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Cosco share sale to fund new ships

BEIJING - China Cosco Group, the world's second largest shipping company, announced on Tuesday plans to raise as much as 3.9 billion yuan, one day after its real estate subsidiary stunned the public by buying land at a record high price in Beijing. Cosco hopes to sell 390 million ...

Google employees remain optimistic about jobs

A man walks in front of the Google China headquarters building in Beijing. Talks with China have reached an apparent impasse and Google, the world's largest search engine, is now "99.9 percent" certain to shut its Chinese search engine, the Financial Times said. JASON LEE / ...

Shippers sail through rough waters by diversifying

A bonded port in Qinzhou, South China's Guangxi Zhuang autonomous region. FENG HUAN / CHINA FOTO PRESS China's shipping companies are diversifying their businesses in a bid to get through an industry downturn triggered by contracting global trade and plunging shipping fees. China ...

Ore price hikes force mills to appeal for govt support

Iron ore contract costs may rise 65% on strong domestic demand BEIJING: Estimates that iron ore contract prices may go up have put further pressure on Chinese steel mills, forcing them to appeal to the government to solve the problem at a national level. JPMorgan on March 12 ...

HP in the dock over alleged faulty device

Chinese characters for the Hewlett-Packard logo on the steps of an HP PC franchise store in Guangdong province. HP is expected to face a series of lawsuits this year from Chinese consumers over alleged defective notebook computers. WANG ZHIDE/CHINA FOTO PRESS BEIJING - US ...

The growing business of growing old

A retired worker kills time standing near Raffles City in Shanghai and watching passers-by. Experts say growing old at home is China's answer to its ageing problem, but professional home services need to improve substantially. Zhao Jing/China Foto Press BEIJING - Seventy-eight...

Geely could find Volvo a tough nut to crack

BEIJING: When Li Shufu, chairman of Zhejiang Geely Group Holding Co Ltd, celebrated the company's agreement taking over Swedish luxury brand Volvo on Tuesday, nobody could foresee the challenges and risks ahead for the Chinese automaker. Geely chairman Li Shufu answers questions ...

Geely eyes China market to revive Volvo brand

SHANGHAI/HONG KONG - Li Shufu, the plain-spoken chairman of China's Zhejiang Geely Holding Group, faces a long, uphill journey to return Ford Motor's prestigious but loss-making Volvo brand to profitability. A file photo of Li Shufu. [qianlong.com] But he also has an equally big ...

Chalco sees rosy 2010 after rough year

A worker loads imported aluminum at Qingdao Port, Shandong province. Chalco projects global aluminum prices will fluctuate between $2,000 and $2,400 per ton for 2010, and between 15,500 yuan and 18,000 yuan per ton in the Chinese market. [China Daily] SHANGHAI -- Aluminum Corp of ...

CCTV peddling World Cup advertising slots

A man looks at a 2010 FIFA World Cup authorized football in a sports shop in Beijing. The global sporting event creates branding opportunities for various businesses. [Provided to China Daily] BEIJING -- China Central Television (CCTV), the exclusive broadcaster of the 2010 FIFA ...

Chalco posts surprise Q4 loss on higher costs

Aluminum Corp of China flag and the Chinese national flag flutter outside its headquarters in Beijing March 26, 2010. Aluminum Corp of China Ltd, the world's biggest aluminium company by market value, reported an unexpected quarterly loss as higher costs more than offset ...

IBM committed to 'smarter city' plan in China

Leaders of IBM deliver speeches in IBM's China Strategy Release Conference in Beijing on March 25. IBM held its Forum 2010 and China Strategy Release Conference in Beijing on Thursday in a bid to introduce its "smarter city" strategy and discuss the opportunities and challenges ...

AsiaAlum Group inks 6.5b yuan loan deal to boost production

Amount is biggest ever extended by a Chinese bank to private-sector company GUANGZHOU - AsiaAlum Group, one of the world's leading premier aluminum processing companies, on Friday signed an agreement with a bank consortium led by China Construction Bank's Zhaoqing branch for a 6...

Cathay Pacific plans expansion in the mainland

Tony Tyler, chief executive of Cathay Pacific Airways denies the company will suffer from expansion of high-speed rail. [Provided to China Daily] HONG KONG - Hong Kong-based carrier Cathay Pacific Airways plans to expand its service across China by increasing the frequency of its ...

Chengdu hosts high-tech meet

The global elite of the chemical-based advanced materials industry will meet in Chengdu, capital of Sichuan province, from May 6 to 8, for the third International Advanced Materials Summit (IAMS). The summit will be co-hosted by Chengdu city government, China National Chemical ...

European carrier launches non-stops to Hangzhou

BEIJING: Air France-KLM Group, Europe's largest airline, will start flying nonstop between Amsterdam and Hangzhou from May 8, making it the first European carrier to launch a new route to China after the global economic crisis struck a devastating blow to the industry since late ...

China CNR expands urban train business

A signing ceremony between China CNR Corporation Limited and Shanghai Electric Group in Beijing last month. [Provided to China Daily] China CNR Corporation Limited (CNR), a leading provider of locomotive and rolling stocks, hopes to develop its urban rail business with the ...

Soft drinks sales may fizz up as economy improves

A Pepsi production line in Chongqing. China's soft-drinks output will continue to grow at more than 20 percent a year. [China Foto Press] BEIJING - China's soft-drinks output will continue to grow at more than 20 percent a year, Xinhua News Agency said, underscoring the potential ...

Agricultural Bank may float IPO in July

Agricultural Bank of China has enough strength to sustain future growth due to its strong rural focus. [China Daily] BEIJING - Agricultural Bank of China (ABC) is likely to launch its initial public offering (IPO) in June or July after its plan got the approval from the State ...

Shanghai Pudong Development Bank's net profit up 5.6% in 2009

BEIJING - Shanghai Pudong Development Bank said Tuesday its 2009 net profit rose 5.6 percent from a year ago on lending boom and increased commission fees. Net profit climbed to 13.2 billion yuan ($1.93 billion) last year, with earnings per share at 1.621 yuan in 2009, up 2.66 ...
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