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Coda EV to Be Sold in U.S. Later This Year

U.S. electric vehicle (EV) maker Coda announced on Wednesday that it would begin selling cars in the U.S. market during the second half of this year. According to Coda CEO Phil Murtaugh, the electric vehicles were jointly developed by Coda and its Chinese partners, battery maker ...

Steve Jobs Shows Up at Apple Event

Apple Inc.'s chief executive officer (CEO) Steve Jobs, who is on a medical leave, took the stage at an event in San Francisco on Wednesday, quelling the speculations about his health. Apple is expected to unveil a second generation of its popular iPad tablet computer at the event...

Lego Reports Increased Profit for 2010

Danish toymaker giant Lego has marked a second straight year of steady profit growth, the company announced in its 2010 Annual Report on Thursday. The company earned 3.7 billion Danish kroner (691.78 million U.S. dollars) in net profit in 2010, up from 2.2 billion Danish kroner ...

Liquor Maker Wuliangye's 2010 Net Profit Up 33.9%

Wuliangye Yibin Co., Ltd., one of China's top liquor brands, announced Thursday that its net profit rose 33.91 percent in 2010 year on year to 4.35 billion yuan (about 661.37 million U.S. dollars). Operating revenue last year jumped 39.36 percent to 15.5 billion yuan, said the ...

Chinese and U.S. Companies Cooperate to Develop Power System for Large Passenger Plane

China's AVIC Electromechanical Systems Company Limited and the U.S. Hamilton Sundstrand announced Thursday that they would set up a joint venture to produce power systems for the C919, China's first domestically-produced large passenger plane. The joint venture will temporarily ...

Shenhua Group to Invest $78 Bln on Expansion in 2011-15

Shenhua Group, China's largest coal producer, said Thursday that it would invest 515.2 billion yuan (78.4 billion U.S. dollars) on business expansion in the next five years leading up to 2015. The company will add an additional 200 million tonnes in coal production capacity, ...

Chinese Retailers to Offer Refund to iPad Buyers

China's retailers will offer refund to recent buyers of iPad 1 as price dropped with the debut of iPad 2. Apple released the upgraded version of the tablet on March 3 and announced to lower the price tags of the first generation iPad 1 by up to 27.6 percent. Buyers of iPad 1 ...

Airbus Sees Asia-Pacific Airlines as Main Drive

European aircraft manufacturer Airbus predicted on Monday that Asia-Pacific airlines are expected to take delivery of around 8,560 new aircraft over the next 20 years, thus becoming the largest air transport market. These orders are valued at 1.2 trillion U.S. dollars, overtaking ...

Telco Offers Users Free Wi-Fi Services

China Mobile will upgrade its Wi-Fi network to cover 35 million square meters of buildings in Shanghai, including airports, railway stations and university campuses by 2011, the telco said Monday. It will also provide three hours of free Wi-Fi services each month to 20 million ...

Starbucks Eyes Higher Growth in China

Starbucks plans to introduce VIA Ready Brew, its instant coffee, to China in April, according to its senior executives. John Culver, president of Starbucks Coffee International, made the announcement in Beijing on Tuesday during a press conference held to mark the 40th anniversar...

Google Releases Latest Version of Chrome Browser

Google on Tuesday released a new stable version of its Chrome web browser, which the company said is speedier, simpler and safer. "With today's stable release, even your most complex web apps will run more quickly and responsively in the browser," Tim Steele, a Google software ...

Best Buy Bets on Inland China for Growth

U.S. consumer electronics retailer Best Buy says its retail strategy in China will focus on expanding its network into inland cities, where consumption is booming. This move reflects a change in strategy for the seller of 3D televisions and other electronic devices. Last month, ...

Indian Firm Inks Loan Agreement with China's Lender

Indian private-owned leading telecom operator Reliance Communications Wednesday said that it had signed the final document to tap 1.93 billion U.S. dollars loans from Chinese lender China Development Bank (CDB). As the largest loan in Indian telecom sector, the loan facility is ...

Qihoo 360 Technology Plans $200 Million IPO

Qihoo 360 Technology, China's third most-popular Internet company, plans to raise up to $200 million in an initial public offering, the company said in a filing with U.S. regulators on Monday. UBS Investment Bank and Citi are leading underwriters on the IPO. No further details of ...

Mainland Liquor Maker Issues TDRs on TWSE

Chinese mainland distillery, Dukang Distillers Holdings Limited, began issuing 130 million units of Taiwan depository receipts (TDRs) on the Taiwan Stock Exchange (TWSE) at 18.65 New Taiwan Dollars per unit on Wednesday. The offering makes Dukang the first alcoholic beverage ...

Bank of China to See Double Digit Loan Growth in 2011

Bank of China, one of the country's top four lenders, expected to grow its loan business at a double digit rate this year, its chairman Xiao Gang said Wednesday. But the growth rate will be less than that of last year, which stood between 13 percent and 14 percent, Xiao said. The ...

Trading of Meat Processor Shares Halted after Scandal

Trading of shares in China's largest meat processor was suspended Wednesday after an illegal additive was allegedly found in meat products in an affiliate of the company. Shares of Shenzhen-listed Henan Shuanghui Investment & Development Co., Ltd. were suspended from being traded ...

Sinopec, Saudi Aramco Sign MOU for Refinery Joint Venture

China Petrochemical Corporation (Sinopec) announced on Wednesday that it has signed a Memorandum of Understanding (MOU) with Saudi Aramco to jointly build a world-class, full-conversion refinery in Yanbu on the west coast of Saudi Arabia. According to the MOU, the two companies ...

Sichuan Airlines Launches Chongqing-Phuket Route

China's Sichuan Airlines opened a new route Wednesday from southwest China's Chongqing Municipality to Phuket in Thailand amid growing demand from Chinese wishing to travel abroad. The first flight departed from Chongqing at 8 p.m. Wednesday, carrying more than 100 tourists. An ...

China's GD Midea 2010 Net Profit Up 69.24 pct

China's major home appliance maker GD Midea Holding Co., Ltd., posted a 69.24 percent year-on-year net profit jump in 2010. In its annual business report filed to the Shenzhen Stock Exchange Thursday, the company said its net profit hit 3.13 billion yuan (about 476 million U.S. ...
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