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HK stocks end lower on slow U.S. manufacturing growth

Hong Kong stocks ended lower on Tuesday, after a report showing the slowest U.S. manufacturing growth in two years. Hong Kong stocks lost 241.91 points, or 1.07 percent, to close at 22,421.46. The benchmark Hang Seng Index traded between 22,387.92 and 22,623.22. Turnover totaled ...

Facebook Buys Digital Publishing Startup

Social networking giant Facebook on Tuesday announced that it has bought Push Pop Press, a digital publishing company that develops the technology to help make interactive books optimized for iPad and other Apple devices. "We're thrilled to confirm that we've acquired Push Pop ...

Investor Sells 638m ICBC H-shares at 5.84 HK Dollars Apiece

An investor of Industrial and Commercial Bank of China, the world's largest bank by market value, is selling 638.06 million ICBC H-shares at 5.84 HK dollars (75 U.S. cents) per share, Xinhua learnt Tuesday. The transaction, which is being arranged by Goldman Sachs International, ...

Google Buys Daily Deals Aggregator The Dealmap

Google on Monday announced that it has acquired daily deals startup The Dealmap, which is expected to bolster competition in the daily deals market. Terms of the transaction were not disclosed. Google said in a statement that it is impressed with what The Dealmap team has ...

Twitter Closes "Significant" New Funding

Micro-blogging service Twitter on Monday announced that it has received a "significant" new round of funding, confirming weeks of speculations. "Now we have an opportunity to expand Twitter's reach with a significant round of funding led by the venture firm DST Global, with the ...

Ablibaba, Yahoo, Softbank Reach Agreement

The Alibaba Group said late Friday that the company and its major shareholders Yahoo! Inc. and Japan's Softbank Corp. have come to an agreement to settle a dispute over the status of Alibaba's popular online payment platform Alipay. The dispute arose in May when Alipay was ...

Michelin Posts 12.6-Pct Increase in H1 Sales

France-based Michelin, the world leading tyre manufacturer, announced Friday a 12.6-percent increase in sales volume during the first half of 2011. The result is in line with the group's target and it is now expecting an "ongoing market growth" for the second half. Thanks to the ...

Chinese, Mongolian Companies Sign Coal Deal Worth 250 Mln USD

A Mongolian and a Chinese mining company have signed a coal deal worth 250 million U.S. dollars, local media reported Friday. Under the deal, the Aluminum Corp. of China Ltd. (Chalco) will purchase coking coal worth 250 million dollars as an advance payment from Mongolian state...

CNPC's H1 foreign oil and gas output up 30,000 tons

Overseas oil and gas production in the first six months by China National Petroleum Corp (CNPC) increased 30,000 tons or 219,000 barrels per day (bpd) from a year earlier, the top Chinese oil producer said in a company newspaper on Thursday. The parent of PetroChina did not say ...

Sony Posts 191 Mln Dollars Quarterly Loss

Sony said on Thursday it posted a net loss of 15.5 billion yen (191 million U.S. dollars) in the period from April to June following the March 11 quake and tsunami. The Japanese electronics giant said in its financial results that sales had been affected by the March 11 ...

HK utility buys 17% stake in mainland nuke plant

Hong Kong utility CLP Holdings Ltd said Monday it has bought a 17 percent stake in a nuclear power plant in southern China for 4.8 billion yuan ($745 million). CLP said its nuclear investment unit signed a deal with China Guangdong Nuclear Power Company Ltd to buy the stake in ...

EU Oks Lenovo's Acquisition Proposal of Medion

The European Commission Tuesday gave green light to the proposed acquisition of German electronic equipment supplier Medion by Chinese computer producer Lenovo. "The Commission's assessment revealed that Lenovo and Medion combined market shares are generally moderate and that a ...

Nissan, Dongfeng's Venture to Invest 50 bln Yuan for Sales Expansion

Dongfeng Motor Co., a joint venture between Nissan Motor Co. and Dongfeng Motor Group Co., announced Tuesday that it will invest 50 billion yuan (7.76 billion U.S. dollars) over five years to 2015 to expand its production and sales. The company aims to lift its sales to 2.3 ...

Da Vinci Admits Some Products Mislabeled

The scandal-hit furniture dealer Da Vinci told its Chinese customers it was "sorry" and admitted failing to properly label the country of origin of some products and adequately train the sales staff, who sometimes misled customers, in a statement released on Friday. Da Vinci said ...

China CNR Signs Subway Contract with MTR

China CNR Corporation Limited said its subsidiary had signed a deal worth 1.401 billion HK dollars (180 million U.S. dollars) to sell subway trains to Hong Kong's MTR Corporation. Changchun Railway Vehicles Co., Ltd. under the China CNR, a major Chinese manufacturer of locomotive...

Nokia Loses Chinese Market

Nokia Oyj isn't just losing mobile- phone market share to iPhone maker Apple Inc, but also loosing its dominance in China as prices sink, Bloomberg reported. Nokia's second-quarter handset shipments in China fell to 11.3 million, less than half the first quarter's number and 41 ...

China's Simcere, Merck to Form JV

China's Simcere Pharmaceutical Group inked a deal with Merck & Co. Thursday to form a joint venture, aiming at serving China's rapidly expanding health care needs. The strategic partnership will merge extensive resources and expertise of a global health care company and a leading ...

Microsoft Quarterly Earnings Beat Estimates

Microsoft Corp. on Thursday posted strong quarterly earnings in its fourth fiscal quarter, with profit and revenue beating expectations from Wall Street analysts. For the quarter ending June 30, the world's largest software maker reported a net income of 5.87 billion U.S. dollars...

Air China Receives Its First Boeing 777-300ER

Air China, the country's biggest international carrier, received its first Boeing 777-300ER Thursday afternoon, which is also the first such aircraft for the Chinese mainland. Air China will introduce 19 such aircrafts in the future, the company's vice president He Li said at the ...

CNOOC to buy Canadian oil sands developer for US$2.1 bln

China's CNOOC, the country's largest offshore oil and gas producer, announced Wednesday that it has signed an agreement to buy OPTI Canada Inc. (OPTI) for about 2.1 billion U.S. dollars. CNOOC Luxembourg S.a.r.l, a wholly-owned subsidiary of CNOOC, will make the acquisition, said ...
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