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Brewers toast world cup as beer sales soar in H1

Six-month volumes at one venue exceeded last year's annual total BEIJING - Last Friday was a red-letter for Stefan Frank thanks to record sales in his beer garden. Young people holding a toast at a seaside bar near Beijing. According to World Business Report, beer sales soar in ...

Charles River terminates WuXi PharmaTech buy

Technicians work in the high throughput purification laboratory at the WuXi PharmaTech facility in Wuxi, Jiangsu province. [Ariana Lindquist/Bloomberg] Shareholder objection scuppered deal, says American company BEIJING - American medical research equipment and services company ...

Li Ka-shing buys EDF arm for $9.1b

Li Ka-shing, chairman of Cheung Kong (Holdings) Ltd and Hutchison Whampoa Ltd, speaks at a news conference in Hong Kong. Jerome Favre/Bloomberg News French firm to sell British electricity network business to HK group HONG KONG - A group led by Hong Kong billionaire Li Ka-shing's ...

Debt row rumbles on at Jianwai SOHO

Residents in Jianwai SOHO in Beijing have finally won an almost two-year fight with a property management company, but still must deal with debts accrued by the company during that time. A new property management company started working at Jianwai SOHO at 9 am on Wednesday. Some ...

Carriers' profits set to soar

China Southern Airlines Co passenger planes parked at Beijing Capital International Airport. [Adam Dean / Bloomberg] Rising demand means firms will be riding high in the second half SHANGHAI - Soaring demand and fewer discounts have secured the profits of the nation's major ...

CIC reaps gains from rosy overseas investments

Lou Jiwei, chairman of CIC. [Jerome Favre / Bloomberg] BEIJING - China Investment Corporation (CIC), the nation's sovereign wealth fund, said on Thursday it posted a solid return of 11.7 percent on its global investment portfolio in 2009, thanks to major global moves made last ...

Chinalco inks African JV with Rio

Xiong Weiping (right), chairman of Aluminum Corp of China Ltd (Chalco), and Jan Du Plessis, chairman of Rio Tinto Plc, shake hands at a signing ceremony at the Great Hall of the People in Beijing on Thursday. [Gilles Sabrie / Rio Via Bloomberg] Agreement covers development of ...

SMEs need to have more than courage

A worker processes cotton yarn at a textile factory in Jiangsu province. [Xu Ruipin / For China Daily] Despite limited help from the government, the largest employer across China faces an uphill battle BEIJING - US-trained chemist Wang Xiaochuan's Sundia MediTech Company Ltd - a ...

7% of SME assets spent on 'relationships'

An entrepreneur (left) applies for a micro loan in Hefei, Anhui province. [Ge Chuanhong / For China Daily] Small- and medium-sized enterprises (SMEs) in China spent almost 7 percent of total assets on entertaining their key business contacts to develop "social capital". Findings ...

Danone sells stake in China's Huiyuan

PARIS - French food producer Danone sold its stake in China's Huiyuan Juice Group to a Chinese private equity fund for 200 million euros ($260 million) to bolster its most profitable business in the Chinese market, the company said Wednesday. Danone offered its 22.98 percent ...

Zijin to cut output; earnings impact mild

Employees of Shanghang Waterworks test water quality. [Jiang Kehong / For China Daily] BEIJING - Zijin Mining Group, China's biggest gold producer, will reduce production after being instructed to do so by the local government in Fujian, where the company is based. The decision ...

Aviation industry merger in works

An Air China Ltd plane takes off while another is parked at Beijing Capital International Airport earlier this year. Air China, the nation's largest international carrier, will boost capital expenditure by more than 50 percent in 2010 from a year earlier as it takes delivery of ...

Energy firm makes its mark in China, abroad

NEW YORK - Now that it has successfully secured a listing on the Nasdaq global market, CEO Li Gang and NF Energy Saving Corp wants US investors to get into the flow of aiding China's future in energy conservation. Founded in 2006, the company is a supplier of flow control ...

Regulator pledges to improve supervision on listed companies

The Shenzhen Securities Regulatory Bureau will implement a series of measures next year to regulate the city's listed companies, Securities Daily reported Monday, citing Zhang Yundong, head of the bureau. According to the report, total assets of Shenzhen's listed companies have ...

Sino-US book gap more than just language

NEW YORK - Western publishing companies continue to face problems in penetrating China's vast book market as well as getting Chinese books into the United States, industry insiders say. Publishing companies report vast differences between Western and Chinese methods of marketing ...

Gold miners to go global

Strong demand for gold products such as these jewelry is encouraging mining companies to expand their operations overseas. [Photo / China Daily] TIANJIN - China's major gold mining companies are planning to ramp up efforts to expand overseas as gold demand rises in China and ...

Xinmao says has funding for Draka deal

Chinese group Xinmao said it had financing for its proposed 1 billion euro ($1.3 billion) offer for Draka, keeping alive prospects of a bid battle for the Dutch cablemaker. Xinmao said on Monday Minsheng Banking Corp, China's No 7 listed lender, had confirmed its commitment to ...

COFCO to return GM corn imported from US

China's COFCO Ltd will return 5.4 tons of genetically modified (GM) corn imported from the United States after forbidden GM ingredients were spotted, the Natioanal Business Daily reported Tuesday citing an official. "The return of the shipload of corn is in process now, the GM ...

China Unicom announces tighter iPhones regulations

Apple's iPhone4 went on sale in the mainland on Sept 25 at China Unicom and Suning Appliance Co stores. Four Apple stores in Beijing and Shanghai also started selling the product at the same time. [Photo / China Daily] China Unicom goes after scalpers, makes it harder to change ...

Alltech aims to triple animal nutrition sales in China in two years

BEIJING - Alltech, one of the world's largest animal nutrition companies, said it will quicken the pace of its investments in the Chinese market and hopes to triple its sales in China within two years. The company recently opened a new facility in Tianjin. After a $12 million ...
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