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China mining firm to invest in Zambia venture

China Nonferrous Metal Mining (Group) Co Ltd (CNMC) will invest $600 million in mining projects in Zambia, said an executive of the company. Luo Tao, president of CNMC, said half of the planned investment will go to Luanshya copper mines and the rest will finance Chambishi copper ...

Wuhan Steel ups prices

Wuhan Iron and Steel Co yesterday raised the May ex-factory prices of its products by a large margin, Shanghai Securities News reported, citing insiders at Wuhan Steel as saying the hike still lags behind iron ore price surges and further adjustment is possible. Most products ...

WellPoint scouts for JV partner

BEIJING - WellPoint Inc, the US largest health benefits provider by membership volume, is scouting for a joint venture partner to set up a health insurance firm in China, the company's top executive said on Tuesday. Angela Braly, WellPoint's president and CEO, came to China for ...

Wall St backed Chinese dairy firm collapses

HONG KONG: Chinese dairy products maker Taizinai, which counts Goldman Sachs and Morgan Stanley among its investors and Citigroup among its lenders, has collapsed, leaving 3 billion yuan ($440 million) in debt, the South China Morning Post reported on Wednesday. Morgan Stanley, ...

AirPlus turns to China for business travel growth

BEIJING - AirPlus International, a global business travel management services company, hopes to accelerate growth in China, one of its fastest growing markets, in a move designed to help it recoup losses incurred during the global economic downturn. "Expansion of our presence in ...

Hyundai Merchant signs $315m deal with Hebei Steel

SEOUL: Hyundai Merchant Marine Co, South Korea's second largest shipper, in partnership with a Chinese local firm, announced Tuesday that it has signed a deal worth $315 million with China's Hebei Steel Group to transport iron ore for the next 15 years. The deal calls for Hyundai ...

Avon suspends 4 executives amid bribery probe

NEW YORK - Avon Products Inc has suspended four executives as it investigates alleged bribery that began with the company's China operation and now involves a dozen or more countries, according to the Wall Street Journal. Avon suspended the president, chief financial officer and ...

TV maker TCL's overseas sales surge in March

SHANGHAI - China's top TV maker, TCL Corp, said Monday its March overseas sales of LCD TVs more than doubled in Europe and more than tripled in emerging markets. The home-appliance maker said it sold 112.6 percent and 244.9 percent more LCD TVs in Europe and emerging markets, ...

China Eastern set to join SkyTeam alliance

PARIS - Shanghai-based China Eastern Airlines is set to join the SkyTeam global airline alliance, La Tribune newspaper reported in a preview of its Tuesday edition. The move is expected to be announced at the end of the week, the newspaper said. SkyTeam includes Air France-KLM ...

Sinotruk posts surging sales in first 3 months

BEIJING - China's top heavy truck maker, Sinotruk, said later Monday it sold 22,154 units of heavy trucks in the first quarter this year, a year-on-year rise of 45.08 percent. The Jinan-based truck maker also reported a 58.75 percent increase in heavy truck production which ...

Disney president vows to increase cooperation with China

BEIJING - Robert Iger, president and CEO of Walt Disney Co, said here Monday that his company would continue increasing cooperation with Chinese cultural and media circles. "We value the market of China," Iger said during a meeting with Liu Yunshan, head of the Publicity ...

Net profit of Hafei Aviation falls in 2009

Hafei Aviation Industry Company Ltd said Sunday its net profit declined by 18.41 percent in 2009 from 2008 on falling revenues and increasing operating cost. Special Coverage:2009 Annual Reports of Listed Companies The company, primarily engaged in development, manufacture and ...

Coca Cola adopts twin pandas

BEIJING: Munching their favorite bamboo and apples, the first pair of twin pandas born after the Sichuan earthquake on May 12, 2008, Le Le and Mei Mei, first met the public last month and were adopted by their new "parents". Coca Cola, the world's largest beverage giant, has ...

ICBC lends, donates to fight drought in SW China

BEIJING - The Industrial and Commercial Bank of China Ltd (ICBC) said it has donated 10.28 million yuan ($1.51 million) to drought-hit areas in southwestern China. ICBC, China's biggest listed lender, extended 4.33 billion yuan in loans between October 2009 and the end of first ...

Shanxi Fenjiu Liquor Group's 2009 net profit jumps 45%

BEIJING- Shanxi Fenjiu Liquor Group Co Ltd, China's well-known white spirit maker, said Friday its 2009 net profit soared 44.79 percent in its annual report filed with the Shanghai Stock Exchange.The company said its net profit jumped to 354.99 million yuan ($51.96 million) last ...

Chinese company builds modern stadium in Ethiopia

ADDIS ABABA - Ethiopian sport club, Saint George Sport Club, and Chinese company, China Jiangxi Corporation for International Economic and Technical Corporation (CGCI), signed on Friday an agreement that enables the Company to construct a modern stadium in Ethiopia.The new ...

Chinese brewer Tsingtao sees net profit leap in 2009

BEIJING - Tsingtao Brewery Co Ltd, one of China's leading beer makers, Friday announced a 2009 net profit of 1.25 billion yuan ($183.1 million), up 79.2 percent year-on-year. Special Coverage:2009 Annual Reports of Listed Companies Its sales revenue rose 12.5 percent year-on-year ...

Chinese property brokerage eyes new market

Century 21, China's first US-listed real estate brokerage firm, will extend its business to 1,350 outlets in 39 Chinese cities this year it announced Thursday. Vice Chairman Lu Hang said the company would enter the new residential and commercial property markets. Lu expected the ...

Guangdong bank to raise $2b via share issue

Citigroup controlled Guangdong Development Bank said it will issue up to 15 billion yuan ($2.2 billion) in new shares to boost its capital, becoming the latest Chinese bank to raise funds after an industry-wide lending binge in 2009. The bank would issue up to 3.4 billion new ...

Yunnan Copper back to profit in 2009

Yunnan Copper Industry Co, China's fourth-largest producer of the metal, turned to a profit in 2009 as prices of the metal surged. Net income rose to 373 million yuan ($54.7 million) in the year ended on Dec 31, from a loss of 2.8 billion yuan a year earlier, the Kunming, Yunnan ...
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China slams Japan's NHK governor's denial of Nanjing massacre
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China's farm product pricing plan shifts to market orientation
China's farm product pricing plan shifts to market orientation
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GM China chairman to retire
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industry

Minivans rev up sales for GM
Minivans rev up sales for GM
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Court rejects Apple lawsuit over iPad name
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Chinese leader calls for more marine power
Chinese leader calls for more marine power
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Lucrative golf industry lures stiff competition
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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
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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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