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KKR to invest in China's largest liquor store chain

HONG KONG - Private equity firm Kohlberg Kravis Roberts & Co (KKR) said on Thursday it will invest in China's largest liquor store chain, adding another Chinese consumer asset to its Asia portfolio, Reuters reported Wednesday. KKR did not disclose the amount of money it is ...

Tencent announces launch of int'l QQ

SHANGHAI - Tencent Holdings Limited, the leading provider of Internet and mobile & telecommunications value-added services in China, today announced the launch of version 1 of their QQ International (QQi 1.0) instant messenger (IM) product. The international version of China's ...

Growth on menu for McDonald's in coming year

BEIJING - McDonald's will open 175 to 200 restaurants in China next year as it steps up its expansion in the nation. Having established its first restaurant on the mainland in 1990 in Shenzhen, Guangdong province, McDonald's currently has more than 1,100 stores in China with more ...

Korean Air plans to add new Hangzhou route

BEIJING - Korean Air is adding a new route to boost its growing Chinese market presence, as its air passenger revenue in 2010 from the country surged 33 percent year-on-year, the company said on Wednesday. The carrier plans to launch a route in the first half of 2011, connecting ...

Baidu sees growth rate slowing in 2011

SHANGHAI/BEIJING - A senior executive of China's top search engine, Baidu Inc, forecast its top-line and bottom-line growth rates to moderate over the next year, sending its shares down six percent on Wednesday, said a Reuters report. Haoyu Shen, Baidu's senior vice-president of ...

Chinese company signs agreement to expand airport in Ethiopia

ADDIS ABABA - The Ethiopian Airports Enterprise (EAE) has hired China Road and Bridge Corporation (CRBC) Addis Engineering to expand the Addis Ababa Bole International Airport. Both companies on Tuesday signed a construction agreement valued at 1.1 billion Birr ($66.7 million) to ...

McDonald's to boost investment in China by 40% in '11

BEIJING - McDonald's Corp, the world's largest chain of hamburger fast food restaurants, plans to increase its investment in China by 40 percent in 2011, primarily by opening 175-200 new restaurants in the country, the company said in a statement on Wednesday. It did not provide ...

Hotels raising rates ahead of uni exams

Prices of hotel rooms near centers for university examinations have jumped as much as 20 percent, hours after applications for the exams closed on Monday. Many star-level hotels are putting on special services for students intending to take the exams on June 7 and 8, Beijing ...

'China Top Brand' to be phased out

The so-called "China Top Brand," a title conferred by the General Administration of Quality Supervision, Inspection and Quarantine (GAQSIQ) on selected promising enterprises, will be gradually suspended from use, the Beijing Times reported Friday. According to GAQSIQ's statement, ...

Merck to set up R&D unit in Beijing

Merck Serono, a division of pharmaceutical and chemical giant Merck KgaA, plans to establish a global research and development (R&D) center in Beijing, to strengthen its global R&D capabilities and expand business in China, said company executives yesterday. The Geneva-based ...

Futuroscope theme park to be built in central China

A French Futuroscope theme park is expected to be built in central China's Hubei province, said local authorities on Sunday. According to a letter of intent on cooperation, signed in Wuhan on Saturday between the provincial capital Wuhan and the French company, Futuroscope ...

P&G turns to innovation to win more customers

When the economy is not good and customers become more discerning, consumer product companies have to rely on innovation to cater to more demanding requirements. Procter & Gamble Co (P&G), an innovation advocate, is one company that can benefit from a focus on innovation during ...

Volkswagen Group will 'Strive to Win' in South China

German Auto giant Volkswagen Group unveiled an ambitious strategy called "Strive to Win" to more than triple its sales in south China from 150,000 units to half a million annually. The strategy was announced on the eve of the seventh China Guangzhou Automobile Exhibition, which ...

Coca-Cola China assists AIDS orphans

He is known for working to help children orphaned by AIDS in Africa, England and China. He has been to China's rural areas numerous times to meet and assist affected children. He is also president of the China branch of the world's largest beverage company. Under the leadership ...

China to step up supervision to key sectors, officials to curb corruption

BEIJING: China's Ministry of Supervision said Thursday it would enhance supervision to key sectors and leading officials this year to ensure clean and efficient work in promoting the country's sound economic and social development. The supervision and examination would target ...

Changhong accused of financial frauds

Informants say Sichuan Changhong Electric Co, Ltd has been falsifying its financial reports for more than ten years, and authorities have begun looking into the case, the China Business News reported today. One of the accusations is that the company invented about 5 billion yuan ...

BOC may raise 50b yuan through H-share issuance

Bank of China (BOC) is about to issue H shares to raise 50 billion yuan, the National Business Daily reported on Thursday. According to the report, the bank has asked its investment bank to submit a fund raising plan for the second half of the year. Luo Nan, the bank's head of ...

Baosteel may buy into EU peers

China's largest steel maker Baosteel Group has prepared 5 to 10 billion euros ($6.76 to $13.52 billion) to cooperate with or buy into one of the two candidate stainless steel makers in Europe, sources told the 21st Century Business Herald yesterday. The two targeted companies are ...

Ping An rolls dice on unpopular overseas banking model

Ping An Insurance (Group) Co, the world's second-biggest life insurer, aims to sell banking and investing services to its 50 million customers with a one-stop shopping model being abandoned by US and European companies. Ping An, listed in Hong Kong and Shanghai, expects banking, ...

Espanyol agrees 4-year sponsorship with China's Li Ning company

MADRID: Spanish BBV Primera Liga club Espanyol announced on Wednesday that it had reached an agreement to sign a four-year sponsorship deal with the Chinese Li Ning Company Limited. The two will sign the agreement in a ceremony on Friday, Feb 26. The agreement will make Espanyol ...
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China offers inspirations to global dilemmas
China offers inspirations to global dilemmas
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Bill Gates talks nuclear
Bill Gates talks nuclear
Microsoft co-founder Bill Gates confirmed on Wednesday that he is ...
China slams Japan's NHK governor's denial of Nanjing massacre
China slams Japan's NHK governor's denial of Nanjing massacre
BEIJING, Feb. 5 (Xinhua) -- China on Wednesday slammed the remarks of ...

world

market

China's farm product pricing plan shifts to market orientation
China's farm product pricing plan shifts to market orientation
The Number One Document also proposed a new pricing plan for China's ...
IMF chief warns of risks to recovery
IMF chief warns of risks to recovery
DAVOS, Switzerland, Jan. 25 (Xinhua) -- The International Monetary ...
GM China chairman to retire
GM China chairman to retire
CHICAGO, Jan. 24 (Xinhua) -- General Motors Co. announced Friday that ...

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industry

Minivans rev up sales for GM
Minivans rev up sales for GM
Sales of General Motors and its Chinese ventures accelerated in ...
Court rejects Apple lawsuit over iPad name
Court rejects Apple lawsuit over iPad name
Shenzhen Municipal Intermediate People's Court has rejected a lawsuit ...
Chinese leader calls for more marine power
Chinese leader calls for more marine power
Chinese Vice Premier Zhang Gaoli Sunday called for research in polar ...

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sports

Lucrative golf industry lures stiff competition
Lucrative golf industry lures stiff competition
Two models stand beside golf equipment and bags at a recent golf ...
Yao's gift of sport for all
Yao's gift of sport for all
Chinese NBA player Yao Ming teaches a boy with special needs how to ...
Fourteen countries expected to compete in Cuba's wrestling tourney
Fourteen countries expected to compete in Cuba's wrestling tourney
Some 14 countries and regions are expected to compete in the 45th ...
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