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China 'ripe' for new BlackBerries

Canadian smartphone maker Research In Motion (RIM) said yesterday it would launch a customized version of the BlackBerry that supports China's home-grown 3G standard, as part of its latest efforts to expand in the world's largest mobile phone population. The world's second ...

Siemens inks green deals worth 2b yuan

Siemens AG, Europe's largest engineering company, yesterday said it signed orders worth 2 billion yuan and other agreements with Chinese partners this week, most of which are for environmentally friendly products and solutions. The orders cover a wide range of the company's ...

Baosteel set to lead iron ore parleys

An iron ore dock in Rizhao, Shandong province. Baosteel Group is replacing CISA as the chief negotiator for the Chinese side in its talks with the big three iron ore suppliers. [China Daily] Action seems to be hotting up on the iron ore price negotiation front with steelmaker ...

Carpenter Tan plans HK public float

Chinese comb maker Carpenter Tan is planning an initial public offering of its shares on the Hong Kong bourse, said a senior company official. "Carpenter Tan has got approval to offer shares on the Growth Enterprise Market of the Hong Kong Stock Exchange," Zhou Pei, spokesperson ...

High-end liquor becoming costlier

A salesman in a Beijing-based liquor shop is putting bottles of Moutai on a shelf. China's urbanization is helping the consumption of liquor, especially the high-end variety, to grow fast. [China Daily] China's leading liquor maker Kweichou Moutai said yesterday it will raise its ...

P&G connecting with Chinese consumers

American consumer product giant Procter & Gamble Co (P&G) is hoping to get into the psyche of Chinese people as the sponsor of the United States pavilion looks to next year's Shanghai Expo to increase its consumer base in China. The Fortune 500 company's external relations ...

Bank's green champions

Employees at this HSBC branch in Shanghai and other locations are participating in the HSBC Climate Partnership program. [Asianewsphoto] They are financial wizards who usually spend their days in big city offices communicating with clients, but some are now communicating with ...

CIC likely to invest in Rusal public float

An aluminium billet is moved from the electrolysis bath at a Rusal plant in Sayanogorsk, Russia. The company plans to raise $2 billion to $3 billion through its share sale. [Agencies] China Investment Corporation (CIC) may invest up to $300 million in the proposed Hong Kong float ...

Yuanda sees little impact, but gains from Dubai debt crisis

Workers cleaning a curtain wall on a building in Beijing. Yuanda's business is growing rapidly, with the 2008 contract value of its business topping 2 billion yuan. [File photo] Wang Weiyuan was napping in the departure area of Beijing International Airport terminal 3 recently, ...

Budget hotels set for big expansion

Exercising a public flotation in the United States is the latest trend in China's budget hotel industry. Spurred up by the domestic consumption stimulus program launched by the Chinese government and a commitment to boost the tourism industry, China's budget hotel operators have ...

L'Oreal finances young entrepreneurs

Winning teams receive their L'Oreal Fund for Students Employment and Entrepreneurship award. The French cosmetics company set up a specific fund to encourage Chinese university students to start up their own businesses. [File photo] In 24-year-old Zhang Xuhao's mind, if there is ...

Wuhan Iron & Steel to increase output by 24% next year

A Wugang workshop in Hubei province. The company expects to produce 37.9 million tons of crude steel next year, up from a forecast of 30.5 million tons this year. [China Daily] Wuhan Iron & Steel Group (Wugang) plans to boost production by 24 percent next year as demand recovers ...

Minmetals to hike HNG holdings

The China Minmetals Group headquarters in Beijing. The metals trader said its revenue grew 15.9 percent to 180 billion yuan last year. [Agencies] China Minmetals Corporation appears to be edging closer to gaining control of Hunan Nonferrous Metals Holding Group (HNG) after the ...

Ford close to selling Volvo unit to China's Geely

A model poses near a Volvo vehicle at an auto show in Shanghai on April 24, 2007 [Asianewsphoto] Ford is close to selling its Volvo unit to China's Geely Group and expects a final deal early next year, the US auto giant said in a statement. "Ford Motor Company confirmed today ...

BAIC stepping up R&D investment

Light commercial vehicle maker Beijing Automotive Industry Holding Corp (BAIC) yesterday said it would invest 33 billion yuan ($4.8 billion) over the next three years for vehicle research and development (R&D) and also hinted that it may launch an initial public offering soon. An ...

Four nuke plants to start by 2014

A Velan Inc RCP 1212 connecting valve at a worker's training room in Daya Bay, near Shenzhen. Nuclear power in China has undergone accelerated development in line with the country's goal of using cleaner energy sources.[Agencies] China Guangdong Nuclear Power Group (CGNPG), one ...

Train maker CNR raises 13.9b yuan from float

Railroad spending in China has grown to 464.6 billion yuan in the first 11 months of this year. [Agencies] Train maker China CNR Corp raised 13.9 billion yuan ($2 billion) selling shares on the Shanghai Stock Exchange, completing the country's status as the world's biggest market ...

Pacific Insurance soars on debut

Gao Guofu (C), chairman of China Pacific Insurance (Group) Co, talks to reporters at the company's listing ceremony in Hong Kong yesterday. [Agencies] China Pacific Insurance (Group) Co, the nation's third-largest insurer, rose in its Hong Kong trading debut, the best first-day ...

ICBC wants some forex pie for banks

Jiang Jianqing China should divert part of its burgeoning foreign exchange reserves to commercial banks so that they have more financing power to support the overseas expansion plans of domestic firms, Jiang Jianqing, chairman of Industrial and Commercial Bank of China (ICBC), ...

Sinochem submits new offer for Nufarm

An employee handles Nufarm chemical products at a warehouse in Melbourne. Shares of Nufarm were traded below the revised offer in Sydney yesterday. [Agencies] Sinochem Corp, China's largest chemical trader, lowered its offer by 7.7 percent to A$2.6 billion ($2.3 billion) for ...
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