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Elevated trains may ease traffic gridlock, noise

Use of overhead railway lines may help ease traffic in some of China's densely populated cities, according to Wang Mengshu, a professor at the Tunnel and Underground Engineering Research Center at Beijing Jiaotong University. The professor made the comments via a statement ...

Commerzbank dials in sights on corporate world

Commerzbank, the second largest bank by market capitalization in Germany, is vowing it will deliver 20 percent growth in its corporate banking business in China this year, which doubles the target it set for all of Asia, according to a media briefing held in Beijing Monday. After ...

JV to make composite plane parts

Harbin Hafei Airbus Composite Manufacturing Center opened a new plant yesterday that will produce major components for the Airbus A350 XWB, a medium capacity, long-range widebody aircraft. Composite parts to be produced include rudders, elevators, maintenance doors and belly ...

Suning appliance reaps rewards

Suning Appliance Co, the nation's biggest home electronics' retailer by market value, saw its net profit last year surge almost 40 percent over the previous year, according to its 2010 annual performance report released Monday. Total business income of the Nanjing-based company ...

State oil giants shut taps, exit from Libya

China's three major State-owned oil and gas companies have evacuated all their Chinese employees out of Libya, the companies said. China National Petroleum Corp (CNPC), parent of PetroChina, said it has halted production operations and sealed equipment in Libya and evacuated all ...

Groupon unveils Gaopeng

GROUP buying giant Groupon Inc officially launched the Chinese version of its website Gaopeng.com yesterday as it seeks to tap China's booming online spending. Gaopeng - eminent guests in Chinese - was co-funded by Groupon, Tencent Holdings and Yunfeng Ventures, a private equity, ...

Motorola sues TiVo

Motorola Mobility has sued TiVo Inc for infringing its patents for digital video recorders. Motorola said it was seeking to protect its interests after TiVo sued Verizon Communications Inc, which uses Motorola's technology, for patent infringement.

Three-year coke deal

China's Baoshan Iron & Steel said yesterday that it had signed a three-year coking coal supply contract with major Australian miner Rio Tinto to kick off new long-term cooperation. Rio Tinto will supply coking coal to the Chinese steel firm starting this year, making Baosteel its ...

HSBC cuts 2011 financial targets

People sit next to an HSBC lion statue at the bank's headquarters in Hong Kong yesterday. HSBC said that its net profit more than doubled to $13.2 billion last year as bad debts plunged to their lowest level since 2006. Photo: AFP HSBC cut its profitability targets due to the ...

Online video sector stuck in the red

Both US-listed online video portals, the Beijing-based Youku.com and Ku6 Media Co, have reported a net loss in their 2010 fourth quarter financial reports released Tuesday. Analysts attributed the problem to the industry's high investment requirements in the initial stage of ...

Industrial Securities profit dives 32%

Industrial Securities Co reported Tuesday a 32 percent drop in its net profit, which was attributable to its shareholders in 2010 due to shrinking commission revenues, the volatile stock market and intensifying competition in the industry. The brokerage firm had total revenues of ...

Rich man's sport? (3)

Get your bonk on As a showcase for an enlarging consumer base for skiing, a group of 1,000 spectators gathered in Nanshan Park in Beijing last Saturday night to watch extreme snowboarders show off their flashy cabs, bonks and other tricks. According to Olli Fenwick-Ross, PR ...

US slams Baidu, Taobao for piracy (2)

It said 100 salespeople, out of a workforce of 14,000, allegedly involved in defrauding customers, were also fired, the AP reported. The US Chamber of Commerce advised Congress to pass legislation allowing US courts to block foreign websites that sell pirated or counterfeit goods ...

Rich man's sport? (2)

Booming business As both the Chinese economy and urban residents' incomes grow, more and more people are becoming curious about trying out some snowy speed, and the business is growing. According to the National Bureau of Statistics, the per-capita disposable income of urban ...

Few unauthorized discs found on sale in region's stores

Pirated DVDs are rarely seen in stores in the special administrative region, said Ung Kuoc Iang, president of the Macau Association of Composers, Authors and Publishers, as he praised the intellectual property department of the Macao Customs Service for their efforts against ...

200,000 pirate DVDs seized were sourced in Guangzhou

Police in the provincial capital Xi'an sized 200,000 pirated and pornographic DVDs worth an estimated 4 million yuan ($608,000) in a raid carried out after a two-month investigation. The haul included illegally copied movies and TV series, said the police. The discs, found in a ...

180 million yuan deal for development of new drugs

Shanghai Pharmaceutical Holding Co Ltd recently invested 180 million yuan ($27.3 million) to purchase patents for four new drugs from Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co Ltd. One of the new drugs is intended to relieve arthritis and the rest treat tumors. The two ...

Rights to famed Qing Dynasty ghost story sets new record

The overseas film distribution rights for a Chinese ghost story have been sold for $12 million, a new record in the genre, the film's producer announced at its global cinema signing ceremony held on Feb 23. Adapted from the noted ancient novel Strange Tales by Qing Dynasty (1644...

22 arrested for illegal Mir 2 online gaming network

Shenyang police seized 200 computer servers and arrested 22 suspects in the province's first infringement case involving private networks providing the popular online game Mir 2. The private servers enabled operators to offer the game without authorization from copyright owners. ...

Huawei questions high-tech rebuff

Telecom giant says 'just investigation procedures' in the US will show truth After it was again turned back in a bid to acquire a high-tech US firm or assets, telecommunications giant Huawei Technologies has for the first time questioned how the purchase threatened US security. ...
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Retailer's Net Profit Falls 3%
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sports

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