Tag Archives: China

The Alibaba Group offers up to $2.5 billion to take its Hong Kong-listed B2B trading platform private, four years after the company went public. The market gave a thumbs up yesterday to Alibaba Group’s proposal to privatise its Hong Kong listed business-to-business (B2B) unit Alibaba.com a little more than four years after it went public. Or how else does one …

BEIJING: China’s manufacturing activity continued to contract in February as export orders weakened, HSBC said, in a further sign that the eurozone crisis and US weakness are hurting demand. HSBC’s preliminary purchasing managers index rose to 49.7, the highest level in four months, from a final reading of 48.8 in January, the British banking giant said in a statement, released …

SHANGHAI: One of China’s biggest train makers said Wednesday it plans to raise 7.1 billion yuan (US$1.1 billion) through a rights issue, after a fatal crash last year starved the sector of funds. State-owned China North Locomotive and Rolling Stock Industry Corporation (CNR), which makes trains for the Beijing-Shanghai high-speed rail line, will use the funds to upgrade technology and …

NEW DELHI: India, China, the US, Russia, Brazil and another 21 nations have decided to retaliate against the EU decision to collect billions of dollars every year by unilaterally imposing a carbon tax on flights landing in Eurozone. The retaliatory measures decided include reviewing or abrogating the bilateral service agreements and open skies’ agreements with each European country, suspending all …

(Reuters) – Wal-Mart Stores Inc said on Monday it is taking a controlling stake in Chinese e-commerce firm Yihaodian, as the world’s largest retailer seeks new revenue sources to fend off rising competition in the world’s fastest-growing major economy. The move comes two weeks after Wal-Mart announced the appointment of industry veteran Greg Foran as head of its China operations, capping a …

China Telecom Corp. (728) will offer Apple Inc. (AAPL)’s iPhone 4S starting March 9, making it the nation’s second mobile-phone company to sell the device. Users who commit to a two-year contract can get a free 16- gigabyte handset with a service plan costing 389 yuan ($62) a month, the state-owned parent of China Telecom, the nation’s third-largest wireless carrier, said in a statement …

BEIJING, Feb. 19 (Xinhua) — China’s commercial banks saw their combined net profit expand to 1.04 trillion yuan (165.1 billion U.S. dollars) in 2011, according to latest official data. It was a marked increase from 763.7 billion yuan in 2010, statistics from the China Banking Regulatory Commission (CBRC) show. The lenders’ non-performing loan ratio stood at 1 percent as of …

China’s Vice President Xi Jinping, on the last day of a much-ballyhooed five-day trip through the United States, said the Chinese economy will avoid a “hard landing” this year and maintain stable growth. Slated to become the president of China by 2013, Xi told a business forum in Los Angeles: “2012 will be a crucial year in driving the twelfth …

BANGKOK, Thailand (AP) — Asian stock markets climbed Monday after China moved to boost its economy by freeing up bank lending and hopes grew that Greece will clinch the aid its needs to avoid bankruptcy. Oil prices jumped to a nine-month high near $105 a barrel after Iran said it halted crude exports to Britain and France in an escalation …

Japanese Finance Minister Jun Azumi said his nation and China will work together to help Europe solve its debt crisis through the International Monetary Fund. Europe needs a bigger so-called firewall of added funding to contain the crisis, even as Greece shows some improvement in solving its financial woes, Azumi told reporters in Beijing yesterday after meeting Chinese Vice Premier Wang Qishan. Azumi, who met …