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Bankrupt airline sues govt agency for questionable grounding

GUANGZHOU -- The parent company of a bankrupt Chinese private airline sued the government's aviation agency on Monday for its allegedly improper grounding of the company's planes, which the company says led to its bankruptcy in the wake of 2008 global financial crisis. A court in ...

HKEx appoints Chief Administrative Officer

HONG KONG - Hong Kong Exchanges and Clearing Limited (HKEx) announced on Monday that they has appointed Joseph Meyer as its first Chief Administrative Officer (CAO). He is expected to join the organization in late June. HKEx said they created the position to oversee its major ...

Huawei Wins Big Wireless Network Order in U.K.

The biggest phone equipment maker in China, Huawei, has now won its first major wireless network order in the U.K. The Shenzhen-based company has signed a four-year contract to upgrade a U.K. company's mobile network equipment. The deal should also enable the largest UK mobile...

BMW to Invest $1.4 bln in China

Luxury carmaker BMW now says that it will invest around 1.4 billion US dollars to expand its production capacity in China. This is almost double what BMW had initially planned to invest in its new plant in the city of Shenyang in Liaoning. Together with capacity improvements at ...

China Regulator Approves BYD's A-share Listing

It is now being reported that China's securities watchdog has approved plans by BYD for an A-share listing in the Shenzhen market. The company says that it has applied for regulatory approval to issue up to 79 million yuan-denominated shares. Credit Suisse estimates BYD is facing ...

YouTube Founders Acquire Social Media Analytics Firm

YouTube founders Chad Hurley and Steven Chen announced Monday that they had bought Tap11, a social media analytics firm. The acquisition came after they bought the social bookmarking service Delicious from Yahoo on April 27. Both companies will become part of AVOS, their new ...

CSR, Wabtec Tie up in Rail Car Braking Sys

A subsidiary of CSR Corporation Limited (CSR), China's largest rail vehicle maker, said Monday that it signed an agreement with U.S.-based Wabtec Corporation to establish a joint venture to produce braking systems for rail cars. According to the agreement, the CSR Zhuzhou ...

Apple Overtakes Google as World's Most Valuable Brand

Apple Inc. has overtaken Google as the most valuable brand in the world and more top global brands are originating from "BRICS" markets, global media communications services group WPP plc said in a report on Monday. The Apple brand has increased in value by 84 percent from last ...

Huawei looks to take on Cisco in data routers

Telecom equipment maker eyes chance to close gap with its rival BEIJING/SAN FRANCISCO - Huawei Technologies Co, China's largest maker of telecom-networking equipment, is banking on the rising number of mergers of computer and communication networks to narrow the gap with Cisco ...

Yanzhou Coal bids for Whitehaven

Employees of Yanzhou Coal Mining Co at work in a mine in Shandong province. [Photo/Provided to China Daily] Chinese miner offers more than $3.7 billion for the Australian company BEIJING - China's Yanzhou Coal Mining Co, the country's fourth-largest coal producer, has offered ...

Shanghai GM sets new April record

Surge continues for auto icon and its joint ventures BEIJING - General Motors and its joint ventures sold 203,367 vehicles in China in April, the third month this year that the carmaker's monthly sales surpassed 200,000 units in the world's largest vehicle market. Domestic sales ...

Chinese firm to start 2 overseas nonferrous metal projects

BEIJING -- China Nonferrous Metal Mining Co (Group) (CNMC), the country's non-ferrous metal giant, is expecting two of its major overseas projects to begin operation this year, said Luo Tao, general manager of the group. The Chinese state owned miner's $340-million wet copper ...

LandOcean goes it alone internationally

BEIJING - Aiming at becoming the biggest private oil and gas service company in Southeast Asia, LandOcean Energy Service Co Ltd will expand its business into the exploration sector for the first time in 2011. The company is preparing to explore some oil fields in Chinese ...

Apple 'resolves' clash with shoppers

Smashed glass covers the floor by the entrance to the Apple store in Sanlitun Village on Saturday. [Photo / Provided to China Daily] Store, injured parties agree deal following angry scenes A confrontation outside the Apple store in Sanlitun Village between a "foreign" staff ...

Apple's 'hunger marketing' triggers doubt

Though the confrontation outside the Apple store in Sanlitun Village was resolved peacefully, the company's long-term "hunger marketing" strategy has sparked questions from inside the industry, International Finance News reported Monday. "Hunger marketing" refers to a kind of ...

Chinese Internet firms rush for US IPO

SHANGHAI -- With two Chinese Internet firms landing the New York Stock Exchange (NYSE) last week and more expected to come, the US capital market is likely to see an IPO boom of Chinese companies in May. NetQin Mobile Inc, a Chinese maker of cell phone Internet security software, ...

Chinese Company to Start 2 Overseas Nonferrous Metal Projects This Year

China Nonferrous Metal Mining Co.(Group) (CNMC), the country's non-ferrous metal giant, is expecting two of its major overseas projects to begin operation this year, said Luo Tao, general manager of the group. The Chinese state owned miner's 340-million-U.S. dollar wet copper ...

Baidu Plans Legal Music Downloads

China's biggest search engine, Baidu Inc, plans to provide free downloads of copyrighted music from next week. The move comes as a response to increasing criticism of its involvement in copyright infringement. The new service, Baidu Ting, will see the search giant in head-to-head ...

China Life Insurance has new president

BEIJING -- China's insurance regulator said Friday it had appointed Yuan Li as the president of the China Life Insurance (Group) Company, the country's largest insurer. Yuan replaced Yang Chao as the company's president, said a short statement on the website of the China ...

DHL daily rail service links China to Russia, CIS

HONG KONG -- DHL has rolled out a key component of its multi-modal offering in China with the launch of daily continental rail services departing from Beijing and Shanghai to Russia and the Commonwealth of Independent States (CIS) and back, said the logistics company in a press ...
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