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Goldman Sachs acquires 12% of Taikang

BEIJING - China's insurance regulator has approved Goldman Sachs Group's purchase of a 12.02 percent stake, or 102 million shares, in Taikang Life Insurance Co Ltd, the insurance company said in a statement on Friday. "The two companies will strengthen cooperation in corporate ...

Toyota to Cut North America Production

Toyota is reducing production in its North American plants due to parts availability following the March 11 Japan earthquake, announced Toyota Canada on Friday. Over the next few weeks, Toyota's North American plants will operate on a reduced schedule, with production suspended ...

Google Gets Approved for Travel Software Company Acquisition

Google on Friday got approved by the U.S. Department of Justice for the 700 million- dollar acquisition of flight-data company ITA Software with several commitments to preserve competition in online airfare search. In its official blog, Google said it would close the acquisition ...

YouTube Launches Live Streaming Service

YouTube on Friday launched YouTube Live, a homepage for live content on the site and a new live-streaming platform. As part of the service, the world's largest video-sharing website introduced a new browse page, www.youtube.com/live, where users can view live events and add ...

Toyota to Resume Vehicle Production in All Japan Plants

Toyota Motor Corporation (TMC) said on Friday it will resume the vehicle production at all its Japanese plants from April 18 to 27. "The production volume is planned to be approximately 50 percent of the normal level," the company said in a statement. Afterward, all production ...

Chalco, Sapa Seal Deal for Aluminum Joint Venture

The Aluminum Corporation of China Ltd. (Chalco) signed an agreement in Beijing on Friday with Sweden's extruded aluminum profile maker, Sapa Group, to create a 50-50 joint venture in southwest China to produce aluminum parts for high-end rail transit projects. Under the agreement...

China CNR Corp. Reports 45 pct Rise in 2010 Profits

China CNR Corp., the nation's second largest train maker, reported Friday that its net profits surged 45.12 percent year on year to 1.91 billion yuan (291 million U.S. dollars) in 2010. Revenue hit 62.18 billion yuan, an increase of 53.48 percent year on year. The company's total ...

Goldman Sachs Invests in Taikang Life Insurance

The Goldman Sachs Group signed agreement with China's Taikang Life Insurance Co., officially announcing the stake acquisition, but no financial details of the transaction were disclosed. After the transaction, the Goldman Sachs holds 12.02 percent stake in Taikang, becoming the ...

Groundbreaking for Disney 'start of revitalization'

Minnie and Mickey Mouse in traditional Chinese costumes are all smiles at a ceremony marking the start of construction of the Shanghai Disney Resort project on Friday. [Photo / Xinhua] SHANGHAI - Construction of the long-awaited Shanghai Disneyland theme park started on Friday, ...

PetroChina official denies China Gas bid

HONG KONG - PetroChina Co Ltd, the world's second-biggest oil and gas producer by market value, is not considering a bid for natural gas distributor China Gas Holdings Ltd, Reuters reported Friday, citing a company official. PetroChina spokesman Mao Zefeng denied an earlier ...

Property tycoon, Feng, bites into Big Apple

NEW YORK - The Chinese real estate tycoon Feng Lun likes to say that when it comes to the property business: "I don't have any competitors - the only one I compete with is God." The 52-year-old chairman of Beijing-based Vantone Holdings Co Ltd - one of China's largest real estate ...

Akzo Nobel looks to paint a rosy picture

SHANGHAI - The paint and coatings giant Akzo Nobel NV said on Thursday that it will set up more manufacturing facilities in China as part of a plan to double revenue by 2015. Annually, the Netherlands-based company will use four percent of its revenue - between 600 and 700 ...

China CNR 2010 net profits surge 45%

BEIJING - China CNR Corp, the nation's second largest train maker, reported Friday that its net profits surged 45.12 percent year-on-year to 1.91 billion yuan ($291 million) in 2010. Revenue hit 62.18 billion yuan, an increase of 53.48 percent year-on-year. The company's total ...

Pratt & Whitney upbeat despite failure to win COMAC contract

SHANGHAI - Despite the failure to become the engine supplier for China's homegrown commercial aircraft, Connecticut-based jet engine maker Pratt & Whitney remains upbeat about its participation in China's aviation market. David Hess, president of Pratt & Whitney, told China Daily ...

Thrane & Thrane plans to double sales in China

Walther Thygesen, CEO of Thrane & Thrane BEIJING - Thrane & Thrane A/S, the world's biggest maritime satellite terminal supplier by market share, aims to double its sales in China in the next three years, according to its chief executive officer. The Chinese market contributed ...

Goldman buys into China's Taikang

HONG KONG - Goldman Sachs has bought a 12.02 percent stake worth more than $900 million in China's Taikang Life Insurance Co Ltd, as the US banking giant looks to benefit from growing demand for insurance products in the world's second-largest economy, Reuters reported on Friday. ...

Foreign life insurers seek niche market share

It's almost a consensus that China is a huge market for insurance companies, but the general manager of Taiping Life Insurance Co Ltd said it's just that wish to gain a big market share in China that prevents the development of many insurance companies. Zheng Ronglu, Taiping Life...

Companies look to gain access to rare-earth sources

BEIJING - China Minmetals Corp, the country's largest metals trader, and Guangdong Rising Nonferrous Metals Group Co will obtain stakes in Ganzhou Rare Earth Mineral Industry Co. Ganzhou Rare Earth owns most of the mining licenses for rare earths in Jiangxi province, which is the ...

3M plans new plant in China

HEFEI - The 3M corporation will invest one billion yuan ($152.8 million) to build a plant in Hefei, a city in East China's Anhui province, to produce new energy products, including solar photovoltaic materials, authorities said Thursday. The construction of the plant is set to ...

Firms cite fund shortage as key growth hurdle

Laborers at a factory in Huaying, Sichuan province. According to a survey, more than 40 percent of entrepreneurs said a capital shortage prevents them from expanding their businesses and they are seeking external financing support. [Photo / China Daily] BEIJING - Chinese ...
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