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News Corp Delays Daily Launch

News Corp is pushing back the launch of the world's first iPad-only newspaper. The company declined to comment on why. But a person familiar with the matter, who spoke on condition of anonymity because the person was not authorized to disclose details, said on Friday that News ...

China Gets First Overseas order for LNG Ships

China State Shipbuilding Corporation (CSSC) signed a contract with Exxon Mobil and Mitsui & Co., Ltd on Saturday to build four LNG ships (liquefied natural gas), the nation's first overseas order for such an advanced carrier. Hudong-Zhonghua Shipbuilding (Group) Co., Ltd, a ...

BP, Russian Company Sign Deal on Share Swap

British Petroleum (BP) signed an agreement with Russia's state-controlled oil producer Rosneft on Friday evening, under which BP will swap 5 percent of its stock, valued at 7.8 billion U.S. dollars, for 9.5 percent of Rosneft. The agreement also allows BP to explore three blocks ...

Sinovel Loses Power and Falls 10pct

Chinese wind turbine maker Sinovel Wind Group Co slumped by nearly 10 percent in its Shanghai trading debut on concerns its stock is overpriced and that rising competition will slow its earnings growth. The company, which raised 9.46 billion yuan (US$1.4 billion) in the first ...

PepsiCo Aims to Put Fizz Back in Business

Subway commuters in Beijing walk past a vending machine containing PepsiCo beverages. According to reports, the company plans to buy back stake holdings from local partners in an effort to gain full control and profits of its business in the Chinese market. [Photo: Bloomberg] ...

PetroChina's Oil, Gas Output Tops 200 mln Tonnes in 2010

China National Petroleum Corporation (PetroChina), the nation's largest oil and gas producer, said on Thursday that its 2010 crude oil and gas output exceeded the equivalent of 200 million tonnes of oil. Specifically, domestic oil production hit 1.05 trillion tonnes, while gas ...

EADS Denies Report Concerning Industrial Spying

The head of EADS, Europe's leading aerospace company, never said that industrial spying was a "reality in China," a company spokesman said Thursday. "We strongly deny the Financial Times' allegation that EADS CEO Louis Gallois declared spying to be a 'reality in China'. This is ...

Singapore Airlines to Launch Flights to Sao Paulo, Brazil

Singapore Airlines will launch flights to Sao Paulo, Brazil, starting from March 28, the airline said Wednesday. Sao Paulo will be Singapore Airlines' first destination in South America. The flight will operate on Monday, Thursday and Saturday, with the flights first heading to ...

China's Top Property Developers Post Big Rise in 2010 Sales

Property sales by China's three biggest listed property developers surged in 2010 despite government measures to cool the sector, according to company statements Wednesday. Poly Real Estate Group Co., China's second largest developer, said its property sales in 2010 rose 52.53 ...

Consolidation Conundrum for Mills

For over a year, what Bai Guolin has mostly done at work is roam around his steel factory in the suburbs of Tangshan, fretting about how to sell the thousands of tons of steel piled around the factory. As the sales director of Tangshan Taihe Iron and Steel Co Ltd, he reminisces ...

Power Firm Seeks to Lift Grid Investment

China Southern Power Grid Corp, the smaller of the mainland's two state-owned power distributors, aims to boost investment in grid networks by almost a third in the next five years. The company, which runs networks in five provincial areas in south China, said it has earmarked ...

China's ICBC Opens Branch in Madrid

The Spanish branch of Industrial and Commerce Bank of China (ICBC) was officially inaugurated in Madrid Monday. ICBC President Jiang Jianqing, Spanish Minister of Industry, Tourism and Commerce Miguel Sebastian and Chinese Ambassador to Spain Zhu Bangzao attended an inaugural ...

Huawei Sues Motorola over Intellectual Property Right

China's Huawei Technologies Co. sued Motorola and Nokia Siemens Networks on Monday in order to protect its intellectual property right, the company said in a press release. The lawsuit, filed in U.S. District Court for the Northern District of Illinois, marks the first time ...

BAIC Buys Guangzhou Baolong

BAIC unit Foton is most noted for heavy trucks, but also makes small cars, part of wide diversification by the parent company. [Photo: China Daily] Part of Beijing automaker's blueprint for rollout of its own brand BAIC Group, the partner of Daimler AG and Hyundai Motor Co, ...

China's Haier Sees Profit Up 78 Pct

Haier Group, one of the world's leading white goods and household appliance manufacturers, announced Sunday that its profit jumped 78 percent year on year in 2010. The profit hit 6.2 billion yuan (941.8 million U.S. dollars) in 2010, said Du Fangyuan, a press office coordinator ...

ICBC Opens Branch in Milan

The world's largest bank, Industrial and Commercial Bank of China (ICBC), inaugurated its first Italian subsidiary in Milan on Friday. At the official opening ceremony, ICBC President Jiang Jianqing said the establishment of ICBC Milan will help bridge the two countries in trade, ...

Beijing's Olympic Basketball Stadium Renamed MasterCard Center

Beijing's 2008 Olympic basketball stadium, newly named MasterCard Center, opened its door Firday for a spectacular sell-out concert by Hong Kong pop singer Jacky Cheung. Under a five-year deal, MasterCard acquired earlier this month the right to put its name on the 18,000-seat ...

Chinese Money Looks to Invest in US

Nick Damjanovich, construction superintendent of SANY America, stands at a construction site in the Peachtree City Industrial Park, Georgia, US. [Photo: China Daily/Tan Yingzi] Chinese companies are making their way into the United States, and their influence can be felt in all ...

373 Imported Land Rover Defenders Recalled

Jaguar Land Rover Auto Trade (Shanghai) Ltd. Co. recalled 373 imported Land Rover Defenders Friday because of a transfer case defect, China's top quality regulator said. The cars were produced between Oct. 5, 2007, and Nov. 4, 2010, the General Administration of Quality ...

China Still Major Manufacturing Base for Motorola after Split: Motorola

China's importance for Motorola remains unchanged after the company split into two on Jan. 4, the company said Friday. Miao Yi, Motorola Mobility China Corporate PR manager, told Xinhua in a written interview China remains Motorola Mobility's largest manufacturing base, its ...
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