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New turn in Saab quest for survival

Domestic auto distributor Pang Da Automobile Trade Co Ltd and automaker China Youngman Automobile Group Co Ltd have joined in a bid to acquire the failed Swedish carmaker Saab Automobile AB for 100 million euros ($138 million). Both companies and Saab's current owner Swedish ...

China's steel consumption to hit 750 mln tonnes

China's annual consumption of crude steel is expected to reach 750 million tonnes by 2015, according to the industry's five-year plan issued Monday. Annual demand for crude steel will peak between 770 million tonnes and 820 million tonnes from 2015 to 2020, according to a plan ...

Gaopeng contrite over fake Tissots

Daily deal website Gaopeng yesterday said it has found a retailer has counterfeited the authenticated dealership certificate of Tissot watches it sold online last month. Gaopeng, partly owned by the world's largest daily deal site Groupon, said it will offer 200 yuan (US$31.50) ...

Rail ministry pledges to pay off construction debt

To ensure construction continues on train line projects, the Ministry of Railways has promised to pay off some of its creditors before Nov 20. The move, announced in a brief statement on Thursday night, is being seen as a positive signal by creditors, although some raised doubt ...

China's Internet advertising rakes in 14 bln in Q3

China's Internet advertising market hit 13.8 billion yuan (about 2.17 billion U.S. dollars) in the third quarter, according to a report released Friday in Beijing. The figure shows a 22.5 percent quarter-on-quarter increase, and an 83.1 percent increase compared to the same ...

Weibo gives rumors no time to thrive

With millions of people sharing news and views every day through micro blogs, or Weibo, its no surprise that rumors spread so quickly. That's why people like Tan Chao are there to nip them in the bud. As director of "rumor control" for micro blog service Sina Weibo, Tan heads a ...

Imported iron ore prices fall

China's steelmakers have been more cautious in importing iron ore following recent price declines, as the world's top buyer continued to build up inventories in the week ending Oct 31, according to the Xinhua-China Iron Ore Price Index released on Tuesday. Stockpiles at 25 major ...

Firms seal deal on streaming

Sohu Inc's online video unit will provide Microsoft China with an online video streaming service under a partnership agreement. The two companies will jointly operate the online video business on MSN China's portal website, cn.msn.com, and allow users to share and repost video ...

Steelmakers seek deal with ore miners

Iron ore prices may further decline amid weak demand and high stockpiles, and they could shift to a new pricing mechanism, a top official from China's steel lobby said. Zhang Changfu, vice-chairman of the China Iron & Steel Association ,said Chinese steel companies are talking ...

Oil Falls on Greece's Referendum

U.S. crude oil price fell on Tuesday as Greece's unexpected decision to call a referendum over its debt bailout caused renewed concerns about the euro zone. Worries about European debt crisis reemerged after Greek Prime Minister George Papandreou decided to let Greeks vote on a ...

Apple iPhone 4S to arrive in China's HK

Apple announced on Tuesday that its latest iPhone 4S smartphone will be available in China's Hong Kong, South Korea and 13 additional countries next Friday. Customers will be able to pre-order iPhone 4S beginning this Friday, the Cupertino, California-based company said in a ...

China spurs growth of mobile Internet

A senior expert said Monday that China will take greater strides in promoting the development of its mobile Internet sector. Wang Xiujun, chief engineer of the Ministry of Industry and Information Technology (MIIT), said that the government will step up policy support for mobile ...

NTA VP to visit three textile manufacturing facilities

David Trumbull, Vice President, international trade, National Textile Association, has been invited by the China Chamber of Commerce for Import and Export of Textiles and the Chinese Ministry of Commerce to speak on November 1, 2011 at the China Import and Export Fair (Canton ...

Chinese chemical industry leader visits SABIC headquarters

The Saudi Basic Industries Corporation (SABIC) hosted a Chinese delegation, led by Li Yongwu, Chairman of China Petroleum and Chemical Industry Federation, at its headquarters in Riyadh on October 29. Prince Saud bin Abdullah bin Thenayan Al-Saud, Chairman of the Royal Commission ...

Wrangle over auto warranty regulation

The final version of an auto warranty regulation could require that an independent third-party agency will decide disputes between consumers and car dealers. A mechanism for warranty dispute resolution was the most-discussed topic at the first public hearing on a draft of the new ...

Chinese steel compamies see low profits

Steel companies made low profits in the first three quarters of this year, restricted by rising costs and decreased demand, an industrial group said Monday. Profits for China's 77 major steel companies rose 27.7 percent year-on-year during the January-September period, but the ...

China's automobile emission inspection network to cover all prefecture-level cities

China will step up automobile emission inspections and build inspection agencies in all prefecture-level cities by 2012, according to the country's environmental watchdog. Currently, there are a total of 1,206 inspection agencies at the state, provincial and prefecture levels ...

Beijing's free Wi-Fi will be safe

The capital's free Wi-Fi service, to be launched in a number of areas, is safe, officials said, amid fears that personal information and privacy may be compromised. China Mobile, China Unicom and China Telecom subscribers will be able to enjoy, by the end of November, a 2Mbps ...

FAW Car reports 49.86 million yuan of net loss in Q3

FAW Car Co., a unit of one of China's three largest auto makers, reported Sunday a net loss of 49.86 million yuan (7.88 million U.S. dollars) in the third quarter of this year because of slowing sales in the world's largest auto market. Sales revenue declined 25.38 percent year...

Beiqi Foton Motor profits down 60 pct as sales drop off

Beiqi Foton Motor Co., China's largest commercial vehicle manufacturer, said Sunday that its third-quarter profits slid 59.9 percent from one year earlier because of falling sales. The car maker's profits dropped to 211 million yuan (33.28 million U.S. dollars) for the third ...
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Lucrative golf industry lures stiff competition
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Li Na wins French Open women's singles title
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