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Huawei questions high-tech rebuff

Telecom giant says 'just investigation procedures' in the US will show truth After it was again turned back in a bid to acquire a high-tech US firm or assets, telecommunications giant Huawei Technologies has for the first time questioned how the purchase threatened US security. ...

Rights to Pleasant Goat, Big Wolf graze HK$1 billion

Imagi International Holdings Ltd plans to make three movies including a 3D version with the popular Chinese cartoon characters Pleasant Goat and Big Big Wolf after purchasing Toon Express Group, which owns their trademark and copyright. The HK$810 million ($104 million) ...

Fosun Pharma to float shares in HK

SHANGHAI - Shanghai Fosun Pharmaceutical (Group) Co Ltd (Fosun Pharma) plans to float shares on the Hong Kong Stock Exchange, the Shanghai-listed company said in a filing to the Shanghai Stock Exchange on Tuesday. Analysts regarded the move as a further step in the company's ...

Increased aluminum prices boost Chalco profit

SHANGHAI - Aluminum Corp of China Ltd, or Chalco, swung back into profit in 2010 after posting a loss in 2009, thanks to increased global aluminum prices. The country's biggest aluminum producer by output posted a net profit of 778 million yuan ($118 million), or 0.06 yuan a ...

Minmetals to buy more assets

A model of an Aluminum Corp of China Ltd plant inside the company's headquarters in Beijing. [Photo / Bloomberg] Mining giant intends to meet rising demand for raw materials BEIJING - China Minmetals Corp, one of the country's top mining companies, is planning to expand its ...

CAIGA acquires US planemaker in historic deal

A booth of China Aviation Industry General Aircraft Co Ltd at an industrial show in Beijing. The company announced on Tuesday that it has signed an agreement to acquire Cirrus Industries Inc. [Photo / China Daily] BEIJING - China Aviation Industry General Aircraft Co Ltd (CAIGA) ...

Poly Real Estate reports 40% profit surge

The Poly Real Estate Group Co booth at a property expo in Beijing. On Tuesday, Poly Real Estate shares rose 3.48 percent, the biggest gain since Jan 11. [Photo / China Daily] BEIJING - Poly Real Estate Group Co Ltd, China's second largest property developer by market value, said ...

Groupon Unveils Gaopeng

Group buying giant Groupon Inc officially launched the Chinese version of its website Gaopeng.com Monday as it seeks to tap China's booming online spending. Gaopeng - eminent guests in Chinese - was co-funded by Groupon, Tencent Holdings and Yunfeng Ventures, a private equity, ...

Baosteel inks coal import deal with Rio Tinto

Baoshan Iron & Steel Co Ltd (Baosteel), China's largest listed steelmaker, signed a long-term coal-import agreement with the Australian mining company Rio Tinto Group, China Business News reported Tuesday. According to the agreement, Rio Tinto will provide high-quality charred ...

Henkel to drive sales from emerging economies

SHANGHAI - German detergent and glue maker Henkel plans to draw 45 percent of its global revenue from the emerging economies by 2012, up from the current 41 percent in 2010. In fact, the Asia-Pacific region contributed 14 percent to the global sales in 2010, and almost 40 percent ...

China's leading construction company halts projects in Libya

SHANGHAI - China State Construction Engrg Corp Ltd (China Construction), China's leading off-shore construction outsourcing company, on Monday said it is suspending its projects in Libya as the unrest continued in the North African state. Company sources said China Construction ...

At the top of the class

BEIJING - Xueda Education Group, a provider of personalized after-school tutoring for elementary and high school students in China, expects to expand its service network and product and service offerings through mergers and acquisitions, says Xin Jin, the company's vice-chairman ...

Airbus parts factory starts operation in Harbin

HARBIN - A plant to manufacture and assemble airframe parts for Airbus wide-body aircraft started operation in China's northern industrial city of Harbin on Monday. The plant, covering 80,000 square meters of land, is owned by Harbin Hafei Airbus Manufacturing Center, a joint ...

Alibaba scandal may help rivals' business

HONG KONG - Alibaba.com Ltd, owner of China's largest online-commerce site, has been the go-to marketplace for Western companies seeking gaskets, garden gnomes and gelatin. Disclosures that its salespeople helped defraud buyers may send business to rivals Google Inc and Global ...

Suning continues expansion in traditional, online commerce

By the end of 2010, Suning Appliance Co Ltd had four logistics bases in operation, with 10 under construction and agreements had been signed to begin building another 17.[Photo / Provided to China Daily] BEIJING - Suning Appliance Co Ltd, China's biggest home appliance retailer ...

Tencent shares rally on group-buying website venture

SHENZHEN, Guangdong - Shares of Chinese Internet giant Tencent surged Monday with the opening of a new joint venture with US group-buying website Groupon. The launch of bargain website GaoPeng.com boosted Tencent Holding stocks by 3.2 percent to finish at HK$206 in Hong Kong. ...

Commerzbank ups cross-border focus in Asia

BEIJING - Commerzbank, Germany's second-largest lender, announced on Monday ambitious plans with a cross-border focus for corporate customer business with China and Asia. It expected its corporate banking business volume in the world's second-largest economy to increase by 20 ...

Google Tries to Resolve Email Service Problem

Google said on Monday that it is continuing to investigate a problem with its Gmail service, which reportedly caused some users' emails being all erased. The issue popped up over the weekend as users reported on online forums that they had lost emails and other information within ...

China's Leading Construction Company Halts Projects in Libya amid Unrest

China State Construction Engrg. Corp. Ltd. (China Construction), China's leading off-shore construction outsourcing company, on Monday said it is suspending its projects in Libya as the unrest continued in the North African state. Company sources said China Construction has ...

AirAsia X Orders 3 More Airbus A330s

Airbus has won aircraft order to deliver three A330-320s to AirAsia X, an Asian long-haul budget carrier, the French group said Monday. Expected to be delivered by 2014, the ordered aircraft will offer low fare service to destinations in Europe, Asia and the Pacific, Airbus said ...
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