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Diageo may take sip of Swellfun

A bottle of Swellfun liquor is displayed in a department store. Swellfun is a Chinese premium liquor producer with a profit ratio of around 40 percent. [China Daily] Diageo, the world's leading premium drink provider, may soon purchase Sichuan Swellfun Co Ltd, a premium Chinese ...

China Southern gets govt cash boost

An airport ground staff member stands in front of a China Southern airplane at Taiwan Taoyuan international airport. The cash injection will help China Southern to lower its debt-to-equity ratio.[Agencies] SHANGHAI: Shares in China Southern Airlines were suspended yesterday on ...

PCCW shares fall in HK on police probe reports

HONG KONG: PCCW Ltd shares fell in Hong Kong trading after people familiar with the matter said police began probing Chairman Richard Li's failed bid last year to buy out the city's biggest phone company. PCCW declined 1.9 percent to HK$2.09 in early trade yesterday, the worst ...

Profit slowdown hits Parkson

Shoppers enter a Parkson store in Beijing. The retailer said net income rose 8.3 percent to 911 million yuan last year. [Agencies] Department store chain's shares fall on disappointing earnings HONG KONG: Parkson Retail Group Ltd fell in Hong Kong trading, reversing earlier gains...

BoCom set to raise funds via rights issue

The Bank of Communications headquarters in Shanghai. The lender is likely to raise up to 30 billion yuan through a rights offering in Hong Kong and Shanghai to replenish its capital base. The Ministry of Finance is the largest shareholder in the Shanghai-based lender. [China ...

Latin-Caribbean alliance presents opening for China

As Latin American and Caribbean leaders meet in Mexico to discuss the creation of a new regional alliance that excludes the United States and Canada, there is an opportunity for China to seek more cooperation in the region, experts said. The Group of Rio meeting that runs from ...

Market restrictions to end in 15 yrs: expert

Bourses expected to be fully open to foreign investors by 2025 China's stock markets are likely to be fully open to foreign investors within 15 years, according to a leading investment expert. Direct foreign dealing in Chinese stocks is currently restricted through the government...

'Golden week' priceless for stores

Sales rocketed by 15 percent during the seven-day Spring Festival holiday in the capital compared to last year, according to the Beijing Municipal Commission of Commerce (BJMCC). Accountant Liu Xinhua at a Suning store in Liujiayao area has lunch during a short rest yesterday. ...

Several online retailers suspend delivery services

New Year purchases on Taobao are expected to rise from 280 million yuan in 2009 to 1 billion yuan this year. [China Daily] Ahead of the Spring Festival, some Chinese e-shopping enthusiasts are in a panic over the suspension of delivery services due to the national holiday. Zhang ...

Airlines slash prices as high-speed trains prove popular

China Southern cut economy-class tickets to 560 yuan from 700 yuan on flights between Guangzhou and Changsha, after a high-speed train started service in December. [CFP] China Southern Airlines Co, the nation's largest carrier, and Air China Ltd are slashing prices to compete ...

Dairy consolidation moves gather pace

A worker milks a cow at a dairy farm in Huai'an city, Jiangsu province. New Hope Dairy has acquired a total of 12 small- and medium-sized dairies across the country in recent years. [China Daily] New Hope acquires remaining 41 percent stake in Anhui Purity SHANGHAI: New Hope ...

Selling Google, buying Baidu helps fund beat competitors

Scottish money managers' moves reflect shift in economic power EDINBURGH: When Google Inc, owner of the most popular Internet search engine, said on Jan 12 it may close its website in China, Edinburgh money manager James Anderson sold the stock and bought Beijing-based rival ...

Minsheng says small is beautiful

Dong Wenbiao, chairman of China Minsheng Banking Corp BEIJING - Private lender China Minsheng Banking Corp has decided to shift its lending focus to small enterprises, and no longer considers large enterprises as the main cash cow, Dong Wenbiao, chairman of the bank said on ...

'Monster' job site heavyweight help to ChinaHR

Beijing: In 2008 the US-based online job company Monster Worldwide Inc made headline news when it acquired all of ChinaHR.com, paying $174 million for a remaining 55 percent stake in the Chinese recruitment site. The acquisition enhanced the strength of the local website and ...

Shougang Steel profit down 10%

Beijing Shougang Steel Group realized a profit of 368 million yuan ($53 million) in 2009, down 10.44 percent year-on-year. Its earnings per share was 0.12 yuan, the company said in its annual report released Thursday, the National Business Daily reported. Its 2009 revenue was 22...

Ericsson charts course to keep competition at bay

Company faces battle for domestic market share with Huawei, ZTE BEIJING: Over the last few years, Ericsson has been under increasing pressure to defend its position as the world's largest provider of technology and services to telecom operators. This comes as competition from ...

China's Lenovo takes aim at mobile Internet market

BEIJING: China's Lenovo, the world's No 4 personal computer maker, said it will develop more products this year for the mobile Internet, attempting to gain ground after a late start into the hot smartphone market. Lenovo entered the mobile phone sector last year when it ...

Nasdaq parent wants more Chinese floats

BEIJING: Nasdaq OMX Group Inc, the parent of the Nasdaq Stock Market, expects more initial public offerings (IPO) by Chinese companies this year after the US IPO market rebounds in the second quarter, a senior executive told China Daily on Wednesday. "Although the market has been ...

Bright plans sweet offer to Aussie CSR

Shanghai company expects to sew up Australian takeover deal this year BEIJING: Bright Food Group, the food conglomerate owned by the Shanghai municipal government, will sweeten its offer to buy Australian sugar giant CSR and hopes to complete the deal at least by the end of the ...

Daimler, BYD in China electric car partnership

BERLIN: Daimler AG says it has signed a memorandum of understanding with China's BYD Co, the Chinese carmaker backed by billionaire Warren Buffett, to develop jointly electric vehicles for the fast-growing Chinese market. BYD Motors Inc General Manager Fred Ni talks about the BYD ...
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China slams Japan's NHK governor's denial of Nanjing massacre
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China's farm product pricing plan shifts to market orientation
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Minivans rev up sales for GM
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Court rejects Apple lawsuit over iPad name
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