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OPEC Predicts Slight Rise in Oil Demand for 2011-2012

In a monthly report published in Vienna on Tuesday, the Organization of Petroleum Exporting Countries (OPEC) expected a slight growth in global oil demand in 2011 and 2012 due to the uncertainties in global economy recovery. According to the OPEC forecast, the average daily ...

Kerry Logistics wins contract with Marks & Spencer

Kerry Logistics has been appointed by Marks & Spencer(M&S) as its logistics partner in Greater China. The contract incorporates logistics services across the supply chain for M&S, from suppliers pick-up through to direct delivery to retail stores across the region. Under the new ...

China's homegrown auto sales brake slightly

China's passenger car market achieved positive growth last month while homegrown auto brands are still skidding on ice, China Business News reported Monday. According to statistics from BYD, June sales hit 32,500 units, a decline of eight percent year-on-year and 21 percent from ...

Sichuan Hanlong bids for resources group

China's Sichuan Hanlong Group has made a A$144 million ($154.9 million) "highly conditional" bid for Australia's Bannerman Resources Ltd, eyeing the group's uranium project in Namibia near key mines. The bid at A$0.612 a share represents a 59 percent premium to Bannerman's close ...

Philips buying Shanghai Povos unit for $355m

Royal Philips Electronics NV plans to buy a unit of Chinese home appliance maker Shanghai Povos Enterprise Group Co for 2.3 billion yuan ($355 million) to 2.5 billion yuan, Xinhua News Agency reported, citing unidentified people familiar with the transaction. The unit, Povos ...

Wen pushes to contain pork prices

Premier Wen Jiabao told government departments to take immediate measures to support pork production and increase supplies to prevent a surge in the price of the meat, a key factor pushing up China's inflation rate. During a weekend visit to Shaanxi province, Wen said that ...

Peter Wong appointed chairman of HSBC Bank China

The Hongkong and Shanghai Banking Corporation Ltd said Monday that it has appointed Peter Wong as chairman of its fully-owned subsidiary HSBC Bank ( China) Company, succeeding Vincent Cheng, who retired from this position recently. The appointment has obtained regulatory approval ...

Measures set out to cool down housing market (4)

New option Peng said he can only afford a monthly interest rate of around 2 or 3 percent. "I am not the type of person who's willing to take huge risks. Therefore, I won't agree to take short-term loans with monthly interest higher than 3 percent, in case I fail to pay back the ...

Measures set out to cool down housing market (2)

Financial risks The developer added that there is a risk that he won't have enough money to pay back his high-interest loans if the number of home buyers continues to decline. In the second quarter, a survey of clients by the Wenzhou branch of the People's Bank of China, the ...

50 million cars a year by 2021: DRC

Despite a slowdown this year, the Chinese auto market may triple in size over the next 10 years, said a senior member of an influential government think tank. "The Chinese auto industry is likely to reach a peak of 50 million units over the next decade," said Liu Shijin, deputy ...

Huntsman Textile Effects to sponsor CNTAC Conference

As a proud partner of the A Global Textile Apparel Supply Chain Conference, CNTAC Conference in Keqiao, China, July 21-23 2011, Huntsman Textile Effects is pleased to be a major sponsor of the upcoming high-level exchange platform on textile apparel supply chain management and ...

China Mobile ambitious to lead 4G mobile technology

China Mobile, the country's largest mobile telecom operator, is taking ambitious steps to promote the "fourth-generation," or 4G mobile technologies, according to the general manager of its research institute. "You have to be a leader, not a follower...timing is everything," said ...

Mercedes-Benz builds engine plant in Beijing

German automotive giant Mercedes-Benz laid the foundation for its first overseas engine plant in Beijing on Saturday. The new factory of Beijing Benz-Daimler Chrysler Automobile Co., co-invested by Beijing Automotive Group and the Daimler Motor Company, the German automobile ...

China's auto market less robust in first half of 2011

China's automobile sales and output slowed down during the first half of 2011, China's automakers' association said on Friday. Automobile sales in the first six months of the year hit 9.32 million vehicles, up 3.35 percent from the previous year, according to a report issued by ...

China energy head highlights control on total energy use

China should give higher priority on control of total energy consumption as the nation faces strains of energy supplies amid fast development, said a senior energy official Saturday. Liu Tienan, head of the National Energy Administration, made the remarks at a conference in ...

China creates first archipelago new area to speed up development of marine economy

China has designated a string of islands off the coast of eastern Zhejiang Province as its latest new area to vigorously develop the country's marine economy. Bestowing Zhoushan with special economic status shows how serious the Chinese government is about marine development, ...

Regulator provides directions for Google and Microsoft

China's industry regulator will not shut down online mapping services provided by Google Inc and Microsoft Corp, the State Bureau of Surveying and Mapping said on Friday. The remarks - the first time the regulator has firmly denied that it intended to close the companies' online ...

Chinese market sets scorching pace for Asian automakers (2)

"If Nissan is able to launch low-priced cars that are highly reliable under the Venucia brand, we think it will win share from local makers," Nomura adds. Honda, too, along with Guangzhou Automobile, has rolled out Everus, a wholly new entity designed jointly by these two ...

China Mobile puts more pressure on Unicom

China Mobile Ltd said 5.6 million iPhone users had access to its wireless network by the end of May, putting increasing pressure on China Unicom (Hong Kong) Ltd, Apple Inc's official partner in the country. Wang Jianzhou, chairman of China Mobile Communications Corp, the parent ...

Rail patents 'do not violate IPR': Ministry

The Ministry of Railways has rejected a Japanese claim accusing China of violating intellectual property rights concerning high-speed rail technology. The accusation came after China submitted applications for international patents. Ministry spokesman Wang Yongping said on ...
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