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Listed Chinese Internet Companies See Revenues Surge in Q2

Listed Chinese Internet companies reported surging revenues in the second quarter, raising hopes for a renewal of global investors' confidence in China-concept stocks, according to a latest report by a consulting agency. A total of 37 major listed Chinese Internet companies saw ...

ICBC Makes Foray into India

Chinese leading bank Industrial and Commercial Bank of China (ICBC) Thursday announced the formal operation of its first branch in India, as one of its latest move to realize internationalization. This also marks the first branch from Chinese mainland's banking sector in India ...

CNPC Lands Afghan Oil Contract

The China National Petroleum Corporation (CNPC) has won a contract to drill for oil in three blocks of the Amu Darya basin in north-west Afghanistan, The Independent reports. The Kashkari, Bazarkhami and Zamarudsay blocks contain an estimated 80m barrels of oil, the report says. ...

Baosteel's Major Products Set to be More Costly

Baoshan Iron and Steel Co, China's largest listed steel maker, will raise prices for its major products for October delivery to meet expected strong demand. The steel maker will increase prices for its hot-rolled products by 60 yuan (US$9.40) a ton and raise those for cold-rolled ...

Employers Scale Back Recruitment Strategies

Recruitment in China is expected to decline over the next three months, as more than half of companies have no plan to increase headcount, according to a survey. Conducted by Manpower, the survey found only 25 percent of more than 4,000 employers interviewed would increase ...

Intel, Google Announce Partnership

Intel and Google on Tuesday announced a partnership to enable the world's largest chip maker's architecture on the search giant's products, saying that an Intel chip-based Android smartphone will hit the market in the first half of 2012. In a joint press release, the two ...

Australia's Cochlear Undertakes Massive Recall

Australia's bionic ear maker Cochlear is undertaking a global recall of the unimplanted Nucleus CI500 cochlear implant range after some stopped working, the company said on Monday. Cochlear has identified a recent increase in the number of Nucleus CI512 implant failures and ...

Suzuki to End Capital Alliance with Volkswagen

Suzuki Motor Corporation on Monday said it will seek to end a 20-month old alliance with German automaker Volkswagen AG, as the tie-up has yielded no results. Suzuki, a 1.49 percent stakeholder in Volkswagen, plans to sell its holdings and dissolve the partnership providing ...

Lenovo Aims to Become World's Second-largest PC Provider

Lenovo Group, China's largest PC maker, said it aims to become the world's second-largest PC provider by the end of this year, China Daily reported Friday. The PC maker will take aggressive action to expand in the international PC market left by its competitors because of ...

Google Acquires Zagat in Push for Local Reviews

Google on Thursday announced that it has acquired Zagat, a rating service which is expected to become a cornerstone of the search giant's local offering. Zagat will give Google "a world-class team that has more experience in consumer-based surveys, recommendations and reviews ...

Foreign Brands Accused of Cheating

The global retail giant Wal-Mart said on Wednesday that consumers who bought ordinary pork sold as higher-quality pork will get double their money back. "Wal-Mart's unalterable responsibility is to safeguard consumers' interests. The relevant people in this case will be seriously ...

Court Rejects Saab's Application for Reorganization

A Swedish court Thursday rejected crisis-hit automaker Saab's application for reorganization, according to local media report. "The law's demand is not met and therefore it cannot approve the application," the Vanersborg's District Court said in a statement. However, Saab can ...

BP Discovers New Oil in Gulf of Mexico

British oil giant BP announced Wednesday it had a major oil discovery in the Gulf of Mexico. An appraisal well the company drilled in a previously untested northern segment of the Mad Dog field in the Gulf of Mexico found "a significant resource extension" for the Mad Dog Field ...

Groupon Reconsidering IPO Time Due to Market Volatility

Market hearsay on Tuesday went that Groupon Inc., a Chicago-based daily deal website, has canceled the road shows for its initial public offering (IPO) scheduled to be made next week and is reassessing the timing of IPO due to drastic volatility on the stock market. An informed ...

PX & polyester yarn trends stable, MEG shoots up

Paraxylene (PX) price remained stable in Asian markets at around US$ 1695/ton. In S E Asian region, price was quoted in between US$ 1690/ton to US$ 1700/ton. In the F E Asian market, price hovered in the range of US$ 1685/ton to US$ 1695/ton. In Chinese market, price went up to ...

Rare Earth Mines in East China to Halt Output

Eastern Ganzhou city has ordered three rare earth mines to halt production by year-end, according to local mining authorities. The city issued a notice telling three of its eight major rare earth producing counties to halt production by the end of this year, said Li Guoqing, ...

China Vanke Sales Fall 12.6 Pct in August

China Vanke Co., the country's largest property developer by market value, said Monday that its sales for August fell 12.6 percent from a year earlier. Sales stood at 10.48 billion yuan (1.64 billion U.S. dollars) in August, the company said in a statement to the Shenzhen Stock ...

China Unveils 2011 List of Top 500 Companies

A list of this year's top 500 Chinese enterprises was unveiled in the city of Chengdu in southwest China's Sichuan Province on Saturday. The Sinopec Group was ranked first, with last year's revenues reaching 1.97 trillion yuan (307.81 billion U.S. dollars), followed by the China ...

China's Contracts 'Safe' in Libya

Libya's National Transitional Council (NTC) said it will respect business contracts and agreements signed with China before the war, said Deputy Foreign Minister Zhai Jun. Saying China has great ability and potential to help rebuild the country, especially its infrastructure, ...

Sinohydro bidding for Ecuador power deal

Project is part of South American country's clean technology drive BEIJING - Sinohydro Corp Ltd is bidding for a $200 million hydropower station in Ecuador, participating in the South American country's drive to develop clean technologies, said Ding Zhengguo, assistant president ...
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Minivans rev up sales for GM
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