growth in 2014
Reforms to fuel Shanghai's growth in 2014
BEIJING, Jan. 27 (Xinhuanet) -- Shanghai's financial sector grew 13.7 ...
Economist sees world economy strengthening in 2014
Economist sees world economy strengthening in 2014
NEW YORK, Jan. 24 (Xinhua) -- Global economy is likely to gain ...
Xinhua Feature: World's political, business leaders gather in Davos for WEF
Xinhua Feature: World's political, business leaders gather in Davos for WEF
DAVOS, Switzerland, Jan. 22 (Xinhua) -- The snow-covered Swiss town of ...

company

industry

Chinese leader calls for more marine power
Chinese leader calls for more marine power
Chinese Vice Premier Zhang Gaoli Sunday called for research in polar ...
Court rejects Apple lawsuit over iPad name
Court rejects Apple lawsuit over iPad name
Shenzhen Municipal Intermediate People's Court has rejected a lawsuit ...
Super car club in commercial drive
Super car club in commercial drive
On the night of Nov 11, more than 150 super cars were driven into the ...

trade

sports

Fourteen countries expected to compete in Cuba's wrestling tourney
Fourteen countries expected to compete in Cuba's wrestling tourney
Some 14 countries and regions are expected to compete in the 45th ...
Yao's gift of sport for all
Yao's gift of sport for all
Chinese NBA player Yao Ming teaches a boy with special needs how to ...
Stars 'Big Three' fall short of title in 1st year
Stars 'Big Three' fall short of title in 1st year
Miami Heat's LeBron James (R) stands with teammates Chris Bosh (C) and ...
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