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Unilever gets mouth washed out for remark

SHANGHAI - China has levied a fine on consumer products giant Unilever of 2 million yuan ($310,000) for talking to Chinese media about planned price hikes that sparked panic buying of shampoo and detergents in late March. The National Development and Reform Commission (NDRC) ...

Bank of China Sets to Launch Cambodian Branch

The Bank of China pledges to bridge closer economic ties between the two countries, said the visiting Yue Yi, vice president of Bank of China, on Friday. "The presence of the Bank of China in Cambodia is to strengthen and expand friendship and economic cooperation between ...

Over 4,000 Volvo Cars Recalled in China

China's quality control authorities said Friday that more than 4,000 Volvo S40, XC60 and C70 vehicles have been recalled over problematic headlight cleaning systems. The flawed headlight cleaning pump may affect the washer fluid level sensor, resulting in drivers' failure to get ...

Yuan Li Appointed as New President of China Life Insurance Company

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 Insurance ...

Renren Shines on US Debut; Analysts Wary

A Renren Inc banner hangs outside the New York Stock Exchange on Wednesday. Renren, thought of as a Chinese version of Facebook, rose as high as $24 from its issue price of $14 a share. [Photo: China Daily] While foreign investors hailed the 28.6 percent surge of Renren Inc at ...

Sales of iPad 2 Start

Dozens of Apple fans start to line up outside the Apple Store on Huaihai Road M. in Shanghai last night, waiting to buy the company's new iPad 2 tablet computer. Two employees are preparing a huge poster of the iPad 2 for the device's sale launch on the Chinese mainland Friday....

Indonesia big part of ZTE plans

ZTE Corp's booth at an exhibition in Shenzhen. The company has seen an average annual growth rate of 25 percent in Indonesia in the recent years. [Photo/Provided to China Daily]Company aims to double terminal sales, might move production base JAKARTA, Indonesia - China's second...

Bona reports Q1 profit surge

Bona Film Group Ltd was the first Chinese film company to list on the Nasdaq. The company distributed 13 films in 2010, taking 9 percent of the total domestic box office receipts. [Photo/China Daily] BEIJING - Bona Film Group Ltd, China's largest privately owned film distributor ...

Coke's 20/20 vision for China

Coca-Cola displays its environmentally friendly bottles at an international green technology exhibition in Beijing. China is Coca-Cola's third-largest market, after the United States and Mexico. [Photo/China Daily] ATLANTA, Georgia - For Coca-Cola Co, a brand that has a presence ...

Poker maker's IPO triggers public disputes

SHANGHAI - China's top poker maker has received a go-ahead from the securities regulator for its application for an initial public offering (IPO) on the smaller enterprise board, but the approval has triggered disputes among Chinese Internet users. It will be the first poker ...

China punishes Unilever for price hike remarks

BEIJING - China's top price regulator announced on Friday that Unilever (China) Co Ltd would face a fine of 2 million yuan ($303,000) over statements that led to price hikes for Chinese consumer goods. The fine, handed down by the Shanghai municipal pricing authority, came amid ...

China sets up 1st charity fund financed by stocks

BEIJING - With a donation of 300 million shares from billionaire Cao Dewang's company, China's first charity foundation financed with stocks was set up on Thursday to step up the country's efforts to fight poverty. The Heren Foundation, named after Cao's late father, is the ...

Airlines biggest reason for delays

BEIJING - Problems that originate with airline companies are the main reason for the country's delayed flights, the Civil Aviation Administration of China, the authority that oversees the nation's skies, said in a report on Wednesday. The appraisal of the air transportation ...

E-reader maker looks for tonic

According to analysts, the popularity of tablet PCs will have a negative effect on the e-book-reader industry. The market growth for e-book readers in China this year will be 1.05 million units, below previous estimates, while sales of tablet PCs will reach at least 4.5 million ...

Rio Tinto sees no material impact from Japan quake

PERTH, Australia - Rio Tinto Group, the world's third-largest miner, expects global markets to remain volatile in the short term, but said strong demand from China had offset any temporary loss of sales to Japan following the earthquake and tsunami disaster. The company said it ...

Midland Realtyis closing down Shanghai shops

SHANGHAI - Hong Kong-listed real estate company Midland Holdings Ltd, will close all eight of its Midland Realty brokerages in Shanghai by the end of this month. Though Midland's departure from the pre-owned housing market resulted largely from its poor adaptation to the mainland ...

Foxconn pulls out of Hunan proposal

Staff at work on the production line at the Foxconn complex in Shenzhen. Because of increased labor costs, the company recorded its biggest drop in profit in two years in the first quarter. [Photo/Provided to China Daily]SHANGHAI - Foxconn Technology Group, the world's largest ...

Coca-Cola Eyes Doubling System Revenue by 2020

The Coca-Cola Company aims to double the system revenue generated by the company and its bottlers from 2010 to 2020, Muhtar Kent, chairman and CEO of the beverage giant, said Thursday. The Coca-Cola chief noted that the emerging economies including China and Brazil are reshaping ...

CSR Sees Massive Orders in Train

A manufacturing facility owned by China South Locomotive & Rolling Stock Corporation Ltd in Nanjing. The company had revenue of 64.9 billion yuan in fiscal 2010, an increase of almost 40 percent year-on-year. [Photo: China Daily] China South Locomotive & Rolling Stock Corporation ...

G.M.'S Quarterly Earning Triples

General Motors Co. announced Thursday that it posted a 3.2 billion U.S. dollars profit during the first quarter, culminating in five sequentially profitable quarters, and more than tripled what it earned in the first quarter of 2010. Earnings were 1.77 dollars a share, compared ...
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